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est players in the market estimated to reach RUB500bn-800bn ($7.6bn-$12.2bn) in the next five years.
The association told Kommersant that market participants did not participate in drafting the bill that is currently being studied. "Already at this stage we can note that over-regulation will slow down the development of the big data market in Russia," a representative of the association said, adding that coining a single definition of Big Data in its entirety is counterproductive given the fast pace of change of the technological capabilities.
Russian internet majors create Big Data association
The Association of Big Data Market Participants has been established by Russian internet and digital services majors Yandex, Mail.ru, MegaFon, oneFac- tor, and Tinkoff Bank, Kommersant daily reported on October 17. The association will be headed by the COO of MegaFon Anna Serebryanikova.
The association will draft united practices and standards of big data processing, storage, and use, setting the rule of the game for the larg-
est players in the market estimated to reach RUB500bn-800bn in the next five years.
Serebryanikova told the daily that state integrated telecom major Rostelecom and Gazprombank also plan to join the association.
The market for commercial data processing cen- tres (DCPs) in Russia expanded by 10.6% year-on- year in 2017 to RUB23.6bn ($345mn), with a total of 36,000 server points installed last year, while domestic B2B cloud services enjoy rising demand.
Previously in October Rostelecom and Russian Union of Entrepreneurs and Industrialists (RSPP) have proposed the introduction of a special Virtual Economic Zone that would remove red tape and boost Russia's share on the global market of data centres from 0.9% to 5% by 2024.
Reportedly Rostelecom and RSPP argue that Rus- sian DCPs could be competitive globally thanks to competitive advantages such as cheap energy, low temperatures and lower cooling costs, inexpensive and qualified labour force, and solid quality of do- mestic data centres and IT systems. However, only an estimated 1% of Russian DCP market capacity is exported.
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