The Future is Bright for Big Data
Published: November 08, 2018
Deltek’s Federal Priorities Spotlight: Big Data, 2018-2023 report examines the key reasons why the federal big data market is poised to grow in the foreseeable future.
The Federal Market Analysis team at Deltek published its latest iteration of the report that focuses on the primary trends, policies, spend and technologies driving the federal big data market. Now, more than ever, agencies are faced with mounting data and increased pressure to enhance capabilities in managing, analyzing and using that data. Top government leaders have highlighted the importance of federal data in daily operations, particularly in the call for a national Federal Data Strategy under the President’s Management Agenda.
Verified contract obligations show a rise in spending on big data tools and services with $895M in FY 2015 to over $1.1B in FY 2017. Agencies lack the expertise to handle data, turning to big data services such as analysis support for help. In fact, spend in services from FY 2015-FY 2017 outpaced big data software and hardware in both civilian and defense sectors.
Other key trends driving the big data market include:
- Research and Development – R&D continues to be the leading growth factor in the big data market. A $3.2B R&D market is expected for FY 2019 in big data related investments, particularly in high-capability computing.
- Artificial Intelligence – AI and ML are gaining stronger footholds in federal agencies and demand well-formatted data for their success.
- Enabling Technologies – Advances in IaaS, cloud analytics, in-memory technologies and metadata tagging help to combat challenges of siloed, unformatted data in the government.
Further analysis of key drivers, federal and agency-level spending in big data, leading agency initiatives, upcoming opportunities and forecasts of the addressable market can be found in Deltek’s report, Federal Priorities Spotlight: Big Data, 2018-2023.