Global Smart Government Market Growth Drivers 2024, Forecast To 2033
26 Feb, 2024
The smart government market has shown rapid growth, escalating from $32.77 billion in 2023 to $38.48 billion in 2024, with a CAGR of 17.4%. Historical growth is attributed to digital transformation, data analytics, open data initiatives, smart infrastructure, and urban planning. Forecasts predict continued rapid growth to $77.47 billion in 2028, with a CAGR of 19.1%, driven by emergency response, digital identity solutions, privacy emphasis, cloud computing, and smart city initiatives. Key trends include digital transformation acceleration, IoT integration, cybersecurity focus, blockchain for transparency, smart city initiatives, open data initiatives, renewable energy, and sustainability programs.
Global Smart Government Market Key Driver
The increased investment in smart government technologies is expected to propel the growth of the smart government market. Governments worldwide are allocating resources to enhance network management, cybersecurity, and overall smart government initiatives. The US government's $10.2 billion investment in IT modernization serves as a prime example of the significant financial commitment to smart government technologies, indicating future growth in the market.
Get A Free Sample Of The Global Smart Government Market ReportGlobal Smart Government Market Segments
The smart government market covered in this report is segmented –
1) By Type: Open Data Platform, Analytics, Government Resource Planning System, Security, Remote Monitoring, Network Management
2) By Deployment: On Premise, Cloud
3) By Component: Solution, Services
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the smart government market in 2023. 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, Africa
Major Smart Government Industry Players
ABB Ltd.; Amaon Web Services Inc.; Avaya Inc.; Capgemini SE; Cisco Systems Inc.; Entrust Datacard Corporation; Huawei Technologies Co. Ltd.; International Business Machines Corporation; Imex Systems Inc.; Nokia Corporation; OpenGov; Oracle Corporation; UTI Group; Decidium; CitizenLab; Hughes Identification Devices (HID) Global Corporation; Accenture PLC; Atos SE; CGI Inc.; Cognizant Technology Solutions Corporation; DXC Technology; Fujitsu Ltd.; HCL Technologies Limited; Hitachi Ltd.; Infosys Limited; NEC Corporation; NTT DATA Corporation; SAP SE; Tata Consultancy Services; Tech Mahindra Limited
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Smart Government Market Overview
Smart government solutions are used to manage business activities connected to government and administration, in which interconnected devices and cyber-physical systems are used by intelligently networked governance and administration to accomplish public tasks efficiently and effectively.
Smart Government Global Market Report 2023 provides data on the global smart government market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The smart government market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.