Global Smart Government Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Smart Government Market: Overview

“The global Smart government Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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Smart government is an extension of e-government relies on consolidated information systems and communication networks to all operational areas across multiple domains. It uses innovative policies, business models, and technology to address financial, environmental, and service challenges faced by public sector organizations.

Global Smart Government Market: Dynamics

Rising adoption of smart technologies by governmental bodies across various countries is a key factor expected to drive growth of the global market over the forecast period.

In addition, increasing demand for smart technology by consumer and requirement in order to secure data from various sources process data for digital transformation is expected to propel growth of the target market over the forecast period.

Moreover, increasing preference towards digitalization, and rising adoption of cloud computing, big data, and Internet of Things (IoT) are some other factors expected to further fuel growth of the target market over the forecast period.

Furthermore, rapidly growing rate of data generated by various sources and high acceptance rate of cloud computing across various countries are some other factors expected to boost growth of the target market over the forecast period.

However, data privacy and data theft related issues are major factors expected to restrain growth of the global market over the forecast period. In addition, threat from hackers and data breaches are expected to hamper growth of the target market.

Ongoing trend observed in the global market is rising manufacturers preference towards adoption of various strategies like acquisition, expansion, partnership, collaboration, etc.

Increasing investment for research and development by government and non- government organizations for technological advancements across various countries is expected to create potential revenue opportunities for players operating in the target market over the forecast period.

Global Smart Government Market: Segment Analysis

Among the deployment mode segments, the cloud-based deployment model segment is expected to register highest CAGR over the forecast period, owing to rising adoption of cloud technology by various governmental bodies across the globe in order to achieve real-time access, cost benefits, and reliability.

Among the solution segments, the remote monitoring segment is expected to register significant growth in terms of CAGR over the forecast period, owing to its features such as safety assurance, proactive solutions for advanced failure situations, and operational visibility and analysis.

Among the service segments, the professional services segment is expected to dominate in the smart government market and is expected to continue its dominance over the forecast period owing to increasing demand for professional services for maintenance and technological consulting.

Global Smart Government Market: Regional Analysis

The market in North America is expected to dominate in the global smart governments market and is expected to continue its dominance over the forecast period, owing to rising adoption of cloud computing and Internet of Things (IoT) across various countries in this region over the forecast period. In addition, presence of major players such as Oracle Corporation, IBM Corporation, and Amazon Web Services offers solution and service for smart government is another factor expected to further fuel growth of the market in this region over the forecast period.

The market in Europe is expected to register significant growth in terms of revenue over the forecast period, owing to improved infrastructure resulting in high penetration of mobile devices which in turn expected to drive growth of target market in various countries in this region.

Global Smart Government Market Segmentation:

Segmentation by service:

• Professional Services
• Managed Services

Segmentation by solution:

• Analytics
• Government Resource Planning System
• Security
• Remote Monitoring
• Network Management
• Open Data Platform
• Others

Segmentation by deployment mode:

• Professional Services
• Managed Services

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa