As our research team found in its latest special report, the State & Local Procurement Snapshot for Q4 2017, the state, local and education (SLED) market surged ahead it the last quarter with an overall 5.5% year-over-year growth rate. But that surge was not experienced equally across all areas of the fragmented, complex government contracting market.
Included in our research was an infographic detailing the rates of growth in public sector sales opportunities, specific to each one of twelve industry groups. Some industries, like environmental services projects, saw major year-over-year growth in Q4 2017 while other areas, like that of construction bids and RFPs, actually declined.
Environmental Services Bids and RFPs Saw Most Growth for Second Straight Quarter
For the second straight quarter, environmental services bids and RFPs was the area with the most growth in government bidding opportunities. Part of that may be due to the increase in the number of major hurricanes and wildfires in multiple states across the country during the latter half of 2017.
Here are the top four industries, listed below, that saw a growth in purchasing activity during the last three months of the year:
- Environmental Services: This industry, with a massive year-over-year growth rate of 26.5%, had the #1 ranking in growth for local agencies and #3 for state governments.
- Financial Services and Insurance: Opportunities in this category, including banking, investing, payroll and accounting services, grew 17.7% and ranked #2 among local and state governments.
- Water and Energy: The #1 ranked growth industry for state governments came from water and energy government contracts, which saw an overall growth rate of 17.3%.
- Professional Business Services: Encompassing consulting, advertising and legal contracts, among others, this category grew by 16.3% and ranked #1 for education government agencies.
Full Report Includes Expert Analysis of Cooperative Purchasing Trends
This quarter’s report on the state, local and education government contracting marketplace includes a special feature detailing where cooperative purchasing is headed in 2018, including analysis from Tammy Rimes of National Cooperative Procurement Partners (NCPP) and Jeremy Schwartz of the National Joint Powers Alliance (NJPA), along with a wealth of data detailing market trends and future growth opportunities.
Of course, our comprehensive government contracting data that powers our reports is also the engine that feeds GovWin IQ, an industry-leading market intelligence platform, providing more government contracting leads with less noise to sales, marketing and business development professionals that do business with the public sector.
Want to learn more? Request a free trial of GovWin IQ to learn how your company can receive relevant leads every day, track the activity of your competition and grow your government sales pipeline. Or you can download your free State, Local and Education Procurement Snapshot for Q4 2017 by clicking the link below.