GITNUX MARKETDATA REPORT 2024

Govtech Industry Statistics

Govtech industry is projected to grow at a rapid pace globally, fueled by increased government investment in technology solutions for delivering public services efficiently.

Statistic 1

"65% of governments are investing in cloud-based solutions for their IT infrastructure."

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Statistic 2

"60% of government agencies report cybersecurity as their biggest challenge."

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Statistic 3

"70% of government digital transformation projects fail to meet expectations."

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Statistic 4

"Govtech investments have grown by 20% year-over-year since 2017."

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Statistic 5

"90% of govtech solutions are now developed with mobile-first considerations."

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Statistic 6

"The U.S. federal government spends approximately $90 billion on IT and digital services annually."

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Statistic 7

"Govtech startups receive 15% of their funding from government grants."

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Statistic 8

"The global govtech market is estimated to be worth $400 billion."

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Statistic 9

"The average implementation period for large-scale govtech projects is 18-24 months."

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Statistic 10

"30% of govtech startups focus on improving public safety services."

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Statistic 11

"45% of govtech solutions are centered around data analytics and AI."

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Statistic 12

"Public sector IT spending in Europe is forecasted to exceed €50 billion by 2025."

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Statistic 13

"74% of govtech projects aim to improve operational efficiency and service delivery."

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Statistic 14

"Only 25% of government employees feel their organization is prepared for digital transformation."

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Statistic 15

"80% of citizens expect government services to be as efficient as private sector services."

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Statistic 16

"Government agencies allocate about 5-10% of their IT budget on innovation projects."

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Statistic 17

"67% of government leaders believe smart city technologies will enhance quality of life for citizens."

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Statistic 18

"50% of govtech initiatives fail due to inadequate change management and training."

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Statistic 19

"The UK government plans to invest £1.3 billion in digital public services by 2025."

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Statistic 20

"Asia-Pacific is the fastest-growing region for govtech adoption, with 25% annual growth."

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