Amazon's (AMZN) AWS Adds io2 to Amazon EBS' Volume Offerings

Amazon’s AMZN cloud division Amazon Web Services (AWS) recently made io2 for Amazon Elastic Block Store (Amazon EBS) generally available.

Notably, io2 is an advanced provisioned input/output operations per second (IOPS) SSD volume, which expands the volume offerings of Amazon EBS that already provides four different types of volumes.

io2, which costs same as io1 volume, has been developed to deliver 100 times higher volume durability and 10 times higher IOPS-to-storage ratio compared to io1 volume. It offers performance of 64K IOPS and 1000 MB/s throughput.

AWS strives to deliverrobust performance to the EBS customers without spiking their storage spending as io2 supports up to 500 IOPS for every provisioned GB. It also provides single-digit millisecond latencies.

We note that, AWS is expected to gain momentum across applications such as ERP, CRM, and online transaction systemsthathave strong IOPS requirements.

Further, the company is likely to witness solid traction among databases like IBM DB2, Apache Cassandra, MySQL, SAP HANA, Oracle, Microsoft SQL Server and PostreSQL.

Thereby, this is expected boost the adoption rate of io2 volume and Amazon EBS, which in turn will drive AWS’ top line., Inc. Revenue (TTM), Inc. Revenue (TTM), Inc. revenue-ttm |, Inc. Quote

Expanding Services Portfolio

The latest move broadens the company’s portfolio of cloud services and products.

Apart from the latest move, AWS announced the general availability of Amazon Braket, which is a fully managed service that allows customers to test and troubleshoot quantum algorithms on quantum computer simulators.

Further, AWS Wavelength on Verizon’s 5G network was recently made generally available for users in Boston and San Francisco Bay Area.

Moreover, AWS made its managed service namely Amazon Fraud Detector, which rapidly indentifies fraudulent online activities, generally available. It also announced the general availability of a set of capabilities for Amazon Connect namely Contact Lens powered by ML.

The company also made AWS IoT SiteWise generally available. Notably, AWS IoT SiteWise helps industrial companies in reducing equipment costs by helping them in building application by analyzing industrial equipment data by generating real-time key performance indicators.

Additionally, it made its fully-managed service — Amazon Interactive Video Service (Amazon IVS) — generally available in a bid to expand presence in the live video streaming field.

AWS Clientele to Grow

We believe expanding cloud offerings will continue to aid AWS in delivering better user experience, which in turn, will strengthen its client base.

Recently, Jack in the Box JACK went all-in on AWS by migrating from its on-premises data centers to the latter.

Further, AWS got selected by HSBC Holdings as a key, long-term strategic cloud provider. HSBC by migrating to AWS will automate key processes and boost operational efficiency.

IHS Markit has also selected AWS as its preferred cloud infrastructure provider. Additionally, Capella Space has also gone all-in on AWS.

Notably, expanding will help Amazon in maintaining dominant position in the cloud market where competition is intensifying with the growing endeavors of peers like Microsoft MSFT and Alphabet’s GOOGL Google.

Per the latest Synergy Research Group report, Microsoft and Google acquired worldwide cloud market share of 18% and 9% in second-quarter 2020, respectively, while Amazon led with 33% share.

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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