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Smart Government Global Market Report 2022

·4-min read

Major players in the smart government market are ABB Ltd, Amazon Web Services Inc, Avaya Inc, Capgemini, Cisco Systems Inc, Entrust Datacard Corporation, Huawei Technologies Co Ltd, Imex Systems Inc, Nokia Corporation, Oracle Corporation, Symantec Corporation, Hughes Identification Devices (HID) Global Corporation, International Business Machines (IBM) Corporation, OpenGov, and UTI Group.

New York, Sept. 12, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Smart Government Global Market Report 2022" -

The global smart government market is expected to grow from $24.07 billion in 2021 to $28.71 billion in 2022 at a compound annual growth rate (CAGR) of 19.26%. The smart government market is expected to grow to $58.08 billion in 2026 at a compound annual growth rate (CAGR) of 19.27%.

The smart government market consists of sales of smart government solutions and services by entities (organizations, sole traders, and partnerships) that refer to the use of intelligently networked information and communication technology (ICT) solutions used to manage business activities connected to government and administration. The interconnected devices and cyber-physical systems are used by intelligently networked governance and administration to accomplish public tasks efficiently and effectively.

The main types of smart government solutions include open data platforms, analytics, government resource planning system, security, remote monitoring, and network management.Open data platform refers to a platform used by ministries/departments of the government and its organizations to publish datasets, documents, services, tools, and applications that they have accumulated for public use.

It aims to improve government openness and create opportunities for many more innovative applications of government data to provide new perspectives. These solutions and services are deployed on-premise and cloud.

North America was the largest region in the smart government market in 2021.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 and Africa.

The smart government market research report is one of a series of new reports that provides smart government market statistics, including smart government industry global market size, regional shares, competitors with a smart government market share, detailed smart government market segments, market trends and opportunities, and any further data you may need to thrive in the smart government industry. This smart government market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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.

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.

In June 2021, Granicus, a US-based software company that develops technologies to help government agencies, acquired two gov-tech companies, Bang the Table and OpenCities, for an undisclosed amount.Through this acquisition, Granicus will change the way citizens and governments interact.

Granicus’ commitment to the governments of Australia and New Zealand will be reinforced by the acquisition of two enterprises, which will give public sector solutions to more than 350 governments while also growing its presence in the United States, Canada, and the United Kingdom.Bang the Table is an Australia-based company that offers an online citizen engagement platform for local government.

OpenCities is an Australia-based premier digital customer journey platform for the public sector, which assists local governments in transforming their websites, digital forms, and service delivery experiences.

The countries covered in the smart government market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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