Dublin, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The "Smart Governments - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Smart Governments was estimated at US$36.2 Billion in 2023 and is projected to reach US$124.4 Billion by 2030, growing at a CAGR of 19.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as ABB Group, Amazon Web Services, Inc., Avaya, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
The growth in the smart government market is driven by several factors, including the increasing need for digital transformation in public services, rising investments in smart city projects, and the growing adoption of AI, blockchain, and IoT technologies in governance. The demand for efficient and transparent public service delivery, the need for enhanced security and data privacy, and government initiatives promoting e-governance are also contributing to market expansion.
Additionally, the emergence of 5G connectivity, the development of citizen engagement platforms, and the increasing use of data analytics for policy-making and resource management are driving growth. Strategic partnerships between technology providers and government bodies and the expansion of public-private partnerships (PPPs) are further accelerating the adoption of smart government solutions.
Emerging technologies like AI, blockchain, and Big Data are at the core of smart government initiatives, offering enhanced capabilities for data-driven decision-making, security, and efficiency. AI is being used to analyze vast amounts of data for predictive analysis and policy formulation, while blockchain is providing secure and transparent transaction frameworks for public services like land registries, voting, and identity management. Big Data analytics enables governments to harness real-time data to understand citizen needs better and optimize resource allocation.
Additionally, IoT-based sensors are widely employed in smart cities to manage public utilities, monitor pollution levels, and enhance emergency response systems. These technologies are not only enhancing the effectiveness of governance but also promoting sustainability and economic development.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Solution Component segment, which is expected to reach US$81.3 Billion by 2030 with a CAGR of a 17.8%. The Service Component segment is also set to grow at 22.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $9.7 Billion in 2023, and China, forecasted to grow at an impressive 18% CAGR to reach $18.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Smart Governments Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Smart Governments Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Smart Governments Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Select Competitors (Total 22 Featured):
- ABB Group
- Amazon Web Services, Inc.
- Avaya, Inc.
- Cap Gemini SA
- Cisco Systems, Inc.
- Entrust Datacard Corporation
- Huawei Technologies Co. Ltd.
- Hughes Identification Devices (Hid) Global Corp.
- IBM Corporation
- Imex Systems Inc.
- Nokia Corporation
- Opengov
- Oracle Corporation
- Socrata, Inc.
- Symantec Corporation
- Uti Grup (Romania)
Key Attributes
| Report Attribute | Details |
| No. of Pages | 184 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $36.2 Billion |
| Forecasted Market Value (USD) by 2030 | $124.4 Billion |
| Compound Annual Growth Rate | 19.3% |
| Regions Covered | Global |
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Smart Governments - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Emphasis on Digital Transformation Spurs Smart Government Initiatives
- Integration of AI and Big Data Analytics Strengthens Decision-Making Capabilities in Government
- Rising Adoption of E-Governance Solutions Expands Addressable Market Opportunity
- Increasing Focus on Citizen-Centric Services Drives Adoption of Smart Government Technologies
- Advancements in IoT and Cloud Computing Propel Growth of Smart Governance Platforms
- Deployment of Smart Infrastructure for Public Safety and Security Drives Market Expansion
- Rising Investments in Smart City Projects Generates Demand for Smart Government Solutions
- Emergence of Blockchain Technology Strengthens Data Security and Transparency in Governance
- Growth of Public-Private Partnerships (PPPs) Fuels Smart Government Implementation
- Challenges Related to Data Privacy and Cybersecurity Create Market Barriers
- Increasing Use of Digital Platforms for Public Engagement and Feedback Drives Adoption
- Regulatory Mandates and Policies for Sustainable Development Propel Smart Governance Initiatives
- Expansion of 5G Connectivity Enhances the Efficiency of Smart Government Applications
- Focus on Energy Efficiency and Sustainable Resource Management Supports Market Growth
- Rising Demand for Real-Time Data Monitoring and Analytics Accelerates Market Adoption
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/chh9st
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
