Russia’s AI Market Projected to Reach Nearly $24 Billion in 2025

Analysts forecast that Russia’s artificial intelligence market will grow by nearly a third this year, driven by rapid adoption across key industries despite global economic headwinds.

Russia’s AI market is expanding at an accelerated pace and could hit a record 1.9 trillion rubles (about 23.7 billion USD) by the end of 2025, according to a forecast from analytics firm Smart Ranking, cited by Pervyy Tekhnicheskiy. The projection suggests growth of 25 to 30 percent compared with the previous year.

The main driver of this surge is the active integration of AI solutions into critical sectors of the economy. Machine learning and data analytics technologies are becoming essential for telecommunications, finance, retail, cybersecurity, and government services.

The country’s largest technology companies are leading the charge in digital transformation through AI. Data from 2024 show that the top five players by AI monetization include Yandex, with 500 billion rubles (about 6.25 billion USD, +49%), Sber at 400 billion (about 5 billion USD, +14%), T-Technologies (T-Bank) at 350 billion (about 4.4 billion USD, +16%), VK at 119 billion (about 1.5 billion USD, +26%), and Kaspersky Lab at more than 49 billion (about 613 million USD, +7.5%).

Together, these five companies account for up to 95 percent of the market’s revenue. Yet analysts note that despite the dominance of these giants, specialized startups and research centers have significant potential to compete in niche segments.