Online Voting System Market to Accrue $736.8 Mn, Globally, by 2031 at 9.8% CAGR: Allied Market Research

The growing use of mobile equipment and the need for improving voter experience drive the growth of the global online voting system market.

PORTLAND, Ore., Sept. 16, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Online Voting System Market by Offering (Solution, Service), by Deployment Model (On-premise, Cloud), by End-user (Government, Universities and Colleges, Enterprises): Global Opportunity Analysis and Industry Forecast, 2021-2031." As per the report, the global Online Voting System industry was estimated at $292.7 million in 2021, and is set to reach $736.8 million by 2031, growing at a CAGR of 9.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

Drivers, restraints, and opportunities

The growing use of mobile equipment and the need for improving voter experience drive the growth of the global online voting system market. In addition, ease in counting and benefits offered to physically disabled people by the online voting system will further boost the growth of global market. However, a lack of understanding about voting software and growing security concerns related to online voting is anticipated to hinder the global market growth. Nonetheless, a surge in technological breakthroughs witnessed across the government sector along with enforcement of strict government laws is projected to create new growth opportunities for the global market in the years ahead.

Download Report Sample (320 Pages PDF with Insights) at:

https://www.alliedmarketresearch.com/request-sample/9250

Covid-19 scenario:

• The online voting system market experienced stable growth during the COVID-19 pandemic, owing to the massive use of fraud detection solutions and online support.
• During the COVID-19 pandemic, a large number of countries encouraged online voting by making special arrangements for online voting to avoid physical contact and the spread of infection.
• A large number of countries have started adopting online voting due to a surge in the number of COVID-19 cases such as France and the UK.

Get detailed COVID-19 impact analysis on the online voting system market:

https://www.alliedmarketresearch.com/request-for-customization/9250

The solution segment to dominate the global market in terms of revenue by 2031

Based on the offering, the solution segment contributed to the highest market share in 2021, accounting for nearly two-thirds of the global online voting system market share. Reportedly, this segment is predicted to contribute majorly toward overall market share by 2031. The growth of the segment over the forecast period can be attributed to the ability of new solutions in helping businesses make important decisions by gathering the input of a group systematic and verifiable way. However, the service segment is predicted to register the fastest CAGR of nearly 10.7% from 2022 to 2031. The growth of the segment over the assessment period is due to the focus of the services on fulfilling client requirements such as reduced costs and enhanced software performance.  

The on-premise segment to hold the major market share over 2022-2031

On basis of the deployment model, the on-premise segment contributed to the highest market share in 2021, accounting for nearly three-fifths of the global online voting system market share. Furthermore, the same segment is anticipated to dominate the market growth over the forecast period. The growth of the segment over the forecast timeline can be attributed to the facilities provided by on-premise solutions such as full control over privacy including own company data. However, the cloud segment is predicted to register the highest CAGR of 11.0% from 2022 to 2031. The growth of the segment over the forecast timeline can be due to the low upfront cost of deploying a cloud that does not require any prior investment.

The enterprises segment to dominate the global market by 2031

In terms of the end-user, the enterprises segment contributed to the highest market share in 2021, accounting for more than two-thirds of the global online voting system industry share. Moreover, the same segment is set to make notable contributions toward the global market share during the forecast period. The growth of the segment over the forecast timeframe can be attributed to the ability of various enterprises in offering secured online voting services and helping voters to do online voting from home during the COVID-19 lockdown. However, the government segment is predicted to register the highest CAGR of 14.0% during the forecast period. The expansion of this segment over the forecast timeline is due to the government offering online voting services to disabled people in their households.

North America to retain global market domination over 2022-2031

By Region, North America contributed notably toward the global online voting system market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for more than two-fifths of the global online voting system market share in 2021. The growth of the market in the region over the forecast timespan can be credited to higher spending on digitalization among the enterprises in the region and better cybersecurity solutions resulting in humungous demand for an online voting system in the North American countries. However, the Asia-Pacific online voting system market is set to record the highest CAGR of 12.1% during 2022-2031. The growth of the regional market over the forecast period can be attributed to the high acceptance of online voting in this region which is witnessing massive digital and economic growth.

If you have any questions, please feel free to contact our analyst at:

https://www.alliedmarketresearch.com/connect-to-analyst/9250

Major market players

• Avante International Technology, Inc.
• Australian Electoral Commission
• benel Solutions
• Clear Ballot Inc.
• Dominion Voting Systems Corporation
• ElectionBuddy Inc.
• ezvote
• Hart InterCivic Inc.
• Insightrix Research Inc.
• POLYAS
• Skypunch Technology Inc.
• Smartmatic
• nVotes
• Votebox
• Votem Corp
• BallotReady
• Democracy Live Inc.

The report analyzes these key players in the global online voting system market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.    

>> LIMITED-TIME OFFER << Buy Now & Get Exclusive Discount on this Premium Report

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at:

hthttps://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenueTrial

Similar Reports:

Server Operating System Market Expected to Reach $45.3 Billion by 2031

Extended Detection and Response Market Expected to Reach $6.7 Billion by 2031

Restaurant Management Software Market Expected to Reach $17.1 Billion by 2031

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Media Contact:
David Correa
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com 

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg