![]() ![]() Data privacy in Russia is taken quite seriously, and considering compliance is a major issue for international companies when expanding, entering a country with a clear set of legal requirements actually makes the process of moving into the country and using Russian cloud services comparatively easy. While the Russian government’s reputation is not sterling in the political sphere, business leaders see a lot of good there. ![]() Despite the pandemic, the demand for cloud PBXs, virtual call centers, and other office software to help transition organizations to a remote/hybrid format proved to be the main driver of this increase. Somewhat surprisingly, Covid did not slow those projections down, with the Russian cloud service market growing by 24% in 2020 to a total value of about $1.3 billion. Although Russia’s current share of the global cloud storage market is around just 1%, both pre- and post-Covid projections show the sector has room to grow, with earlier projections sitting around 23% year-over-year growth and a $3.4 billion evaluation by the end of 2022, per iKS-Consulting’s research. Russia was later to the game in embracing cloud services than other countries, but that may have worked to the nation’s advantage, as it is sitting on a massive cloud boom. ![]()
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