VeeamOn 2019 Wrap Up: “the opportunities are tremendous”
Veeam bills VeeamON as the “The Premier Conference for Cloud Data Management.” For HyAlto’s first time as a sponsor and exhibitor, the industry gathering last month in Miami certainly did not disappoint. Some 50 exhibitors and 2,000 enthusiastic attendees came together to talk shop, socialize and define the future of the enterprise cloud.
Veeam rode into the conference on some impressive milestones. In April, it announced double-digit growth for its first quarter, in hand with hitting the US$1 billion revenue mark. An average of 4,000 customers are signing up each month and Veeam now has more than 343,000 world-wide.
Veeam’s new subscription-based pricing model, as well as a recent $500-million investment round, has co-founder Ratmir Timashev boldly predicting the company will hit US$2 billion in revenue within five years. That will represent a significant acceleration in growth, considering it took Veeam almost 13 years to reach its first $1 billion.
“The opportunities are tremendous for Veeam and for our partners,” he told the crowd. “This is the next stage of our evolution.” Veeam is basing that rosy outlook on the same fundamentals that we are. Fully 90 per cent of enterprises are expected to have a multi-cloud strategy in place to handle their data, IT and computing needs within the next three years.
Veeam’s particular slice of that market, cloud data management, is on a strong growth curve. In fact, Veeam recently quoted IDC Research Director Phil Goodwin as stating that “the overall cloud-based data protection as a service market is growing at a 16.2 percent CAGR (compound annual growth rate), much faster than the 3.4 percent CAGR for traditional data protection and recovery software. Veeam continues its strong market growth in both segments by continuing to offer new products and services matched to the rapidly evolving cloud and on-premise requirements.”
Meanwhile, Gartner’s public cloud market forecast released in April calls for this market segment to have grown from US$10.5 billion in 2018 to $17.9 billion in 2022. The market is growing fast and Veeam’s expected share of it, even faster.
These kinds of trajectories across the cloud market have HyAlto primed for growth, too. We were proud to announce just before VeeamON our new partnership with Veeam. This expands on our existing relationship with VMware to make HyAlto a truly multi-cloud partner for all those small and mid-sized MSPs that are struggling to grow their businesses. MSPs can now leverage Veeam for backup and replication and VMware for private cloud services through our single-pane-of-glass that reduces the complexity of multi-cloud management.
Partnership across the cloud market is vital for our business and VeeamON left little doubt that it is vital to Veeam as well. Veeam has around 60,000 partners in its ecosystem, including MSPs, resellers, distributors and companies like us. The vibe at VeeamON left us with little doubt that we are in good company.
One of the more memorable episodes at the conference involved a Veeam executive who allowed his laptop to be drowned on stage to show how quickly his system could be restored in real-time – there’s faith in your company’s value prop.