Albany, NY -- (SBWire) -- 02/06/2019 --Smart government is an extension of e-government which applies information, communication, and operational technologies to all operational areas across multiple domains, process areas, and jurisdictions to generate sustainable public value. The smart government market is characterized by the presence of numerous well-established and highly competitive market entities/players. These players adopt various strategies like expansion, acquisition, partnership, collaboration, and technology to gain competitive advantage and defend their market share. The market is also characterized by growth in R&D activities in recent times. The global smart government market is expected to showcase impressive growth in the coming years.
There are many factors driving the global smart government market. Growth in demand for digital mediums and smart technologies is attributed to technological advancements leading to increased investments in smart government technology which is expected to be a major driver of the market. High acceptance rate of cloud computing even from countries that have regular concerns about data privacy and security is also expected to boost the market's growth. Moreover, growth in the data generated from multiple sources which can be processed for digital transformation is also expected to propel the market. However, issues about data privacy and data theft are expected to be a major restraint in the growth of the global smart government market. The market is also expected to be hindered by the threat from hackers and data breaches.
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The global smart government market can be segmented on the basis of solution, service, deployment, and geography. On the basis of solution, the market can be segmented into security, analytics, government resource planning system, remote monitoring, open data platform, network management and others. Amongst these solutions, remote monitoring solutions are anticipated to grow at a substantial rate during the forecast period. This is primarily due to the solution's impressive ability to track and monitor the health of the deployed assets. Other advantages provided by remote monitoring solutions such as improved capacity and utilization, safety assurance, operational visibility and analysis, proactive solutions for asset failure situations, and reduced asset downtime are also expected to drive the segment. Another reason for the growth of the segment is the declining cost of sensors which in turn is making deployment of such solutions feasible and economical.
On the basis of service, the market can be divided into professional services and managed services.Professional services segment is expected to hold prominent share during the forecast period owing to the increased deployment of smart solutions that need technological consulting, and continuous support & maintenance. On the basis of deployment, the market can be segmented into cloud and on-premise.On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to hold a major share of the total market owing to prominent developments in the smart government market resulting from the technical advancements and increasing use of mobiles and tablets in that region. Europe, driven by countries like U.K., Germany, and France, is expected to follow North America in terms of market share. Across Europe, the presence of advanced infrastructure is expected to ensure higher penetration of mobile devices which ultimately helps in driving the smart government market in the region. Middle East & Africa and South America are expected to hold a smaller share of the market, mainly driven by countries such as Saudi Arabia and Brazil respectively.
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Major players in the global smart government market are Amazon Web Services, Inc., Capgemini SE, Cisco Systems, Inc., Entrust Datacard Corporation, Huawei Technologies Co., Ltd., IBM Corporation, Imex Systems Inc., Nokia Corporation, Oracle Corporation, and Symantec Corporation. Other prominent players include ABB Ltd., Avaya Inc., Hughes Identification Devices (HID) Global Corporation, OpenGov, Inc., Socrata, Inc. and UTI Grup Ltd.
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Smart Government Market: Technological Advancements in Digital Mediums & Smart Technologies Is Leading to Increased Investments in Smart Government Technology