Federal IT market over the next few years will be driven by two major forces – pressure to cut federal IT budgets without losing efficiency, and the implementation of new technologies. The Administration is committed to an overhaul of the entire Federal IT organization, betting on new technologies, “rent, not buy” principle and open source. Lack of qualified IT personnel could set back but not thwart these plans. These are predictions of a new market study – U.S. Federal IT Market Forecast 2013-2018.
Market Research Media has released new report “U.S. Federal IT Market Forecast 2013-2018“. With a cumulative market valued at $518 billion (2013 – 2018), the U.S. Federal IT market is predicted to grow steadily at about 3% CAGR. The technology segments like business intelligence, cloud computing, eDiscovery, GIS and geospatial, Health Information Technology, non-relational database management systems, Smart Grid, SOA, unified communications and virtualization will see strong growth in the period 2013 – 2018. Total annual U.S. Federal IT market will surpass $93 billion by 2018.