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This Is IT: Federal Cloud Spending to Top $8 Billion in FY 2021

Aug. 20, 2021, 11:05 AM

Government investments in cloud services are surging as federal agencies buy computing power, data storage, and software as utilities in an effort to control costs and take advantage of the latest technologies. The Covid-19 pandemic accelerated the trend, forcing agencies to make new investments in cloud-based infrastructure and collaboration tools to support a remote federal workforce.

Federal agencies are on track to spend $8.2 billion on contracts for cloud computing services in fiscal 2021, roughly 20% more than the $6.9 billion they spent in fiscal 2020, according to a Bloomberg Government analysis. The market is poised for further growth in ...