JOIN USNasdaq-listed LogMeIn, which offers a range of cloud connectivity services, said the company is focusing on the growing SMB (Small and Medium-sized business) market opportunity for its next level of growth.
“Since 2011 when we arrived here, we have been working with larger technology companies, BPOs and telcos to enable them bring their solutions to their customers. Our focus now is moving towards SMBs and companies that are thinking of creating next-generation products,” LogMeIn Managing Director Rahul Sharma said.
He pointed out that the SMB market space in India is pretty huge. “It is probably the second biggest SMB market in the world, second to China. We are currently talking to a few ecommerce companies,” he said.
The cloud connectivity company is into three kinds of business— helping people connect to people, people connect to devices and devices connect to other devices. “Our cloud offerings include four suites of products. They include the Collaboration cloud, the Identity and Access Management cloud, the Connected Products and Customers cloud and Service and Support.,” he said.
The Boston-headquartered firm also undertakes specific strategies as part of its efforts to retain clients. “We have been operating with very less churn because our customers have liked our products. There are some who have been using this for a long time now. It is in our strategy to work with our customers closely, reduce the churn and make sure, they continue working with us,” Sharma said.
He said that there is a tremendous increase in cloud adoption so much so that at least 90% of the businesses in India use at least one technology that is on the cloud.
On the hiring front, he said the company has doubled its team strength in India since last year. “We currently have just one centre in Bengaluru. We want to increase our footprint in India,” he added.
According to a TechSci Research report “India Internet of Things (IoT) Market Opportunities and Forecast, 2020”, IoT market in India is projected to grow at a CAGR of more than 28% during 2015 – 2020. “If I were to give the market size for our products in IoT, it would not cover the market size for other products like in the customer support or collaboration space. The company’s SaaS offerings are also growing in the country as there is an expectation for unified experience,” he said.