Published by Coherent Market Insights
Posted on September 20, 2021
4 min readLast updated: February 5, 2026
The smart governments market is expanding due to tech investments and government initiatives, with major growth in North America and Asia Pacific.
United States/WA: Smart Governments Market Will Boom In Near Future
Report Pages:[130 Pages]
Market Overview:
Smart Government initiatives are underway and individuals can witness the evolution of smart government at present. The current focus is on identifying the factors determining government effectiveness and designing a model for its maturity. Over a decade, different models for the development, deployment, assessment, and governance of e-governmental organizations have already been developed. Although these models address different issues on effectiveness, they also share key components. For instance, the key components include enabling authorities to interact effectively with constituents; enabling citizens to participate in decision making through an accessible online portal; ensuring transparency by open information management and community participation; ensuring the quality of service delivery through an improved system of contracting; empowering civil society through better public services and better-informed decisions; and empowering stakeholders through better decision making.
Competitive Landscape:
Major players operating in the global smart governments market include Symantec Corporation, Oracle Corporation, Socrata, Opengov, International Business Machines (IBM) Corporation, Nokia Corporation, Imex Systems Inc., Huawei Technologies Co., Ltd., Hughes Identification Devices (Hid) Global Corporation, Entrust Datacard Corporation, Capgemini S.A., Cisco Systems, Inc., Avaya Inc., Abb Ltd., Amazon Web Services, Inc., and UTI Group.
Key Market Drivers:
Increasing investments in smart technologies by several government bodies is the main factor that is expected to enhance the growth of the global smart governments market. For instance, according to Nikkei Asia, the Japanese corporations in 2020 planned on investing more than 15.8% in information technology in the 2020 fiscal year in order to keep up with the advancements of digitization across several sectors. Moreover, several other initiatives and rising awareness related to smart government protocols are expected to drive the growth of the global smart governments market.
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Covid-19 Impact Analysis
The rapid spread of the COVID-19 pandemic affected the growth of the technology sector along with several other sectors. However, despite these challenges, various technology-based associations have attracted high investments. For instance, according to Diginomica, in the first half of 2020 London, based tech associations attracted around US$ 4.45 billion of investment and outperformed Tel Aviv, Berlin, Stockholm, and Paris altogether. This had a positive impact on the growth of the global smart governments market.
Key Takeaways
The size of the global smart governments market was estimated at around US$ 11.73 billion in 2017 and is projected to reach around US$ 28.24 billion by 02022, at a CAGR of around 19.2%, owing to increasing service launches by key market players. For instance, in April 2020 OpenGov Financials was launched by OpenGov Inc., which is a novel financial management solution system that has extended cloud-based software and also uncovered the first fully-integrated Enterprise Resource Planning (ERP) design that has been tailored exclusively for local government bodies.
The Asia Pacific is expected to witness significant growth in the global smart governments market, owing to the increasing investments in the technology sector. For instance, according to India Brand Equity Foundation, in 20221 the IT expenditure in India is assessed to reach around US$ 93 billion and then again increase to US$ 98.5 billion in 2022.
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The post The Global Smart Governments Market Continues To Grow Owing To the Increasing Investments in the Technology Sector and Initiatives Taken By Government Bodies appeared first on Gatorledger.
The article discusses the growth of the global smart governments market driven by technology investments and government initiatives.
Increasing investments in smart technologies and rising awareness of smart government protocols are key drivers.
North America and Asia Pacific are expected to witness significant growth in the smart governments market.
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