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ISG Indexa??: Global Sourcing Slows in Q4 After Record Q3

STAMFORD, Conn., Jan. 14, 2020 (GLOBE NEWSWIRE) -- The global sourcing market in the fourth quarter fell back from its record-setting third-quarter performance, despite continued strong demand for cloud-based 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.Data from the ISG Indexa??, which measures commercial outsourcing contracts with annual contract value (ACV) of $5 million or more, show fourth-quarter ACV for the combined global market (including both as-a-service and managed services) rose 6.7 percent over the prior year, to $13.9 billion, but was down sequentially from the record $14.2 billion of ACV in the third quarter.The fourth-quarter result was paced by 14.2 percent growth in the as-a-service market, to $7.0 billion, as enterprise demand remains strong for cloud-based services (Infrastructure-as-a-Service and Software-as-a-Service). Although down 2 percent from the prior quarter, it was only the second time ever as-a-service reached $7.0 billion of ACV in a quarter. Managed services, meanwhile, was relatively flat for the quarter, with ACV of $6.9 billion, up 0.1 percent.a??Digital is the default position for enterprises in todaya??s technology-driven world,a?? said Steve Hall, president of ISG. a??We dona??t see macroeconomic headwinds slowing the pace of digital change in 2020; on the contrary, we see the cost-savings gained through digitization being reinvested in new digital growth initiatives, as large enterprises are forced to reinvent themselves to compete with upstart disruptors. Ita??s clear the digital tailwinds are stronger than the macroeconomic headwinds. Digital will continue to propel the overall market forward.a??2020 Forecast
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