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Smart government involves the implementation of advanced technologies, innovative policies, and business models to tackle the environmental, financial, and customer service challenges encountered by government agencies. It is an expansion of e-government, which utilizes communication, information, and effective technologies to all functional areas across multiple domains and government agencies to generate public value. The smart government market is classified by the presence of various well-established and competitive market business entities. These entities execute various approaches such as business acquisition, development, partnership, and technological development to achieve competitive advantage. Cloud-based solutions for government are increasingly becoming important because suppliers are offering public, private, or hybrid cloud solutions for government data related to its management, protection, backup, and compliance. Cloud-based solutions are responsible for the openness and transparency of government data, which encourages the government's responsibility and reduces corruption. It helps in encouraging citizens and resolving public problems, bringing a broader range of professional knowledge to bear on public problems.
COVID-19 Scenario Analysis:
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The increase in demand for digital mediums and smart technologies, high adoption of technological developments, increased investments in smart government technology by government agencies, and the high acceptance rate of cloud-based solutions are the factors driving the growth of smart governments market. In addition, the necessity to manage the data generated from various government sources for digital transformation is fueling the growth of the market.
However, the increase in cyber-attacks in smart infrastructure and issues related to data privacy and data breach are the factors hampering the market growth. Furthermore, increased income-generating opportunities for the IT sector by working in partnership with the government, assisting in smart governance is providing lucrative opportunities to the growth of the smart governments market.
The Market Trends for Smart Governments Market:
Cloud-based Solutions to Drive the Market Growth:
Governmental organizations are adversely impacted by some of the factors including hardware failures, software configuration errors, security breaches, and data loss. These factors are declining the overall productivity of government agencies. The implementation of cloud-based solutions is helping the agencies to store government data at less cost and traditional on-premises solutions are increasingly becoming expensive with an increasing volume of data. Governments have substantial amounts of data in the form of user records, public policies, and schemes. Therefore, it becomes crucial that the government has a robust storage option so that it provides all the on-demand services.
Asia-Pacific is Expected to Observe Significant Growth:
Asia-Pacific region is expected to observe significant market growth during the forecasted period. The increasing penetration of smartphones and connected devices are causing businesses to establish their cloud data center in the region leading to market growth. Governments of various countries in the region see cloud services as an opportunity to enhance government service delivery by reducing unemployment, increasing responsiveness, and delivering information and communication technology services at a lower cost.
Key Benefits of the Report:
Questions Answered in the Smart Governments Market Research Report:
Key Market Segments
Key Market Players