The global smart government market size is expected to reach USD 154.4 billion by 2030, according to a new study by Polaris Market Research. The report "Smart Government Market Share, Size, Trends, Industry Analysis Report, By Solution (Government Resource Planning System, Security, Analytics, Remote Monitoring, and others); By Service; By Deployment; By Region; Segment Forecast, 2022-2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Rapid urbanization change is expected to strain available resources significantly. As a result, governments in most developed and developing countries focus on innovative city projects to implement new technologies that ensure optimal resource utilization while providing superior connectivity and healthy lifestyles. For example, the U.S. disbursed USD 10.2 billion in investments in federal information technology modernization, in January 2021, to mitigate cyber-attacks & related issues. This is a crucial step in calibrating the country’s cyber defense capabilities to increase trust in the U.S. government's ability to provide secure services.
The COVID-19 outbreak increased demand for the smart government market. The pandemic affects people across the sector, particularly the marginalized, and governments must ensure that their needs are met. For example, on June 2, 2020, the Kerala government in India launched a virtual school TV channel for students in grades 1–12. In addition, the first Bell channel is accessible across the state on cable networks, the internet, and direct-to-home services.
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Smart governments use advanced analytics to improve service design & personalize delivery by leveraging the data collected regularly from individuals & devices. Digital technologies enable experimentation with new service delivery models, improved resource management through wiser spending, and the ability to link expenses on programs & services to the outcomes they provide for the residents.
Furthermore, a few governments across the globe are using a virtual workforce to automate standard business procedures, reducing high-pressure & repetitive jobs & resources to focus on front-line services. This improves government efficiency and aids in the efficient handling of operations. As a result, the various benefits provided by smart governments are propelling market growth.
Smart Government Market Report Highlights
Polaris Market Research has segmented the smart government market report based on solution, services, deployment, and region:
Smart Government Market, Solution Outlook (Revenue - USD Billion, 2018 - 2030)
Smart Government Market, Services Outlook (Revenue - USD Billion, 2018 - 2030)
Smart Government Market, Deployment Outlook (Revenue - USD Billion, 2018 - 2030)
Smart Government Market, Regional Outlook (Revenue - USD Billion, 2018 - 2030)