SYDNEY, Australia, Oct 30 (Bernama-GLOBE NEWSWIRE) — Buffeted by pandemic concerns, the managed services market in Asia Pacific fell in the third quarter to its lowest level in 14 years, 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’s managed services market plummeted 48 percent in the third quarter, to US $338 million, its worst showing since 2006. Within managed services, information technology outsourcing (ITO) was down 50 percent, to US $277 million, and business process outsourcing (BPO) was down 32 percent, to US $61 million.