The Global smart government market is forecasted to reach to USD 37 Billion by 2023 growing with a striking double digit - 19% of CAGR during forecast period 2016-2023.
Smart Government Market Overview:
According to a recent study report published by the Market Research Future, The global market of Smart Government is forecasted to gain prominence over the forthcoming years due to the growing demand for digital mediums and smart technologies attributed to technological advancements.
High acceptance for cloud computing, even in countries that tend to be concerned about data privacy and security has driven the Smart Government global market.
Cloud computing offers great potential to securely store and share government and citizen data, thereby eliminating the need for departments to house and manage their own IT infrastructure. It helps reduce operating costs and drive much higher efficiencies for the back office and front office.
Smart Government relies on information systems and communication networks. It uses business models, innovative policies and technology for making everyday challenges easier.
Major driving factors for the growth of smart government market are growing demand for digital mediums and smart technologies owing to technological advancements. Increasing demand for technological advancements and emerging technical adoptions is helping in driving investments in the smart government market.
Additionally, growing data from multiple sources allowing the governments to process them for digital transformation, leading to the adoption of smart technologies consecutively driving the market growth of Smart Government.
However, the Smart Government market is anticipated to face some of the growth restricting factors such as inadequate funding that negatively impacts the development of government projects and the lack of uniformity in laws and regulations in data sharing by government agencies across ministries and services.
Major Key Players:
- Amazon Web Services, Inc. (U.S.)
- Capgemini SE (France)
- Cisco Systems, Inc. (U.S.)
- Entrust Datacard Corporation (U.S.)
- Huawei Technologies Co., Ltd. (China)
- IBM Corporation (U.S.)
- Imex Systems Inc. (Canada)
- Nokia Corporation (Finland)
- Oracle Corporation (U.S.)
- Symantec Corporation (U.S.)
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Smart Government Global Market – Competitive Analysis
Characterized by the presence of several major well-established players, the global Smart Government Market appears to be highly fragmented and competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position.
Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. The Key players operating in the market compete based on pricing, technology, reputation and services.
These Players invest heavily in the R&D to develop a technology that is on a completely different level compared to their competition. These Key players strive to develop products with the adept technologies, unrivalled design and features.
Smart Government Market Segments:
The Smart Government Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Solution: Comprises Government Resource Planning System, Security, Analytics, Remote Monitoring, Open Data Platform, Network Management and other.
Segmentation by Service: Comprises Professional Services, Managed Services.
Segmentation by Deployment: Comprises Cloud, On-Premise.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Segment - Remote Monitoring Solutions on the basis of solution is expected to grow at the fastest rate during the forecast period. Remote monitoring helps in tracking the assets, provides safety and offers maximum efficiency.
Another reason for the growth of remote monitoring segment is the decrease in the costs of sensors which is making deployment of solutions feasible.
Smart Government Market Regional Analysis:
The global smart government market, by geography, has been segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South America. It has been observed that North America is estimated to account for the largest share of the market.
The major growth in Smart government market in North America attributes to the technical advancements and increasing use of mobiles and tablets in that region.
Across Europe, countries including Germany, France and the U.K. are anticipated to drive the growth of smart government market.
In Europe, the presence of advanced infrastructure ensures higher penetration of mobile devices which ultimately helps in driving the market growth.
Smart government market in the South America region is anticipated to witness relatively slower market growth. However, Brazil and Argentina among other countries are projected to witness slow yet steady growth.
Smart government market in Middle East and Africa occupies a relatively smaller pie of the global smart government market. Within Middle East and Africa counties including UAE, South Africa and Saudi are driving the growth.
Here smart government is gaining popularity and is expected to increase significant market share during the forecast period.
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Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
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