European businesses spent over US$20 billion on IT-Business Process Outsourcing (IT-BPO) in 2020, up seven per cent from the previous year.
Total global spend reached $59.8 billion in 2020, also up seven per cent from the previous year. Further, data gathered from the Information Services Group (ISG) revealed that the Europe, Middle East and Africa regions saw a record quarter for spending, with U$6.2 billion in contract value.
For the 2020 full year, the value of traditional IT services contracts globally increased by two per cent to a record U$21.4 billion.
“Demand is picking up and deals are moving forward as businesses adjust to the pandemic and look ahead to the economy reopening more fully now that vaccines have arrived,” said ISG President Steve Hall.