Global ICT investment in government market size will affect
LONDON, UK, Jan. 25, 2022 (GLOBE NEWSWIRE) — Facts and Factors has released a new research report titled “ICT Investment in Government Market by Solution (Devices, Software, IT Services, Data Center Systems, and Communication Services) and by Technology (IoT, Big Data, Cloud Computing, Content Management, and Security): Global Perspective Industry, Comprehensive Analysis, and Forecast, 2021 – 2026 » in its research database.
“According to the latest research study, the demand for ICT Investment in Government Market Size &share is expected to reach USD 695.32 billion by 2026, from USD 484.6 billion in 2020, and grow at a CAGR of around 6.2% during the forecast period 2021 to 2026.”
Presentation of the report:
Government agencies are increasing their spending on maintaining system infrastructure while investing in development, modernization and improvement projects. Investments have gained momentum, prompting ICT providers to set aside funds for digital market development on an annual basis. Government entities use linked platforms to streamline operations to deliver high quality services in challenging environments.
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Market growth momentum
Factors such as the expansion of digital services in government agencies, easier access from remote endpoints, and the requirement for regulatory enforcement are driving the market growth.
Increased storage and computing power
In the interest of continuity and enforcement, federal agencies and other government agencies around the world are realizing the importance of controlling and monitoring cloud data. The government cloud enables these institutions to manage and store their data securely and efficiently. As a result, teams become stronger and more cohesive, allowing them to tackle bigger tasks at lower cost. Government organizations and other minor departments can benefit from cloud hosting services.
These facilities can be leased indefinitely to meet processing power and data storage needs. This eliminates the need to procure one-time fees for servers and manage the ongoing costs of maintaining expensive data centers. Additionally, the government cloud provides better computing capabilities as it allows government agencies to create specific backup settings, such as backup location, data and application types, and backup sequence while adopting disaster recovery solutions.
- Huawei Technologies co. ltd.
- Nokia Company
- Cisco Systems Inc.
- Amazon Web Services Inc.
- Avaya Inc.
- ABB Ltd.
- Entrust Datacard Corporation
- Capgemini SA
- Imex Systems Inc.
- Symantec Company
- IBM Corporation
- Oracle Corporation
- OpenGov Inc.
Answers to key questions in this report:
- What are the market size and growth rates of various segments in the global and regional market?
- What are the major driving factors propelling the ICT investment in government market?
- What are the key companies operating in the ICT Investment in Government Market?
- What segments does the ICT investment in government market cover?
- How does the value chain and supply chain work in the market?
- How can I receive a free copy of the sample report on ICT investment in the government market and company profiles?
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|Market size in 2020||$484.6 billion|
|Market size forecast in 2026||$695.32 billion|
|CAGR growth rate||6.2% CAGR|
|Year of reference||2020|
|Main market players||Huawei Technologies co., Ltd., Nokia Corporation, Airtel, Reliance, Cisco Systems, Inc., Amazon Web Services, Inc., Avaya Inc., ABB Ltd., Entrust Datacard Corporation, Capgemini SA and others|
|key segment||By solution, by technology and by region|
|Main regions covered||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Purchase options||Request custom purchase options to meet your research needs.|
Based on the solution, the market is divided into software, devices, IT services, communication services and data center systems. Based on technology, the market is divided into security, IoT, cloud computing, big data, and content management.
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Based on region, the market is divided into five major regions; North America, Europe, Latin America, Asia-Pacific, Middle East and Africa.
The North America region dominates the global public sector ICT investment market
North America dominated ICT investment in the government market. The main growth is due to the presence of numerous technology players in the United States and Canada. Moreover, it has been observed that the region is the first to adopt any advanced technology. Between 2016 and 2017, the software market refused to adapt to cyber threat issues. Later, by investing in solutions to address these concerns, the government invested in better IT asset management. As enterprises continue to revamp their environments with mobility, cloud, IoT, and infrastructure solutions, the need for advanced products and services to address information security vulnerabilities becomes increasingly important in the region.
Asia-Pacific region is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The rise of globalization in this region and growing need for adoption of advanced technologies such as cloud, IoT, and big data, among others, is driving the growth of the market. Moreover, the rise in employment in India has increased the number of small and medium enterprises. So, to effectively manage work and increase business results, both corporate and government sectors leverage software infrastructure. Additionally, initiatives for 5G and smart cities may propel the market in the coming years. For example, the Indian government’s Smart Cities mission is based on a long-term inclusive development strategy.
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This report segments the global ICT investment in government market as follows:
Analysis by solution segment
- IT services
- Data center systems
- Communication Services
Analysis by technology segment
- cloud computing
- Content management
Segment Analysis by Region
- North America
- Great Britain
- The rest of Europe
- Asia Pacific
- South Korea
- South East Asia
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC countries
- South Africa
- Rest of the Middle East and Africa
Key insights from primary research
- According to our research, ICT investment in the government market is expected to grow at a CAGR of around 6.2% from 2021 to 2026.
- Investment in ICT in the government market was valued at around USD 484.6 billion in 2020 and is expected to reach USD 695.32 billion by 2026.
- North America region is expected to lead the market growth based on region.
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