APAC IT and business services spending surpassed US $3B for the first time
The Asia Pacific (APAC) region’s spending on IT and other business services exceeded US$ 3 billion for the first time in a quarter, according to the latest report by global technology research and advisory firm Information Services Group (ISG).
The ISG Index, which calculates commercial outsourcing contracts with over US$5 million annual contract value (ACV), shows that the region has produced US$ 3.4 billion in combined-market ACV in 2021’s second quarter, 35% more than this year’s first quarter and 59% more than last year’s Q2.
The ACV for cloud-based services came has a 50% increase over last year to US$ 2.4 billion, the infrastructure-as-a-service (IaaS) recorded a 52% growth to $2.1 billion, and software-as-a-service (SaaS) has a 38% growth to a record $312 million.
Meanwhile, managed services experienced its best quarter in over two years with an 87% ACV of $929 million. IT outsourcing (ITO) showed an 80% growth to $800.1 million, and the business process outsourcing (BPO) services rocketed 148% to $129 million.
Scott Bertsch, partner and regional leader of ISG Asia Pacific said, “The second quarter was a real standout for the Asia Pacific region, with record demand in virtually every segment and strong growth across the board.”
Related news
- BPO Office Stock To Dry Up In 2020 · 17 Jul 2019
- Philippines Rated World’s Third Best Country For Investment · 16 Jul 2019
- Open Access BPO Opens New Office, Upgrades Website · 16 Jul 2019
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
