The forecast for sub-central government procurement in the UK indicates a gradual decline from 2024 to 2028. Beginning at 34.49% of general government procurement in 2024, the value is expected to systematically decrease to 33.65% by 2028, reflecting a slight decline in the share of total procurement. Between 2023 and 2024, analysts should anticipate a modest reduction in market share.
Year-on-year variations reveal an incremental decrease, with a consistent negative trend over the five-year projection period. The compound annual growth rate (CAGR) from 2024 to 2028 suggests a minor annual reduction, indicating a stable but contracting share of procurement.
Future trends to watch for include changes in government policy affecting procurement, market responses to economic conditions, and technological advancements influencing procurement efficiency and cost. Additionally, it will be crucial to monitor any shifts in the broader economic environment that may impact government spending priorities.
