The Smart Government by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/smart-government-global-market-report
According to The Business Research Company’s Smart Government , 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..
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.
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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
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.
Major Players:
- ABB India Ltd.
- Emerson Electric Co.
- General Electric Company
- Honeywell International Inc.
- International Business Machines Corporation
The smart government market report table of contents includes:
1. Executive Summary
2. Smart Government Market Characteristics
3. Smart Government Market Trends And Strategies
4. Smart Government Market – Macro Economic Scenario
5. Global Smart Government Market Size and Growth
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30.Appendix
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