The global ICT investment in government market is expected to reach USD 654.73 billion by 2025, according to a new report by Grand View Research, Inc. The need to bridge the infrastructure and technological gap is expected to drive the ICT investments in the government sector.
Government spending in the ICT sector has gained momentum in several countries including China, India, Brazil, and Japan, whose central governments are encouraging investments from foreign companies. The adoption of ICT services has continued to witness tremendous growth owing to the increased business activities in the Asia Pacific and Middle Eastern regions, along with the growing investment flows, national infrastructure build-out, and government service footprint expansions.
The e-governance initiatives undertaken by the Indian government to simplify digital channels are driving investments in the ICT sector. The Digital India initiative is enabling the government to process integrated and streamlined data repositories. The government of New Zealand has bestowed the Chief Information Officer (CIO) with the responsibility of leading the ICT industry by enabling integrated digital service delivery, offering system-wide assurance and delivering sustainable business savings of USD 100 million per year by 2017.
The felicitous usage of information aids governments in making appropriate connections with the industry and helps agencies to solve problems and identify new growth opportunities for innovations. Governments use data standards for increasing interoperability and improving analytical capabilities for the entire public sector. In the wake of increasing privacy and security concerns, governments collaborate with other jurisdictions to effectively manage cybersecurity. They work closely with the ICT sector to seek expert advice, evaluate their plans, and achieve better value for money.
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Further key findings from the report suggest:
The spending on software is expected to witness substantial rise as organizations are embracing digital business strategies for outcome-based solutions and technological innovations
The growing transparency in the bundling of mobile services and pricing along with the increasing service provider consolidation is leading to a slower spending in the communication services segment
The cloud computing segment is anticipated to account for over 10% of the overall investments by 2025 as government agencies are moving toward ramping up their investments in the cloud technology to bridge the infrastructure gap
The Asia Pacific region is expected to be the fastest-growing region in terms of investments in the ICT sector; this growth can be attributed to the increasing collaboration between telecom service providers, solution providers, and device suppliers
The need to develop an economy beyond the oil & gas industry has led to significant industrial refocusing along with the adoption of IoT and deepening smart city initiatives in the MEA region
Grand View Research has segmented the ICT Investment in Government Market study based on solution, technology, and region:
ICT Investment in Government Solution Outlook (Revenue, USD Billion; 2014 - 2025)
Data center systems
ICT Investment in Government Technology Outlook (Revenue, USD Billion; 2014 - 2025)
ICT Investment in Government Regional Outlook (Revenue, USD Billion; 2014 - 2025)
Middle East and Africa
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