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VMware could see success in its transition from an upfront business model toward a recurring subscription model across the entire product portfolio, including NSX, vSAN and possible ESX as a service, Rangan commented. Perhaps more important, this trend will also be accelerated by VMW Cloud on AWS.
"We believe VMW has hit a tipping point whereby licenses from new and faster growing products such as NSX, vSAN, EUC are ~50% of license revenues and will increasingly inflect growth and plant it more firmly in double-digit territory," the analyst concluded. "This would potentially reduce license cyclicality."
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