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Amazon (AMZN) Bolsters AWS Portfolio With New Managed Service

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Amazon’s (AMZN - Free Report) cloud division, Amazon Web Services (“AWS”), has made its Amazon Managed Service for Prometheus, which is fully compatible with open-source Prometheus, generally available.

Notably, the underlined service is a fully managed scalable and secured monitoring service, which aids in addressing the application and infrastructure requirement by taking care of the infrastructure needed in ingesting, storing, and making operational metric-related queries.

Further, customers can ingest operational metrics from existing customer-managed Kubernetes clusters seamlessly by using application programming interfaces of Amazon Managed Service for Prometheus, which offers the same time series data model and Prometheus Query Language as the ones utilized to monitor containerized applications.

Hence, the service is ideal for monitoring containerized applications.

Customer Base to Expand

We believe that the latest move is likely to help AWS gain strong traction among customers.

Notably, customers using the new service will have to pay for the operational metrics that are ingested and stored, without any upfront payment.

This along with the above-mentioned benefits is likely to bolster the adoption rate of Amazon Managed Service for Prometheus.

Notably, customers like Fanatics, Twilio and eTF1 have already shown interest in the underlined service.

We believe that the growing customer momentum will continue to drive AWS’s top line. Strengthening clientele will continue to aid its competitive edge against its peers like Microsoft (MSFT - Free Report) , Alphabet’s (GOOGL - Free Report) Google and Alibaba (BABA - Free Report) .

Per the latest Canalys data, Microsoft Azure and Google Cloud acquired a worldwide cloud market share of 22% and 8% in second-quarter 2021, respectively, while Amazon led with a 31% share.

Amazon.com, Inc. Price and Consensus

 

Amazon.com, Inc. Price and Consensus

Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote

Expanding Portfolio

The latest move bodes well for the growing efforts of AWS toward expanding its product and services portfolio.

Apart from it, the company recently unveiled three capabilities for Amazon Connect namely, Amazon Connect Wisdom, Amazon Connect Voice ID and automated outbound communications, which are well-equipped to aid contact centers in delivering better customer services.

The company made its new capability in QuickSight called Amazon QuickSight Q generally available. Amazon made its new storage service called Amazon FSx for NetApp ONTAP generally available as well.

The company made its fully managed data visualization service called Amazon Managed Grafana generally available. The service allows customers to track operational and IoT data from various sources by creating Grafana dashboards seamlessly.

The company made its fully managed in-memory database — Amazon MemoryDB for Redis —generally available. Amazon MemoryDB is Redis-compatible, which helps in the storage of the entire datasets in memory.

The company announced the general availability of Amazon EBS io2 Block Express volumes, which bolstered AWS’s storage area network capabilities. EBS io2 Block Express volumes are equipped with SAN features like multi-attach and elastic volumes.

The company announced the general availability of Amazon Healthlake, which extracts and analyzes important health-related information, and securely stores them on the cloud.

We believe that the expanding AWS portfolio will continue to aid Amazon’s dominance in the booming cloud market.

Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.