The percentage of people living in cities worldwide will increase from roughly 50% in 2018 to 75% in 2050, according to the UN. Infrastructure and resources in cities are impacted by this increase in urban population as governments work to accommodate the inflow of new residents and raise their standard of living.
They are eager to create smart cities as a result, with a particular emphasis on the digital transformation of the urban ecology to achieve certain financial, social, and environmental goals. The smart government market is anticipated to grow at considerable rates over the forecast period, in line with the worldwide market for smart cities (2021-2031).
The Smart Government Market refers to the use of technology, such as the Internet of Things (IoT), Artificial Intelligence (AI), and cloud computing, to improve the delivery of public services and to enhance the overall functioning of the government. This market aims to improve citizen engagement, enhance operational efficiency, reduce costs, and make decision-making processes more data-driven. The smart government market is expected to grow as more and more cities adopt smart technologies to streamline their services and operations.
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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.
Smart Meter Adoption is Growing in South East Asian Countries Like Australia and India
A significant opportunity for the expansion of smart metres is anticipated as a result of government attempts in several nations, including India, to adopt smart grids and cities. As a result, numerous businesses are concentrating on installing/providing smart metres in the area.
An Indian business named HPL Electric and Power Ltd. acquired a BIS certification for the installation of smart metres in the nation in June 2018.
In order to provide smart grids in Australia, mPrest, an Israeli software startup, teamed with Vector, an Auckland-based energy and utility company, in June 2018.
Competitive Landscape
Key players such as
- IBM Corporation
- Oracle Corporation
- Cisco Systems, Inc.
- ABB Ltd.
- General Electric
- Symantec Corporation
- Huawei Technologies Co., Ltd.
- Avaya Inc.
- Global Corporation
- Amazon Web Services, Inc.
- Hughes Identification Devices
- Cap Gemini S.A.
- Nokia Corporation
- Others
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Key Segments of Smart Government Market Covered in the Report
Based on Component:
- Solution
- Analytics
- Open data platform
- Government resource planning system
- Remote monitoring
- Network Management
- Security
- Smart Transportation
- Others
- Services
- Professional services
- Managed 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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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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