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Microsoft’s software and IT services division has recently taken a significant hit

Stock photo of young woman’s face as she contemplates one of the many computer monitors that surround her.

According to new research, there is a change of guard when it comes to some of the most common IT services and software options in one key market.

According to new TechMarketView data, Amazon Web Services (AWS) grew sufficiently in the UK software and IT services industry last year to knock Microsoft out of the top three.

TCS, a former market leader, saw revenues grow to £3.491 billion in 2022, placing it third behind Accenture at £3.623 billion and AWS at £3.78 billion. Because the figures are so close, the charts must be reshuffled regularly. Regardless, Microsoft fell to fourth place with a market capitalization of £3.382 billion.

AWS has topped even more charts.

Furthermore, when it comes to cloud computing, AWS continues to outperform Microsoft Azure. AWS consistently outperforms Redmond in any set of figures for any segment of the market.

Capgemini (£2.352 billion), Capita (£2.32 billion), IBM, HCL Tech, Oracle, and Atos rounded out the top ten.

Despite this continued growth, TechMarketView predicts a slowdown that will last until at least 2026, despite Britain’s “ongoing productivity crisis,” which continues to fuel tech investments.

Many studies suggest that businesses are failing to provide the right office software and are even wasting unused licenses in an attempt to appease workers, but instead fail.

According to TechMarketView chief analyst Georgina O’Toole, the right investments will help to alleviate Britain’s productivity crisis:

“With the right investment, [the UK tech industry] is perfectly placed to improve the productivity of its clients’ organizations while also supporting the overall productivity of the UK.

Along with the economic difficulties that the UK and the rest of the world are experiencing, the drop in growth could indicate that IT leaders are looking to refine their services to ensure that those they do choose are beneficial to workers’ productivity.

Via The Register