IIDF named the 10 fastest growing tech industries in Russia

According to IIDF, the three fastest growing industries include FinTech, data management and cybersecurity.

As Dmitry Kalaev, director of the IIDF Accelerator and partner of the IIDF venture fund, whose words are quoted in the study, explains, the prospects of FinTech are associated with increased competition in the banking market. As a result, banks are seeking to improve customer service and expand offerings by creating ecosystems.

“Fintech companies are under strong pressure from big players. But the departure of foreign players, the end of pilot projects with Russian developers and staff shortages led to the emergence of new specialized services that are being integrated into the ecosystem of financial organizations. Growth drivers: cross-border transfers, “locked” money, digital channels, cryptocurrencies, invisible banking, import substitution,” Kalaev said.

The data management industry ranked second in terms of growth rate. It is developing in two directions: the trading of customer data and the search for strategic knowledge, the expert added.

“Many companies need to improve operational efficiency, but this cannot be done if data is not collected and processed,” Kalaev noted.

The cybersecurity industry ranked third in terms of growth. According to Kalaev, cyberattacks are no longer a threat, but a reality.

“This is due not only to military operations, but also to the increase in the number of penetration points, when even kettles and irons become “smart.” Therefore, more and more companies will implement information security solutions,” Kalaev said.

Also among the fast-growing industries are logistics, telecommunications, energy and other areas.

During in-depth interviews with representatives of IT companies, the IIDF identified the main reasons for business growth. These include “import substitution tailing,” “working hard to warm up the market,” “niching” (seeking an uncompetitive niche where you can become the number one player), and the use of targeting tools. product. At the same time, 75% of entrepreneurs surveyed believe they will be able to grow five-fold in the next three years, and 10% see the goal of doubling growth.