Internet of things (IoT) defines as the connected devices through internet services to share, store, analyze, process and use the data for various operations or tasks. The internet of things (IoT) ecosystem is growing in Russia on the back of economic recovery of the country along with huge investment in manufacturing sector and smart infrastructure. The growing need of connectivity in the country due to rising tech savvy population further boost the demand for internet of things (IoT). The setting up of smart cities, smart power rids, 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.
The total number of IoT devices in Russia was over 15.5 Million in 2015. The rapid adoption of smart devices further expected to increase the number of smart and connected devices over 30 Million by the end of 2020. Moreover, the market of Russia IoT is expected to expand at a CAGR of 20.19% during the forecast period i.e. 2016-2023. The components segment is anticipated to showcase a tremendous growth on the back of spiked demand for handy and wearable devices in the country. The components segment is expected to contribute a market share of 65% by the end of 2023. Additionally, devices segment has dominated the overall market with a market share of ~72% in 2016. This segment is expected to maintain its dominance over the forecast period by registering a market share of 68% by the end of 2023 due to rising demand for smart devices.
The supply of internet of things (IoT) is likely to upsurge on the back of introduction of advanced and security enabled connectivity devices. The rapid pace research and development activities by the industry players help them to cater high end services to the consumers. The enhancement in smart devices in terms of design, efficiency and weight of the devices is one of the major factors which are responsible for the rising popularity of smart gadgets. On the other hand, the internet of things (IoT) ecosystem is rising in Russia allowing market players to focus towards the advancement in connectivity services. These initiatives further boost the demand of internet of things (IoT) industry in Russia.
Additionally, high cost of internet of things (IoT) devices and cost associated with the maintenance of IoT ecosystem are the two major risk factors for the Russia internet of things (IoT) market. Although, growing tech savvy population in Russia along with the rising personal disposable income of the population further spike the demand for smart devices and driving the demand for internet of things (IoT). Cost associated with the manufacturing of connectivity devices is the major reason behind the expensiveness of these products. Moreover, in order to provide secure connectivity services and devices, companies are spending more on cyber security. These spending further improve the security of connected devices and reduce the privacy concern of the consumers. Various public and private sector companies are shifting towards the digitization in order to reduce the time of operations and to provide better services. Government authorities in Russia are focusing towards the digitization of services for the population which reduces the complexity associated with services.
Moreover, advanced technology based smart devices and enterprise software accelerates the growth of enterprises and enhances the experience of consumers. In addition to this, rapid pace in digital industry has increased the adoption of advanced technology products and services in various industries. These digital services further drive the demand for internet of things solutions and services. Advancement in telecommunication services is providing ease to the consumers to adopt more technology based devices. The rising need of connectivity along with rising adoption of smart devices such as smartphones, tablets and others further boost the growth of Russia internet of things (IoT) market. Moreover, high range connectivity towers and introduction of higher bandwidth to enhance the communication services such as deployment of 4G networks is further impact positively on the growth of Russia IoT market. On the other hand, technological advancements in IT sector and growing trend of smart and high-end technology gadgets such as smartphones, tablets etc. are fostering the growth of internet of things (IoT) in Russia. However, lack of security and rising cases of cyber-attacks are creating cynicism among the users as well as the end-use industries to adopt internet of things (IoT). These factors are expected to hamper the growth of Russia Internet of Things (IoT) market over the forecast period i.e. 2016-2023. Real time streaming analytics software is used to analyze and provide the data of real time.
The sensors are connected to the hardware system which further analyze the data through software and transfer to user. The growing demand from the consumers to get real time updates about their orders and deliveries is one of the major factors which are encouraging the e-commerce and delivery companies to adopt this software. Moreover, the need of real time updates in various industrial processes such as manufacturing and production further boost the demand for real time streaming analytics software. The real time updates help various end-use sectors to increase their operational efficiency.
Our in-depth analysis segmented the Russia Internet of Things (IoT) market in the following segments:
Real-Time Streaming Analytics
Data Management Software
Remote Monitoring Software
Network Bandwidth Management Software
Transportation & Logistics
The key players of Russia Internet of Things (IoT) market as follows:
Key Product Offerings
Cisco Systems Inc.
Scope and Context
Overview of the Parent Market
The Russia Internet of Things (IoT) Market is segmented as follows:
By Components type Market Size and Y-O-Y Growth Analysis
By Software type Market Size and Y-O-Y Growth Analysis
By Application type Market Size and Y-O-Y Growth Analysis
Supply and Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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