VMware provide you product as an hardware or software to facilitate virtualization in your in house infrastructure. So with its help you can use a single hardware and can run multiple servers on it through virtualization. As far as sharing of resources and bringing down cost is concerned it fits in the picture of Infrastructure as a service Model(IAAS) but not trually.
On the other hand AWS is a true IAAS solution where all the IT infrastructure product is available on your fingertips over the internet(can be private connection). You donot need to provision anything physically in you data center.
Now one of the difference is that you are totally relieved of managing physical infrastructure, your Operational cost goes down (Thanks to Pay as you go model- you pay for only what you use & not needing capital innvestemnt), it provides Elasticity which VMware does not i.e. you infrastructure can not scale by using VMware.
And let me tell you one interesting fact, AWS is using VMware hypervisors to provide services which means even if you are using AWS you may indirectly end up using VMware products.
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