Britain's antitrust watchdog on Tuesday raised concerns over competition in the multi-billion-pound cloud computing market.

The UK's Competition and Markets Authority (CMA) has announced its preliminary findings that the cloud services market "is not working as well as it could be." That relatively vague statement follows a 16-month investigation into the UK's cloud services market,

Competition in the cloud services market is not working as well as it could be, the UK's competition regulator has said in its provisional findings on an investigation into the industry.

An independent enquiry found competition wasn’t working in the market, which could result in higher costs, less and innovation as well as worse service across the U.K. economy.