Press release
Smart Government Global Market Report 2024 - By Drivers, Size, Share, Growth, Forecast To 2033
Smart Government Market
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.
Market Overview -
Smart government solutions are used to manage business activities connected to government and administration, in which interconnected devices and cyber-physical systems are used by intelligently networked governance and administration to accomplish public tasks efficiently and effectively.
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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, Accenture* PLC, 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
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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