The Latest research study released by Absolute Markets Insights Online Voting Software Market with 100+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. Understanding the segments helps in identifying the importance of different factors that aid the market growth.In terms of revenue, global online voting software market was valued at US$ 243.28 Mn in 2022 and is anticipated to grow at a CAGR of 5.7% over the forecast period. Some of the Major Companies covered in this Research are: BALLOTEER, eBallot, Election Runner, ElectionBuddy, Inc., ezVote, Insightrix Research Services, JustIssues Pty Ltd., Meridia Interactive Solution, NVOTES, OpaVote, PollGateway, POLYAS International GmbH, Right2Vote, SCYTL, Scytl Secure Electronic Voting, S.A, Smartmatic, Voting Solutions Pty Ltd. and YesElections amongst others.
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Global Online Voting Software Market:
By End User
- Bar Associations
- Colleges and Universities
- Cloud based
- On premise
- Mobile Device
By Voting Type
- On Polling Site Online Voting
- Remote Online Voting
By Organization Size
- Small and Medium Enterprises
- Large Enterprises
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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The cost-effective and quick turn-around time of online ballots is contributing towards the growing demand in online voting software market.
Governments, associations, corporates, clubs, universities, housing societies and social groups conduct multiple elections every year. The traditional election, conducted by these end users, based on paper ballots and in-person voting systems, is a complex, time-consuming and costly affair. It involves setting up voting booths, printing ballots, allocating staff, arranging secure transportations and many other tasks which consumes a lot of manpower, time and funds. According to the statistics of Electoral Commission of the U.K, a total expense of US$ 129.12 million was incurred in a nation-wide referendum held in 2016 These drawbacks of the traditional election methods is creating demand for online voting software. These online voting software solutions enables governments, businesses and other end users to conduct and manage elections virtually, by allowing voters to cast ballots remotely using any device that has an internet connection. Thus, the benefits of cost-savings, reduced manpower and time along with increase in number of voters are driving the online voting software market across the globe.
However, these online elections are vulnerable to bugs and foreign attacks which compromises the security and opacity of the online voting software. The issues around online voting include server penetration attacks, client-device malware, denial-of-service attacks and others which are hampering the growth of online voting software market. In order to overcome these challenges, online voting software solutions are being used with high end-to-end security. Cryptography is a prominent new-age technology which enables voters to cryptographically verify that their vote has been counted correctly and further protects it from external attacks. West Virginia, Denver and Utah County are using blockchain-based mobile apps to allow military members and their families living overseas to cast absentee ballots. This app has a biometric safeguard system as well as facial recognition and thumb prints scanner, which ensures high security of the online elections. These upcoming technologies are anticipated to overcome the security and transparency drawbacks in global online voting software market and propel the growth of market in future years.
The recent outbreak of COVID-19 pandemic is pressurizing governments and other entities to practice safety procedures in upcoming elections to curb the spread of infection, thus, encouraging these end users to adopt online voting software solutions. Major nations including the U.S, Russia and others are making amendments in their electoral policies to allow voters to cast their vote through online channels. Thus, the coronavirus pandemic is anticipated to boost the growth of global online voting software market in upcoming years.
Online Voting Software Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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