Online Voting System Market Analysis Covering Size, New Innovations Trends, and Upcoming Opportunities | 2031 – EIN News

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Online Voting System Market
The report on the global online voting system market clarifies the complete market overview along with statistical information.
PORTLAND, PORTLAND, OR, UNITED STATE, October 14, 2022 / — The high adoption rate of using mobile devices and enhanced voter experience with less infrastructure propel the growth of the global online voting system market. In addition, ease of counting and advantages provided to physically disabled people are boosting the online voting system market size.
However, a lack of understanding about voting software and an increase in security concerns about online voting is expected to impede the online voting system market growth. On the contrary, an increase in the adoption of technological advancements in the government sector, coupled with effective government policies is expected to offer remunerative opportunities for expansion during the online voting system market forecast.
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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.
Depending on the deployment model, the online voting system share was dominated by the on-premise segment as it provides full control over privacy including its own company data. However, the cloud segment is expected to witness growth at the highest rate during the forecast period as it provides the facility to easily scale capacities irrespective of maintenance load.
Region-wise, the online voting system market was dominated by North America in 2021 and is expected to retain its position during the forecast period owing to high cyber security standards providing a secure online voting solution. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to growth in awareness regarding online voting.
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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.
Moreover, many experts believe online voting will inevitably become the norm across the globe as technologies become more advanced, reliable, and secure. Furthermore, officials and system analysts could work together to configure inclusive online elections systems, which is expected to provide lucrative opportunities for market growth.
In addition, internet-based voting could benefit rural voters and people with mobility challenges, offering a simpler alternative to absentee ballots and eliminating the need to travel to or navigate physical polling stations. Moreover, online voting could also overcome language barriers among voters with limited English proficiency as internet voting technologies could easily translate electronic ballots and voter instructions into other languages.
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Major players operating in the online voting system market analysis include 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, and Democracy Live Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the online voting system industry.
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