Created by GovTech Analytics "Global GovTech Industry Overview Q1 2024" report provides a thorough overview of the GovTech sector, including quantitative and qualitative indicators such as the distribution of GovTech companies by countries, the top 100 GovTech companies in terms of funding, and the top startup hubs and accelerators. It also includes key findings and information about the industry's overall landscape. 

The government IT sector is globally expanding as nations rush to modernise their administrations. The report highlights business-government partnerships as well as governmental initiatives in this field and experience of creating services.

Main takeaways of the report include:

• GovTech Market Expansion: The sector has grown significantly with 3,130+ companies and 1,970+ investors worldwide. The U.S. dominates the market, followed by the UK and Australia.
• Key Technologies: Technologies like AI, blockchain, IoT, and big data are at the forefront, improving public services in areas such as smart cities, cybersecurity, and healthcare.
• Investment Landscape: The sector has seen substantial investments, especially accelerated by the COVID-19 pandemic. The U.S. accounts for the majority (93%) of global GovTech funding, with total funding reaching $9.2 billion.
• Technological Applications: GovTech firms are transforming public administration by promoting digital government, smart cities, and regulatory tech. Key focus areas include improving public service delivery, fostering citizen engagement, and ensuring data security.
• Challenges: Major barriers include siloed decision-making, inadequate funding, data security concerns, and procurement complexities. Despite these challenges, the sector is positioned for further growth, driven by rising citizen expectations for more efficient, transparent, and accessible public services.
• Future Trends: Predictions include further integration of AI to improve decision-making, expansion of digital identities, and increasing cybersecurity to counter emerging threats. The report also highlights the importance of adaptive security and hyper-automation as governments embrace a digital-first approach​

You can download the full report from the link below!