Amazon Web Services

AWS is larger than the next five cloud infrastructure providers combined. The pioneering cloud vendor maintains its hold on roughly one-third of the global cloud market, according to Synergy Research.

"The law of large numbers almost dictates that AWS growth rate has to moderate," said John Dinsdale, Synergy's chief analyst.

In fact, Amazon's 43 percent growth over the last quarter only kept pace with the market as a whole. Given its existing size, however, that "moderate" rate converts to more overall revenue gain than any other provider and allows the industry's leader to maintain its perch atop the cloud.

Amazon CFO Brian Olsavsky noted in the earnings call the last quarter saw Amazon's cloud business attempt to penetrate new markets with two high-profile products: Amazon Connect, a contact center solution; and Chime, a new collaboration service.

 And following a year in which AWS introduced more than 1,000 new cloud features and services, the "innovation pace continues to accelerate," Olsavsky said.