THE GLOBAL MANUFACTURING & INDUSTRIALISATION SUMMIT

KNOWLEDGE HUB

IoT in Russia: A New Dimension of Digitialisation

DESCRIPTION

According to Reuters, Russia's Internet of Things (IOT) market is expected to reach $74 trillion by 2023, growing an annual compound growth rate of 19.62% from $21.1 trillion in 2016.28 By 2020, Russia is anticipated to become Europe's biggest consumer market and the fourth biggest worldwide. Anticipated growth in pharmaceuticals, cosmetics, electrical appliances and the automotive sector are expected to stimulate Russia's Internet of Things (IOT) market growth in the coming years.

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