Government Cloud Market Analysis by Trends, Size, Share, Growth Opportunities, and Emerging Technologies


Posted April 7, 2021 by devanshuraizada

Growth factors like the rapid digitalization of government organizations and need to reduce the total cost of ownership (TCO) will drive the government cloud market at a CAGR of 15.4% during the forecast period.
 
Growth factors like the rapid digitalization of government organizations and need to reduce the total cost of ownership (TCO) will drive the government cloud market at a CAGR of 15.4% during the forecast period (2017–2023), since generating revenue of $20.8 billion in 2017. Moreover, the constant improvements in cloud computing technologies and rapid advancements in public-sector technology solutions will facilitate the market growth.

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Additionally, the innovations in the internet of things (IoT) technology will encourage governments to adopt cloud solutions. Government bodies are increasingly deploying cloud-based solutions to reduce their capital expenditure (CAPEX) without compromising the important public services. The utilization of the cloud is allowing such agencies to decrease the TCO of services, directly and indirectly.

Moreover, the increasing need for facility consolidation, labor optimization, asset utilization, and measured services has propelled the adoption of the cloud technology in government organizations. Additionally, government stakeholders are switching to the cloud platform due to the integration of advanced technologies in their daily operations. Moreover, the rising number of e-government initiatives are amplifying the adoption of cloud computing.

Currently, technological innovations have become a key trend in the government cloud industry. This is allowing governments to enhance their business flexibility in spite of their back-end silo systems. Departments such as education, defense, and insurance are some of the early users of cloud computing in the public sector. Further, technological developments and the high penetration of the internet will raise the demand for cloud computing in other government departments and ministries as well.
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Issued By Devanshu
Country United States
Categories Business
Last Updated April 7, 2021