Global Smart Government Market Overview
The key drivers impacting the smart government market are the growing government initiatives for digital transformation and augmented investments in smart government technologies. Moreover, the technological advancements leading to increased investments in smart government technology contribute to smart government market demand in the later years.
According to Value Market Research, the global smart government market size was valued at about USD 20.7 billion in 2020 and is estimated to grow at a CAGR of around 20% during the forecast period 2021 to 2027.
The growing data from multiple sources that allow the government to process them for digital transformation will likely augment the need for smart governments in the forecast period. Also, the rising adoption of SMAC (Social, Mobile, Analytics, and Cloud) is positively impacting the market growth. However, the lack of uniform laws and regulations on data sharing hampers the market in the long run. In addition, data privacy and data theft-related issues impede the market growth. Nevertheless, the market trends, such as increased revenue opportunities for the IT sector by collaborating with the government, might provide considerable opportunities to the market's leading players.
The smart government market is widespread, with many local and international players. The market leaders follow numerous strategies such as extending product portfolio, amalgamation, contracts, acquisitions, product upgrades to mount their market share globally. The key players in the report are Capgemini SE, Amazon Web Services, Inc., Cisco Systems, Inc., Entrust Datacard Corporation, Huawei Technologies Co., Ltd., IBM Corporation, Imex Systems Inc., Nokia Corporation, Oracle Corporation, Symantec Corporation, ABB Ltd., Avaya Inc., Hughes Identification Devices (HID) Global Corporation, OpenGov, Inc., Socrata, Inc. and UTI Grup Ltd.
In this research report, the smart government market is segmented by type, deployment, and region.
Analysis by Type:
By Type, the report is divided into Solution (government resource planning system, security, analytics, remote monitoring, network management, open data platform, others), Service (professional services, and managed services). The professional services segment dominates the type segment with the highest market share in 2020. It is due to the increased need for technological consulting and continuous support and maintenance activities to deploy smart technologies.
Analysis by Deployment Type:
By deployment type, the report is segmented into hosted/cloud and on-premises. The cloud segment dominates the deployment type segment with the highest share in 2020. It is owing to the increased adoption of cloud services by government agencies to achieve cost benefits, real-time access, and zero maintenance downtime. Moreover, the cloud acts as a trustworthy option for the storage of government data, as government budgets are imperfect, and on-premise solutions are becoming costly with a rising volume of data contributing to the growth of the cloud deployment segment.
Analysis by Region:
In the regional outlook of the global smart government market, the North America region dominates with the largest market share in 2020. It is due to the increased penetration of smart technologies, such as big data, the Internet of Things (IoT), analytics, and cloud computing. Moreover, the technical advancement and massive utilization of mobiles and tablets in the region contribute to the tremendous market growth across North America.
Market Segmentation covered in the Report:
By Type
- Solution
- Government resource planning system
- Security
- Analytics
- Remote monitoring
- Network management
- Open data platform
- Others
- Service
- Professional services
- Managed services
By Deployment Type
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.