Smart Governments Market Size – USD 13.79 Billion in 2018, Market Growth - CAGR of 18.0%, Market Trends- Adoption of cloud technology and IoT

NEW YORK, NY, UNITED STATES, October 14, 2021 /EINPresswire.com/ -- The growth of the market is governed by various factors such as the growing demand for cloud deployment

The Smart Governments Market is expected to reach USD 52.19 Billion by 2026, according to a new report by Reports and Data.
New and advanced cloud technology services allow thousands of customers to use related resources helping companies to decrease their expenses. Cloud enables technology to adjust quickly to the changing landscape and in matching the new needed changes. Cloud service providers assures that the applications can be effortlessly configured and build entire solutions in a brief time.  These factors help the organization to focus on its core competency, which in turn, results in their overall growth.  

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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 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

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.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/smart-governments-market

For the purpose of this study, Reports and Data have segmented the market on the basis of Deployment, Service, Solution, and region:

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 Outlook (Revenue, USD Billion ; 2016-2026)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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Market Report includes major TOC points:

• Smart Governments market Overview
• Global Economic Impact on Industry
• Global Market Competition by Manufacturers
• Global Production, Revenue (Value) by Region
• Global Supply (Production), Consumption, Export, Import by Regions
• Global Production, Revenue (Value), Price Trend by Type
• Global Market Analysis by Application
• Manufacturing Cost Analysis
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders
• Market Effect Factors Analysis
• Smart Governments market Forecast

Conclusively, all aspects of the Smart Governments market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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Tushar Rajput
Reports and Data
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