Voting System Market Size

Voting System Market size is poised to reach USD 1.2 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of voting system was USD 495 Million. The reason behind this growth is impelled by the growth in mobile technology, as people in advanced economies are more likely to have mobiles and smartphones, to use social media and the internet than people in emerging economies. The development of such media technologies has created a new application that will make the voting process very proficient and straightforward. For instance, in October 2021, the Telangana State Election Commission (TSEC) announced that it had developed India's first smartphone-based e-voting solution in the face of the COVID-19 pandemic that had rushed the world into all-digital operations.

Furthermore, with the continuous development of online voting system technology and the increase in government parties along with industrial organizations globally, the demand for solutions in the voting system market is at a surge. The number of unrecognized registered political parties has increased twice between 2010 and 2018. From 1094 in 2010, the number has reached 2095 as per the latest order of the Election Commission of India (ECI). The number increased by over 17% between 2013 & 2014, and now between 2017 & 2018, it has already increased by over 11%.