This series aims to provide companies who sell into the government market with useful highlights from Onvia’s Q4 2015 State & Local Procurement Snapshot and help them prepare for and better understand the purchasing activity of their target customers – government agencies. The Snapshot covers bid and RFP data from state, local and education (SLED) levels of government.
Published every quarter, this report is based in an in-depth analysis of Onvia’s powerful procurement database, which has over 600,000 contracting opportunities each year, and we supplement this analysis with 3rd party sources on key trends.
Our latest analysis focused on the state & local procurement trends in Q4 2015 and compares growth in SLED competitive bids and RFPs to the same quarter in the previous year (Q4 2014). To account for seasonality, in each edition of the report we measure growth in competitive bids and RFPs by comparing same quarter year-over-year activity.
The latest report shows that the SLED market grew at an annualized rate of 4.6% in Q4 2015 with positive numbers in nearly all industry segments and agency types. The results paint a picture of a market that is signaling positive growth in 2016 and the potential of smooth sailing.
It is encouraging to see such strong Q4 performance for the SLED market of formal, advertised government contracting opportunities. For the second quarter in a row we’ve tracked positive change on a year-over-year basis, suggesting that the previous trend of declining volumes seen over the past year-and-a-half is over.
Will 2016 continue this trend and shape up to be a year of smooth sailing or will the waters get choppy? For more on recent patterns of procurement and trends that will impact this market over the coming year read part 2 of this series here.
In the meantime, we invite you to read Onvia’s State & Local Procurement Snapshot - Q4 2015 to learn what’s happening in the market for your industry.