NEW YORK, June 19, 2017 /PRNewswire/ --
Highlights
• Growing
data from multiple sources allowing the government agencies to
process them for digital transformation is expected to drive the
growth of the smart governments market.
• The
smart governments market size is expected to grow from USD 11.73 billion in 2017 to USD 28.24 billion by 2022, at a Compound Annual
Growth Rate (CAGR) of 19.2%.
• The
major driver for the upsurge in demand in the smart governments
market includes growing data from multiple sources allowing the
governments to process them for digital transformation, leading to
the adoption of smart technologies.
• The
restraining factors include inadequate funding which affects and
halts the development of government projects and the lack of
uniform laws and regulations in data sharing by government agencies
across ministries and services.
•
Government resource planning system solutions are expected to have
the largest market share during the forecast period.
•
Government resource planning system is a complete suite that can be
customized according to the needs of the government bodies.
• It
comprises modules such as financial management, asset lifecycle
management, supply chain management, workforce management, order
and contract management, and document management.
• This
system ensures transparency in activities, provides authorized
access which ensures data privacy, and maximizes the effectiveness
of resource allocations.
• The
growth of this solution is attributed to its increased adoption by
the government firms for increasing 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 expected to
grow at the fastest rate in the smart governments market during the
forecast period.
Growing data from multiple sources allowing the government
agencies to process them for digital transformation is expected to
drive the growth of the smart governments market.The smart
governments market size is expected to grow from USD 11.73 billion in 2017 to USD 28.24 billion by 2022, at a Compound Annual
Growth Rate (CAGR) of 19.2%. The major driver for the upsurge in
demand in the smart governments market includes growing data from
multiple sources allowing the governments to process them for
digital transformation, leading to the adoption of smart
technologies. The restraining factors include inadequate funding
which affects and halts the development of government projects and
the lack of uniform laws and regulations in data sharing by
government agencies across ministries and services. Government
resource planning system solutions are expected to have the largest
market share during the forecast period.Government resource
planning system is a complete suite that can be customized
according to the needs of the government bodies. It comprises
modules such as financial management, asset lifecycle management,
supply chain management, workforce management, order and contract
management, and document management. This system ensures
transparency in activities, provides authorized access which
ensures data privacy, and maximizes the effectiveness of resource
allocations. The growth of this solution is attributed to its
increased adoption by the government firms for increasing 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 expected to grow at the fastest rate in
the smart governments market during the forecast period.As per
the geographic analysis, the APAC region is expected to witness the
fastest growth in the smart governments market due to the
increasing adoption of technology upgrades and regulatory mandates
by affluent countries, such as China, Australia, South
Korea, Japan, Singapore, and Hong
Kong. Additionally, the adoption of the Internet of Things
(IoT) due to political push and the privatization in countries such
as Philippines, and Indonesia are the major drivers for the smart
governments market in this region.In the process of determining and
verifying the market size for several segments and subsegments
gathered through secondary research, extensive primary interviews
were conducted with key industry personnel. The break-up profiles
of the primary discussion participants are given below:• By Company
Type: Tier 1 (83%) and Tier 2 (17%)• By Designation: C-Level (75%)
and Manager Level (25%) • By Region: North America (40%), Europe (20%), and APAC (40%)The key smart
governments market vendors profiled in the report are as
follows:1. ABB Group (Switzerland)2. Amazon Web Services, Inc.
(US)3. Avaya Inc. (US)4. Cap Gemini S.A. (France)5. Cisco Systems, Inc. (US)6. Entrust
Datacard Corporation (US)7. Huawei Technologies Co., Ltd.
(China)8. Hughes Identification
Devices (HID) Global Corporation (US)9. IBM Corporation (US)10.
Imex Systems Inc. (Canada)11.
Nokia Corporation (Finland)12.
OpenGov (US)13. Oracle Corporation (US)14. Socrata (US)15. Symantec
Corporation (US)16. UTI Grup (Romania)Research CoverageThe global
smart governments market has been segmented on the basis of types
(solutions and services), deployments, and regions. A detailed
analysis of the regions has been done to provide insights into the
potential future business opportunities across different regions.
In addition to this, the product portfolio analysis and business
strategy analysis are the other MarketsandMarkets analysis included
in the report.Reasons to Buy the ReportThe report will help
the market leaders/new entrants in the smart governments market in
the following ways:1. The report segments the smart governments
market comprehensively and provides the closest approximations of
the revenue numbers for the overall market and subsegments across
different regions.2. The report helps the stakeholders to
understand the pulse of the market and provides them with
information on the key market drivers, restraints, challenges, and
opportunities.3. The report helps the stakeholders to understand
the competitors and gain more insights to better their position in
the market. Read the full report:
http://www.reportlinker.com/p04944752/Smart-Governments-Market-by-Solution-Service-Deployment-and-Region-Global-Forecast-to.htmlAbout
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