First International GovTech Platform Launched

Greater than half of governments globally search to enhance resilience and agility by modernizing core legacy functions.

• The interactive knowledge platform supplies superior analytics and insights into GovTech, its implementations, and next-generation applied sciences;

• GovTech is a various and quickly rising market with greater than $500 billion in capitalization in 2022, comprising early-stage start-ups, middle-market corporations, and publicly traded corporations;

• Aged-focused and healthcare corporations raised greater than $3.3 billion in 2022 up to now;

• Most GovTech traders are primarily based in North America, particularly within the US (68.2% of all analyzed traders);

• The second greatest area is Europe, with a share of greater than 20%. The UK and Australia boast the best numbers of GovTech corporations of their respective area;

Deep Data Analytics’ GovTech Division, a subsidiary of Deep Data Group, at the moment launched the ‘International GovTech Platform Q1 2022‘, primarily based on a first-of-its-kind report revealing superior analytics on the GovTech sector, an summary of next-generation applied sciences, and case research that discover particular examples of GovTech resolution implementations.

The ‘International GovTech Platform Q1 2022’ represents a singular digital useful resource offering the most recent evaluation and insights into the alternatives, challenges, and tendencies to observe within the GovTech sector. Drawing on a variety of information sources, the interactive platform supplies an up-to-date overview of an important developments on this quickly evolving area. The report’s findings are offered in an easy-to-use format, with key data highlighted in an AI-powered dashboard. This makes it straightforward to shortly determine an important tendencies and developments within the GovTech sector.

The GovTech business is booming worldwide as governments race to speed up their digital transformation. This report profiles 660+ GovTech corporations and 1,370+ traders primarily based on their innovation potential and enterprise exercise throughout the globe. The US continues to steer within the GovTech business, whereas the UK and Australia boast the best numbers of GovTech corporations of their respective areas.

Key findings:

• With greater than $500 billion in capitalization in 2022, the GovTech business stands as probably the most potential sectors regarding additional growth. GovTech has amassed a plethora of varied sub-industries, targeted each on bettering the standard of lifetime of its direct goal teams and on optimizing their administrative and bureaucratic processes by way of hi-tech options.
• The variety of GovTech corporations is on the rise steadily. Over 70% of them are positioned in North America. The second greatest area is Europe, with a share of greater than 20%.
• The most well-liked rounds for tech start-ups in GovTech corporations are Seed, Collection A, and Collection B.
• COVID-19 has highlighted the necessity for governments world wide to take technological motion to streamline processes and digitalize providers ahead of anticipated. In 2020, 193 states supplied 14 out of 20 fundamental providers on-line, on common – a rise of 40% since 2018. As well as, the GovTech business has seen an unprecedented enhance in demand for cybersecurity options.