{"id":17122,"date":"2020-12-02T11:41:00","date_gmt":"2020-12-02T08:41:00","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=17122"},"modified":"2021-01-31T18:47:56","modified_gmt":"2021-01-31T15:47:56","slug":"vmwares-saas-and-subscription-revenue-spikes-by-44-to-676-million-in-october-2020","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/vmwares-saas-and-subscription-revenue-spikes-by-44-to-676-million-in-october-2020\/","title":{"rendered":"VMware\u2019s SaaS and Subscription Revenue Spikes by 44% to $676 Million in October 2020"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">SaaS and subscription revenue of VMware surpassed its on-premises license revenue for the first time in its Q3 fiscal year 2021 which ended in October 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the research data analyzed and published by&nbsp;<a href=\"https:\/\/compraracciones.com\/\">Comprar<\/a><a href=\"https:\/\/compraracciones.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"> <\/a><a href=\"https:\/\/compraracciones.com\/\">Acciones<\/a>, VMware\u2019s SaaS and subscription revenue totaled $676 million. That translated to an increase of 44% year-over-year (YoY) and accounted for 24% of the company\u2019s total revenue. During the same period, on-premises license revenue amounted to $639 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the past, VMware got most of its revenue from the sales of on-premises data center software. But in recent years, it has initiated a gradual transition to the cloud.<\/p>\n\n\n\n<div class=\"infogram-embed\" data-id=\"667b788f-04d2-41de-8808-24bd3c21c683\" data-type=\"interactive\" data-title=\"VMware\u2019s SaaS and Subscription 1st graph\"><\/div><script>!function(e,i,n,s){var t=\"InfogramEmbeds\",d=e.getElementsByTagName(\"script\")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(\"script\");o.async=1,o.id=n,o.src=\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\",d.parentNode.insertBefore(o,d)}}(document,0,\"infogram-async\");<\/script>\n\n\n\n<p class=\"wp-block-paragraph\">The unique business circumstances occasioned by the pandemic served to speed up the cloud-first shift. This was the result of large enterprise customers reducing on-premises spending and spending more on cloud-delivered models in support of remote work.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">VMware\u2019s total revenue for Q3 FY21 was $2.86 billion, up by 8% YoY. Its profit for the period was $704 million, equivalent to $1.66 per share. That was a 17% increase YoY from the $602 million profit or $1.42 per share in Q3 of the year-ago period.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>SaaS Spending to Grow to $140 Billion by 2022 from $102 Billion in 2019<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">For the IT industry as a whole, spending is continually shifting to public cloud computing. According to a Gartner report, it is estimated that by 2024, 45% of IT spending will shift to the &nbsp;cloud from traditional solutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The latest IT spending forecast from Gartner projects that spending on data center systems will decline by 10% in 2020, to reach $188 billion. On the other hand, it estimates that spending on cloud system infrastructure services will go from $41 billion in 2019 to $63 billion in 2020. By 2022, it is expected to reach $81 billion.<\/p>\n\n\n\n<div class=\"infogram-embed\" data-id=\"094a1a84-b330-494a-b543-b794e5636336\" data-type=\"interactive\" data-title=\"VMware\u2019s SaaS and Subscription - 2ndgraph\"><\/div><script>!function(e,i,n,s){var t=\"InfogramEmbeds\",d=e.getElementsByTagName(\"script\")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(\"script\");o.async=1,o.id=n,o.src=\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\",d.parentNode.insertBefore(o,d)}}(document,0,\"infogram-async\");<\/script>\n\n\n\n<p class=\"wp-block-paragraph\">Similarly, Gartner anticipates that SaaS solutions will generate $104.7 billion in 2020, up from 102.1 billion in 2019. The figure is expected to grow to $121.0 billion in 2021 and further to $140.6 billion in 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is worth noting that in Q1 2020, on-premises IT spending dropped by 16.3% YoY according to IDC. In contrast, public cloud spending surged by 6.4% YoY and was the only deployment segment to escape a YoY drop during that period.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Overall cloud spending grew by 2.2% due to a 6.3% decline in private cloud infrastructure spending. At the time, IDC predicted that IT spending would keep soaring and by the end of 2020, would account for 54.2% of overall IT spending.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, in Q2 2020, there was an 8.7% YoY decline in traditional IT spending, while overall cloud spending increased by 34.4% YoY. Public cloud spending surged by 47.8% YoY during the period while private cloud spending increased by 7%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Canalys, global spending on cloud services rose by 33% YoY in Q3 2020, reaching $36.5 billion. It was $2.0 billion higher than Q2 2020 and $9 billion higher than Q3 2019.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Global IT Spending to Shed $300 Billion in 2020 as Cloud Spending Surges 6.3%<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Gartner projects that the global IT spending will decline by 8% YoY in 2020 to $3.5 trillion. Comparatively, the figure was $3.8 trillion in 2019, which means that the drop will be a massive $300 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cloud spending will, however, be a bright spot in the industry as it is projected to grow by 6.3% YoY.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/cdn.shortpixel.ai\/spai\/w_1342+q_+ret_img\/https:\/\/compraracciones.com\/wp-content\/uploads\/sites\/8\/2020\/12\/Screenshot_172.png\" alt=\"\" class=\"wp-image-906\"\/><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">While SaaS is the largest segment of cloud solutions and is expected to remain so up to 2022, its growth rate is expected to slow down. Over a five-year period, the segment is expected to grow at a 12% CAGR according to BMC.<\/p>\n\n\n\n<div class=\"infogram-embed\" data-id=\"bb5b6094-0284-4433-9283-b372fd511cd5\" data-type=\"interactive\" data-title=\"Copy: VMware\u2019s SaaS and Subscription - 2ndgraph\"><\/div><script>!function(e,i,n,s){var t=\"InfogramEmbeds\",d=e.getElementsByTagName(\"script\")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(\"script\");o.async=1,o.id=n,o.src=\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\",d.parentNode.insertBefore(o,d)}}(document,0,\"infogram-async\");<\/script>\n\n\n\n<p class=\"wp-block-paragraph\">Comparatively, the total cloud market will grow at a CAGR of 12.5%. Initially immature technologies like Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) will outperform the overall sector. IaaS is anticipated to have the highest growth rate at 18% CAGR while PaaS is estimated to grow at 17.2% over the five-year period.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In terms of revenue though, SaaS will remain miles ahead as PaaS is set to reach $72.0 billion in 2022, about half of SaaS. IaaS will be slightly higher than PaaS, with about $81.0 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to research data published by BMC, by 2021, 73% of organizations will be using SaaS solutions wholly or in part. In fact, 85% of small companies had already invested in SaaS solutions at the end of August 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lastly, an IDG report highlights the overall growth of cloud computing. It highlights that 92% of organizations operate their IT environment in the cloud to some extent. By the start of 2022, the figure is expected to have increased to 95%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SaaS and subscription revenue of VMware surpassed its on-premises license revenue for the first time in its Q3 fiscal year 2021 which ended in October 2020. According to the research data analyzed and published by&nbsp;Comprar Acciones, VMware\u2019s SaaS and subscription revenue totaled $676 million. That translated to an increase of 44% year-over-year (YoY) and accounted 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