The Central Government Procurement (excluding Social Security Funds) in the UK was valued at 430 billion US Dollars PPP in 2023. Forecasted data shows a steady growth trajectory from 2024 to 2028. The year-on-year growth is approximately 7% from 2024 to 2025, 6.6% from 2025 to 2026, 6.1% from 2026 to 2027, and 5.7% from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is projected to be around 6.2%.
Future trends to watch for include:
- Potential changes in government priorities which could alter procurement levels.
- Impact of economic conditions or policy changes on procurement spending.
- Technological advancements driving efficiencies in procurement processes.
- Increased focus on sustainability and the environmental impact of procurement decisions.
