- July 27, 2021
- Posted by: Stratford Team
- Category: Business
SYDNEY–(BUSINESS WIRE)–Asia Pacific’s spending on IT and business services surpassed US $3 billion for the first time in a quarter, with record levels of spending in Q2 for both cloud-based and traditional managed services, according to the latest state-of-the-industry report from Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The Asia Pacific ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of US $5 million or more, shows the region generated US $3.4 billion in combined-market ACV in the second quarter, up 59 percent against a soft quarter last year at the outset of the pandemic, and up 35 percent from the first quarter.
ACV for cloud-based services (as-a-service) came in at a record $2.4 billion, up 50 percent over last year, on 52 percent growth in infrastructure-as-a-service (IaaS), to a record $2.1 billion, and 38 percent growth…
