A new report by market research firm INPUT finds that open-source software, virtualization and geospatial technology are among the top emerging trends about to make it big on the federal stage. But tops on the 2009-2014 list of Emerging Technology Markets in the U.S. Federal Government is cloud computing, expected to be worth $1.2 billion by 2014.
Due to the Obama Administration’s forward-thinking approach to open-source technology, as well as its push to increase transparency and save energy, cloud computing and virtualization market are poised to increase by a combined $1.4 billion between 2009 and 2014. Geospatial technology and open-source software will see similar gains, by percentage, both increasing by an estimated 8 percent compound annual growth rate, the report indicated.
Meanwhile service oriented architecture (SOA) is another hot technology, looking at a 12 percent CAGR over the next five years.
Although some of these technologies have been in use in the federal sector for several years, the report says, there are a number of current factors that are set to increase demand and spending in these areas
Key market drivers currently shaping the adoption and implementation of the profiled technology areas include:
- Cost Savings
- Operational/Process Efficiency
- Energy Efficiency
- Information Sharing/Interoperability
- Focus from the Administration
Combined demand for these technologies by federal government agencies will increase from $2.6 billion in 2009 to $5.1 billion in 2014, at a compound annual growth rate of 14% during the forecast period