The federal professional services market, one of the largest procurement categories governmentwide, is projected to dip in fiscal 2025 after at least ten years of steady growth.
High rates of contract terminations and lower demand from civilian agencies for professional services are contributing to the market shrinkage, according to a Bloomberg Government forecast.
Nearly one-fourth of federal procurement spending between fiscal 2015 and the second quarter of fiscal 2025 was in the Category Management group of professional services — which includes non-IT technical and engineering services, consulting, and administrative services.
Category Management is a governmentwide procurement initiative to improve efficiency ...