Kenneth Research: Russia Internet of Things (IoT) Market Size, Demand, Opportunity & Growth Outlook 2023

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Internet of Things (IoT) can be defined as interconnection of smart devices and connected devices, sensors, actuators and network connectivity. It can be used to collect, exchange and process the data. The setting up of smart cities, smart power grids, smart home appliances, smart transportation and others are creating huge opportunities for the Internet of Things (IoT) solution and services providers to explore the untapped market of Russia. The Russian government's Internet start-up fund, FRII, has joined forces with tech giants GS Group and mobile operators Megafon, MTS, and VimpelCom to launch a national Internet of Things (IoT) consortium. In 2014, the fund increased its coverage to include emerging sectors such as wearable devices and the IoT.