Jun 14, 2022 / 08:00AM GMT
Jared Ian Weisfeld - Jefferies LLC, Research Division - MD & Technology Sector Specialist
Thanks so much for joining us. So I'm sure everyone is familiar with Cisco to some extent. But maybe for those that aren't familiar with as much of the transition that's underneath the story and the migration to software and subscriptions maybe let's give a little bit perspective in background and we can walk through that.
Richard Scott Herren - Cisco Systems, Inc. - Executive VP & CFO
Sure. So one of the things -- one of the key things that we've been working on at Cisco is moving to a far more recurring revenue model. And I think it tracks the pattern of the industry. It tracks -- as we look at the total addressable markets out for the next 5 years, there's growth in that 5% to 7% range when you accumulate across the markets we sell into. But if you go to the next click, the growth of the subscription model within that overall growth is about 15% to 17%.
So it's a great opportunity for us to go where the market is to go with what our customers want to buy
Cisco Systems Inc at Jefferies and Nasdaq Conference Transcript
Jun 14, 2022
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