Smart Government Market 2020: Latest Updates with Market Shares, Revenue, Topmost Industry Compotators by 2027 | Amazon Web Services, Inc., ABB Ltd., Avaya Inc., Capgemini S.A., Cisco Systems, Inc.

Smart government means the application of advanced technologies, innovative policies, and business models to address environmental, financial, and service challenges faced by government organizations. It is an extension of e-government, which applies communication, information, and effective technologies to all operational areas across multiple domains, process areas, and authorities to generate sustainable public value. The smart government market is categorized by the existence of numerous well-established and highly competitive market entities. These entities implement various strategies such as business acquisition, expansion, collaboration, partnership and technology development to gain competitive advantage and defend their market share. The market is also characterized by growth in R&D activities in recent years. The smart government market is projected to showcase remarkable growth in the coming years.

Rise in demand for smart technologies and digital mediums have attributed to high adoption of technological developments such as application development in the government sector. This has led to increased investments in smart government technologies, which, in turn, is expected to be a major driver for the smart government market.

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However, increase in sophistication of threats is expected to augment the impact of cyber-attacks in smart infrastructure, which is projected to be a major restraint for the smart government market. In addition, issues related to data privacy and data breach are also projected to restrain the market growth.

Moreover, increased revenue opportunities for the IT sector by working in collaboration with the government, aiding in smart governance is an opportunistic factor for entities functioning in the target market during the forecast period.

Use of technological communication devices, such as computers and Internet to provide public services to citizens in a country is known as e-government. Ultimate benefit of electronic government is to offer a portfolio of public services to residents in a well-organized and cost-effective manner. It permits for government transparency, as it allows public to be informed about what the government is working on as well as the policies they are trying to implement.

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The key benefit for employing e-government is to improve the efficiency of current system (Paper based system), which would in return save money and time. Thus, introduction of e-government is expected to facilitate better communication between governments and businesses. For instance, e-procurement services facilitates B2B and G2G communication and are expected to permit smaller business to compete for government contracts as well as larger business.

Advancements in science and technology increase the frequency of cybercrime. It is a threat to transactions accomplished between governments and public within the E-governance methodology. There is always a risk of private data theft of citizens stored in government sites. Cybercrime is a serious issue; a breach of data can make public lose confidence in government’s ability to govern people. Moreover, there are some opponents of E-government that argue that online governmental transparency is suspicious because it is maintained by government themselves. The information in any government website can be added or deleted from the public eyes these days. Only few organizations provide accountability for their modifications. Even governments themselves do not always keep track of the information they insert or delete.

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Major players analyzed include Amazon Web Services, Inc., ABB Ltd., Avaya Inc., Capgemini S.A., Cisco Systems, Inc., Entrust Datacard Corporation, Huawei Technologies co., Ltd., IBM Corporation, Nokia Corporation, Oracle Corporation, and UTI Group.

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