Just like the beginning of the year of 2020, its ending has been quite topsy-turvy as well. Due to the sudden emergence of the COVID-19 pandemic, almost everything went haywire. Whether it is the real estate industry or the construction business – everyone felt the heat of this abrupt eruption of calamitous situation. Nonetheless, during the second half of the ‘cursed’ year (e.g., September to December), things did calm down slightly. An overall sense of stability returned to the world again and the same goes for India as well. Nonetheless, it still seems like the country is in a state of recovery. Many industries in the nation have not started growing at all, which, in turn, has made the situation a little bit problematic.
However, the successful uprising of some sectors, especially after the phased opening of the nationwide lockdown, did make everyone feel relieved. Although we are still not quite at it, the fundamental industries of the country have begun thriving. Due to this reason, a complete recovery from the unexpected fiasco almost feels like a matter of time to us.
Also, the tendering procedure and consumer behavior, too, had gone through a lot of changes during and post-lockdown. We, BidAssist, too, evolved during this period and tried our best to meet the demands of our customers. From July to December, almost 1.3 million Global Tenders were published, almost in an uprising manner. It was a huge milestone for both us and our consumers. So, let’s take a walk through the journey of tendering with some crucial insights from BidAssist alongside some relevant data. Hopefully, it will help you in learning more about our post-COVID condition.
Tenders By Indian States
The first half of 2020 was, indeed, bad for SMEs throughout the whole world, including India. The release of tenders got reduced to quite some extent, and most people failed to find something valuable to invest their time in. However, this particular situation changed entirely in the second half of the year.
Amongst the same, around 26% of tendering requests were brought up by the states of Maharashtra and Uttar Pradesh. While the former had delivered around 14% of the total tender count, the latter provided 12% of the same. After these two, West Bengal took third place in the same category by releasing around 8% of the total number of tenders. The fourth and fifth place went to Karnataka and Rajasthan, respectively.
The former, in this aspect, had contributed to around 6% of the overall published tenders while the latter offered almost 5%. So, as you can see, these five states have provided around 45% of tenders of the total number of tenders. The result from Maharashtra and Uttar Pradesh was quite expected due to the boisterousness of the industries in that part of India. However, the performance of West Bengal and Rajasthan was quite shocking yet welcoming, to say the least.
Anyway, the numbers suggest the revolutionary success of the industrial world of India during the COVID-19 situation. Hopefully, we can expect more of the same during the year 2021 and become more successful in our endeavor!
Let’s move onto the classification of tender through authority. So, in this aspect, the Ministry of Railways authority has had the most amount of authority coverage throughout the course. As per our records, they held around 14% of the overall coverage while the Public Works Department authority had around 6% of the same.
On the other hand, Military Engineer Services authority had almost 2% of the overall authority coverage, which, in essence, marks about 0.13 million tenders. Lastly, both the Ministry of Defense authority and Public Health Engineering Department authority, too, shared 2% of authority coverage each. Thus, they held a large chunk of the same as well.
Tenders By Value
Now, let’s take a look at the tenders through the value count. During our evaluation of the same, we found out that almost 33% of tenders, which were published in 2020, did not have a mentioned value. Thus, the actual value of the same was either not settled or unreleased until the end. However, the next 33% of the released tenders had a price range of up to INR 10 lacs. The overall count of the same (to be precise) was almost 2045400.
In the next value category, which spanned between 10 Lac to 1 Crore, we did find 27% of the total number of released tenders. Last yet not least. There were only 7% of tenders available in the value class of more than one crore. So, as you can see, the count of moderately-priced tenders was available in most numbers during the latter half of the year.
SME User’s Growth
As mentioned before, the number of published tenders had grown massively in the latter half of 2020. Thus, quite naturally and expectedly, the user-count of the same had increased similarly as well. For instance, almost 2.5 million SMEs had logged into the official website of BidAssist to search for new business opportunities. If you consider the condition of the whole world, especially India, then the number would seem quite massive to you.
However, the increase in the count of users did not get subdued at all. In August, we found that around 2.7 million people were using the official BidAssist website to find the right tender. As you have already known, the number of tenders being released back then, most of them had probably found out whatever they were looking for. Anyways, in the next month (September), the numbers were boosted again.
This time, we found that almost 2.9 million people were shuffling through the endless list of tenders on our website. In the next two months, the total number of users amplified again and came around 3.1 million and 3.3 million, respectively. At last, during the last 30 days of the year, the overall user-count increased again and went up to 3.6 million.
So, by the end of 2020, almost 3.6 million people had explored BidAssist in search of a new tenders or business opportunities. It does seem quite overwhelming, but to us, it was a sign of success and accomplishment. Hopefully, most people did end up finding everything they were looking for through the website!
Tenders Released Monthly
Before the beginning of July, the total number of Indian tenders released was nearly 6 million. In contrast to the same, around 2.4 million results of the tenders came in the same half of the year. However, in July, the total count of published tenders increased to almost 6.2 million. Conversely, around 2.5 million tender results were brought out during the same month. But, during the same period, we could not record any publication of the global tenders at all.
Nonetheless, the picture in this aspect did change by a small prospect in the next months. In August and September, almost 6.4 million and 6.6 million tenders were released throughout the states of India, respectively. In contrast to the same, almost 2.6 million and 2.7 million tender results were launched during this period correspondingly. During this period of two months, only 0.25 million global tenders were released. So, in essence, the overall performance of India was growing quite positively in the latter half of 2020.
Over the next two months (October and November), the total number of tenders published in India was around 6.8 million and 7.0 million. Just like it, the total count of tender result publication increased by a landslide as well (2.8 million and 2.9 million, respectively). During the same period, the total number of global tenders released were 0.9 million and 1.1 million. At least, in December, the overall count of published tenders was almost 7.2 million, while the tender results count touched the mark of 3.0 million. The number of global tenders, too, increased in December, reaching a count of 1.3 million.
Tenders By Countries
With the release of Global Tenders, we hit a huge milestone in our journey. If we take a look at the top 5 countries other than India, that published global tenders, we will find that the maximum number of tenders were published by the United States of America and Russia (apart from India), with USA publishing around 1,40,000 tenders and Russia publishing around 1,22,000 tenders. The other 3 contributors to Global Tenders were Bangladesh, France and Philippines.
See full report here:
Previous Growth Journey Of BidAssist