Home Press Releases Smart Government Market Size Worth $154.4 Billion By 2030 | CAGR: 18.7%

Smart Government Market Size Worth $154.4 Billion By 2030 | CAGR: 18.7%

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

  • The professional services sub-segment by solution is anticipated to grow at a significant CAGR. The professional services segment is expected to have the largest market share during the forecast period due to the need for technological counseling and ongoing help and support exercises for the organization of smart innovations.
  • The cloud deployment segment is anticipated to grow at a considerable CAGR. The cloud deployment segment is expected to grow fastest during the forecast period due to increased acceptance of cloud administrations by government offices.
  • North America is expected to experience significant growth in the global market over the forecast period due to the increased infiltration of smart innovations. Furthermore, there is increased spending for deploying smart arrangements across various government levels in North America.
  • Key players include IBM, SAP, Amazon Web Services, ABB Ltd., Avaya, Microsoft Corporation, Capgemini, Cisco Systems, Verizon, Entrust Datacard Corporation, Huawei Technologies, KAPSCH Group, Nokia Corporation, Oracle Corporation, Ericsson, General Electric, Tata Consultancy Services, Honeywell International, Itron Inc., Oracle Corporation, Osram Gmbh, Schneider Electric, Siemens, Telensa, Vodafone Group, and others.

 

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)

  • Government Resource
  • Planning System
  • Security
  • Analytics
  • Remote Monitoring
  • Others

Smart Government Market, Services Outlook (Revenue – USD Billion, 2018 – 2030)

  • Professional Services
  • Managed Services

Smart Government Market, Deployment Outlook (Revenue – USD Billion, 2018 – 2030)

  • Cloud
  • On-Premise

Smart Government Market, Regional Outlook (Revenue – USD Billion, 2018 – 2030)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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