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Voting System Market Segmentation By Component (Control Unit, Balloting Unit, Software, Services and Others); EVM System Type (DRE Voting System and Paper Based Electronic Voting) and End User (Government, Industrial Organizations, Educational Institutions) - Global Industry Demand Analysis and Opportunity Assessment 2018-2027

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Extensive insights into the Growth of Voting System Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • March 2019: Unisyn Voting Solutions, Inc. became the first voting system manufacturer in order to complete the Department of Homeland Security (DHS) Cybersecurity Product Assessment testing for the OpenElect® suite of products, aiming to set high standards for Election System Testing in near future.

  • January 2020: Clear Ballot announced that the New York City Board of Elections selected Clear Ballot as their post-election audit system in order to improve audit practices and increase election processes’ efficiency in New York City by using Clear Ballot’s audit technology.

Market Overview

The introduction of smart devices and increasing presence of market players through distribution channels are projected to offer additional opportunities for the market growth of both the EVMs and online voting system market. Increasing internet penetration accompanied with the factors such as easy accessibility and growing smart device users and around the world is anticipated to boost the online voting system market subsequently. Additionally, increasing 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 some of the factors anticipated to promote the growth of the global voting system market.

The global voting system market reached a value of USD 888.5 million in the year 2018 and is expected to garner a value of USD 1394.9 million by the end of 2027 by registering a CAGR of 5.14% across the globe over the forecast period, i.e. 2019-2027. Additionally, the market is anticipated to attain an absolute $ opportunity of USD 460.8 million during the forecast period, along with an incremental $ opportunity of USD 66.2 million in the year 20276 as compared to the previous year. On the other hand, the global voting system market is anticipated to grow by 1.5x during the forecast period.

Growth Highlights based on Region during 2018-2027

The global voting system market is segmented by regions into North Americas, Latin America, Europe, Asia-Pacific and Middle East and Africa. Among these regions, the market of Asia Pacific held the largest market share of 35.99% in the year 2018 and reached a market value of USD 319.8 million in the year 2018. Additionally, the market in the region is anticipated to cross a value of USD 519.6 million by the end of 2027 by registering a CAGR of 5.54% during the forecast period. The market which is primarily driven by nations such as India, Bhutan and Philippines, out of which, the market in India reached the largest value of USD 179.1 million in the year 2018. On the other hand, the voting system market in Asia Pacific is anticipated to grow by 1.54x during the forecast period, along with an absolute $ opportunity of USD 182 million during the forecast period.

Further, Brazil and Peru are the prominent countries that are driving the growth of the Latin America voting system market, where Brazil accounted for the largest market value of USD 140.7 million in the year 2018.CLICK TO DOWNLOAD SAMPLE REPORT

Voting System Market Graph

The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Market Segmentation Synopsis

By Component

The global voting system market has been segmented on the basis of component into control unit, balloting unit, software, services and others. The control unit with a value of USD 346.5 million in the year 2018, occupies the largest market share of 39% in the year 2018 in the market of voting systems across the globe. Additionally, the control unit segment is anticipated to cross a value of USD 557.2 million by the end of 2027 by registering a CAGR of 5.42% during the forecast period. Moreover, the segment is anticipated to hold an absolute $ opportunity of USD 191.9 million during the forecast period along with an incremental $ opportunity of USD 28.6 million in the year 2027 as compared to the previous year.

Voting system market share Graph

Market Drivers and Challenges

Growth Indicators

The high adoption rate of using mobile devices such as laptops, smartphone, tablets among the younger generations is anticipated to be one of the major drivers that is driving the growth of global voting system market. The penetration of smart and mobile devices among people has gradually increased over the past few years. Consumers across the globe are adopting advanced and smart innovative technologies to upgrade their lifestyle and to grow their productivity. Moreover, increasing penetration of the internet around the world, along with the numerous conveniences associated with the voting system, such as reduction in transport cost as well as time of voters and the benefits for voters with physical disabilities as they can easily vote without moving to the polling booth, are some of the factors anticipated to drive the growth of the global voting system market. Additionally, continuous evolution in the voting system technology, coupled with the rising number of industrial organizations and government parties worldwide that compete for different types of polls and the growing population, increasing globalization and awareness for voting system amongst consumers are some of the additional factors anticipated to drive the growth of the global voting system market.

Barriers

Lack of proper infrastructure and knowledge for the use of different types of voting systems in several countries, along with the increasing cost for the deployment of voting systems are some of the factors anticipated to restrict the growth of the global voting system market.

Competitive Landscape

Some of the affluent industry leaders in the global voting system market are 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.

FREQUENTLY ASKED QUESTIONS

Global Voting System Market

Part 1 Market Definition and Research Methodology

• Market Definition

• Research Objective

• Research Methodology

Part 2 Executive Summary

Part 3 Market Dynamics

• Drivers

• Challenges

• Trends

• Opportunities

Part 4 Industry Analysis

• Regulatory Landscape in Major Countries

Part 5 Global EVM Voting System Market

• Market Overview – Market Size (2018–2027)

• Market segmentation by:

o Component

o EVM System Type

o End-user

o Region

Part 6 North America EVM Voting System Market

• Market Overview – Market Size (2018–2027)

• Market segmentation by:

o Component

o EVM System Type

o End-user

o Countries

Part 7 Latin America EVM Voting System Market

• Market Overview – Market Size (2018–2027)

• Market segmentation by:

o Component

o EVM System Type

o End-user

o Countries

Part 8 Europe EVM Voting System Market

• Market Overview – Market Size (2018–2027)

• Market segmentation by:

o Component

o EVM System Type

o End-user

o Countries

Part 9 Asia Pacific EVM Voting System Market

• Market Overview – Market Size (2018–2027)

• Market segmentation by:

o Component

o EVM System Type

o End-user

o Countries

Part 10 Middle East and Africa EVM Voting System Market

• Market Overview – Market Size (2018–2027)

• Market segmentation by:

o Component

o EVM System Type

o End-user

o Countries

Part 11 Global Online Voting System Market

• Market Overview – Market Size (2018–2027)

• Market segmentation by:

o Component

o Online Voting Type

o Platform

o End-user

o Region

Part 12 North America Online Voting System Market

• Market Overview – Market Size (2018–2027)

• Market segmentation by:

o Component

o Online Voting Type

o Platform

o End-user

o Country

Part 13 Latin America Online Voting System Market

• Market Overview – Market Size (2018–2027)

• Market segmentation by:

o Component

o Online Voting Type

o Platform

o End-user

o Country

Part 14 Europe Online Voting System Market

• Market Overview – Market Size (2018–2027)

• Market segmentation by:

o Component

o Online Voting Type

o Platform

o End-user

o Country

Part 15 Asia Pacific Online Voting System Market

• Market Overview – Market Size (2018–2027)

• Market segmentation by:

o Component

o Online Voting Type

o Platform

o End-user

o Country

Part 16 Middle East and Africa Online Voting System Market

• Market Overview – Market Size (2018–2027)

• Market segmentation by:

o Component

o Online Voting Type

o Platform

o End-user

o Country

Part 17 Competitive Landscape

• Company Profiles of Key Players


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