The Online Election Voting Software market is anticipated to grow at a rapid rate over the forecast timeframe. With reference to value, the Online Election Voting Software market account for USD 263.15 Million in 2019. Furthermore, this market is estimated to reach USD 387.08 Million by 2026 with growth at a CAGR of 5.6%.
Online voting is a new means of using electronic methods to cast a vote or give an opinion online. For the organizations handling boards, councils/committee elections, polls/AGMS, and referendums this latest voting channel makes the entire process easy and flexible. The online voting system is considered to be highly secure owing to the use of voter encryption and one, two, or three-factor authentication. This technology helps maintain election efficiency, privacy protection, more participation, and also reduces election costs. Using this platform, the voters can cast their vote via physical voting, mail, or telephonic vote. Every vote is verified by the software to prevent fraud. The unquestionable result declaration process of this software is anticipated to enhance its use for future improvement
In general voting, the use of paper, staff, printing, and other physical events is more but in the online voting system, there is no need for physical involvement and this not only reduces the expenditure but also enhances its adoption. Moreover, the financial profits are possible due to less expenditure on paper ballots, postage, and printings. Furthermore, the automated process eliminates the need for manual hand counts; thereby saving time. The results are accurate due to no chances of duplicity. The results are provided on a real-time basis as there is no dependency on counting the votes in the mail. The ease-to-use, eco-friendly, and security make the online election voting software a highly demanding product across the globe. The rise in the number of electorates also increases the use of online election voting software. Even though people find reasons to abstain from voting, the online platform helps them stay ahead and reach voters from anywhere. Digitalization has helped voters live flexibly today. The online platform is a boon for the students or individuals living abroad due to work or studies. The digital opportunities help voters get a notification via email before the election starts so as to help the well-being of a nation.
Based on the segmentation analysis, the global Online Election Voting Software market is categorized into deployment voting type, offering, voting location, application, and platform. The global online election voting software market based on offering is bifurcated into software and solutions. The software category is expected to grow at a rapid rate owing to the demand for secure software so as to prevent internal and external influences for better streamlining of the election process. The software makes the election process easier and attractive. The strengthening of democracy is possible using the software as it can be used to take opinions on the feedback of elected candidates, public policy, etc. Based on deployment voting, the market is divided into on-premise and cloud-based. Of these, the cloud-based category is gaining popularity due to constant pauses in security, backup, and up-gradation. By voting type, the online election voting software is segmented into proxy voting, weighted voting, anonymous voting, and others. It is estimated that weighted voting will grow rapidly owing to its increasing use in annual meetings of the companies. On the basis of voting location, the market is bifurcated into polling sites and remote. Remote online voting is found to show tremendous growth owing to the high requirements from all the stakeholders working in various election procedures. The online election voting software market on the basis of application is categorized into vote integrity, voter upload modules, voter management services, scheduling options, third party scans, email deliverability reports, data storage and backups, GDPR, auditing, and security and vote customization. When compared to others, the demand for one-to-one voting is likely to enhance the growth of the voting integrity category. The global online election voting market by the platform is segregated into PC, smartphone, tablet, kiosks, and others. The rising smartphone user base is likely to help propel the growth of the online election voting software. Based on end-user, the market is divided into bar associations, government, universities, corporate organizations, award shows, unions, and others. The governments are the largest end-user of the online election voting software as they can generate a higher user base.
On the basis of the demographic study, the global Online Election Voting Software market is sectioned into North America, Latin America, Europe, the Middle East, and Africa, and the Asia Pacific. North America region shows high use of the online election voting software as there are many organizations that are shifting towards online voting due to the COVID 19 pandemic. Additionally, the implementation of this technology in political as well as corporate, and educational organizations in the North America region will drive the market growth over the forecast period. The European regions are also adopting this online voting in their mainstream. In 2005, Estonia showed the benefits of online election voting to other governments by implementing country-wide internet voting (i-voting) system.
Some of the key participants in the online voting software market include BALLOTEER, YesElections, eBallot, ElectionBuddy, Inc., Election Runner, ezVote, JustIssues Pty Ltd., NVOTES, OpaVote, Voting Solutions Pty Ltd., PollGateway, POLYAS International GmbH, Meridia Interactive Solution, Right2Vote, SCYTL, Scytl Secure Electronic Voting, S.A, Insightrix Research Services, and Smartmatic, amongst others.
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