Market Research Reports - Ken Research Government Spending Global Industry Guide | Page 2

spending on medical products, appliances, and equipment, as well as outpatient, hospital, and
public health services, research and development, and other health expenditure.
Government spending across the world has been considered to be a very sensitive issue in
many countries wherein the results of other industries are accordingly influenced owing to the
levels of government expenditure. Government spending is a large scale process and thereby
either directly or indirectly impacts various industries of any nation. Such spending are also
done on general public services, public order and safety, economic affairs, environmental
protection, housing and community amenities, and recreation, culture and religion, etc. which
accounts for the ‘others’ segment.
According to statistics, the global government spending sector has had total revenues of about
USD 28,354.1 billion in 2016 and showcased a CAGR of 3.8% wherein the social protection
segment was the industry’s most lucrative segment with total revenues equivalent to 31.5% of
the overall value. Moreover, it was noted that Europe had been the largest contributor to this
industry, reckoning for more than a third of spending in 2016. These trends are further
expected to ameliorate in the coming years; leading to a holistic developmental success for this
industry.
Lately, it has been observed that the government has commenced to plunge in capital into
several infrastructure projects and consequently, companies in the construction sector are
currently witnessing an upturn in the overall investor confidence. Thus, this industry plays a