May 3, 2012
Smart cities need smart government. The future shape of our public services and of our communities will be determined by the ability of government organizations and their service partners to utilize modern technology to meet pressing economic, environmental, and social challenges. Smart government involves the use of innovative policies, business models, and technology to address the financial, environmental, and service challenges facing public sector organizations. Growing investments in this area cover not only the use of the smart city infrastructure to deliver better and innovative services to citizens, businesses, and other stakeholders, but also the underlying architecture of the city, including the use of open system platforms for data sharing across industries and application areas. According to a new report from Pike Research, these investments will lead to rapid growth in the emerging smart government sector over the next several years. The overall smart government technology market, which was worth $706 million in 2011, will reach just over $2.5 billion by 2017, the cleantech market intelligence firm forecasts, with a compound annual growth rate (CAGR) of 24%. Cumulative investment in smart government technology between 2011 and 2017 will be almost $4.8 billion.
“A new wave of technical innovation is having an impact on the provision of public services,” says research director Eric Woods. “The computerization of both back- and front-office services has made a much wider range of data available to city managers, data that is now being supplemented by real-time data provided from a growing range of intelligent devices and sensor networks. The growing use of data analytics is improving the quality and efficiency of services, and making this data accessible to third parties through open data government portals is increasing the speed of innovation and overcoming some of the traditional resource and financial bottlenecks.”
North America will lead the smart government market sector during the forecast period, reflecting an early adoption of new IT solutions to support public services and a drive among larger cities to use data more effectively in the management of the city. However, both Europe and Asia Pacific will also show strong growth and will not lag far behind North America.
Pike Research’s report, “Smart Government Technologies”, analyzes the global market opportunity for smart government technologies. It assesses the business drivers, market forces, and technology trends that are transforming the use of ICT and related technologies in smart cities and communities. The study forecasts the size and growth of the market for smart government technologies through 2017, and it also forecasts the growth in smart government data analytics and cloud-based services between 2011 and 2017. The report includes profiles of major smart government initiatives around the world and also examines the strategies of key players in the smart government market including government agencies, IT companies, telcos, and infrastructure providers. An Executive Summary of the report is available for free download on the firm’s website.
Contact: Richard Martin
+1 303 997 7609