SaaS and subscription revenue of its VMware surpassed its on-premises licence revenue for the first time in its Q3 fiscal year 2021 which ended in October 2020. According to the research data analysed and published by Comprar Acciones, VMware’s SaaS and subscription revenue for Q3 FY21 totaled $676 million. That marked an increase of 44% year-over-year (YoY) and accounted for 24% of the company’s total revenue. It is $37 million higher than the $639 million revenue of its on-premises licence segment.
Global IT Spending to Shed $300 Billion in 2020 as Cloud Spending Surges 6.3%. Global spending on data centre systems is expected to drop 10% to $188 billion in 2020 according to Gartner. At the same time, cloud system infrastructure services are estimated to grow from $41 billion in 2019 to $63 billion in 2020. Gartner also projects that SaaS solutions will generate $104.7 billion in 2020.
