Leading commerce intelligence in business-to-government (B2G) Onvia, released the third edition of its annual “10 Hotspots in Government Contracting” research ranking the fastest areas of growth in government contracting.
Key Drivers: Efficiency, Safety, Functionality and Compliance Stimulate Demand
Within the dynamic $2 trillion B2G marketplace, spending from state, local and education (SLED) agencies reaches around $1.5 trillion annually – providing tremendous opportunity for vendors in a diverse range of industries to grow their public sector sales. As Onvia’s research reveals, the fastest growing Hotspots in government contracting for 2017 include:
Growing school bus services
Providing clean water
Serving those with disabilities
Preparing sites for construction
Strengthening disaster services
Upgrading to smart lighting
Enabling government with IT
Improving medical equipment
These purchasing areas are representative of the diverse sectors in which government agencies choose to invest their money. Purchasing decisions driving growth in each of this year’s segments were found to be influenced by the following common themes:
Efficiency: Government decision-makers are focused on saving money and improving processes
Safety: Public safety concerns are a key driver of demand
Functionality: Taxpayers and buyers are looking for more features and functionality
Compliance: Rules and standards are driving contracts and affecting what is purchased
Opportunity: Small to mid-size businesses, as well as large enterprise vendors all have a significant opportunity in government
“This year’s results reveal the current mentality of government buyers,” said B2G Market Analyst Paul Irby. “It’s simply a myth that public procurement professionals are motivated to only award the lowest bidder. With a better understanding of buyer needs, motivations and purchasing habits, vendors can set their firm up to earn more revenue from government contracts.”
The 2017 Hotspots in Government Contracting Offer a Wide Range of Opportunity
This report equips readers with useful insights for each Hotspot including the context and background driving growth, year-over-year growth analysis in published bids and RFPs and analysis on which states publish the most competitive contracting opportunities.
Looking at more than 4,000 unique industry tags, the analysis uses data from Onvia’s B2GIS to reveal the 10 fastest growing areas in B2G so marketplace participants can gain a better understanding of what’s driving government buying decisions in 2017.