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(Wireless-NewsWire.Com, September 28, 2024 ) According to the latest research by InsightAce Analytic, the Global AI in Government and Public Services Market is valued at US$ 19.2 Bn in 2023, and it is expected to reach US$ 59.6 Bn by 2031, with a CAGR of 15.8% during the forecast period of 2024-2031.
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The application of artificial intelligence in government and public services aims to enhance efficiency, effectiveness, and transparency. The increasing desire for enhanced efficiency is propelling the artificial intelligence industry inside the public domain and other fields in which governmental entities frequently participate. There is a distinct necessity for AI in government and public sector resources that can alleviate administrative restrictions arising from the growing complexity of public administration. Governments may automate routine yet essential tasks, including data entry, document processing, and customer interactions, through the application of AI technology. The government can thereafter reallocate its resources to more valuable, strategic initiatives that enhance output and efficiency. The implementation of AI in governmental and public services enhances community experience and involvement. To enhance communication efficiency, AI-powered chatbots and virtual assistants can provide instantaneous responses to citizen requests. Concerns over data protection, elevated implementation costs, and complex regulatory constraints hinder business expansion.
List of Major Players in the AI in Government and Public Services Market:
• IBM Corporation
• Microsoft Corporation
• Google LLC
• Amazon Web Services, Inc.
• Accenture PLC
• Deloitte Touche Tohmatsu Limited
• SAP SE
• Oracle Corporation
• NVIDIA Corporation
• Intel Corporation
• Adobe Inc.
• Palantir Technologies Inc.
• OpenText Corporation
• SAS Institute Inc.
• Cognizant Technology Solutions Corporation
• Genpact Limited
• Infosys Limited
• Capgemini SE
• TCS (Tata Consultancy Services) Limited
• CGI Inc.
• Wipro Limited
• DXC Technology Company
• PwC (PricewaterhouseCoopers) LLP
• KPMG International Cooperative
• HCL Technologies Limited
• Other key players
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Market Dynamics:
Drivers-
The worldwide AI in government and public services industry fuels the growing demand because the government needs to be more efficient, open, and successful. Because AI technologies let governments automate routine tasks, streamline processes, and lower running costs, public servants can focus on more important tasks. AI's ability to yield data-driven insights improves policymaking, decision-making, and service delivery, resulting in more flexible and citizen-centered government. Additionally, AI in government and public services is also being used to handle infrastructure, make cities safer, and make the best use of resources because cities are getting smarter and environments are getting more complicated. They all add to the growing need for AI solutions in public and government services around the world.
Challenges:
The prime challenge is the rising issues of data privacy, high installation cost, and specialized knowledge, which are predicted to slow the growth of AI in the government and public services market. Concerns about data privacy and security are a big obstacle because dealing with sensitive citizen information necessitates stringent regulatory compliance and strong protective measures. Another issue is that smaller government organizations do not have the resources to tackle the high installation costs and complicated integration of AI technologies with existing infrastructure. Another major challenge is the need for more trained professionals to design, build, and oversee AI systems. Regulatory impediments and complicated legal frameworks also hinder public sector AI in government and public services adoption and deployment, challenging market growth in the coming years.
Regional Trends:
The North American AI in the government and public services market is anticipated to note a major market share in revenue. It is predicted to grow at a high CAGR in the near future because of high-tech infrastructure, big investments in AI research, and proactive steps by the government to improve services for the people. The region's focus on making government work more efficiently and openly supports the use of AI in many sectors. Besides, Europe had a remarkable market share because of government spending on digital transformation, legislative backing for artificial intelligence deployment, and European governments to improve service delivery and tackle social issues.
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Recent Developments:
• In April 2024, The Government of Spain, via its Ministry for Digital Transformation, the Civil Service, and IBM, has executed a Memorandum of Understanding (MoU) to enhance collaboration in Artificial Intelligence (AI) and AI supercomputing. This initiative aims to advance the development and practical implementation of open, ethical, and responsible generative AI in Spain, while sharing a vision to establish a premier suite of foundation models, encompassing both large language models (LLMs) and small language models (SLMs), proficient in Spanish and co-official languages.
Segmentation of AI in Government and Public Services Market-
By Type-
• Machine Learning
• Natural Language Processing (NLP)
• Computer Vision
• Robotic Process Automation (RPA)
• Expert Systems
• Others
By Application-
• Administrative Services
• Healthcare
• Law Enforcement and Public Safety
• Transportation and Urban Planning
• Social Services
• Environmental Management
• Tax and Revenue Management
• Defense and National Security
• Education
• Others
By Deployment Mode-
• Cloud-based
• On-premises
By End-User-
• Government Agencies
• Public Services Organizations
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Insight Ace Analytics
Diana D’souza
+917972967118
diana.dsouza@insightaceanalytics.com
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