What are the drivers driving the growth of the online voting market globally

The explosive growth of the online voting market globally is attributed to technological progress, digitization, increased Internet access, urbanization, growing demand, adoption of advanced technologies, and increasing use in political elections.

Growth of the online voting market

Introduction

The online voting market is experiencing explosive growth and is expected to reach a value of more than $1 billion by 2030. In this article, we will examine the main factors that are driving the growth of this market worldwide.

Technological Progress and Digitization in the Public Sector

Technological advances and digitalization in the private and public sectors are making online voting solutions more accessible. Automation of voting processes and ease of use have become priorities for many organizations, such as Universities, Corporations, Associations, Foundations etc.

Increasing global Internet penetration

The increasing expansion of the Internet is enabling more and more people to participate in online voting. By 2023, the percentage of people using the Internet worldwide is more than 64 percent, up from 16.6 percent in 2005. This trend supports the spread of online voting on a global scale.

Rapid urbanization and accessibility of smart devices

Rapid urbanization and accessibility to smart devices are correlated with the growth of online voting. People in urban areas often have greater access to the Internet and digital devices, making online voting more convenient. In addition, the ease of voting via smart devices is becoming increasingly attractive and engaging.

Increased demand for online voting systems in private sectors

Interest in online voting systems is growing in many sectors, including nonpolitical organizations, businesses and associations, universities, schools, and municipalities. This growing demand is driven by the search for secure and cost-effective solutions to streamline internal decision-making processes.

Growing adoption of advanced technologies and digitization by the public

The increasing adoption of advanced technologies and digitization by the public are predisposing people to the use of online voting. Users are increasingly accustomed to conducting secure and fast online transactions and expect the same with voting.

Increasing online voting systems in general elections

Finally, the use of online voting systems is also increasing in general elections. Countries such as Estonia and Switzerland have successfully implemented online voting in national and local elections. This trend may prompt other countries to follow suit, further contributing to the growth of the online voting market.

In conclusion, the growth of the online voting market is fueled by a combination of factors, including technological advancement, digitization, Internet access, urbanization, growing demand, adoption of advanced technologies, and increasing use in political elections. This evolution promises to revolutionize the way the world participates in decision-making processes, making them more accessible, secure and efficient.