Onvia recently released our latest quarterly report, the State, Local and Education (SLED) Procurement Snapshot for Q2 2017. Our findings indicated that the SLED market experienced a second straight quarter of strong growth in government bids and RFPs.
Included in the report is an infographic that measures the quarterly growth rate of published bids and RFPs over the last six months, broken down by 12 major industry groups. You can see a copy of that infographic below.
Education Leading with 6.1% Growth in Government Contracting Opportunities
The current quarter experienced the highest growth rate that this series of reports has seen, dating back to 2014 – an encouraging sign for those doing business with the government. While the overall market was strong, a few industries showed particularly well in terms of contracting activity.
Education bids and RFPs saw the highest rate of growth in Q2, up 6.1% from Q1 of the same year. One of the factors behind this was a spending increase on infrastructure. This increase was driven in part by voters in 25 states who approved more than $200B in infrastructure projects in the November 2016 elections. Many of these projects were themed around education infrastructure like the construction and renovation of new schools.
Three other industries saw a growth in purchasing activity of more than 2% from Q1 to Q2 of 2017:
- Architecture & Engineering: Also boosted by an increase in infrastructure spending, this sector experienced 4.2% of growth and was the third-ranked industry among local governments.
- Technology & Telecom: The top-ranked industry from both state and local agencies, technology and telecom bids and RFPs grew by 3.9% overall last quarter.
- Professional Business Services: These services, including management consulting, personnel, marketing and human resources, saw a growth rate of 2.4% overall.
Contractors should be aware that different types of government agencies have different purchasing and budgeting priorities, meaning that an industry with a high rate of growth in opportunities from one type of agency might have a low rate of growth at a different level. The below chart highlights areas of stronger growth or expansion, by industry, within state, local and education government agencies.
Download the Full Report to Gain the Most Insight into Public Sector Sales
Onvia’s snapshot of state, local and education procurement for Q2 2017 provides additional insights and perspective for public sector sales, marketing and business development professionals. This edition of the report also offers a special section from Larry Allen, President of Allen Federal Business Partners, that outlines strategies for maximizing win-rates and winning federal business opportunities ahead of the federal fiscal year-end on Sept. 30.
Click the link below to download a complimentary copy of Onvia’s State, Local and Education Procurement Snapshot for Q2 2017. Or you can request a free consultation to see how our sales acceleration and intelligence can help guide your company to win more government contracts.