Expert: Russia’s cybersecurity market to grow 20%/yr next 5 yrs

MOSCOW, Aug 2 (PRIME) -- Russia’s cybersecurity market could expand to 469 billion rubles from 185.9 billion rubles in the next five years with the compound annual growth rate (CAGR) of 20% in 2026, Vladimir Bengin, development director at Positive Technologies, said on Tuesday.

From 2023, almost the whole budget of customers on the means of information protection in the sectors of business-to-government and business-to-business will be spent on the products of national vendors, Bengin said.

“It provides an opportunity of growth of this part of the market from 113 billion rubles in 2021 to 446 billion rubles in 2026, or four times,” he said.

(62.0506 rubles – U.S. $1)

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