Press release
Top Factor Driving Smart Government Market Growth in 2025: The Role Of Increased Investment In Smart Government Technologies In Driving Market Growth
Smart Government Market
The boost in the smart government market is anticipated to be fueled by higher investments in smart government technologies. Governments worldwide are elevating their expenditure on aspects like network management, cybersecurity, and other facets of smart governance, aimed at providing reliable, efficient, and secure services to their citizens. For example, The Office for National Statistics (ONS), a UK Government executive agency, reported in August 2024 that public funding worth $1.476 billion has been set aside for 2020 to 2025 to enable the expansion of gigabit-capable broadband to 85% of the UK by 2025, and to ensure full coverage by 2030. By 2022, $534 million had already been used, with a further $905 million reserved for spending for the 2023 - 2025 period. Consequently, the increased spending on smart government technology is predicted to spur the demand for smart government platforms and solutions throughout the projected timeframe.
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What growth opportunities are expected to drive the smart government market's CAGR through 2034?
The expansion of the smart government market has been swift in the last few years. The market, which was worth $37.67 billion in 2024, is predicted to surge to $43.8 billion in 2025, boasting a compound annual growth rate (CAGR) of 16.3%. Factors such as digital transformation schemes, the use of data analytics for enhanced decision-making, open data programs, intelligent infrastructure and urban strategies, blockchain for enhanced security and transparency, and emergency reaction and public safety have all contributed to this historical growth period.
Anticipations are high for the smart government market size to experience considerable expansion in the forthcoming years. By 2029, the market is set to reach $95.24 billion, with a compound annual growth rate (CAGR) of 21.4%. The growth during the forecasted period can be ascribed to factors such as planning for emergency response and resilience, the application of digital identity solutions, amplified stress on privacy and data protection, adoption of cloud computing for scalability, and a concentrated approach towards smart city initiatives. Key trends during the forecasted period comprise of acceleration in digital transformation, the integration of IoT for smart infrastructure, an accentuated focus on cybersecurity and data protection, employing blockchain for boosted transparency and security, urban planning and smart city initiatives, transparency through open data initiatives, and the implementation of renewable energy and sustainability programs.
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What are the emerging trends shaping the future of the smart government market?
The wave of technological progress is a growing trend in the smart government sector. Advancements in technology, such as the Internet of Things (IoT), are being progressively integrated into new systems and cloud solution platforms for improving government operations. The extensive application of IoT has reinforced the interaction between governments and citizens, leading to notable benefits for the public. IoT finds its application in proficiently managing smart city operations, offering integrated solutions aimed at uplifting community life. In February 2022, Rogers Business, a Canada-based tech and media company, rolled out a range of smart city and smart building IoT solutions to meet the escalating infrastructure needs of governments and institutions. The Smart Cities and Smart Buildings enterprise of Rogers Business will work in collaboration with various partners to create solutions, ranging from water leak detection sensors to AI-enabled traffic lights.
Which growth-oriented segments of the smart government market are leading the industry's development?
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
Subsegments:
1) By Open Data Platform: Data Portals, Data Visualization Tools, API Management Solutions
2) By Analytics: Predictive Analytics, Descriptive Analytics, Prescriptive Analytics, Geographic Information Systems (GIS)
3) By Government Resource Planning System: Financial Management Systems, Human Resource Management Systems, Asset Management Systems, Procurement Management Systems
4) By Security: Cybersecurity Solutions, Identity And Access Management, Physical Security Systems, Incident Response Tools
5) By Remote Monitoring: IoT Sensors And Devices, Environmental Monitoring Systems, Infrastructure Monitoring Solutions
6) By Network Management: Network Performance Monitoring, Network Security Solutions, Cloud Network Management, Traffic Management Systems
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What regions are leading the charge in the smart government market?
North America was the largest region in the smart government market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart government market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the smart government market?
Major companies operating in the smart government market include 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
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What Is Covered In The Smart Government Global Market Report?
•Market Size Forecast: Examine the smart government market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart government market for a structured understanding.
•Key Players Overview: Analyze major players in the smart government market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart government market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart government market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart government market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart government market.
•Competitive Landscape: Review strategic developments in the smart government market, including expansions, agreements, and new product launches.
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