Onvia recently released its quarterly market snapshot report, the State, Local and Education (SLED) Procurement Snapshot for Q2 2017. Our analysis shows that the number of formal procurements (bids and RFPs) increased at a year-over-year rate of 5.4%, the second straight quarter to show strong growth.
While our market research team found that that the overall SLED procurement market saw major growth in government bids and RFPs in Q2, the growth was not uniformly spread across the country. Below is a copy of that infographic detailing which states saw high rates of growth, and which states saw flat or declining rates of government bids and RFPs.
The Top Areas in Government Bidding Opportunities for Q2
Q2 of 2017 showed a very strong rate of overall growth rates in government bids and RFPs, continuing an ongoing trend. With a long-term year-over-year growth rate of 0.8%, the average quarter over the past 12 months has shown a 2.1% growth rate – more than twice the rate of the historical average. Continued growth at this pace might not be likely, but the recent strength of the market is still an encouraging sign for vendors involved in government contracting.
The state, local and education (SLED) marketplace is healthy and on a path of improvement that should bode well for vendor revenues and new opportunities.Paul Irby, Onvia Market Analyst
As the infographic illustrates, some geographic areas are seeing more of these new opportunities than others. Here are a few key points pulled from Onvia’s research report:
- In total, 23 states saw high rates of growth in bids and RFPs, with rates of 10% or more
- The states with the biggest growth rates were largely clustered by region, with an overall surge of purchasing activity in the Northeast, Midwest and Rocky Mountain states
- Some states experienced a second straight quarter of high growth (10% or more) including Massachusetts, Maryland and Illinois
- Several large states that typically see high volumes of government bids and RFPs, like California, Virginia and Florida, experienced flat or downward growth rates – but due to their size, plenty of contracting opportunities still exist in those states
Uncover Public Sector Sales Success Strategies with Onvia’s Q2 Procurement Snapshot
In Onvia’s most recent snapshot of the state, local and education procurement market, we found that the local and education sectors showed very strong growth in the last three months, and that recent government spending trends fall into a longer-term “procurement cycle” that can help vendors anticipate bid volume and the mentality of buyers.
A complimentary copy of Onvia’s State, Local and Education Procurement Snapshot for Q2 2017 is available at the link below. You can also request a free consultation with one of our expert advisors to get a first-hand look at Onvia’s sales intelligence and acceleration technologies.