Global Smart Government Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Smart Government Market 2021 (Includes Business Impact of COVID-19)
Global Smart Government Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global smart government market report has been segmented on the basis of service, solution, deployment mode, and region.
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Global Smart Government Market: Overview


Smart government is an extension of e-government relies on consolidated information systems and communication networks to all operational areas across multiple domains. It uses innovative policies, business models, and technology to address financial, environmental, and service challenges faced by public sector organizations.


Global Smart Government Market: Dynamics


Rising adoption of smart technologies by governmental bodies across various countries is a key factor expected to drive growth of the global market over the forecast period.

In addition, increasing demand for smart technology by consumer and requirement in order to secure data from various sources process data for digital transformation is expected to propel growth of the target market over the forecast period.

Moreover, increasing preference towards digitalization, and rising adoption of cloud computing, big data, and Internet of Things (IoT) are some other factors expected to further fuel growth of the target market over the forecast period.

Furthermore, rapidly growing rate of data generated by various sources and high acceptance rate of cloud computing across various countries are some other factors expected to boost growth of the target market over the forecast period.

However, data privacy and data theft related issues are major factors expected to restrain growth of the global market over the forecast period. In addition, threat from hackers and data breaches are expected to hamper growth of the target market.

Ongoing trend observed in the global market is rising manufacturers preference towards adoption of various strategies like acquisition, expansion, partnership, collaboration, etc.

Increasing investment for research and development by government and non- government organizations for technological advancements across various countries is expected to create potential revenue opportunities for players operating in the target market over the forecast period.


Global Smart Government Market: Segment Analysis


Among the deployment mode segments, the cloud-based deployment model segment is expected to register highest CAGR over the forecast period, owing to rising adoption of cloud technology by various governmental bodies across the globe in order to achieve real-time access, cost benefits, and reliability.

Among the solution segments, the remote monitoring segment is expected to register significant growth in terms of CAGR over the forecast period, owing to its features such as safety assurance, proactive solutions for advanced failure situations, and operational visibility and analysis.

Among the service segments, the professional services segment is expected to dominate in the smart government market and is expected to continue its dominance over the forecast period owing to increasing demand for professional services for maintenance and technological consulting.


Global Smart Government Market: Regional Analysis


The market in North America is expected to dominate in the global smart governments market and is expected to continue its dominance over the forecast period, owing to rising adoption of cloud computing and Internet of Things (IoT) across various countries in this region over the forecast period. In addition, presence of major players such as Oracle Corporation, IBM Corporation, and Amazon Web Services offers solution and service for smart government is another factor expected to further fuel growth of the market in this region over the forecast period.

The market in Europe is expected to register significant growth in terms of revenue over the forecast period, owing to improved infrastructure resulting in high penetration of mobile devices which in turn expected to drive growth of target market in various countries in this region.

Global Smart Government Market Segmentation:

Segmentation by service:

  
Professional Services
  
Managed Services

Segmentation by solution:

  
Analytics
  
Government Resource Planning System
  
Security
  
Remote Monitoring
  
Network Management
  
Open Data Platform
  
Others

Segmentation by deployment mode:

  
Professional Services
  
Managed Services


Key Market Players included in the report:


  
ABB Ltd. (Switzerland)
  
Amazon Web Services, Inc. (U.S.),
  
Avaya Inc. (US)
  
Cap Gemini S.A. (France)
  
Cisco Systems Inc. (US)
  
Entrust Datacard Corporation (US)
  
Huawei Technologies Co.Ltd. (China)
  
Hughes Identification Devices (HID)
  
IBM Corporation (US)
  
Imex Systems Inc. (Canada),
  
Nokia Corporation (Finland),
  
OpenGov Inc.
  
Oracle Corporation (U.S.)
  
Socrata Inc.
  
Symantec Corporation (US)
  
UTI Grup Ltd.


Below are the key development related to Smart Government Market in 2020 and 2021.


MAY 2021: Hempel to acquire Farrow & Ball. Hempel has signed a purchase agreement to acquire Farrow & Ball, a manufacturer of decorative paints and wallpapers with an annual turnover of over EUR 100 million. Hempels planned acquisition of Farrow & Ball from the private equity group of Ares Management Corporation marks another step toward its self-imposed goal of doubling sales to more than EUR three billion by 2025. Source

December 2020: PPG to Acquire Tikkurila, a Leading Nordic Paint and Coatings Company. PPG (NYSE:PPG) announced that it has entered into a definitive agreement to acquire Tikkurila (NASDAQ OMX: TIK1V) in an all-cash transaction. Under the terms of the agreement, PPG will commence a tender offer to acquire all of the issued and outstanding stock of Tikkurila. Pursuant to the offer, Tikkurila shareholders will receive €25.00 in cash for each share of Tikkurila stock they own, for a total transaction value of approximately €1.1 billion, including the assumption of debt and cash. Source

October 2020: AkzoNobel Acquires Titan. AkzoNobel agreed to acquire the decorative paints business of Spain’s Industrias Titan S.A.U. Source

March 2020: AkzoNobel Completes Mauvilac Acquisition. The transaction includes a local production facility, four concept stores and access to a strong distribution network. Source