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2024 Update Coming Soon Published Date: Jan 2022 Number of Pages: 94
The most striking feature of any democracy is the relevance of elections where the leaders are chosen by the people, of the people and from the people.
Since elections play a major role in deciding the future of the nation, organization or any place where it is being held, it is extremely important to have a mechanism to conduct hassle free, just and systematic elections. It is with this idea that the electronic voting machines emerged.
This emerged as a replacement to the paper ballots system which made the process easier and simpler, especially for countries with a large population like India. This also eliminates the possibility of invalid votes and the counting process becomes faster. This is also a cost-effective method with lesser need to spend money on paper, printing and distribution.
It also makes the process of elections more inclusive as people with disabilities can also vote. However, there are various concerns about the security of using these machines and manipulation that can take place.
In different countries around the world, we see different sentiments regarding the electronic voting system. Countries in Europe and North America are increasingly banning the use of electronic voting machines.
An absolute different trend is seen in South America as well as Asia where more nations are adopting and showing an inclination towards the adoption of electronic voting machines.
There are multiple opportunities that drive this market. Some of them are listed below :
When the market is divided by region, we can identify the following markets North America, Europe, Asia- Pacific region, Middle East, Africa and Latin America. The Asia Pacific region captures around 40% of the total market share and hence, is the largest market for voting systems.
The main nations driving demand for electronic voting machines are India, Bhutan and Philippines. Looking at national markets, India has the largest market for electronic voting machines. It is expected the Asia Pacific region will sustain its position as the largest market in the period 2021-2026 as well.
In the Latin America region, Brazil and Peru are responsible for a prominent share of market size. Pilot programmers have been conducted by various countries in South America, Africa and Asia. Some of these countries are Ecuador, Mexico, Nigeria, Nepal, Peru and the United Arab Emirates. Namibia was the first country to implement electronic voting machines in Africa.
The demand for electronic voting systems is increasing among various end user industries such as industrial organisations, government bodies and educational institutions like colleges and universities.
There are a few factors which may act as barriers to boost demand for electronic voting systems. Some of them are listed below :
The acquisition of a new voting system to replace the county’s 15-year-old voting machines has been approved by the Collin County Commissioners Court.
Election Systems and Software’s ExpressVote, a ballot-marking system that prints out a paper ballot for each voter to review before a ballot is scanned and counted during an election, received unanimous approval from the court for a $10 million contract.
The League of Women Voters gave the system a favourable assessment after seeing it in action at the Collin County Elections Department, along with local people, precinct chairs, and LWV members.
North America
The North American market, particularly the USA, will be one of the prime markets for (Electronic Voting Machine Market) due to the nature of industrial automation in the region, high consumer spending compared to other regions, and the growth of various industries, mainly AI, along with constant technological advancements. The GDP of the USA is one of the largest in the world, and it is home to various industries such as Pharmaceuticals, Aerospace, and Technology. The average consumer spending in the region was $72K in 2023, and this is set to increase over the forecast period. Industries are focused on industrial automation and increasing efficiency in the region. This will be facilitated by the growth in IoT and AI across the board. Due to tensions in geopolitics, much manufacturing is set to shift towards the USA and Mexico, away from China. This shift will include industries such as semiconductors and automotive.
Europe
The European market, particularly Western Europe, is another prime market for (Electronic Voting Machine Market) due to the strong economic conditions in the region, bolstered by robust systems that support sustained growth. This includes research and development of new technologies, constant innovation, and developments across various industries that promote regional growth. Investments are being made to develop and improve existing infrastructure, enabling various industries to thrive. In Western Europe, the margins for (Electronic Voting Machine Market) are higher than in other parts of the world due to regional supply and demand dynamics. Average consumer spending in the region was lower than in the USA in 2023, but it is expected to increase over the forecast period.
Eastern Europe is anticipated to experience a higher growth rate compared to Western Europe, as significant shifts in manufacturing and development are taking place in countries like Poland and Hungary. However, the Russia-Ukraine war is currently disrupting growth in this region, with the lack of an immediate resolution negatively impacting growth and creating instability in neighboring areas. Despite these challenges, technological hubs are emerging in Eastern Europe, driven by lower labor costs and a strong supply of technological capabilities compared to Western Europe.
There is a significant boom in manufacturing within Europe, especially in the semiconductor industry, which is expected to influence other industries. Major improvements in the development of sectors such as renewable energy, industrial automation, automotive manufacturing, battery manufacturing and recycling, and AI are poised to promote the growth of (Electronic Voting Machine Market) in the region.
Asia
Asia will continue to be the global manufacturing hub for (Electronic Voting Machine Market) over the forecast period with China dominating the manufacturing. However, there will be a shift in manufacturing towards other Asian countries such as India and Vietnam. The technological developments will come from China, Japan, South Korea, and India for the region. There is a trend to improve the efficiency as well as the quality of goods and services to keep up with the standards that are present internationally as well as win the fight in terms of pricing in this region. The demand in this region will also be driven by infrastructural developments that will take place over the forecast period to improve the output for various industries in different countries.
There will be higher growth in the Middle East as investments fall into place to improve their standing in various industries away from petroleum. Plans such as Saudi Arabia Vision 2030, Qatar Vision 2030, and Abu Dhabi 2030 will cause developments across multiple industries in the region. There is a focus on improving the manufacturing sector as well as the knowledge-based services to cater to the needs of the region and the rest of the world. Due to the shifting nature of fossil fuels, the region will be ready with multiple other revenue sources by the time comes, though fossil fuels are not going away any time soon.
Africa
Africa is expected to see the largest growth in (Electronic Voting Machine Market) over the forecast period, as the region prepares to advance across multiple fronts. This growth aligns with the surge of investments targeting key sectors such as agriculture, mining, financial services, manufacturing, logistics, automotive, and healthcare. These investments are poised to stimulate overall regional growth, creating ripple effects across other industries as consumer spending increases, access to products improves, and product offerings expand. This development is supported by both established companies and startups in the region, with assistance from various charitable organizations. Additionally, the presence of a young workforce will address various existing regional challenges. There has been an improvement in political stability, which has attracted and will continue to attract more foreign investments. Initiatives like the African Continental Free Trade Area (AfCFTA) are set to facilitate the easier movement of goods and services within the region, further enhancing the economic landscape.
RoW
Latin America and the Oceania region will showcase growth over the forecast period in (Electronic Voting Machine Market). In Latin America, the focus in the forecast period will be to improve their manufacturing capabilities which is supported by foreign investments in the region. This will be across industries mainly automotive and medical devices. There will also be an increase in mining activities over the forecast period in this region. The area is ripe for industrial automation to enable improvements in manufacturing across different industries and efficiency improvements. This will lead to growth of other industries in the region.
Some of the major players in the electronic voting system market are :
Use of technology has been a major factor contributing to growth in various sectors and it is important to come up with a more secure system which also maintains the secrecy of ballots.
Online voting and blockchain based voting are two alternatives that could be adopted for electronic voting systems, however, there is no evidence to ensure the secrecy of ballots even in these systems. There is a need for development of a better hardware and software to be able deal with the issues stated above.
Currently, technology is used in registering voters and deciding polling stations but there is no system in place to cast and count votes using technology in many countries around the world. Estonia has implemented an online voting system in the past decade but most other countries are sceptical about using online voting methods.
In order to build trust within countries about electronic voting pilot projects can be adopted. Involvement of all the stakeholders and education regarding the pros of this system have become crucial.
Apart from security and trust, cost becomes an issue as well which is stated for not using electronic voting machines. Firstly, an upfront investment is required for acquiring these machines and then maintenance costs are also to be incurred periodically.
However, there is no sufficient information to prove that they are costlier than the paper ballot system. India and Namibia are some of the few countries which have been able to develop machines at a low cost at around $300 per unit which have basic features as compared to more sophisticated machines available for $3000- $6000 for conducting elections.
Printers have been introduced with some machines to produce a VVPAT. India is playing a monumental role in helping neighboring countries to implement this system as well. Bhutan was able to successfully conduct its elections with machines gifted by India.
