Oracle warns Amazon of cloud software challenge

Amazon's lead in the cloud computing market is about to come to an end, according to Larry Ellison, executive chairman and chief technology officer of Oracle.

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The Redwood, California-based company held its annual customer conference in San Francisco on Sunday, and said that Amazon should expect serious competition in the near future.

"We’re in the middle of a generational change — from on-premise computing — to super data centres called clouds," Ellison reportedly said. "Amazon’s lead is over. Amazon's going to have serious competition going forward."

Jeff Bezos' company appears to be well ahead of the chasing pack, after ten years since its launch of Amazon Web Services which has seen it grow to as much as 1.6 times as big as its competitors.

Ellison believes that Oracle's IaaS system is both faster and cheaper than the Amazon alternative.

"Our Generation2 IaaS delivers twice the compute, twice the memory, four times the storage and ten times more I/O at a 20 percent lower price than Amazon Web Services," Ellison said in a statement last week.