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  • Monday, November 25, 2024

Report: Federal IT Contract Spending Reached $64.7B in Fiscal 2018


The federal government obligated $64.7B in fiscal 2018 information technology contracts, reflecting a 9.5 percent rise from the previous fiscal year, Bloomberg Government reported Friday.

The Department of Defense™s spending on IT contracts rose by over 12 percent to $33.8B in FY 2018, while civilian agencies™ IT contract obligations in FY 2018 jumped by 6.6 percent to $30.8B, according to an analysis by BGOV.

BGOV noted that contract obligations on cybersecurity and cloud services climbed to $6.4B and $4.1B in fiscal 2018, respectively.

The report cited that governmentwide spending on artificial intelligence contracts reached $592M in FY 2018 and that DoD™s AI spending rose by over 170 percent in the previous fiscal year.

BGOV added that it expects government spending on AI, cloud, cybersecurity and other technology services to increase in FY 2019 and succeeding fiscal years.

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