Still, the U.S. dominance of cloud services could present opportunities for local cloud providers, Dinsdale said.
"I expect to see vendors in other regions, particularly Asia, grow rapidly and become increasingly competitive," agreed Charles King, principal analyst with Pund-IT. "Political issues in some countries -- China is a good example -- will likely make it easier for homegrown companies to compete there, and curtail efforts by vendors from elsewhere."
Looking ahead, the sheer size and variety of the cloud market make it unlikely that any one vendor will become fully dominant and threaten innovation or choice, King said.
Instead, "we're seeing vendors build much of their efforts around specific areas of expertise," he said. "That's great for customers since many of the resulting services are well-attuned to their actual business needs."
Sign up for CIO Asia eNewsletters.