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Smart Governments Market by Solution, Service, Deployment, and Region - Global Forecast to 2022

Smart Governments Market: Global Forecast until 2022

  • June 2017
  • 149 pages
  • ID: 4944752
In this report:
Europe is projected to witness a slow but steady growth, whereas APAC is expected to grow at the highest CAGR of ##.##% during the forecast period and is projected to have a market share of ##.##% in 2017.
The smart government market is expected to grow from USD ##.## billion in 2017 to USD ##.## billion by 2022, at a Compound Annual Growth Rate (CAGR) of ##.##% during the forecast period.

Summary

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Growing data from multiple sources allowing the government agencies to process them for digital transformation is predicted to push the increase of the smart governments market.

The smart governments market size is forecasted to grow from ~$11.7B in 2017 to ~$28.2B by 2022, at a CAGR of 19.20 percent. The main driver for the upsurge in demand in the smart governments market includes increasing info from multiple sources allowing the governments to process them for digital transformation, leading to the adoption of smart technologies. The restraining factors contain inadequate funding which affects and halts the development of government projects and the lack of uniform laws and regulations in info sharing by government agencies across ministries and services.

Government resource planning system solutions are anticipated to have the biggest market share during the estimate period.

Government resource planning system is a complete suite that can be customized according to the needs of the government bodies. It comprises modules including financial management, asset lifecycle management, supply chain management, workforce management, order and contract management, and document management. This system ensures transparency in activities, offers authorized access which ensures data privacy, and maximizes the effectiveness of resource allocations. The rise of this solution is attributed to its increased adoption by the government companies for growing citizen engagement costs. The solution also saves costs and complexities that may arise while installing the modules separately as standalone solutions.

Asia Pacific (APAC) is anticipated to grow at the quickest rate in the smart governments market during the outlook period.

As per the geographic review, the APAC area is forecast to witness the quickest increase in the smart governments market due to the rising adoption of technology upgrades and regulatory mandates by affluent countries, such as china (CN), Australia (AU), South Korea (KR), Japan (JP), Singapore (SG), and Hong Kong (HK). On top of, the adoption of the Internet of Things due to political push and the privatization in countries including Philippines, and Indonesia (ID) are the main drivers for the smart governments market in this area.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions were managed with main industry personnel. The break-up profiles of the primary discussion participants are given below:

• By Company category: Tier 1 (83.0 percent) and Tier 2 (17.0 percent)

• By Description: C-suite (75.0 percent) and Grade of manager (25.0 percent)

• By Area: North America continent (40.0 percent), Europe (EU) (20.0 percent), and Asia-Pac (40.0 percent)

Segment Research

The overall smart governments market has been split on the basis of types (solutions and services), deployments, and localities. An in-depth study of the regions has been done to furnish business insights into the potential future business opportunities across several regions. Additionally to this, the product portfolio review and business strategy study are the other MarketsandMarkets review included in the industry report.

Reasons to Buy the Report

The study will facilitate the market top players/new sector entrants in the smart governments market in these ways:

1. The document breaks down the smart governments market comprehensively and offers the best approximations of the revenue data for the global market and sub-segments across different areas.

2. The analysis benefits the partners to apprehend the pulse of the sector and offers them with info on the main market drivers, market restraints, opportunities, and alternatives.

3. The market research benefits the partners to comprehend the players and obtain additional insights to better their rank in the sector.

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