Regional market declines by double-digits, on tough compare with record Q2 last year
SYDNEY, Australia, Aug 19 (Bernama-GLOBE NEWSWIRE) — Asia Pacific, the world’s smallest outsourcing region by contact value, saw the industry’s largest decline in the second quarter, as managed services slumped in response to the COVID-19 pandemic, 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 the region’s combined market – both managed services and cloud-based as-a-service – fell 24 percent versus the prior year, to US $1.9 billion, on pandemic concerns as well as a difficult comparison with a record-high second quarter last year.