Remote access and remote control computer software solution TeamViewer has been in existence since 2005. The Germany-headquartered company set base in India in 2018. The software, like many other similar applications, saw an obvious spike in usage when the COVID-19 pandemic hit us in March 2020.
But along with its pros, work from home also came with its issues – communication barriers being one of them. To build better communication and monitoring systems, companies deployed productivity apps and remote access softwares to figure out the activity of their employees and engage better with them. TeamViewer is a popular choice among these applications.
Recently, the company appointed Rupesh Lunkad as managing director, India. He succeeded Krunal Patel, who played a pivotal role when TeamViewer was setting up its presence in India in 2018.
Essentially, it does not require registration and is free of charge for non-commercial use. There are three levels of paid commercial use the company provides:
While declaring the Q1 2022 results, Teamviewer CEO Oliver Steil talked about how the company has achieved double-digit growth on top of 2020’s and 2021’s strong first quarters, underlining the resilience of business despite general macroeconomic uncertainty and a more normalised working environment.
He emphasised that the Enterprise business is growing strongly with an ever-increasing contribution to the company’s success, and the Q1 2022 figures indicate that as well. It shows that there is continued momentum, with billings up 51% YoY to reach € 35.2 million. The Enterprise business accounts now for 22% of total billings, indicating a mix shift of the businesses.
Image: Inauguration of TeamViewer’s new R&D hub in Portugal
For Q1 2022, the billings are up by 12% compared to the previous year. There is strong retention of pandemic cohorts resulting in 101% Net Revenue Retention. The company informs that the SMB business is up 4% YoY, with higher quality tiers growing 15% YoY (LTM). The subscriber development is stable, with 620,000 at the end of Q1 2022.
Image: TeamViewer Quarterly Statement Q1 | 2022
Though most popular for its remote access software, that is not the only area TeamViewer caters to. In an interview with CNBC last year, Steil said, “We are active in different parts of the business. For large customers, we are back in the normal rhythm of pipeline building and a sales cycle of three to six months. We also have smaller tickets which have a sales cycle of a day or two.”
When asked if the company is expecting a drop in demand as the crisis felt in 2020 and 2021 has subsided, Steil adds that he looks at the situation differently.
“We have broadened our solution portfolio. We are looking at providing solutions with augmented reality and IoT that will really go into digitalising industries across the globe with very different use cases, like frontline worker enablement and remote IT management. So, there is much more to our business than working from home. WFH just led to some extra spike last year, but that’s actually only a part, and we are moving more and more to diverse use cases. Over the last few years, we have invested and put in more R&D. The solutions portfolio now consists of the entire value chain of businesses,” he adds.
Image: World Class After-Sales Support with xAssist for improved quality and faster service; TeamViewer
TeamViewer opened its doors to India in 2018 and appointed Krunal Patel as Head of Sales in the country. At that time, the company had talked about leveraging the market’s immense growth potential for enterprise as well as SMB remote access, collaboration and IoT solutions. In an interview in 2019, Patel said that one of the main reasons the company came to India is the growth the country is experiencing. The company wanted to have more Indian clients and better support Indian customers. The firm has customers coming in all shapes and sizes from across the country.
During the recent appointment of Lunkad, Sojung Lee, president of Asia Pacific, TeamViewer, said that this hiring would help to expand its footprint in the India market further and create a strong ecosystem of alliances with its partners.
There are many products in the market similar to TeamViewer that are giving it stiff competition. Some of them are:
Image: AnyDesk vs TeamViewer – Why AnyDesk Is the Better Alternative
While multiple competitors have cropped up, TeamViewer retains its long existence amongst users. Broadening its applications might be a good idea to sustain the competition and the shift back to work in offices.
Masterclass, Virtual How to achieve real-time AI inference on your CPU 7th Jul
Conference, in-person (Bangalore) Cypher 2022 21-23rd Sep
Conference, Virtual Deep Learning DevCon 2022 29th Oct
Stay Connected with a larger ecosystem of data science and ML Professionals
Discover special offers, top stories, upcoming events, and more.
The analytics industry recorded a substantial increase of 34.5% on a year-on-year basis in 2022, with the market value reaching USD 61.1 billion.
Debiased ML combines bias correction and sample splitting to compute scalar summaries.
Microsoft launched MS Word Online in 2020.
Even experts in this field spend close to 80 percent of their time cleaning up data, which is an absolute waste of humanity.
Do you want to know how to select best set of features using SVM.Here is a complete implementation.
7-Eleven has over 81,000 stores in 18 countries and regions. In India, the company is working with master franchisee Reliance Retail to modernise the small-retail environment and bring greater convenience to shoppers.
Blast radius is a way of measuring the total impact of a potential security breach.
Cohere says that Cohere For AI will work to solve some of the industry’s toughest challenges by contributing “fundamental research” to the open-source community.
Gradient ascent maximizes the loss function of the algorithm
Meta AI released PyTorch, an open-source machine learning platform, in 2016.
Stay up to date with our latest news, receive exclusive deals, and more.
© Analytics India Magazine Pvt Ltd 2022