The Russian Cybersecurity Market Continues to Grow Despite Geopolitical Challenges
The Russian cybersecurity market continues to grow and develop, despite geopolitical difficulties and sanctions. According to the latest report from the CSR (Cybersecurity Research), Russian vendors of information protection means are strengthening their positions in the market, with a share of 70% in 2022, compared to 61% in 2021. This indicates a significant increase in their market dominance while the share of foreign products continues to rapidly decrease.
Geopolitical events in 2022 did not harm the Russian cybersecurity market; instead, they served as an incentive for further active development. Russian vendors have a powerful portfolio of products and services and are quickly occupying the vacant market. The report states that approximately 60 billion rubles worth of market share will be captured by Russian vendors over the next 2 years, based on existing developments and decisions. The leaders in the market include Kaspersky Lab, Positive Technologies, Bi.zone, Check Point Software Technologies, and Rostelecom-Solar.
According to the CSR, the cybersecurity market in Russia reached an estimated value of 193.3 billion rubles in 2022, representing a 4% increase compared to 2021. This growth defied predictions of a 10% decline due to various market factors. The events that unfolded in 2022 contributed to the development of the domestic cybersecurity market, which is expected to accelerate its growth rates to 31% starting from 2023, gradually decreasing to 18%. By 2027, it is projected that domestic developers will dominate 95% of the entire market.
The overall market volume is expected to grow at a compound annual growth rate (CAGR) of 24% from 2022 to 2027, reaching 559 billion rubles by 2027. Russian vendors are expected to capture a significant portion of this volume, amounting to 531 billion rubles. The services market, in particular, is projected to be valued at 145.3 billion rubles in 2027, compared to 49.