APAC IT, biz services market at record-high growth for 2021
Asia Pacific’s (APAC) IT and business services market grew at its fastest pace ever at 44% to a record $16.1 billion, according to global technology research and advisory firm Information Services Group (ISG).
The Asia Pacific ISG Index, which measures commercial outsourcing contracts with annual contract value (ACV) of US$5 million or more, showed that the full-year ACV for the combined market is the region’s best annual growth rate since 2014.
XaaS spending rose 47% to a record US$13.2 billion with infrastructure-as-a-service (IaaS) growing 47.5% to US $11.7 billion and software-as-a-service (SaaS) increasing by 40% to US $1.5 billion.
Meanwhile, managed services advanced 32% to US$2.9 billion with IT outsourcing growing 26% to US$2.3 billion, and business process outsourcing (BPO) climbing 57.5% to US$628 million.
APAC also recorded a total of 213 managed services contracts in 2021, including 24 worth more than $30 million.
Major markets that posted significant gains in 2021 include Japan (49%), Australia- New Zealand (38%), and China (30%).
Related news
- Deutsche Telekom Pilots New Virtual Office Powered by Sococo Software from Aurea · 17 Jan
- Teleperformance marks 20th year in India, prioritizes CSR · 17 Jan
- Company plans $1.5 million call center Louisiana, will hire 600 · 17 Jan
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.
