According to the new market research
report "Smart Government Market by Solution
(Government Resource Planning System, Security, Analytics, Open Data Platform,
Network Management, and Remote Monitoring), Service (Professional and Managed),
Deployment, and Region - Global Forecast to 2022", The smart government
market size is expected to grow from USD 11.73 Billion in 2017 to USD 28.24
Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 19.2%.
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The
major driver of the smart government market is the emerging digital lifecycle
of consumers, boosting the demand for smart technologies and facilitating the
adoption of technologies. This is also driving investments in the smart government
market.
Remote monitoring solutions are expected
to grow at the fastest rate in the smart government market during the forecast
period.
Remote
monitoring solutions assist the government bodies to track and monitor the
health of deployed assets. The various benefits offered by remote monitoring
solutions include improved capacity and utilization, operational visibility and
analysis, proactive solutions for asset failure situations, safety assurance,
and reduced asset downtime for maximized productivity. Since assets form an
integral part of any government body, remote monitoring solutions are
witnessing a high-growth rate owing to their increased deployments across all
government levels.
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in-depth TOC on "Smart
Government Market"
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Professional services segment is expected to have the largest market
share during the forecast period.
The professional services segment is expected to
have the largest market share during the forecast period owing to the increased
deployment of smart solutions which requires technological consulting, and
continuous support and maintenance activities. Moreover, government bodies
normally prefer professional services vendors over managed services vendors to
keep a tight control over the business operations, such as deployment and
support and maintenance.
North America is expected to hold the largest market share in the smart
government market during the forecast period.
As per the geographic analysis, North America is
expected to witness a significant growth in the smart government market owing
to the presence of major smart governments solution and services vendors in
this region. Some of the vendors in the region are Amazon Web Services, IBM
Corporation, and Oracle Corporation. These vendors offer better services for
growing urbanized populations and help to manage complex issues, such as
international conflicts and macroeconomic uncertainty. Moreover, the US
Information Technology Management Reform Act of 1996 has made it mandatory for
all 116 US federal departments as well as agencies to develop and use
enterprise architecture for IT investment planning and decision making. This
has resulted in cost savings worth USD 12.3 million and cost avoidance worth
USD 9.5 million.
The major vendors
covered in the smart government market include ABB Ltd. (Switzerland), Amazon
Web Services, Inc. (US), Avaya Inc. (US), Cap Gemini S.A. (France), Cisco
Systems, Inc. (US), Entrust Datacard Corporation (US), Huawei Technologies Co.,
Ltd. (China), Hughes Identification Devices (HID) Global Corporation (US), IBM
Corporation (US), Imex Systems Inc. (Canada), Nokia Corporation (Finland),
OpenGov (US), Oracle Corporation (US), Socrata (US), Symantec Corporation (US),
and UTI Grup (Romania).
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Research Insight: https://www.marketsandmarkets.com/ResearchInsight/smart-government-market.asp
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/smart-government-market.asp
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