Sramana: How has the change in industry tolerance and culture affected your marketplace?
Ratmir Timashev: These changes in business requirements have made the legacy solutions by Symantec and IBM less effective. Access to data should be almost continuous. You can only tolerate a few minutes of downtime and data loss should also be minimal.
Everybody needs access to data at any time, from any device, and anywhere that person is at. That is why most companies over the past five years have started projects that change their data center. They are modernizing their data centers to meet these requirements by leveraging server virtualization, network virtualization, and storage virtualization.
They are using new storage technologies that are cheaper, hold more data, and store data faster. That is a different set of cloud technologies. There are private cloud, public cloud, and hybrid cloud technologies that allow you to provision the services for businesses faster and restore services faster.
That has resulted in three fundamental technology blocks; virtualization, storage, and cloud. The modern data center is built on these new technologies. Once companies build these new data centers to meet those requirements, they realize that they can provision and provide more services to business faster. They can deploy new services to new business units faster. What used to take six months or 12 months can be rolled out in months or even weeks. In some cases, it can even be rolled out in hours.
Companies would deploy these new data centers and find that everything was working fine. Once a disaster event of some kind happens, such as a server crash, these companies realize that although they have modernized their data center, they were still using legacy backup products to provide the protection layer. That legacy technology takes hours or days to restore an application.
This has led companies to start looking for new solutions that can restore an application within minutes and with minimal data loss. They often find that the only viable option here is Veeam because Veeam is a young company that was designed specifically in the past six years to sit on top of the modern data center and meet current business requirements. Veeam plays in the traditional data market that Gartner and Forester describe and Enterprise Backup and Recovery, a $5 billion market growing at 10% a year.
Enterprise Backup and Recovery is part of a larger market, which is defined as Data Management. That market includes data analysis, data archival, data de-duplication, data reduction, and so on. We are playing in the bigger market, which is estimated to be a $15 billion market. What’s interesting is the lines between the various markets within Data Management are blurring. We are the leader in the new market. We are taking market share from legacy vendors and are growing very fast.