New Deltek Reports Forecast IT Investments to Reach $56 Bill
HERNDON, Va., Jan. 13, 2020 /PRNewswire/ -- According to two new reports from Deltek, Information Technology spending by Department of Defense (DOD) and Intelligence Community (IC) agencies will continue to grow as they work to keep pace with the evolution of both the threat landscape and technology development. Deltek's Intelligence Community IT Landscape, 2019-2024 and Defense IT Priorities and Strategies, 2019-2024 reports, produced by the GovWin Federal Market Analysis team, examine the major budgetary, policy, acquisition and workforce issues influencing DOD's and the IC's IT priorities and acquisitions.
The increasing sophistication of adversaries, expanding threat landscape, rapid pace of technology advancement and data proliferation continue to fuel the IC's demand for tools and resources to meet mission objectives. IT solutions such as cloud computing, modern data management, big data, cybersecurity and artificial intelligence are in high demand by intelligence agencies with increasingly complex national security missions. Deltek forecasts growth in IC IT investments from $9.9 billion in FY 2019 to $11.0 billion in FY 2024 at a Compound Annual Growth Rate (CAGR) of 2.2%.
Key Findings from Deltek's Intelligence Community IT Landscape, 2019-2024 Report
Quotes from Deltek Federal Market Analysis Team
"Artificial intelligence, cloud computing and analytics solutions are empowering the Intelligence Community to share and analyze growing amounts of information more efficiently, effectively and at a faster rate."
– Angie Petty, Senior Principal Research Analyst, Deltek
"The volume and diversity of data and intelligence – such as imagery, geospatial and open-source – drive the Intelligence Community's steady demand for advanced, and increasingly automated, solutions."
– Christine Fritsch, Principal Research Analyst, Deltek
Department of Defense
The Department of Defense's IT ecosystem is undergoing a profound transformation. The DOD continues its shift to a new cloud-based infrastructure that will eventually enable the enterprise deployment of artificial intelligence. Military departments are working to provide capabilities to the warfighting edge using cloud-based platforms that also employ enterprise-wide big data analytics delivered via mobile devices. Leveraging new acquisition authority and tools such as Other Transaction Agreements (OTAs), process transformation and enhanced cybersecurity capabilities, the DOD is introducing commercial technologies at an unprecedented rate. Deltek forecasts the Department of Defense contractor addressable IT market to show modest grow from $53.0 billion in FY 2019 to $55.7 billion in FY 2024 at a Compound Annual Growth Rate (CAGR) of 1.0%.
Key Findings from Deltek's Defense IT Priorities and Strategies, 2019-2024 Report
Quotes from Deltek Federal Market Analysis Team
"The Department of Defense's transformation to a multi-domain operations construct will naturally drive unprecedented joint force integration across the DOD, which requires common standards, interoperability, and command and control."
– Alex Rossino, Principal Research Analyst, Deltek
"Cybersecurity and supply chain security are top of mind for the Department of Defense leadership and Congress. Contractors should be prepared for increased scrutiny of their IT environments, as well as the potential financial impact of complying with new security requirements."
– John Slye, Advisory Research Analyst, Deltek
GovWin is the leader in market intelligence for businesses selling to the public sector. We provide enterprise, mid-market and small business customers with the most comprehensive set of federal, state and local government contracting leads. Clients grow their sales pipelines with access to expiring term contracts, pre-RFP information and planned, funded projects, along with government contacts, competitor information and market analytics – all backed by our holistic integration and expert support.
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