Press release
The Role Of Increased Investment In Smart Government Technologies In Driving Market Growth: Critical Driver Shaping the Global Smart Government Market in 2025
Smart Government
Smart Government Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the smart government market has seen swift expansion in the last few years. The market value is set to increase from $37.67 billion in 2024, to $43.46 billion in 2025, experiencing a compound annual growth rate (CAGR) of 15.4%. This expansion during the historic period can primarily be traced back to initiatives such as digital transformation, data analytics for sound decision-making, open data measures, intelligent infrastructure and urban development, the application of blockchain for enhanced security and transparency, as well as emergency response and public safety measures.
Smart Government Market Size Forecast: What's the Projected Valuation by 2029?
In the upcoming years, the sheer size of the smart government market is projected to surge significantly. The market is anticipated to escalate to $93.25 billion by 2029, growing at a compound annual growth rate (CAGR) of 21.0%. The expansion during this forecasted period can be attributed to factors like more efficient emergency response systems, resilience planning, digital identity solutions, enhanced focus on privacy and data protection, the adoption of cloud computing for scalability, and emphasis on smart city projects. Key trends for this period consist of accelerated digital transformation, IoT integration in smart structures, heightened focus on cybersecurity and data protection, the use of blockchain for transparency and security, initiatives for smart city and urban planning, open data projects promoting transparency, and renewable energy and sustainability schemes.
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What Are the Drivers Transforming the Smart Government Market?
The smart government market is experiencing growth thanks to a surge in investments in smart government technologies. Government bodies worldwide are boosting their budgets for network management, cybersecurity, and other smart government services with the intention of providing reliable, efficient, and secure services for their communities. As an example, The Office for National Statistics (ONS), a UK Government executive agency, reported in August 2024 that $1.476 billion of public funds were allocated from 2020 to 2025 for the dissemination of gigabit-capable broadband to 85% of the UK population by 2025, and to reach full coverage by 2030. So far, $534 million has already been spent up until 2022, with a further $905 million reserved for expenditure from 2023 to 2025. Therefore, this growth in investment in smart government technologies is anticipated to fuel the demand for smart government platforms and solutions in the coming years.
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What Long-Term Trends Will Define the Future of the Smart Government Market?
The current surge in technological innovation is influencing the smart government market, with the Internet of Things (IoT) becoming a key player in this transition. Many government operations are now making use of the IoT in their systems and cloud services to maximize efficiency. With the IoT becoming more common, it has significantly improved connections between the government and its citizens for the greater public good. IoT technology is used to construct and offer interconnected systems to improve the quality of life in smart cities. In February 2022, Rogers Business, a technology and media company based in Canada, designed a collection of IoT smart city and smart building solutions to meet increasing governmental and organizational infrastructure requirements. The Smart Cities and Smart Buildings branch of Rogers Business will partner with multiple vendors to create solutions that range from water leak detection sensors to AI-empowered traffic signal functions.
Which Segments in the Smart Government Market Offer the Most Profit Potential?
The smart governmentmarket 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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Which Firms Dominate the Smart Government Market by Market Share and Revenue in 2025?
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 Regions Offer the Highest Growth Potential 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
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