Onvia’s market research team has released the latest in its series of quarterly reports, the State and Local Procurement Snapshot for Q4 2017.
Our research found that the state, local and education (SLED) market posted the strongest quarter of the year, at 5.5% increase of government bids and RFPs. This growth was experienced broadly across most of the 12 major industry sectors, and saw increases in government contracting opportunities from state, local and education government agencies.
The overall SLED market finished 2017 with a great deal of momentum, with the strongest growth rate of an already strong year. In our analysis, we delve into the top-ranked growth industries and strategies to aid sales and marketing leaders doing business in the public sector.Paul Irby, Market Analyst for Onvia
Research Shows Growth in Government Bids and RFPs in Many Industries
In our report, we measured growth for the overall SLED market by comparing the amount of government bid and RFP activity to that of the same quarter in previous years. The result showed a strong rate of growth of 5.5%, higher than the year-over-year rate of 3.1% from Q3 2017.
While the SLED contracting market, taken as a whole, saw one of the strongest rates of growth in the last several years, growth does not often happen at the same rate across the various market segments. Our research pointed to a few specific industries that saw the highest year-over-year growth rates:
The trend of growth across all types of SLED government agencies might not be one that maintains its pace throughout 2018. As Irby explains in the report, “We believe the strong growth this year in SLED government is partly a cyclical story based on a weak 2016. A growth of nearly 5% for the entire year is not normal or explainable based solely on typical growth in demand over time.”
Full Report Contains Insights on Cooperative Purchasing Among SLED Governments
The complete Q4 SLED report contains pages of valuable information, including a special feature detailing where cooperative purchasing is headed in 2018, and tips for suppliers to understand this evolving form of government buying. For this feature, we spoke to two experts on the subject of co-op purchasing: Tammy Rimes, Executive Director at National Cooperative Procurement Partners (NCPP), and Jeremy Schwartz, Director of Operations and Procurement at the National Joint Powers Alliance (NJPA).
Request your complimentary copy of Onvia’s State & Local Procurement Snapshot for Q4 2017 to get the complete picture of the SLED contracting market, identify new areas of business opportunity and understand the direction in which the cooperative purchasing trend is heading.