Here's A Reminder Just How Massive Amazon's Web Services Business Is

With the recent debut of Amazon's streaming music service and the upcoming launch of what will likely be a new smartphone, it's easy to forget about a major part of the company's business: It's computing services platform, Amazon Web Services (AWS).

Amazon Web Services accounted for 37% of the $9 billion infrastructure as a service (IaaS) market in 2013, according to analysts from equity research company Evercore. The IaaS market is growing by 45%, but Amazon Web Services has a growth rate of 60%.

AWS also has more than five times the computational capacity of its 14 next IaaS competitors combined, according to a Gartner report published last fall.

Unsurprisingly, Amazon is just as competitive with Web Services pricing as it is with its retail pricing. Just days after Google announced that it was reducing costs of some of its cloud services, Amazon slashed its own prices, proudly touting its 42nd price-cut in six years.

Here's how Amazon stacks up against the competition when it comes to revenue: