Although Russia’s total share of the global cloud storage market is still under 1%, the sector is undergoing a boom as foreign companies hire local service providers to store Russians’ data, a recent study by iKS-Consulting revealed.
Adopted in 2014, Russia’s personal data law requires companies operating in Russia to store Russian users’ or clients’ personal data on servers physically located in the country.
Thus, in 2018, the country’s cloud services segment grew by 25% year-on-year to 68.4 billion rubles ($1.1 billion), and about 70% of that is accounted for by SaaS (Software as a Service).
New regulations boost Russia’s cloud service businessesRead More
