A Deltek report predicts that federal spending on big data management software, hardware and services will increase from $1.5 billion in fiscal 2015 at a 14 percent compound annual growth rate to hit $3.2 billion by fiscal 2020.
Deltek said Friday it forecasts agencies to increasingly use big data platforms for healthcare, national security, and scientific missions over the next four years.
These mission areas could also drive demand for data scientists, advanced analytics and high-performance computing support services through 2020.
“The exponential growth of data within federal agencies has increased the complexity of information technology environments,“ noted Alex Rossino, senior principal research analyst at Deltek.
“This creates opportunities for contractors to support agencies working to maximize the value of data,” Rossino added.
The Defense Department is projected to invest in big data technology and services that can support the agency’s intelligence, surveillance, reconnaissance and cybersecurity operations.
Deltek also sees facial recognition, law enforcement-related biometrics, wearable medical devices and intelligent transportation systems as potential growth areas for big data companies.