HERNDON, Va., Jan. 29, 2016 /PRNewswire-USNewswire/ -- According to a new report from Deltek – "Federal Priorities: Cloud, Big Data, Mobility, and Data Centers, 2015-2020" – federal spending on big data software, services and hardware will grow from $1.6 billion in FY 2015 to $3.2 billion in FY 2020, representing a 14% Compound Annual Growth Rate (CAGR). The lack of in-house expertise within the Federal Government coupled with the need for specialized solutions will spur investment in contractor services and solutions. Deltek expects growth to be steady as agencies develop strategies for leveraging big data technology to meet mission objectives.
Big data needs significantly outpace big data strategies in the federal government. Agencies' use of big data solutions is, and will continue to be, concentrated within the science, national security and health functional areas. These mission areas will drive demand for advanced analytics, strategic implementation support, training, data scientists and high performance computing support. Within the Department of Defense, the use of big data solutions and services related to ISR and cybersecurity data processing and analysis are growing, as is investment in Research & Development (R&D) programs.
More agencies are hiring Chief Data Officers to lead the charge in discovering the best approaches and applications for big data software and services. As agencies leverage this expertise, they are looking to other areas to leverage big data solutions. Based on technology investments outlined by agencies over the next five years, big data solutions will have broader implications, facilitating high growth potential in several areas for contractors, including facial recognition and biometrics for law enforcement, data from wearable health devices, and Intelligent Transportation Systems.
Deltek's new GovWin IQ report outlines management and spending trends in federal cloud computing, big data, mobility, and data center solutions, and profiles buying behavior for the Department of Defense as well as for the top 10 civilian agencies.
Key report findings:
- Agencies continue to lack enterprise strategies for employing big data solutions, limiting use to niche areas and pilot programs.
- Advanced analytics deployments are underway across many agencies, however agencies require consulting and technical and analytical support to understand how to fit big data into the management of daily business operations.
- The hiring of agency Chief Data Officers is becoming more prevalent, a step that should identify and focus investment in big data solutions and services
"The exponential growth of data within federal agencies has increased the complexity of IT environments," said Alex Rossino, Research Analyst at Deltek. "This creates opportunities for contractors to support agencies working to maximize the value of data."
For more information on GovWin IQ or to get the free summary of this report visit http://bit.ly/1P04u0o. The full report is free to subscribers of GovWin's Federal Industry Analysis program. Press interviews can be arranged by contacting Lauran Cacciatori.
About GovWin IQ
Deltek's GovWin IQ provides the market intelligence tools and analysis government contractors need to gain a competitive advantage and be a formidable player in the federal market. Backed by a team of government research and analysis experts, GovWin IQ provides the most powerful, comprehensive, and timely lead generation and business intelligence solutions available. More than $2.1 trillion in opportunities are tracked every year – a number no other competitor can match. www.deltek.com/govwin
Deltek is the leading global provider of enterprise software and information solutions for government contractors, professional services firms and other project- and people-based businesses. For decades, we have delivered actionable insight that empowers our customers to unlock their business potential. 20,000 organizations and millions of users in over 80 countries around the world rely on Deltek to research and identify opportunities, win new business, recruit and develop talent, optimize resources, streamline operations and deliver more profitable projects. Deltek – Know more. Do more.® www.deltek.com
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