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Russia Internet of Things (IoT) Market Size, Demand, Opportunity & Growth Outlook 2023Internet of Things (IoT) can be defined as interconnection of smart devices and connected devices, sensors, actuators and network connectivity. It can be used to collect, exchange and process the data. The setting up of smart cities, smart power grids, smart home appliances, smart transportation and others are creating huge opportunities for the Internet of Things (IoT) solution and services providers to explore the untapped market of Russia. The Russian government’s Internet start-up fund, FRII, has joined forces with tech giants GS Group and mobile operators Megafon, MTS, and VimpelCom to launch a national Internet of Things (IoT) consortium. In 2014, the fund increased its coverage to include emerging sectors such as wearable devices and the IoT. There are currently over 10 Russian startups developing technologies for IoT data exchange. Moreover, technology startups in Russia are one of the major trends which are raising the popularity of connected devices. The Russia IOT market is expected to expand at a CAGR of 19.62% during the forecast period of 2016-2023. Further, the Russia Internet of Things (IoT) market is expected to reach USD 74.0 Billion by 2023. The market growth is anticipated to be driven by the advancement in communication technology and rise in digitalization of businesses and systems in Russia. Further, the large scale adoption of smartphones and increasing number of smartphone users in the country is expected to expand the market growth. Moreover, the private and government corporate agencies are adopting innovative digital technologies which are expected to increase the demand of the Russia Internet of Things (IoT) market. The growth of the market is primarily driven by the rise in the adoption of smart devices and gadgets. The digitalization of businesses and systems in Russia further encouraging the population to adopt smart devices and gadgets to remain connected. These factors are expected to propel the growth of internet of things (IoT) market. Further, growth in IT sector is expected to spur the demand for internet of things (IoT) devices and software. Advancement in communication technology and advanced connectivity services are expected to propel the demand for internet of things (IoT) devices. The low cost data services are encouraging people to adopt advanced communication services. The Russian telecom market is the largest in Europe, supported by a population of about 147 million. Telco's continue to deploy and modernize fixed-line network infrastructure to offer improved broadband services as well as a range of IP-delivered content. Additionally, the government is investing billions of dollars in a 200,000 km telecom network which will provide a 10Mb/s broadband service to thousands of undeveloped villages. These advancements and government policies further boost the demand for IoT device and software. For more information kindly visit : https://www.bharatbook.com/information-technology-market-research-reports-892110/russia-internet-things-iot-demand-opportunity-growth.html As a community-building service, TMCnet allows user submitted content which is not always proofed by TMCnet editors. If you feel this entry is of inferior quality or wish to report it for some reason, please forward the URL to "webedit [AT] tmcnet [DOT] com" with your comments. |