SYDNEY, Australia, Feb 11 (Bernama-GLOBE NEWSWIRE) — The Asia Pacific outsourcing market, buffeted by uncertainty over China trade and civil unrest in Hong Kong, slowed in the fourth quarter, although cloud-based solutions helped buoy results, 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 ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of US $5 million or more, found Asia Pacific’s combined market (managed services and cloud-based as-a-service) slowed to US $2.05 billion of ACV, down 4 percent from the prior quarter, but up 2 percent over a strong 2018 fourth quarter. Despite a declining trend the last two quarters, it was the fifth straight quarter the region has exceeded US $2 billion in combined market ACV.