A Sound Federal Market for Big Data
Published: November 06, 2019
Deltek’s Federal Big Data Market, 2019-2024 report takes a deep dive look into the spending trends, policies and cutting-edge technologies influencing the federal big data market.
The federal government has made data management a top priority to support missions, echoed in the growth of data governance and policy throughout federal agencies. Unprecedented generation of structured and unstructured government data, coupled with the mounting pressure to maximize the value of data for evidence-based decision-making, will drive the future of the federal big data market.
Emerging markets such as high performance computing and artificial intelligence will boost the reliance on machine-readable, interoperable federal data, particularly in areas of national security, health care and cybersecurity.
Deltek’s Federal Big Data Market, 2019-2024 report examines the policies, people, technology markets and spending patterns shaping federal demand in big data products and services.
- Legislation and Guidance. Recent data-centric legislation and policies require agencies to establish Chief Data Officers, data-based action plans and stronger data management practices to exploit data for strategic use.
- Research and Development. Spending on big R&D continues to lead the federal big data market and prioritizes greater use of emerging technologies.
- Technology Enablers. Growth in high performance computing and artificial intelligence, as well as cloud analytics and edge computing, will drive agency need for big data resources and tools.
- Big Data Spending. Federal demand for big data services and software is growing as agencies look to enhance data management and data science capabilities. However, big data hardware spending will slow due to low-cost infrastructure.
- Lack of Expertise. The lack of a skilled workforce continues to plague agencies, opening the door for contractors to provide personnel trained in the use of big data solutions and training opportunities for government employees.
Federal spending on big data solutions to strengthen data structure, analysis and utilization, and contractor expertise to fill gaps in data science capabilities, results in a solid outlook for the federal big data market. Deltek forecasts federal demand for contractor-supplied big data goods and services will grow from $2.9 billion in FY 2019 to $4.3 billion in FY 2024 at a Compound Annual Growth Rate (CAGR) of 8.1%.
For more insight on the federal big data space, refer to Deltek’s Federal Big Data Market, 2019-2024 report.
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