Dublin, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The "Smart Government Global Market Report 2023" has been added to ResearchAndMarkets.com's offering.
The report provides insights into the global smart government solutions market. Smart government solutions refer to the use of interconnected devices and cyber-physical systems to manage government and administration activities efficiently and effectively. These solutions encompass various types, including open data platforms, analytics, government resource planning systems, security, remote monitoring, and network management.
The global smart government market experienced significant growth, reaching $33.69 billion in 2023, with a compound annual growth rate (CAGR) of 18.4% from the previous year. The growth was influenced by technological advancements, particularly the adoption of the Internet of Things (IoT) technology in government activities to improve efficiency and government-citizen interactions. This has resulted in the development of smart city solutions and other interconnected systems for public benefit.
The report highlights technological advancements in the smart government market, with examples like Rogers Business developing IoT smart cities and smart building solutions to meet infrastructure demands, and Granicus acquiring Bang the Table and OpenCities to enhance government-citizen interaction through online citizen engagement platforms and digital customer journey solutions for local governments.
North America was the largest market for smart government solutions in 2022, while Asia-Pacific is projected to be the fastest-growing region in the forecast period. The report covers various countries, including Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The increased investment in smart government technologies, such as network management and cybersecurity, is expected to drive the growth of the smart government market. Governments worldwide are focusing on delivering reliable and secure services to their citizens, leading to increased spending in this sector. For example, the US government announced a $10.2 billion investment in Federal information technology modernization to enhance cyber defenses and ensure reliable services.
Key Players in the Smart Government Market:
- ABB Ltd.
- Amazon Web Services Inc.
- Avaya Inc.
- Capgemini
- Cisco Systems Inc.
- Entrust Datacard Corporation
- Huawei Technologies Co Ltd.
- Imex Systems Inc.
- Nokia Corporation
- Oracle Corporation
- Symantec Corporation
- Hughes Identification Devices (HID) Global Corporation
- International Business Machines (IBM) Corporation
- OpenGov
- UTI Group
The report covers various market characteristics, including size and growth, segmentation, competitive landscape, market shares, trends, and strategies. It also provides historic and forecast market growth by geography, along with data segmentations for country and regional historic and forecast data.
The smart government market offers a wide range of solutions and services to improve government operations, transparency, and citizen engagement. The report provides valuable insights for businesses, government institutes, researchers, and industry analysts looking to understand the smart government market's current state and potential growth opportunities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $33.69 billion |
| Forecasted Market Value (USD) by 2027 | $66.99 billion |
| Compound Annual Growth Rate | 18.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/wdodv4
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