We are excited to share with you our newest GovTechReport: Public Sector Meets Innovation. The report covers global GovTech programs led by exceptional individuals in 15 countries. We have written it with the GovTech leaders in mind: this research is supposed to serve as a practical guide for all current and future experts in the rapidly growing GovTech industry, which is expected to reach $1 trillion by 2025.
During the COVID-19 outbreak, the whole world has acknowledged the urgency to make governmental and municipal operations and services more innovative. GovTech creates a real chance to adopt technologies and innovative operational models quickly, efficiently and with the resident-centric approach. If you are asking yourself how this can be achieved, this report is for you.
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About the Report
Disruptive Innovation is turning every industry on its head. New and emerging technologies change the way companies design, produce and deliver services and products to their customers. In the past decade, the public sector started to understand that these technologies can also assist local and central governments in creating better services, improving the engagement with citizens and increasing transparency. Since the public sector’s role has significantly expanded and technology can support delivering their services in a more efficient and cost-effective way, there is a need to develop efficient, customer-centered services for less. This is how GovTech comes into play.
GovTech is a whole-of-government approach to digitalization that promotes simple, accessible, and efficient government. It aims to promote the use of technology to transform the public sector, improve service delivery to citizens and businesses, and increase efficiency, transparency and accountability (as defined by the World Bank).
Currently, the GovTech market is estimated to be worth over$400 billion. With an extraordinary growth rate of 15%, it is expected to hit$1 trillion by 2025. This market value exceeds other popular industries, such as FinTech or Cyber security, with estimated values of $130 billion and $150billion respectively.
In order to realize the potential of GovTech, public sector and various stakeholders in the ecosystem create conferences, hackathons, investment funds, and education programs. In this report, we chose to focus on open innovation programs for the public sector. Open innovation programs are a tool used by organizations both in the public and private sectors to solve significant challenges of governmental organizations by implementing external technologies.
In our GovTech Report: Public Sector Meets Innovation, we have shared the best practices and exceptional programs from around the world that have already started yielding great results, making the powerful GovTech sector a reality.
We hope that you will find this material relevant and helpful.