Therefore, they are looking forward to developing smart cities, with key focus on digital transformation of urban ecosystem to meet environmental, financial, and social outcomes. In line with, the global smart cities market, the smart government market is projected to expand at significant rates during the forecast period (2021-2031).
According to the United Nations, the proportion of people living in cities across the world will rise from approximately 50% in 2018 to 75% in 2050. This rise in urban population impacts city infrastructures and resources as governments are trying to cope up with the influx of new inhabitants and improve their living standards.
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What are the Key Trends Impacting Growth of the Smart Government Market?Owing to the availability of resources and initiatives by governments, countries are witnessing an increase in the number of smart cities. With the same intention, various city councils in the countries are collaborating with various solution providers for implementing new information and communication technologies (ICT). Moreover, with the intention of proliferating the adoption of smart devices and smart technologies, various organizations are collaborating with the country’s government entities to drive smart cities projects, which further is contributing towards the growth of the market.
For instance, In January 2018, the city of Duisburg signed a Memorandum of Understanding (MoU) with Huawei Enterprise Business Group for enabling Duisburg to become a smart city. Also, In May 2018, GFCA (Global Future Cities Alliance) partnered with CATIS (China Association of Trade in Services) for accelerating the smart city development in the country.
Increasing Transition towards Urbanisation
In addition, rapid increase in urbanization is creating congested landscapes, thereby giving rise to issues such as climate change, high energy consumption, water scarcity, and other economic and social problems. According to the United Nations, the global urban population in 2015 was 54%, which is expected to increase to 66% by 2050.
This rapid rate of change in urbanization is expected to exert substantial pressure on the available resources.Thus, the governments of most developed and developing countries are focusing on smart city projects to implement new technologies which ensure optimal utilization of the available resources, along with providing superior connectivity and healthy lifestyles.
How is the demand forSmart Devices and Technologies Reshaping the Smart Government Market?
With the rise in the number of smartphones and tablets and other smart devices, the opportunities for the growth of digital technologies is growing continuously. For any city to cater to and meet the growing demands of an urban population and the consumption of man-made and natural resources, it must leverage technology and the resultant smart solutions to drive a holistic benefit for the entire ecosystem.
Furthermore, owing to the initiatives taken by the governments of various countries, such as China and India, for adopting smart meters and smart grids, a high opportunity for the growth of smart government market is expected.
For instance, In June 2018, HPL Electric and Power Ltd., an Indian-based company, received a BIS certification for the deployment of smart meters in the country.In June 2018, Vector, an Auckland-based energy and utility company, partnered with mPrest, an Israeli-based software company, for offering smart grids in Australia.
What are the Key Challenges that may Restrain Growth of the Smart Government Market?
A transition towards the adoption of fiber optic network systems is being witnessed from copper-based systems in some developed and developing countries. However, network systems of a high proportion of developing countries still function over copper-based cables and systems. This, as a result, restricts the efficient implementation of advanced technologies such as smart grids, IoT, etc.
Hence, the inability of supporting the required bandwidth for the implementation of advanced technologies (necessary for enabling smart government) across a major proportion of cities, globally, restrains the growth of the market.
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Competitive Landscape
Key players such as
- IBM Corporatio
- Oracle Corporation
- Cisco Systems, Inc.
- ABB Ltd.
- General Electric
- Symantec Corporation
- Huawei Technologies Co., Ltd.
- Others
are actively involved in offering smart governmentsolutions across various applications in different geographies.
What strategies are the Key Players adopting for Increasing their Market Share in the Smart Government Market?
Cisco Systems has a long history of jump-starting or accelerating its growth in market through strategic partnerships and collaborations with companies in the smart cities ecosystem. This planned and yet aggressive approach to business growth coupled with strong execution allowed the company to maintain its firm leadership position in the smart cities market and helps the company in building broadest portfolio of products and a customer base.
- For instance, in January 2019, the company entered into the partnership with Iteris, an American company which provides applied informatics for transportation and agriculture. This partnership is aimed to deploy an edge-processing IoT solution in the City of Las Vegas which combines data feeds from the Iteris Vantage Next video detection platform with the Cisco Kinetic software solution to improve traffic flow and reduce congestion.
The companies are focusing on continuous improvements and technological advancements in smart government solutions. Moreover, the company aims at expanding its solution portfolio by introducing new product releases to cater to the technological advancements and demands from various industries.
- For instance, in September 2019, the Cisco launched a next-generation CloudLink video conferencing solution which includes advanced technologies such as 4K and AI (Artificial Intelligence). This new solution is introduced to contribute in the foundation for extending smart office to all enterprise scenarios and digitally transforming all industries.
Key Segments of Smart Government Market Covered in the Report
Based on Component:
- Solution
- Services
Based on Deployment:
- Cloud-based
- On-premise
Based on Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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