Research: Russian cybersecurity market could grow by 10% in 2019

In 2018, the information security market in Russia grew by 10%, while the industry’s revenue amounted to 79.5 billion rubles. This year, growth rates will continue, analysts at TAdviser are convinced.

Review TAdviser: The volume of the information security market in Russia in 2018 increased by 10% https://t.co/NlnOdT3S63

– TAdviser (@TAdviser) July 19, 2019

The main drivers of the cyber security market, according to experts, are regulators who put forward new requirements for data protection.

Analysts also note that changes in legislation, the adoption of new regulatory legal acts and national technical standards in the field of information security are being prepared within the framework of the national Digital Economy program.

In particular, the changes will affect the functioning of the Russian segment of the Internet, the processing of personal data in social networks, the Internet of Things (IoT) and other areas.

In addition, the trend of import substitution also contributes to the development of the cyber security market in Russia.

As the head of Kaluga Astral's DITiZI, Dmitry Elfimov, noted at the end of 2018, the directive “On the preferential use of domestic software” was issued, according to which state corporations are now obliged to gradually replace the system and application software with analogues of domestic manufacturers.

“Thus, domestic decisions are beginning to occupy a denser niche and the money amounts taken into account when calculating a share in the framework of import substitution, increase significantly,” Elfimov said.

It is worth noting that in 2018 the growth rate of the Russian cyber security market for the first time coincided with the world average of 10%. At the same time, Russia's share in the global market still does not exceed 2%, said Kirill Kerzenbaum, Symantec Russia sales director.

Recall that on BlockchainJournal there is a detailed material about who is hacking digital systems and why, including in the cryptocurrency industry.

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