SEATTLE, Oct. 18, 2016 /PRNewswire/ -- Onvia (NASDAQ: ONVI), leading commerce intelligence at the core of the B2G marketplace, today released the Q3 2016 edition of its State & Local Procurement Snapshot. Onvia's data shows that for Q3, the amount of formal solicitations (bids & RFPs) decreased slightly from the same quarter last year (Q3 2015) at a rate of -1.3%, which is similar to last quarter's annual rate of -1.4%. Special for this edition is an examination of top areas for SLED government IT investment.

Each quarter, Onvia publishes this report to analyze state, local and educational (SLED) government purchasing activity by industry and level of government using information from Onvia's comprehensive B2G commerce database. As a result of continued enhancements to that data, the Q3 2016 edition of the report provides targeted analysis of 12 major industries.

Looking deeper into emerging trends over the last 6 months, several industries saw positive growth rates when compared to the previous quarter (Q2 2016):

• Financial Services & Insurance - up 7.4%
• Architecture & Engineering – up 1.9%
• Professional Business Services – up 1.3%
• Construction – up 0.7%

Furthermore, the comparisons by level of government shows that state governments continue to publish more formal bidding opportunities, increasing their annual bid & RFP growth rate from around 1% last quarter to nearly 2% in Q3.

"The Q3 results point to a SLED marketplace that continues to show stability," said Onvia Market Analyst Paul Irby. "Even though published formal solicitations declined slightly for the overall market, several industry sectors and state governments saw positive growth. Moreover, the continued trend of non-traditional purchasing methods such as cooperative purchasing, piggybacking and statewide contracts can suppress the number of formal bids. But that doesn't necessarily mean fewer total dollars spent – instead it points to continued diversification in where and how agencies make their purchases."

Special Feature on Top SLED Government IT Initiatives

This quarter's special feature provides guidance and recommendations for government technology buyers and sellers on top SLED IT initiatives including: Cyber security, mobility/mobile applications, open government/open data, cloud services and business intelligence/analytics. Onvia's analysts looked at a number of sources, including the National Association of State CIOs (NASCIO), the Center for Digital Government and Onvia's own research to perform the analysis.

Get the indispensable data and insights needed to succeed in the SLED market by requesting your complimentary copy of the report here.

About Onvia 
Since 2000, Onvia (NASDAQ: ONVI) has been delivering the data and technologies 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 on the spending of tens of thousands of federal, state and local government agencies and the activity of tens of thousands companies who sell to government, giving government buyers and business sellers a single comprehensive source for success in the business-to-government (B2G) market.

For more information about Onvia, visit http://www.onvia.com

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SOURCE Onvia