India a hypergrowth market for Veeam Software

Data management and recovery firm Veeam Software has identified India as one of three hypergrowth markets, alongside China and the Americas, estimating that it will grow at a CAGR of over 100% over the next few years. Shaun McLagan, senior vice president, Asia Pacific and Japan, Veeam Software, told ET that the APJ market is a high growth region for the company, growing at over 60%, as compared to EMEA (20%) and the Americas (35%).

“There is a huge hunger for disruptive technology in India and in the last three quarters, India has been among the top two fastest growing markets for the company. We are investing to increase our presence here,” said McLagan. The company is in the process of setting up an ‘Inside Sales’ team in India which is focused on small and medium enterprises and mid-size markets. However, the team size would remain relatively small at about 30 people split over sales and operations, with support services for India and Asia Pacific continuing to be run out of Sydney.

In January this year, India was made part of the APJ business at Veeam – earlier it was part of EMEA, and this has led to an increased focus on the country. McLagan said, “There is a lot of focus on India at the executive board level.” The market segment Veeam operates in is growing in the region of 5-6% according to market intelligence firm IDC, said McLagan, while the company was growing at 36% year on year. It closed last year with revenues of $820mn and said was on track to hit the $1bn mark by the end of 2018.


According to a recent report by research firm Gartner, software investments in the Indian data center infrastructure market are pegged to touch $3.6bn, making it a strategically important market for Veeam.