In Q2 2023, our modeled AWS, Azure and Google Cloud commitment pool stood at ~$305B.

By Q2 2026 it had reached $1.47T.

On the Marketplace curve

Three years ago the largest public Marketplace number in existence was $1B.

Snowflake disclosed $7B in lifetime AWS Marketplace sales this May. Salesforce disclosed $5B+ a month before that.​

Over the same period:

• Splunk disclosed $3.4B cumulatively

• Salesforce, Snowflake, Datadog, Wiz and Zscaler all disclosed $1B+ milestones within 18 days of each other around re:Invent 2025

​Across the 16 companies in the $1B Marketplace Club, the highest public milestone disclosed by each now totals over $30B.

This is not a perfect number. The disclosures mix cumulative sales, annual sales, transactions and TCV. But the direction and the shape of both curves are impossible to ignore.​

What changed underneath

• Customer commitments created a large pool of contracted budget

• Buyers learned to spend it through Marketplace

• Cloud sellers learned to bring partners into accounts

• Private offers and channel models matured

• Operations moved from spreadsheets and shared inboxes into repeatable infrastructure

​But that doesn’t mean committed dollars automatically become Marketplace revenue.​

Leaders still have to build the GTM system that converts opportunity into transactions

• Win internal sellers before asking them to change the route

• Connect hyperscaler field engagement to real accounts and pipeline

• Design channel economics before the deal reaches procurement

• Automate quoting, offers, governance and reporting before volume arrives

​That GTM operating system is what separates the companies that scaled from the ones that only listed.