New Deltek Reports Forecast IT Investments to Reach $56 Billion
New Deltek Reports Forecast IT Investments to Reach $56 Billion for the Department of Defense and $11 Billion for the Intelligence Community By 2024
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%....