Federal Information Security Spending to Reach $12 Billion by 2021, According to Deltek

HERNDON, Va., Dec. 15, 2016 /PRNewswire-USNewswire/ -- According to a new report from Deltek, federal IT security spending will continue to grow despite a relatively flat IT market. Given the growth in scope and sophistication of diverse and persistent threats, security is at the top of most agencies' priority lists. Deltek's GovWin IQ Federal Information Security Market, 2016-2021 report provides analysis of the trends and drivers shaping the federal information security marketplace, and predicts spending growing from $9.3 billion in FY 2016 to $12.0 billion in 2021 at a Compound Annual Growth Rate (CAGR) of 5.3%.

The complexity of agency IT environments, the vulnerabilities and challenges of hardening legacy systems, and the breadth of cyber-threats continues to challenge progress in increasing federal cybersecurity. Agencies will continue to look to rely heavily on industry for assistance with a broad scope of solutions and services.

KEY FINDINGS

• Growing Market – Although federal spending on IT in general continues to remain effectively flat over the forecast period, cybersecurity spending growth is strong. Strengthening cybersecurity remains at the top of the priority list for federal agencies.
• Modernization Fuels Demand – Beyond security-specific activities, implementations of cloud, big data, and mobility solutions, as well as infrastructure modernization efforts, will provide growth opportunities as these efforts provide opportunities for agencies to rethink and strengthen cybersecurity.
• Tying Cyber to Warfighting – Defense organizations are struggling with strategies to integrate cyber operations with warfighting operations. The goal is not only to ensure the security of traditional domain tools and tactics, but to incorporate offensive and defensive cybersecurity capabilities into operational engagements.
• Skill Demand – The need for skilled operators will sustain demand for contracted services, especially in the civilian sector. However, the Department of Defense (DoD) deterrent or offensive cyber capabilities and "inherently governmental" areas limit addressability.
• Security by Design – Government-wide policies addressing IT acquisitions and management continue to insert greater cybersecurity requirements into nearly every aspect of the federal IT acquisitions and management lifecycles.

DELTEK ANALYST QUOTES

"The federal cybersecurity landscape remains as complex and robust as ever, with agencies working to address wide-ranging issues from stopping intrusions and patching legacy systems to identifying insider threats and maintaining deterrence. It really takes an 'all-hands and methods' perspective."

– John Slye, Advisory Research Analyst, Deltek
@GovWinSlye

"All contractors should be tuned into cyber policy, whether they sell cyber solutions or not. Security requirements will continue to be the backdrop for all things IT and drive changes in policy, request for proposal language, vendor system requirements and workforce development."

– Deniece Peterson, Director of Research, Deltek
@GovWinPeterson

For more information on GovWin IQ and this report, visit the "Federal Information Security Market, 2016-2021" page or download the free summary here. The report is free to subscribers of GovWin's Federal Market Analysis program.  Press interviews can be arranged by contacting Lauran Cacciatori.

About Deltek
Deltek is the leading global provider of enterprise software and information solutions for government contractors, professional services firms and other project-based businesses. For decades, we have delivered actionable insight that empowers our customers to unlock their business potential. 22,000 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

Deltek Contact:
Lauran Cacciatori
Senior Director, Corporate Marketing and Communications 
[email protected]

SOURCE Deltek

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