The Smart Governments Market is expected to reach USD 52.19 Billion by 2026, according to a new report by Reports and Data.
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The market in the Asia Pacific region is anticipated to witness the highest CAGR of 18.4% during the forecast period. Due to the growing adoption of technology upgrades and regulatory mandates by countries, such as Australia, Singapore, China, Japan, South Korea, and Hong Kong. Additionally, the enactment of the Internet of Things (IoT) due to political impact and the privatization in countries are the significant drivers for the market in this region. The booming IT sector in this region along with substantial investments from the private and public organizations is also expected to drive the growth further.
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Further key findings from the report suggest
- The Smart Governments Market is estimated to reach USD 52.19 Billion by 2026, at a CAGR of 18.0% during the forecast period.
- The on-premise deployment model accounts for a larger share of 61.8% of the market in 2018.
- New and advanced cloud technology services allow thousands of customers to use innovative methods to reduce cost and time.
- Cloud enables technology to adjust quickly to the changing landscape and in matching the new needed changes.
- The professional service segment accounts for a larger share of 65.7% of the market in 2018.
- The remote monitoring solution is expected to witness the highest CAGR of 18.3% during the forecast period.
- The largest share is accounted by the North America with the share of 29.8% of the market in 2018. The region is obtaining significant traction in the smart government market, owing to the rising adoption of Internet of Things (IoT) and cloud computing, which in turn have increased the growth of the market in this region. Moreover, the presence of significant companies offering smart government’s solution and service are propelling the market growth in this region.
- Various players are developing strategies to mark their presence in the industry.
- The Key players in the Smart Governments Market include Amazon Web Services, Inc., UTI Group, Cisco Systems, Inc., Abb Ltd., Avaya Inc., Capgemini S.A., Entrust Datacard Corporation, Huawei Technologies Co., Ltd., Imex Systems Inc., Oracle Corporation, International Business Machines (Ibm) Corporation, Nokia Corporation, and Symantec Corporation
The report covers a comprehensive analysis of the impact of the COVID-19 pandemic on the global market. The pandemic has adversely impacted the businesses and industries due to stringent government policies on social restrictions, transportation bans, and disruption in production and product supply chains. The report provides a comprehensive analysis of the pandemic’s impact on the global market and offers key insights into ways to circumvent the negative effect of the pandemic.
Market Segmentation:
The global Smart Governments market report covers a detailed analysis of the market segmentation to provide key insights into the scope of the market expansion. The global Smart Governments market has been segregated on the basis of product types, applications, end-users, and key regions of the industry.
Deployment Outlook (Revenue, USD Billion ; 2016-2026)
- On-premises model
- Cloud-based model
Service Outlook (Revenue, USD Billion ; 2016-2026)
- Professional Services
- Managed Services
Solution Outlook (Revenue, USD Billion ; 2016-2026)
- Government Resource Planning System
- Remote Monitoring
- Network Management
- Open Data Platform
- Others
Regional Analysis:
The regional bifurcation of the Smart Governments market report is a comprehensive segment that covers a thorough analysis of the market dynamics and offers critical insights on import/export ratio, supply and demand dynamics, revenue share, market size, market share, industry analysis, production and consumption patterns, and the current and emerging trends of each region. The report also offers a country-wise analysis to confer a better understanding of the market.
The prominent geographical regions of the market include:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Competitive Landscape:
The global Smart Governments market report covers a comprehensive overview of the market’s competitive landscape, providing a detailed analysis of the company profile, product portfolio, market position, global network, revenue share, profit margins, technological and product advancements, and SWOT analysis of each player. The report also provides extensive insights into strategic business expansions such as mergers acquisitions, collaborations, corporate deals, distribution partnerships, and product launches, among others.
Key Highlights from the Report:
Detailed overview of the Smart Governments market in the forecast years
Accurate estimation through in-depth analysis of key market trends and features
Extensive regional analysis and insights regarding the regions projected to exhibit lucrative growth
Comprehensive analysis of the competitive landscape
Study of the recent development and trends in the market
Highlights of the TOC:
- Report Overview
1.1 Research Scope
1.2 Key Smart Governments market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
- Global Growth Trends
2.1 Global Smart Governments market size
2.2 Latest Smart Governments market trends
2.3 Key growth trends
- Competitive Landscape
3.1 Global Smart Governments market key players
3.2 Global Smart Governments size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Smart Governments market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
Continue…
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