According
to the new market research "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", published
by MarketsandMarkets™, 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%.
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.
Browse and
in-depth TOC on "Smart Government Market"
79
- Tables
67
- Figures
147
- Pages
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.
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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