Onvia has just released the third edition of its annual “10 Hotspots in Government Contracting” research, ranking the fastest areas of growth in government contracting. The report uses current, future and historical government transaction data from Onvia’s B2G Intelligence System (B2GIS) to uncover opportunities showing the most significant rates of growth in published solicitations. Government vendors will find that this year’s Hotspots represent significant opportunity for businesses of all sizes, from small businesses to large enterprises, in a vast array of industry sectors such as technology & telecom, healthcare and construction.
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
- Expanding connectivity
- Innovating education
- 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.”