ManageEngine sees India emerge as its second largest market globally

MUMBAI: ManageEngine, the enterprise IT management division of Zoho Corporation, has announced that India is on track to become its second largest market globally within the next three years, behind the United States, due in large part to India’s rapid adoption of cloud technologies.

The company will discuss India’s growth and announce future technology plans at ManageEngine UserConf Mumbai 2023, its first user conference of 2023, to be held here on February 1 and 2.

Sridhar Vembu, CEO and co-founder of Zoho Corp, said, “ManageEngine has long been Zoho Corp’s bread and butter. Over the last five years, ManageEngine’s cloud services averaged 70% yearon-year growth, peaking during the time of the Covid-19 pandemic. We see tremendous potential in India. The rate of digitalization is picking up here at a rapid pace, making IT management more important than ever and setting up ManageEngine to soon reach $1 billion in global revenue.”

In 2022, Zoho Corp became the first bootstrapped company in India to record an annual revenue of $1 billion. Its ManageEngine division, established in 2002, has served over 280,000 organisations across 190 countries, including more than 10,000 organisations in India.

Currently, the third largest revenue market worldwide for ManageEngine, India is set to surpass the United Kingdom in the next three years. ManageEngine India has registered a year-over-year growth of 50% in 2022 while the customer count increased by 30%, driven by demand primarily from the BFSI, manufacturing and real estate sectors.

Shailesh Davey, co-founder and vice president of Engineering of Zoho Corp said, “ManageEngine, and Zoho Corp as a whole, take pride in making significant investments in R&D. It has helped us stay relevant and grow over the last 25 years. We operate our own data centres, will be launching two more globally this quarter. We’re one of few vendors to support both on-premises and on cloud deployment models to manage hybrid IT infrastructure.”

Rajesh Ganesan, president, ManageEngine said, “With the rise in digital adoption, businesses are innovating with new possibilities and operating models in pursuit of their objectives. Managing complex digital infrastructures while complying with stringent compliance mandates is a top challenge for business leaders today.”