Press release
2025-2034 Smart Government Market Roadmap: Insights for Competitive Advantage
Smart Government Market
How Large Will the Smart Government Market Size By 2025?
The market size of the smart government has seen a swift expansion in the past few years. It is projected to rise from $37.67 billion in 2024 to $43.8 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 16.3%. The previous period's growth can be linked to the implementation of digital transformation strategies, the use of data analytics for better decision-making, the adoption of open data initiatives, strategic planning for smart infrastructure and urbanization, the application of blockchain for enhanced security and transparency, and improved emergency response and public safety measures.
How Big Is the Smart Government Market Size Expected to Grow by 2029?
Over the next few years, the smart government market is projected to experience a significant growth surge, expanding to reach a staggering $95.24 billion by 2029, facilitated by a compound annual growth rate (CAGR) of 21.4%. The forecasted growth is chiefly attributed to factors such as the need for emergency response and resilience planning, emphasis on privacy and data protection, digital identity solutions, adoption of cloud computing for scalability, and an increased focus on smart city initiatives. The forecast period is also expected to see trends such as accelerated digital transformation, integration of IoT for intelligent infrastructure, emphasis on cybersecurity and data protection, use of blockchain for improved transparency and security, urban planning and smart city initiatives, open data campaigns for transparency, as well as initiatives towards renewable energy and sustainability.
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Which Key Market Drivers Powering Smart Government Market Expansion and Growth?
The surge in allocation towards smart government technologies is set to spur the smart government market's expansion. Worldwide, government institutions are escalating their expenditures on network management, cybersecurity, and other smart government facets, ensuring reliable, efficient, and secure services for their citizens. For example, in August 2024, The Office for National Statistics (ONS), a UK Government executive agency, reported that public funding worth $1.476 billion had been designated for the 2020-2025 period. This funding aims to enable the launch of gigabit-capable broadband to 85% of the UK populace by 2025 and attain complete coverage by 2030. Up until 2022, $534 million of this fund has been put into use, and an extra $905 million is reserved for spending between 2023 and 2025. Thus, the augmented investment in smart government technologies will likely stimulate the need for smart government platforms and solutions in the projected period.
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Which Fast-Growing Trends Are Poised to Disrupt the Smart Government Market?
The rise of technological innovations is a recent phenomenon gaining traction in the sphere of smart governance. Incorporating cutting-edge technologies such as the Internet of Things (IoT) into contemporary systems and cloud-based solutions aids in improving the efficiency of governmental processes. IoT deployment has proved beneficial in enhancing dialogue between the government and its citizens, consequently bolstering public welfare generation efforts. IoT finds applicability in the administration of smart cities, whereby it is utilized in creating and delivering interconnected solutions meant to elevate the quality of life within a community. In a recent development in February 2022, Rogers Business, an entity that operates within the technology and media landscape in Canada, crafted a specialized suite of Internet of Things (IoT) smart city and smart building solutions to cater to the burgeoning infrastructure necessities of governments and organizations. Rogers Business Smart Cities and Smart Buildings undertakes partnerships with different vendors to formulate solutions ranging from water leakage sensors to traffic signals powered by artificial intelligence.
What Are the Emerging Segments in the Smart Government Market?
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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the Smart Government Industry?
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
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