Global Smart Government Market Is Expected To Reach USD 75.70 Billion By 2027 At A CAGR Of 20.5 percent.
Maximize Market Research has published a report on the Global Smart Government Market that provides a detailed analysis for the forecast period of 2021 to 2027.
Global Smart Government Market Scope:
The report provides comprehensive market insights for industry stakeholders, including an explanation of complicated market data in simple language, the industry’s history and present situation, as well as expected market size and trends. The research investigates all industry categories, with an emphasis on key companies such as market leaders, followers, and new entrants. The paper includes a full PESTLE analysis for each country. A thorough picture of the competitive landscape of major competitors in the Global Smart Government market by goods and services, revenue, financial situation, portfolio, growth plans, and geographical presence makes the study an investor’s guide.
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Global Smart Government Market Overview:
The management of government and administration operations via the integration of intelligent information and communication technologies is referred to as Global Smart Government. Global Smart Governments employ information, operational, and communication technology in all operational areas across diverse domains, authorities, and process areas to provide long-term public value. Global Smart Government improves democratic processes and changes the delivery of public services since it is data-driven, citizen-centric, and performance-driven.
Global Smart Government Market Dynamics:
Demand for digital media and smart technologies has resulted in a surge in expenditures for Global Smart Government technologies throughout the world, which is projected to fuel market expansion. Furthermore, as a consequence of expanding census data (an ever-increasing population), collaboration with other areas, and the implementation of new policies/initiatives, government data creation has expanded dramatically. In contrast, legacy systems reliant on physical hardware may run out of space owing to inefficiency. As a result, demand for smart governance is growing, thus supporting market growth. Furthermore, rising data volume from diverse sources enables governments to be better equipped for digital transformation, which leads to the adoption of smart technologies.
Furthermore, the introduction of technology such as mobile applications, big data analytics, and social media technologies allowed individuals to engage with the government, further boosting the market growth. Rising consumer widespread use of digital technology and the need to secure data from various sources to process data for digitalization, rising adoption of cloud services, big data, and the Internet of Things (IoT), and progress toward the digital revolution are major factors driving the Global Smart Governments market, among others.
However, concerns about data privacy and data breaches, as well as limited financing and the resultant suspension of government project development in the middle of the forecast period, may limit market growth to some extent throughout the forecast period. On the other side, the rising acceptance of cloud computing by governments in a significant number of nations gives the industry attractive growth opportunities. For example, the Idaho State Controller’s Office established the Clear Idaho initiative in June 2019 in collaboration with OpenGov, a cloud software supplier for government budgeting, communications, and performance.
Global Smart Government Market Regional Insights:
Cloud technologies are driving transformation in Asia-Pacific. Large firms are putting their cloud data centers in Asia-Pacific due to the increasing use of smartphones and tablets. The governments of Australia and Singapore consider cloud services as having the potential to enhance government service delivery results by removing redundancy, increasing agility, and providing information and communication technology services at a reduced cost. In response to the coronavirus pandemic, the government of India used public financial management system (PFMS) technology to direct benefit transfer (DBT) more than INR 36,600 crore to the bank accounts of 16 Crore beneficiaries between March 24 and April 17, 2020.
Global Smart Government Market Segmentation:
By Types:
- Solution
- Government resource planning system
- Security
- Analytics
- Remote monitoring
- Network management
- Open data platform
- Service
- Professional services
- Managed services
By Deployment Mode:
- Cloud
- On-premises
Global Smart Government Market Key Competitors:
- Amazon Web Services, Inc.
- ABB Ltd.,
- Capgemini S.A.
- Entrust Datacard Corporation
- Huawei Technologies Co., Ltd.
- IBM Corporation
- Nokia Corporation
- Oracle Corporation
- Symantec Corporation
- Avaya Inc.
- Cisco Systems, Inc.
- Hughes identification Devices Global Corporation
- Imex Systems, Inc.
- OpenGov
- Socrata
- UTI Group.
- Global Corporation
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