Amazon AMZN is making every effort to strengthen presence in the global cloud market on the back of its portfolio strength.
MercadoLibre MELI — e-commerce dominant in Latin America —recently selected Amazon Web Services (“AWS”) as its primary cloud provider.
Notably, MercadoLibre is striving to acquire meaningful insights from the vast data stored in its marketplace platform, and advertising, logistics and digital payment platform in a bid to transform itself into a data-driven company, which will aid it in delivering a better customer experience.
The company is building a data lake called MeliLake by leveraging Amazon Simple Storage Service and Amazon EMR for the aforesaid purpose.
Additionally, it is utilizing the robust AWS services portfolio, which is best known for scalability and security, to drive growth in its payment platform and credit line — Mercado Pago and Mercado Credito, respectively.
MercadoLibre’s selection of AWS highlights the efficiency and reliability of AWS’s innovative cloud products and services.
The recent move by MercadoLibre is in sync with AWS’s strategy to expand clientele.
Apart from this, AWS got recently selected by Zalando as the official cloud provider. Zalando will leverage AWS’s machine learning services, analytics, compute, database, networking, serverless, storage and other services in order to enhance the shopping experience.
Further, AWS was selected by Standard Chartered Bank. Moreover, the latter signed a five-year agreement to leverage AWS’sreliable infrastructure and cloud services across its entire business in a bid to digitalize its operations and deliver personalized banking services across its 60 markets worldwide.
Further, Carrier Global entered a multi-year agreement with AWS to develop the Lynx platform with the help of the latter’s IoT, analytics and Machine Learning services.
Notably, expansion will help Amazon in maintaining the dominant position in the cloud market, where competition is intensifying with the growing endeavors of peers like Microsoft MSFT, Alphabet’s GOOGL Google and Alibaba.
Per the latest Canalys data, Microsoft Azure, Google Cloud and Alibaba Cloud acquired worldwide cloud market share of 19%, 7% and 6% in third-quarter 2020, respectively, while Amazon led with a 32% share.
Amazon.com, Inc. Revenue (TTM)
Amazon.com, Inc. revenue-ttm | Amazon.com, Inc. Quote
Portfolio Strength: Key Catalyst
We believe AWS’s focus on enhancing service offerings is likely to continue driving momentum across customers.
AWS recently made Amazon Managed Workflows for Apache Airflow (“MWAA”) generally available. Notably, the service offers availability, security and improved scalability to customers, while managing their workflows using Apache Airflow.
Further, the company announced the general availability of AWS Network Firewall, which is a new service, well-equipped to protect against common network threats such as intrusion prevention and detection, dynamic packet filtering, and web filtering.
Furthermore, AWS recently made its new visual data preparation tool called AWS Glue DataBrew generally available. The tool provides more than 250 pre-built transformations to automate data preparation tasks.
Additionally, the company made its new Amazon EC2 capability namely AWS Nitro Enclaves generally available. AWS Nitro Enclaves offer a trusted, highly isolated and hardened environment for processinghighly sensitive data.
Also, AWS made Amazon EC2 P4d instances and a new time series database called Amazon Timestream generally available.
We believe that the expanding AWS portfolio will continue to aid the company’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.
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