Global Electronic Voting Machine Market 2024-2030

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    ELECTRONIC VOTING MACHINE MARKET

     

    KEY FINDINGS

    1. In 2021, The Global EVM market is estimated at $XXM in 2021. The market revenue flow is highly volatile and subjected to the scheduled elections across many countries.
    2. When 2020-2027 timeframe is considered, India stands as market leader in terms of volume
    3. The top 5 players, ES&S, Dominion, Smartmatic, Positivo and Hart Intervcivic occupy XX% of the market in terms of value in 2021.
    4. Some countries like India have their local players manufacturing the voting systems, In Countries like the U.S the market is highly competitive and involves 6-7 players and bidding for the EVM orders offered by local governments.
    5. In 2018, Federal National Council Affairs has started an initiative in council elections by using an advanced electronic voting system which had with biometric-based smart cards to verify voters’ identities
    6. In 2005, Estonia became the first country to offer internet voting nationally in local elections and 1.9% of people voted online. The percentage of people using the internet voting facility in Estonia increases gradually and in the 2019 parliamentary elections, 43.8% of all participants voted over the Internet.
    7. India has given technical support related to the EVM to Jordan, Maldives, Namibia, Egypt, Bhutan, and Nepal. Out of these countries, Bhutan, Nepal, and Namibia are using Electronic Voting Machines made in India
    8. In December 2019, US Congress allocated a sum of $425M in a funding dedicated towards the election security for the 2020 presidential elections.
    9. India’s 2019 Lok Sabha election was conducted using 16 lakh new Electronic Voting Machines (EVMs), the acquisition of which was approved by the Union Cabinet through a Rs 3000 crore ($400M) grant.

     

    INTRODUCTION TO ELECTRONIC VOTING MACHINE MARKET

    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.

     

    infographic: Electronic Voting Machine Market, Electronic Voting Machine Market size, Electronic Voting Machine Market trends, Electronic Voting Machine Market forecast, Electronic Voting Machine Market risks, Electronic Voting Machine Market report, Electronic Voting Machine Market share

    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.  

     

     

    infographic: Electronic Voting Machine Market, Electronic Voting Machine Market size, Electronic Voting Machine Market trends, Electronic Voting Machine Market forecast, Electronic Voting Machine Market risks, Electronic Voting Machine Market report, Electronic Voting Machine Market share

     

    ELECTRONIC VOTING MACHINE MARKET  DRIVERS    

    There are multiple opportunities that drive this market. Some of them are listed below :

    • Increasing emergence of players via distribution channels
    • Increasing internet penetration
    • Ease in accessibility
    • Rapid urbanization, especially in the Asia Pacific Region
    • Wider application in educational institutions, organizations and Government bodies
    • Growing population
    • Advancement in technology 

     

    ELECTRONIC VOTING MACHINE  MARKET SEGMENTATION

     

    Electronic Voting Machine Market By Region

    • India
    • U.S
    • Asia (Ex- China)
    • Europe
    • Rest of the world

    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.

     

    Electronic Voting Machine Market By Component

    • Software
    • Hardware

     

    Electronic Voting Machine Market By End Users

    • Government
    • Others

    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.

     

    ELECTRONIC VOTING MACHINE  MARKET BARRIERS

    There are a few factors which may act as barriers to boost demand for electronic voting systems. Some of them are listed below :

    • Lack of proper infrastructure
    • Knowledge for use of different types of electronic voting machines
    • Increasing cost for providing electronic voting machines
    • Anticipation about the efficiency of the electronic voting machines in existence

     

    ELECTRONIC VOTING MACHINE  MARKET DYNAMICS 

    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.

     

    ELECTRONIC VOTING MACHINE MARKET COMPETITIVE LANDSCAPE

    Some of the major players in the electronic voting system market are :

    1. Unisyn Voting Solutions
    2. Clear Ballot Group Inc.
    3. MicroVote General Corporation
    4. Avante International Technology Inc.,
    5. Election Systems & Software LLC
    6. OpaVote LLC
    7. Hart InterCivic Inc.
    8. Simply Voting Inc.
    9. Dominion Voting Systems Corp
    10. Interactive Voting System B.V
    11. Smartmatic International Holding B.V
    12. AutoMark
    13. Unilect
    14. IBM
    15. Premier Election solutions

     

    ELECTRONIC VOTING MACHINE MARKET  OUTLOOK

    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. 

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2024-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2024-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2024-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
     
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