Billions of dollars in higher education government contracts are available each year to firms involved in selling to the public sector. And few industry segments within that market are more fruitful for vendors than higher education information technology – a market that GovWin’s State, Local and Education (SLED) Market Analysis team explored in their latest report.
GovWin’s research has found that while state budgets have generally recovered at the highest level, many states have reduced their funding for public higher education (like universities and community colleges). As these higher education institutions continue to look for ways to optimize their operations, the demand for information technology contractors to provide solutions will continue to grow over the next five years.
Higher education institutional demand for vendor-furnished IT systems and services will grow from $17.9 billion in FY 2018 to $21.2 billion in FY 2023.Chris Dixon, GovWin Sr. Manager, SLED Market Analysis
Since opportunities to do business in the education market can appear years in advance, the companies with the broadest view and greatest level of marketplace information will be the ones best positioned to win more higher education government contracts. Having the right information before the competition can lead to winning deals worth millions.
What SLED IT Contractors Need to Know About the Market
By adapting data from the U.S. departments of commerce and education, the forecast model used by the GovWin SLED team creates a sophisticated, comprehensive model of the higher education market that covers all the details information technology contractors need to know.
This forecast report includes the following:
- The 2018-2023 forecast for four major technology and telecom segments (Communications & Network Services, It Hardware & Equipment, IT Services and Software Products)
- The 2018 spending outlook for the IPEDS (Integrated Postsecondary Education Data System) functional categories
- The 2018 spending profile for all 50 states (plus Washington DC), including spend by level of government, function and IT segment
Contractors can also learn how much of the spending is going to be allocated to specific categories, including academic support, institutional support, research programs and student services. Vendors who provide products and services in each of these unique areas will know just how much opportunity they will have to win government contracts from higher education agencies.
All of this and more is available publically from the expert government analysts at GovWin, and for current GovWin SLED MA subscribers, the report comes at no charge. Information technology vendors who do business with the government – and want the information they need to grow their sales – can benefit from this comprehensive research report.