Market Insights Technology Cybersecurity Cyber Solutions

Network Security - Russia

Russia

The Network Security market in Russia is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$261.40m by 2024.
Furthermore, it is anticipated that there will be an annual growth rate of 7.54% from 2024 to 2029, resulting in a market volume of US$376.00m by the end of the latter year.
When examining the average Spend per Employee in the Network Security market, it is estimated to reach US$3.56 in 2024.
This indicates the level of investment and resources allocated to ensuring robust network security measures.
In terms of global comparison, it is noteworthy that United States is expected to generate the highest revenue in this market.
Projections indicate that by 2024, United States will generate a staggering US$10,830.0m in revenue.
This highlights the dominance of the United States in the Network Security market on a global scale.
Despite rising cyber threats, Russia's network security market is rapidly growing, driven by increased government investments and a strong demand for protection against cyber espionage.

Key regions: United States, Germany, Saudi Arabia, Brazil, Chile

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses B2C, B2B and B2G enterprises. Figures are based on security spending excluding VAT and the number of cyberattacks.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial statements of the market-leading companies and industry associations, national statistical offices, and specific countries’ security organizations (e.g., German Cyber Security Council, Canadian Centre for Cyber Security). Furthermore, we use relevant key market indicators and data from country-specific associations, such as GDP and internet penetration. This data helps us to 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 particular market. Possible techniques are, for example, exponential trend smoothing and the autoregressive integrated moving average (ARIMA) forecasting algorithm. The main drivers are GDP, internet users, level of digitization, and consumer attitude towards data and IT security.

Additional notes:

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