SEATTLE, April 28, 2016 /PRNewswire/ -- Onvia (NASDAQ: ONVI), the leader in government contracting business intelligence today announced the availability of the Onvia State & Local Procurement Snapshot for Q1 2016. Each quarter, Onvia publishes a market analysis report on nationwide state, local and educational (SLED) government contracting activity across 17 major industries. Each report also includes expert commentary on current trends and professional procurement advice. The Q1 2016 edition features market insight from Dan White, Senior Economist for Moody's Analytics.
In the first quarter of 2016, government SLED contracting opportunities recorded a positive rate of increase of 2.7% over Q1 2015. While slightly below last quarter's level, this result continues the trend of increasing contract volumes and supports an expectation of modest growth in 2016.
"A growth rate of 2.7% in state & local government opportunities for Q1 2016 really highlights the ability of the SLED market to continue growing in the current fiscal environment," said Alberto Sutton, Senior Vice President of Marketing.
Onvia Market Analyst Paul Irby added that for the third quarter in a row, SLED opportunity volumes have increased, indicating a more sustainable pattern of growth for 2016. "A variety of sources are also suggesting modest growth in 2016 for the SLED market. For example, the National Association of State Budget Officers (NASBO) reports that 43 out of 50 state governments enacted general fund budget increases for fiscal year 2016," explains Irby in the report.
The report segments the contracting market into 4 key industry sectors:
- AEC (Architecture/Engineering/Construction)
- Business Services (Education, Financial, Healthcare and other services)
- IT/Telecom (Consulting, Hardware, Software and Wireless/Telecom)
- OMT (Operations/Maintenance/Transportation).
The Business Services sector saw the healthiest growth rate of 5.0% year-over-year. This growth is driven by increases in government opportunities for healthcare and educational services. AEC also showed continued strength with 3.1% year-over-year growth which follows last quarter's 4.0% pace, indicating that as agencies have grown their total volumes, their infrastructure contracting kept pace.
Dan White, Senior Economist for Moody's Analytics offers guest expert commentary to help contractors better understand the challenges as well as opportunities of this market and grow their government sales. According to White, "State, local and education (SLED) agencies will face heightened budget pressures for the foreseeable future, but for contractors, this will bring opportunities for partnering."
Businesses looking to strategically grow their government sales in 2016 are encouraged to download the complimentary report for free from Onvia's website here.
For over 15 years, Onvia (NASDAQ: ONVI) has been delivering the data and tools companies rely on to succeed in the government contracting market, and agencies rely on to streamline and improve the procurement process. Onvia tracks and reports the spending of tens of thousands of federal, state and local government agencies, giving companies a single comprehensive source for conducting business with government.
For information about Onvia, visit http://www.onvia.com
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