FedRAMP ROI Expectations: Separating Myth from Reality
Solutions Review, Friday, October 18th, 2024
The world's largest buyer of IT and cybersecurity solutions is not a tech giant or a Fortune 50 company but the U.S. Federal Government.
In 2024, U.S. federal agencies will spend more than $80B on private IT solutions and $9B on cloud-based solutions specifically. This represents a huge sales opportunity for vendors, and the venture capital and private equity firms that back these companies are eager to see these solutions scale within the U.S. public sector market. But the journey is not for the faint of heart. Before a federal agency can purchase any solution, it must achieve FedRAMP authorization. This is typically a multi-year, multi-million-dollar investment-and even then, there is no guarantee of ROI.