Digitalization and informatization bring changes to the way government authorities, regulatory bodies and state departments distribute welfare, maintain security and collect taxes. The acceleration of these changes is provided by GovTech development, which brings the opportunity not only to deliver services better and faster and improving outcomes but also to reduce costs, minimize the number of mistakes, become more flexible in the face of uncertainty by experimenting with different policy options and accelerate socioeconomic development.
“GovTech / E-governance Global Industry Landscape Overview 2019” is an upcoming 160-page open access report that delivers a broad analysis of the trajectory of the GovTech industry by focusing on factors driving the ongoing transformation of the state, main sectors to be transformed and disrupted, barriers to progress and tangible recommendations ways to overcome them. It also provides information on the main types of technologies used by GovTech including blockchain, AI and machine learning, IoT, robotic automation, and geospatial data analysis, with an emphasis on the best examples of their implementation and deliverables including decreased time and complexity in public-private information exchanges, reduction of bureaucracy and corruption, enhancement of automation, and increased transparency and accountability of information.
The report profiles 100 GovTech companies based in different regions and 350 investors in the GovTech industry. 15 GovTech and Smart City tech hubs, 30 journalists and 40 influencers are also profiled in the report. It also investigates the achievements in GovTech adoption in 30 countries worldwide, focusing primarily on the developing countries that, due to their specific circumstances, could not or could only partially embark on a course of public administration automation.
The report emphasizes increasingly big market opportunities for companies currently operating with GovTech technologies and for startups that want to enter the market worldwide. In economic terms, the GovTech industry is estimated to be worth $1 trillion per year by 2025. In the United States alone, IT spendings by local and federal government have reached $3.25 trillion. The future of the GovTech market depends on governments creating a sustainable ecosystem for effective collaboration with tech startups.
By analyzing current technological and media trends in GovTech, presenting the overview of e-government and GovTech development models, and highlighting the main barriers to GovTech adoption, the report is able to identify the key drivers of GovTech transformation in developed and developing countries, concretely determine state, business and citizen-level benefits, and offer recommendations on what has to be done to develop a healthy ecosystem for efficient collaboration between governments and GovTech firms.