Global Public Sector Software Market is valued approximately at USD 57.6 billion in 2019 and is anticipated to grow with a growth rate of more than 13.28% over the forecast period 2020-2027. Public sector software is specifically designed for the organizations in the public sector including public sector companies to detect, monitor and perform operations. Including government operations, this technology gained popularity due to acceptance of mobility solutions. Increase in the penetration of internet across various countries, increasing adoption of software solutions and global inclination towards digitization are some factors boosting the growth of the market.
As per Statista is April 2020, global online penetration rate is 59% of the world population motivating digital advertisements and enhancing the growth of the market. Further, inclination towards the rise in usage of electronic gadgets such as tablets, laptops and mobile phones support the market growth. As per data from Statista in 2020, 10.34% of rise in smartphone users has been observed as compared to 2018.
The tremendous growth has been observed in multi cloud technologies and emergence of Internet of Things, AI systems with advanced features that allow easy operations of public sector software as compared to conventional methods. For Instance: In 2019, as per Gartner, Cloud Computing and infrastructure experiences growth of approximately 27.5 %.
Due to covid-19, lockdowns are imposed across many countries which has enhanced work from home working culture. Public sector companies rose adoption of public sector software in order to continue smooth functioning and avoid hindrance in the working progress. This enabled rise in the market growth. The emergence of big data and analytics services is evident due to rise in the amount of data, and developments in analytical tools to manage it which enhances the efficiency of the services. The government uses big data analysis to keep digital records of the citizens. So, emergence of big data and analytics and increase in mobility solutions including internet and electronic gadgets drive the market growth.
However, privacy and security issues are the restraining factors which impede the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Public Sector Software market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world due to rice in technological advancements. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as growth in mobile users and acceptance of technology in emerging economies such as China and India would create lucrative growth prospects for the Public Sector Software market across Asia-Pacific region.
Major market player included in this report are:
Juniper Networks, Inc. (US)
HCL Technologies Limited (India)
Salesforce.com, Inc. (US)
Tech Mahindra Limited (India)
NortonLifeLock Inc. (US)
Microsoft Corporation (US)
Cisco Systems, Inc. (US)
SAP SE (Germany)
TATA Consultancy Services Limited (India)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Public Sector Software Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers