U.S. Federal Government spending on knowledge management products and services will increase at a compound annual growth rate of 9 percent from $820 million in fiscal year 2003 to nearly $1.3 billion in FY 2008 according to a report released by INPUT, the essential market intelligence resource for companies doing business with government.
"Knowledge management solutions are an emerging area of new spending for agencies supporting homeland security missions, particularly those involving intelligence gathering, processing, and sharing," says Payton Smith, manager of Federal Market Analysis at INPUT. According to the report, the new Department of Homeland Security will serve as the focal point for much of this activity, but other agencies, such as the Department of State and the Department of Justice, will also have related requirements for knowledge management products and services. Smith adds, "Federal agencies are also addressing new requirements for information sharing solutions as they respond to OMB's goals to eliminate redundant systems. However, funding for these requirements may be realized out of savings due to the consolidations rather than new appropriations."
The report shows that federal knowledge management spending will achieve the highest growth rate in the area of professional services, including consulting, design, and integration services. Smith explains, "Homeland security initiatives and the systems consolidation goals laid out by OMB present significant challenges for agencies to integrate disparate data sources and create unified information architectures."
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