Smart Government Market Is Expected To Grow With A CAGR Of 4.68% During The Forecast Period 2021-2027.
SUMMERY:
Market Research Future published a research report on “Smart Government
Market Research Report- Global Forecast 2027” – Market Analysis, Scope, Stake,
Progress, Trends and Forecast to 2027.
Market
Highlights:
The ever-changing
world and transforming societies along with demographics place new challenges
for the public sector. This where smart
government market becomes an essential requirement for government
organizations to deliver effective governance. Under smart government,
innovative business model and development policies are fostered with the help
of technology to address the environmental, financial and service issues
present in public sector organizations. Today, the expectations of civilians
have increased; they demand efficient, accountable and responsive services from
government bodies. It is observed has the tolerance for bureaucratic
discrepancies has gone down. Governments simply cannot afford to have poor
communication between isolated departments or sluggish systems and processes.
In order to bolster the public sector organizations, efforts are being made to
implement smart policies. Factors as such are driving smart government
deployments in various countries across the globe. A recent study conducted by
Market Research Future (MRFR) reveals that the global market for smart
government will expand at a robust CAGR of 19% between 2017 and 2023 to reach a
valuation of USD 37 Billion.
A large number of
factors, ranging from civilian/government/administration interaction models,
interoperability, heterogeneous communication network and security determine
the smart government functionalities and capabilities that can be
deployed. Increased digitalization and
expansion of smart technologies are offering tremendous potentials to the
market. Moreover, big data, cloud computing and mobile applications bring new
opportunities to connect with more citizens and better understand their
problems and requirements. Smart government is touted as the future of the
public services, which will be about greater efficiency and innovation-driven
governance. Growing importance of data analytics and the opening of new
alternatives to conventional ways of service delivery is expected to support
the growth of the smart government market over the next couple of years.
Nonetheless, risk of data theft and privacy concerns continues to undermine the
potentials of the market. Over the years, incidences mass data leaks and
cyber-attacks have increase at an alarming rate, making citizen more cautious
about sharing their personal information on digital platforms.
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Global
Market for Smart Government – Competitive Analysis
Some of the key
players profiled in the MARF’s report include Capgemini SE (France), Entrust
Datacard Corporation (U.S.), IBM Corporation (U.S.), Nokia Corporation
(Finland), Symantec Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Cisco
Systems, Inc. (U.S.), Huawei Technologies Co., Ltd. (China), Imex Systems Inc.
(Canada) and Oracle Corporation (U.S.).
Latest
Industry Highlights:
Entrust Datacard, a
prominent provider of secure transaction technologies recently announced the
that it has partnered with Cloud Security Alliance (CSA) to secure and improve
cloud computing environment.
The UAE government
has recently flagged off an emerging technologies start-up competition,
“GovHack Series” on a global scale. The competition will be held in eigth major
cities across the globe. Reportedly, this will be the sixth edition of GovHack
Series.
Global
Market for Smart Government – Segmental Analysis
MRFR’s report
offers a segmental analysis of the market based on service (managed services
and professional services), by solution (security, remote monitoring,
government resource planning system, and analytics) and deployment (on-premise
and cloud). The remote monitoring solutions segment is projected to witness a
relatively higher growth rate over 2023. Development of advance and cost effective
sensor technology is playing an imprint role in improving remote monitoring
solutions.
Regional
Overview
On the basis of
region, the global market for smart government is segmented into Europe, North
America, Asia Pacific and rest of the world (RoW). The market in North America
is expected to remain highly lucrative throughout the assessment period.
Presence of leading technology companies and increasing trends of digitization
is reflecting favourably on the region’s market. Meanwhile, Asia Pacific is
expected to exhibit the highest CAGR from 2017 to 2023.
Access
Report Details @ https://www.marketresearchfuture.com/reports/smart-government-market-3145
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