ICT Investment In Government Market Projected to Grow and Reach USD 695.32 Billion
  • Published On: 07-02-2022

ICT Investment In Government Market Projected to Grow and Reach USD 695.32 Billion

Government ICT spending will rise from USD 484.6 billion in 2020 to USD 695.32 billion in 2026, according to a Facts and Factors market research report, with a CAGR of around 6.2%.

Additionally, government agencies are increasing their expenditures on system infrastructure maintenance and modernization and enhancement projects. In recent years, the investments have gained traction, prompting ICT providers to set aside funds each year for the development of the digital marketplace. To ensure high-quality services in challenging environments, government entities are using linked platforms to streamline operations.

Factors that are promoting the market growth include the expansion of digital services across government agencies, the ease of access from remote endpoints, and regulatory enforcement.

These companies include Huawei Technologies, Nokia Corp., Airtel and Reliance, Cisco Systems, Inc., Amazon Web Services, Inc., Avaya Inc., and ABB Ltd., Entrust Datacard Corporation, Capgemini S.A. and Imex Systems Inc. and Symantec Corp., among others, in the ICT Investment In the Government market

Enhanced storage and processing capabilities

Governing bodies around the world recognize the importance of cloud data control and monitoring for continuity and enforcement. These organizations can safely store and manage their data with the help of the Government cloud. As a result, teams become more effective and efficient at tackling more complex projects. The use of cloud hosting services may be advantageous for government agencies as well as smaller departments.

The processing power and data storage capacity of these facilities can be rented out indefinitely. This eliminates the need to pay for servers upfront and to keep track of ongoing expenses associated with running and maintaining large, costly data centers. In addition, the government cloud provides better computing capabilities because it enables government agencies to configure specific backup settings, such as backup location, data and application types, and backup sequence while implementing disaster recovery strategies.

To learn more about the "ICT Investment in Government Market by Solution (Devices, Software, IT Services, Data Center Systems, and Communication Services), and By Technology" report, visit https://www.fnfresearch.com/ict-investment-in-government-market/ and read the entire report.

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