Big data, analytics, cloud solutions market
The growth rate of the Russian big data market is 5 times higher than that of the global market
In recent years, big data, cloud solutions and analytics systems have become one of the key drivers of the modern economy, acting as a tool for its digital transformation. Moreover, their implementation has become a task of national importance. In the following, we will discuss the main trends, challenges and prospects of the global and Russian markets for big data, analytics and cloud solutions.
Key indicators
Big data, cloud solutions and analytics have become one of the fastest growing high-tech sectors of the economy. For example, according to the Data Age Report, the volume of the global market for big data and analytics tools will exceed $220.2bn by the end of 2023, with a compound annual growth rate of 12%. Cloud solutions will see even greater growth, with spending on them totaling almost $670bn in 2023, 20% more than in 2022.
The Russian big data market shows impressive dynamics: its growth rate is about 5 times higher than the global one. To some extent, the "low base" effect plays its role, but we should not ignore the desire of Russian companies to implement the latest advances to optimize costs and improve competitiveness.
In turn, the cloud solutions segment is growing at 30-40% per year. This trend is driven by the benefits that cloud solutions offer cost optimization, enhanced data management and storage capabilities, and streamlined workflows.
One other feature of the Russian market for big data, analytics and cloud solutions is worth noting. Until 2022, almost 90% of the software was foreign solutions from Microsoft, Tableau, QlikTech, SAS. Now the share of domestic software products (1C-Bitrix, GlowByte) is growing steadily, both due to import substitution and better adaptation to Russian realities.
An interesting feature of the Russian market for big data, analytics and cloud solutions is the significant share of SMEs among the consumers of such solutions. For example, according to a survey conducted by the Demand Forecast project and the Compare marketplace, 44% of SME respondents use big data and analytics tools in their daily activities, and 20% use cloud solutions. These are primarily used to optimize current business processes and for forecasting. Nearly half (45%) of respondents said they have chosen to use home-grown software.
Trends and prospects
What will the market for big data, analytics and cloud solutions look like in the near future? According to expert estimates, the volume of investment in cloud solutions in our country will triple by 2030, and increase fivefold in the ten-year planning horizon.
Similar investment growth rates are expected in the big data and analytics segment. It is likely that the share of Russian software in the domestic market will continue to grow. Moreover, at the beginning of June 2024, the US introduced another sanctions package, including a ban on the sale of certain types of software.
In the near future, the share of solutions based on generative artificial intelligence will increase. Such algorithms can automate up to 65% of information search and collection and up to 70% of information analysis. Such tools are particularly valuable for consulting and forecasting firms, as well as financial institutions.
Another promising trend is the Internet of Things (IoT), the key element of which is the processing of huge amounts of data. The scope of IoT solutions is very wide: smart buildings (not only devices, but also a centralised facility management system), patient health monitoring, consumer preference tracking, and much more. For example, Yandex Cloud, together with Beltel Datanomics and Sechenov University, has developed a unique cloud-based platform of medical data that enables the study of new treatment methods using artificial intelligence.
Among the trends that characterize this segment is the trend towards data integration and centralization. This is relevant for both government (e.g. interdepartmental interaction in the provision of public services) and business (planning, forecasting, reporting). As the volume of stored data continues to grow, the ability to centralize it, to integrate different databases with each other, and to verify and maintain the relevance of the stored data is becoming increasingly important.
Three reasons to exhibit at ExpoCifra
The dynamic development of the market for big data, analytics and cloud solutions requires its participants to have their finger on the pulse of events and look for ways to jointly solve new, non-standard tasks. ExpoCifra, the new exhibition of information technologies and digital transformation solutions, is a platform for the development of such interaction. ExpoCifra will be an excellent business platform for specialists in the field of information technologies and digital transformation, automation, information security, as it will be held simultaneously and on the same platform with the leading high-tech exhibition of electronics in Russia ExpoElectronica.
Among the key reasons for participation in ExpoCifra 2025 is the demand for the segment among visitors. At ExpoElectronica 2024, 27% of respondents from the IT and digital solutions sector were interested in big data, cloud solutions and analytics.
The third reason is the opportunity to find new customers. It is no secret that competition between players in the market for big data, analytics and cloud solutions market players is growing, so the opportunity to shorten the path to a potential customer and quickly agree on cooperation becomes especially important. And participation in ExpoCifra 2025 will help to solve this problem: the exhibitions organized by ITE Group are visited year after year by specialists who hold senior positions in their companies and have a direct influence on purchasing decisions.
