Amazon's (AMZN - Free Report) strengthening cloud service portfolio is helping it gain customers.
Recently, the company’s cloud computing arm — Amazon Web Services (AWS) — was selected as the primary cloud provider by Europe-based ProSiebenSat.1 Media, a satellite and cable broadcasting company. This has strengthened Amazon’s cloud client base.
Notably, ProSiebenSat.1 has recently decided to automate its business by leveraging Machine Learning (ML) services of AWS. Also, the services will help it enhance recommendations across its media brands and develop personalized products.
ProSiebenSat.1 already utilizes AWS data analytics tools in future value prediction for an upcoming advertising slot. Also, it uses Amazon SageMaker to build and deploy ML models.
Portfolio Strength: Key Catalyst
The latest selection of AWS highlights the efficiency and reliability of its services.
ProSiebenSat.1 is one of the consistent customers of AWS. Most of the applications of its Joyn streaming platform are deployed on AWS. Further, the company runs the production and commerce businesses of its Red Arrow Studios and NuCom Group, respectively, on AWS.
We believe that focus on AWS to enhance its services offerings is likely to drive it’s the broadcaster’s momentum.
Recently, Amazon rolled out AWS Data Exchange that provides quick access to the data offered by qualified data providers to its customers. Notably, data from brands such as Reuters, Change Healthcare, TransUnion, Foursquare and Pitney Bowes, among others, are available on AWS Marketplace.
Amazon is likely to gain momentum across scientific researchers, academic institutions and enterprises that utilize such data for research work, to make data-driven decision as well as for analytics and training machine-learning models with AWS Data Exchange.
Apart from this, growing ML initiatives of AWS holds promise in the near term and the long haul. Moreover, AWS’ expanding ML-based cloud services portfolio and instances offerings bode well.
Apart from ProSiebenSat.1, AWS was recently selected by Seattle Seahawks as its cloud, ML and AI provider. Further, Western Union selected AWS as its preferred long-term strategic cloud provider. Also, Old Mutual Limited selected AWS as its preferred cloud provider.
Expansion of clientele is crucial for the market share of AWS. This is likely to aid Amazon to maintain its dominant position in the global cloud space where the competition is intense due to efforts by Microsoft (MSFT - Free Report) , Alphabet’s (GOOGL - Free Report) Google and Alibaba (BABA - Free Report) among others.
Notably, AWS’ market share was around 40% in third-quarter 2019, per a report from Synergy Research Group. Although cloud service providers like Azure, Google Cloud and Alibaba Cloud witnessed expansion in their market share in the same quarter, AWS continued with its lead position.
Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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