Smart Government Market: An Insight On the Important Factors and Trends Influencing the Market

Smart Government Market: An Insight On the Important Factors and Trends Influencing the Market

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.