Market Research Future (MRFR) recognizes the following companies as the key players in the smart government market – 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.) and Symantec Corporation (U.S.) among others.
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Smart government market is estimated to exhibit high growth potential during the forecast period owing to increasing popularity of data analytics and rapid growth in the use of smartphones and digital platforms. Smart government market has been segmented on the basis of solution, service and deployment. The deployment segment comprises of cloud and on-premise deployment. The cloud deployment is expected to grow at the highest rate during the forecast period owing to increasing adoption of cloud services which offer flexible data retrieval and real time access. Cloud services are cost effective and they require no maintenance as they are not stored on the server which ultimately reduces the costs of deployment.
Major factors driving the growth of smart government market are increased need for security and more feasible business operations. Smart government relies on cross domain interoperability which helps in integrated planning and flexible business operations. Increasing demand for a better and a more digitized lifestyle is another factor driving the growth of smart government market. Big Data is another factor that continues to present government with information management and processing issues that exceed the capability of traditional IT that helps in supporting the use of information assets which ultimately helps in managing of data for the smart government projects.
The major restraining factor in the growth of smart government market is the low funding for smart government projects. Due to this, the growth can be affected and can cause hindrance in the development of smart government projects.
According to Market Research Future Analysis, Smart Government Market has been valued at approx. USD 37 Billion by the end of forecast period with 19% of CAGR during forecast period 2018 to 2023.
MRFR’s report offers a segmental analysis of Smart Government Market based on service (managed services and professional services), by solution (security, remote monitoring, government resource planning system, and analytics) and deployment (on-premise and cloud). The remote monitoring solutions segment is projected to witness a relatively higher growth rate over 2023. Development of advance and cost effective sensor technology is playing an imprint role in improving remote monitoring solutions.
On the basis of region, the global market for smart government is segmented into Europe, North America, Asia Pacific and rest of the world (RoW). The market in North America is expected to remain highly lucrative throughout the assessment period. Presence of leading technology companies and increasing trends of digitization is reflecting favourably on the region’s market. Meanwhile, Asia Pacific is expected to exhibit the highest CAGR from 2017 to 2023.
The ever-changing world and transforming societies along with demographics place new challenges for the public sector. This where smart government becomes an essential requirement for government organizations to deliver effective governance. Under smart government, innovative business model and development policies are fostered with the help of technology to address the environmental, financial and service issues present in public sector organizations. Today, the expectations of civilians have increased; they demand efficient, accountable and responsive services from government bodies. It is observed has the tolerance for bureaucratic discrepancies has gone down. Governments simply cannot afford to have poor communication between isolated departments or sluggish systems and processes. In order to bolster the public sector organizations, efforts are being made to implement smart policies. Factors as such are driving smart government deployments in various countries across the globe. A recent study conducted by Market Research Future (MRFR) reveals that the global market for smart government will expand at a robust CAGR of 19% between 2017 and 2023 to reach a valuation of USD 37 Billion.
Latest Industry Highlights:
- Entrust Datacard, a prominent provider of secure transaction technologies recently announced the that it has partnered with Cloud Security Alliance (CSA) to secure and improve cloud computing environment.
- The UAE government has recently flagged off an emerging technologies start-up competition, “GovHack Series” on a global scale. The competition will be held in eigth major cities across the globe. Reportedly, this will be the sixth edition of GovHack Series.
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Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
Smart government market can be segmented on the basis of solution, service and deployment. The service segment is further bifurcated into professional services and managed services. Out of these, professional services sector is expected to grow at the highest CAGR during the forecast period owing to continuous need of support, maintenance and consulting activities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
- Technology investors
- Research/Consultancy firms
- System integrators
- Cloud service providers
- Security service providers
- Local, state, and central governments
- Government organizations
- Government consultants and advisors
- Analytics solutions and services providers
- Professional and managed services providers
TABLE OF CONTENTS
1 MARKET INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.3 MARKET STRUCTURE
2 RESEARCH METHODOLOGY
2.1 RESEARCH TYPE
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
2.4 FORECAST MODEL
2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST
2.4.2 MARKET SIZE ESTIMATION
3 MARKET DYNAMICS
LIST OF TABLES
TABLE 1 SMART GOVERNMENT MARKET, BY SOLUTION
TABLE 2 SMART GOVERNMENT MARKET, BY SERVICE
TABLE 3 SMART GOVERNMENT MARKET, BY DEPLOYMENT
TABLE 4 SMART GOVERNMENT MARKET, BY REGIONS
TABLE 5 NORTH AMERICA SMART GOVERNMENT MARKET, BY SOLUTION
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LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 SMART GOVERNMENT MARKET, BY SOLUTION (%)
FIGURE 3 SMART GOVERNMENT MARKET, BY SERVICE (%)
FIGURE 4 SMART GOVERNMENT MARKET, BY DEPLOYMENT (%)
FIGURE 5 SMART GOVERNMENT MARKET, BY REGIONS (%)
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