PUBLISHER: IMARC | PRODUCT CODE: 1370545
PUBLISHER: IMARC | PRODUCT CODE: 1370545
The global ICT investment in government market size reached US$ 537.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 696.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.28% during 2023-2028.
Information and communication technology (ICT) investment is the acquisition of equipment and computer software that supports the seamless flow of information. It comprises hardware, communication equipment, social networking, and media applications. It also encompasses internet-enabled wireless networks and antiquated technologies, such as telephones, radio, and television broadcasts. It provides access to information and services for managing content integration, data automation, process management, and accessibility in real-time. Besides this, it assists in offering an effective, efficient, accountable, and transparent organizational system. As a result, government organizations worldwide are adopting ICT investment technology to provide high-quality services.
At present, increasing business activities, expansion of government services and the growing investment flows are among the key factors positively influencing the market. Apart from this, the e-governance initiatives to simplify digital channels are catalyzing the demand for ICT in the administrative sector. Moreover, the escalating demand for enhanced products and services to solve vulnerabilities in information security due to continuous improvement in the cloud, information technology (IT), and mobility solutions, are providing a thrust to the market growth. In line with this, regional governing authorities are focusing on information and communication strategies to deploy the internet of things (IoT) and cloud-based solutions, which is creating a positive market outlook. Besides this, governments of various countries are increasing their ICT budget across their primary areas of enterprise, such as hardware, software, IT services, communication, and consulting. This, in confluence with the development in the approach of purchasing technologies adopted by government institutions, is offering better insights to ICT vendors and service providers. In addition, the rising need to bridge the infrastructure and technological gap and increasing adoption of cloud hosting services by government authorities is driving the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global ICT investment in government market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on solution and technology.
Devices
Software
IT Services
Data Center Systems
Communication Services
IoT
Big Data
Cloud Computing
Content Management
Security
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon Web Services Inc. (Amazon.com Inc.), Avaya Holdings Corp., Capgemini SE, Huawei Technologies Co. Ltd. and Nokia Corporation.