Home / News / Deltek Study: Federal Info Security Spending to Grow 5% Annually Through 2020

Deltek Study: Federal Info Security Spending to Grow 5% Annually Through 2020

cybersecurityA Deltek report predicts the U.S. government will increase spending on commercial information security products and services by more than 5 percent per year on average from fiscal 2015 to fiscal 2020.

Federal data protection expenditures are forecast to reach $11 billion in FY 2020, up from $8.6 billion during FY 2015, as agencies prioritize investments in modern technology as part of their cybersecurity efforts, Deltek said Tuesday.

“On one end of the spectrum, agencies are likely to continue to invest in new technologies to improve situational awareness through network monitoring and security analytics,” said John Slye, a Deltek advisory research analyst.

“At the other end, there’s an ongoing need to address and maintain basic cyber hygiene,” Slye added.

Deltek said it surveyed government personnel for the company’s “Federal Information Security Market 2015-2020” report and found that 92 percent of respondents said cybersecurity is a top priority in their agencies’ information technology programs.

The report noted agencies continue to seek partnerships with the private sector to manage and secure complex government systems and move to incorporate cybersecurity into IT procurement and management initiatives.

Check Also

SEC to Address Financial Technology Concerns, Innovations via New Hub

The Securities and Exchange Commission has opened a hub where it can coordinate with public and private sector entities to address concerns and initiate developments in financial technology.

Leave a Reply

Your email address will not be published. Required fields are marked *