In recent years, the adoption of cloud by government agencies across the world has increased massively and this trend is predicted to continue in the coming years as well owing to the rising internet penetration, rapid digitization of business operations, and mushrooming popularity of cloud computing. The adoption of cloud is helping government agencies reduce capital expenditure (CAPEX) and the total cost of ownership (TCO), without undercutting important public services.
In addition, the demand for labor optimization, facility consolidation, asset utilization, and measured services is fueling the adoption of cloud by government agencies around the world. Besides, the burgeoning need for sophisticated network solutions is also fueling the expansion of the global government cloud market. According to the estimates of the market research company, P&S Intelligence, the value of the market will grow from $20.8 billion in 2017 to $49.2 billion by 2023.
Furthermore, the market is expected to exhibit a CAGR of 15.4% from 2018 to 2023. With rapid technological advancements, many government information and communications technology (ICT) executives are increasingly seeking sophisticated and agile network solutions, which would assist them in efficiently reacting to various public concerns.
These executives are leveraging government cloud for adapting to the changing technology landscape with minimal expense and hassles. Further, government agencies are adopting cloud to improve their adaptability and agility and also to enhance flexibility and ensure faster deployment of services. Platform as a service (PaaS), infrastructure as a service (IaaS), and software as a service (SaaS) are the most widely used types of cloud models by governments across the world.
This market research report provides a comprehensive overview of the market
- The Future potential of the market through its forecast for the period 2020â 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
