LONDON--(BUSINESS WIRE)--The global public sector software market is expected to grow at a CAGR of more than 13% from 2017-2021, according to a new market research report by Technavio.
Global public sector software market segmentation by deployment and end-user
Technavio’s report on the global public sector software market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by deployment, including on-premises deployment and cloud-based deployment. As projected in 2016, around 69% of the market share originated from on-premises deployment. On-premises software provides better support for public sector organizations as it hides the internal PCs of an organization from the outside world.
Based on end-user, the global public sector software market has been segmented into government, transportation, BFSI, and healthcare. As of 2016, more than 48% of the market share came from government.
“The global public sector software market in the government sector will grow at a significant rate during the forecast period. This is due to the increase in the adoption of public sector software solutions in various developed and developing countries and the increased contribution from the defense sector. The necessity for the confidentiality of data is also expected to increase the adoption of advanced software solutions,” says Amrita Choudhury, a lead analyst at Technavio for enterprise application research.
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Global public sector software market: competitive vendor landscape
The global public sector software market is in the growing stage. The increase in data thefts and forgeries have affected many industry verticals, which is increasing the demand for security software solutions. As a result, numerous steps have been initiated across the major end-user segments, including government, BFSI, transportation, and healthcare. The global public sector software market is witnessing strong competition among several small and large vendors present in the market. As the market is expected to grow in the future, many new players are expected to enter the market during the forecast period.
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Other topics covered in the report:
Market drivers:
- Increased adoption of mobility solutions
- Growing dependency on the Internet
Market challenges:
- Availability of open-source solutions
- Complex IT infrastructure
Market trends:
- Demand for integrated software suites
- Adoption of SaaS-based solutions
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