Dell Technologies expenditure on research and development worldwide 2000-2024
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In the 2023 financial year, Dell spent just over 2.8 billion U.S. dollars on R&D, which is a substantial increase from the 374 million U.S. dollars in 2000. The company had especially increased its research and development spending between financial years 2018 and 2023, as Dell Technologies is strongly pushing to remake its business model. The company is moving away from primarily being a hardware PC manufacturer to becoming an IT services and solutions provider in the midst of the digital transformation age.
Areas of research and development
The focus of Dell Technologies’ research and development is artificial intelligence (AI), the Internet of things (IoT), and data management. A significant portion of Dell Technologies' strategic change of the company’s business model was software virtualization company VMware, which provided cloud computing and platform virtualization software and services. VMware has the largest market share of hyper-converged systems revenue worldwide. In 2021, Dell spun off VMware into a separate company.
