Public Cloud - Russia

  • Russia
  • Revenue in the Public Cloud market is projected to reach €4,109.00m in 2024.
  • Software as a Service dominates the market with a projected market volume of €1,404.00m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.18%, resulting in a market volume of €8,331.00m by 2029.
  • In global comparison, most revenue will be generated in the United States (€360.20bn in 2024).

Key regions: United States, Germany, China, Japan, United Kingdom

 
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Analyst Opinion

The Public Cloud market in Russia is experiencing moderate growth, driven by factors such as increasing demand for digital services, growing awareness of the benefits of cloud computing, and the convenience of online solutions. The sub-markets of Infrastructure, Platform, Software, Business Process, Desktop, and Disaster Recovery play a significant role in shaping this market's growth. However, the mild growth rate can be attributed to factors such as data privacy concerns, limited internet infrastructure, and slow adoption of new technologies in the region.

Customer preferences:
The rapid growth of the public cloud market in Russia can be attributed to the increasing adoption of digital solutions by consumers. This trend is driven by a desire for convenience and efficiency, as well as the need for remote access to services and data. As a result, there has been a surge in demand for cloud-based applications, including online shopping, entertainment, and communication tools. This shift towards digital lifestyles is also fueled by the younger generation's preference for technology-driven solutions in all aspects of their daily lives.

Trends in the market:
In Russia, the Public Cloud market is experiencing a surge in demand, driven by the increasing adoption of cloud-based solutions by businesses of all sizes. This trend is expected to continue as companies prioritize digital transformation and remote work capabilities. It also presents opportunities for industry players to offer innovative and customized cloud services to cater to diverse business needs. Additionally, the rise of hybrid cloud solutions and the integration of AI and machine learning technologies in the cloud are expected to further propel the market's growth. This has implications for stakeholders, such as cloud service providers, who must keep up with the evolving technological landscape to remain competitive and meet the changing demands of the market.

Local special circumstances:
In Russia, the Public Cloud Market is driven by the country's rapidly growing technology sector and the government's support for digital transformation initiatives. The market is also influenced by the unique geographical and cultural landscape, with a large population spread across a vast territory. Due to data privacy regulations, there is a strong demand for locally hosted cloud solutions, leading to the emergence of Russian-based cloud providers. Additionally, the country's complex political environment and sanctions from Western countries have created a need for domestically controlled cloud services, further fueling the growth of the Public Cloud Market in Russia.

Underlying macroeconomic factors:
The Public Cloud Market in Russia is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and technological advancements. The steady growth of the Russian economy and government initiatives to promote digital transformation have led to an increase in demand for public cloud services. Additionally, the country's large population and growing number of small and medium-sized enterprises are driving the adoption of cloud technologies for cost-effective and scalable solutions. However, economic sanctions and political tensions may hinder market growth in the region.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and level of telecommunications infrastructure. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

Vue d’ensemble

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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