SEATTLE, April 18, 2017 /PRNewswire/ -- Onvia (NASDAQ: ONVI), the leading provider of sales intelligence and acceleration technologies for business-to-government (B2G), today released its latest quarterly report analyzing state, local and education procurement trends for Q1 2017. The report reveals a notable increase in the total volume of bidding opportunities, 4.9% year-over-year, driven in part by more than $200 billion in recent voter approved infrastructure projects.
This quarter's edition introduces a new regional growth tracker that measures bid and RFP growth rates by state. The special feature for this edition outlines strategies and best practices for selling to the public sector from a panel of government market experts.
Q1 Results Highlight Increased Opportunity to Win More Government Contracts
Projects related to the more than $200 billion in infrastructure investments approved by voters in November are beginning to hit the market. Companies now have the opportunity to capture their piece of that spend.
And as the Q1 results show, 10 of the 12 major industries saw positive bid and RFP growth, ranging from 1.9% to 13.0%, with a particular focus on infrastructure-related sectors. Over the last 6 months (Q1 '17 vs Q4 '16) the following 4 industries saw the highest rates of growth:
- Transportation: Up 13.0%
- Environmental Services: Up 12.1%
- Water & Energy: Up 9.7%
- Healthcare: Up 5.4%
"In Q1 the state, local and educational government contracting market rebounded after several quarters of flat or negligible growth," said B2G Market Analyst Paul Irby. "Voters in 25 states approved measures to boost investments in infrastructure concentrated mostly around transportation, water and education-related initiatives. Companies subscribing to Onvia are well-positioned to act on future, current and historical bid information and win more contracts stemming from those initiatives."
Tracking Government Contract Leads by State
Onvia subscribers with a strategic interest in the public sector are empowered with the ability to search and filter through hundreds of thousands of federal, state, local and education government contract leads. Powered by state-of-the-art algorithms that capture both public and agency-contributed data, parse out relevant project information and enrich searches with natural language tags generated from a proprietary ontology, Onvia's B2G Intelligence System makes it easy to access information on agency contacts, transactions, competitors, channels and trends.
Using the same datasets available to subscribers, Onvia's market research team analyzed year-over-year bid & RFP growth rates for the quarter to track bidding activity by state. The results show a map where 17 states saw their volume of bids grow by more 10% and another 16 saw moderate growth of 1-9%. This indispensable intelligence is critical for businesses who are evaluating opportunities to grow and accelerate sales in the public sector.
Get the pulse on the B2G market by requesting your complimentary copy of Onvia's State & Local Procurement Snapshot for Q1 2017 here.
Onvia (NASDAQ: ONVI) is the leading provider of sales intelligence and acceleration at the core of the business-to-government (B2G) marketplace. Applying advanced technologies and domain expertise, Onvia curates data about millions of exchanged contracts, agencies and decision makers, vendors and channels, projects and investment plans, awards records and market trends. Our B2G Intelligence System (B2GIS) delivers quality leads, process agility and strategic foresight, equipping companies of all sizes to grow their public sector business and government agencies to gain procurement efficiency. Resolving the friction in this vital, complex, multi-trillion-dollar marketplace, we create mutual value for private and public sectors, taxpayers and society at large.
Visit https://www.onvia.com to explore what makes business, government and media trust Onvia for B2G market insights.
SOURCE Onvia, Inc.