The growing investment by the Russian government in IT infrastructure is one of the crucial factors triggering IoT market growth in Russia. In April 2018, the Russian government allocated around $53 million to finance priority activities for its state program – Digital Economy of the Russian Federation. These funds are expected to finance IT infrastructure and technology research centers and improve information security. Subsequently, the government’s focus on building a robust IT infrastructure will drive the IoT market growth in Russia.
The growing popularity of NB-IoT is identified as a key IoT market trend in Russia. NB-IoT is an LPWA technology enabling a high range of IoT devices and services, that require small amounts of data over a long period. Its benefits include low power consumption, low component cost, and easy deployment. Russia obtained one of its first labs based on NB-IoT technology in December 2017. In January 2018, the ‘State Government for Radio Frequencies’ allocated radio frequency bands for deployment of the network for IoT by NB-IoT standard. As a consequence of the factors mentioned above, the Russia IoT market forecast report predicts that the market will grow at a CAGR of over 18% during the forecast period.
Top IoT companies covered in this market research report
The IoT market in Russia is highly fragmented. By providing a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this Russia IoT industry analysis report will aid clients to identify new growth opportunities and design better strategies.
The report offers a complete analysis of various companies including:
IoT market segmentation based on technology
Gateways and cloud services
IoT market analysis in Russia reveals that sensors lead the market share and will account for the highest IoT market growth throughout the forecast period. This market research report with the IoT market will provide a detailed analysis of the changing market landscape across various segments throughout the globe.
IoT market segmentation based on end users
The industrial end users lead the Russia IoT market share and account for the highest market growth. Additionally, the report also provides an accurate prediction of the contribution of the various end users segments to the increase in the IoT market size in Russia.
Key highlights of the IoT market in Russia for the forecast years 2018-2022:
CAGR of the market during the forecast period 2018-2022
Detailed information on factors that will accelerate the growth of the IoT market during the next five years
Precise estimation of the Russian IoT market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the Russia IoT industry across industrial, consumer electronics, healthcare, retail, and other end users
A thorough analysis of the market’s competitive landscape and detailed information on several vendors
Comprehensive details on the factors that will challenge the growth of IoT companies
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