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Global GovTech Industry Overview

Nations are rushing to modernize their administration. Here is what’s going on. 👇

COVID-19 accelerated the need for digital technology, especially among government institutions.

Deep Knowledge Analytics conducted deep research on the GovTech industry as of the second quarter of 2022.

The research profiled approximately 930 GovTech businesses and 1,430 investors.

Some of the main findings of the report:

Top 3 Countries by the Number of GovTech Companies:

1️⃣ US - 558 companies

2️⃣ Canada – 53 companies

3️⃣ UK – 50 companies

Leading GovTech companies in terms of investments:

1️⃣ SenseTime – $2.64 Billion

2️⃣ Devoted Health - $1.97 Billion

3️⃣ Booz Allen Hamilton – $1.71 Billion

Biggest GovTech investors by the number of exits:

1️⃣ New Enterprise Associates – 556

2️⃣ Intel Capital - 473

3️⃣ Y Combinator - 444

According to the report, it is estimated that 70% of the new value created in the economy over the next decade will be based on digital platform business models.

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