Press release
Smart Government Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
Smart Government Market
The Business Research Company offers in-depth market insights through Smart Government Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The smart government market size has grown rapidly in recent years. It will grow from $32.77 billion in 2023 to $38.48 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to digital transformation initiatives, data analytics for informed decision-making, open data initiatives, smart infrastructure and urban planning, blockchain for security and transparency, emergency response and public safety..
The smart government market size is expected to see rapid growth in the next few years. It will grow to $77.47 billion in 2028 at a compound annual growth rate (CAGR) of 19.1%. The growth in the forecast period can be attributed to emergency response and resilience planning, digital identity solutions, greater emphasis on privacy and data protection, cloud computing for scalability, focus on smart city initiatives.. Major trends in the forecast period include digital transformation acceleration, iot integration for smart infrastructure, focus on cybersecurity and data protection, blockchain for transparency and security, smart city initiatives and urban planning, open data initiatives for transparency, renewable energy and sustainability programs..
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Market Segmentation:
The smart government market covered in this report is segmented -
1) By Type: Open Data Platform, Analytics, Government Resource Planning System, Security, Remote Monitoring, Network Management
2) By Deployment: On Premise, Cloud
3) By Component: Solution, Services
Major Driver - The Role Of Increased Investment In Smart Government Technologies In Driving Market Growth
The increased investment in smart government technologies will propel the growth of the smart government market. Government institutes across the globe are increasing spending on network management, cybersecurity, and other smart government, to deliver dependable, effective, and security services to their people. For instance, in January 2021, the US government announced $10.2 billion of investments in Federal information technology modernization to fend off potential cyberattacks and IT issues. It is a crucial step in realigning US cyber defenses to increase faith in the US government's capacity to provide reliable and secure services. Therefore, the increased investment in smart government technologies is expected to boost demand for smart government platforms and solutions during the forecast period.
Competitive Landscape:
Major companies operating in the smart government market report are ABB Ltd., Amaon Web Services Inc., Avaya Inc., Capgemini SE, Cisco Systems Inc., Entrust Datacard Corporation, Huawei Technologies Co. Ltd., International Business Machines Corporation, Imex Systems Inc., Nokia Corporation, OpenGov, Oracle Corporation, UTI Group, Decidium, CitizenLab, Hughes Identification Devices (HID) Global Corporation, Atos SE, CGI Inc., Cognizant Technology Solutions Corporation, DXC Technology, Fujitsu Ltd., HCL Technologies Limited, Hitachi Ltd., Infosys Limited, NEC Corporation, NTT DATA Corporation, SAP SE, Tata Consultancy Services, Tech Mahindra Limited
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Top Trend - Smart Government Advancements Through IOT
Technological advancement is a new trend gaining popularity in the smart government market. Technological advancements such as the Internet of Things (IoT) are increasingly incorporated into new systems and cloud solutions to make government activities more efficient. The widespread use of IoT technology has strengthened the government-citizen interaction, providing a strong case for public benefit generation. IoT is used in smart city operations to build and provide interconnected solutions for a community's well-being. In February 2022, Rogers Business, a Canadian-based technology, and media firm developed a suite of internet of things (IoT) smart cities and smart building solutions to fulfill the rising infrastructure demands of governments and organizations. The Rogers Business Smart Cities and Smart Buildings business will collaborate with various vendors to develop solutions from water leak detection sensors to AI-powered traffic signal capabilities.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Smart Government Market Characteristics
3. Smart Government Market Trends And Strategies
4. Smart Government Market - Macro Economic Scenario
5. Smart Government Market Size And Growth
…..
27. Smart Government Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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