December 18, 2015
Federal Spending on Information Security to Reach $11 Billion by 2020, According to Deltek Report
Source: Business Wire, Lauren Cacciatori, Deltek, Inc., December 1, 2015
New Deltek GovWin IQ report assesses federal government trends and priorities for information security investments through 2020
According to a new report from Deltek, federal information security spending is projected to increase over 5% per year while overall federal spending on information technology remains flat. Deltek’s new GovWin IQ report, Federal Information Security Market, 2015-2020, forecasts the federal demand for vendor-furnished information security products and services will increase from $8.6 billion in FY 2015 to $11.0 billion in 2020. As agencies struggle to stay ahead of the cybersecurity threats, more and more of their IT spend is being devoted to cybersecurity, reaching over 10% of IT spend by 2020.
Federal efforts to improve agency cybersecurity at all levels amid capability gaps and budget, personnel, and regulatory constraints will drive targeted spending increases. As agencies continue to retool IT environments with cloud, mobility, and infrastructure solutions, strategies for addressing information security gaps with advanced processes, services, skillsets, and tools will drive investment strategies.
Ninety-two percent of government respondents to a Deltek survey conducted for this report ranked cybersecurity as the top IT spending priority, easily surpassing initiatives like cloud computing and mobility, which require robust security themselves. Security vulnerabilities span a wide spectrum of needs. Read More …
Cybersecurity spending is on the rise. Contact your nearest PTAC if your company might be able to provide contracted services.
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