Research Nester has released a report titled “Voting System Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Over the recent years, the adoption of mobile technologies and its usage amongst the population has increased massively, backed by the advancement in technology. Moreover, it has also been observed that there has been a massive increase in the adoption of advanced technological systems, that help individuals to upgrade their lifestyle and to grow their productivity. Voting systems, that run on a technological backbone infrastructure, have numerous benefits associated with it, such as, freedom of voting from any part of the nation, which is especially important for people with physical disabilities, who face the major challenge in moving to a poll booth for voting. On the other hand, growing population around the world, increasing evolution in the voting system technology and the rising number of industrial organizations and government parties worldwide that compete for different types of polls are some of the factors anticipated to drive the growth of the global voting system market.
The global voting system market is anticipated to achieve a CAGR of 5.14% during the forecast period, i.e. 2019-2027. The market is thriving on account of factors such as the numerous factors accompanied with voting systems, such as easy accessibility, along with the increasing internet penetration, introduction of smart devices rising demand for online voting systems in end user industries, such as industrial organizations, government parties, educational universities and colleges, along with rapid urbanization across the globe are anticipated to contribute towards the growth of the global voting system market.
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Geographically, the global voting system market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, Asia Pacific voting system market held the largest market share of 35.99% in the year 2018 and is further anticipated to reach a market value of USD 519.6 million by the end of 2027 from a value of USD 319.8 million in the year 2018. The market is primarily driven by nations such as India, Philippines and Bhutan, out of which the market in India reached the largest value of USD 179.1 million in the year 2018. Further, the market in Asia Pacific is anticipated to register a CAGR of 5.54% during the forecast period and grow by 1.54x during the forecast period, along with an absolute $ opportunity of USD 182 million during the forecast period.
However, concerns for the lack of proper knowledge for the use of voting systems, unavailability of proper infrastructure for utilizing voting systems and the growing cost of deployment for voting systems are some of the factors anticipated to impact negatively towards the growth of the global voting system market.
This report also studies existing competitive scenario of some of the key players of the global voting system market, which includes profiling of Unisyn Voting Solutions, Clear Ballot, MicroVote General Corporation, Avante International Technology, Inc., Election Systems & Software, LLC, OpaVote LLC, Hart InterCivic Inc., Simply Voting Inc., Dominion Voting Systems and Interactive Voting System B.V.
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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Voting System Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall voting system industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global voting system market in the near future.
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