A recent report released by technology research and advisory firm ISG Index showed that the global outsourcing market reached a value of USD12.4 billion in the second quarter of this year, up 31% from a year earlier. The figure includes traditional sourcing, which recorded annual contract value (ACV) of USD7 billion, up 19%, and as-a-service ACV that recorded USD5.4 billion, up 51%. For the first half, combined ACV reached an all-time high of USD23.6 billion, up 17% over the same period last year. As-a-service ACV was a record USD10.1 billion, up 39%. Traditional sourcing ACV was up 5%, to USD13.5 billion, on a record volume of 946 contracts. About 61% were smaller contracts — in the USD5 million to USD10 million range — up 17% over the same period last year.
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