Global sourcing market hits USD9.5bn in Q3

Global sourcing market

The total sourcing market posted a record USD9.5bn in Q3 of this year, according to the Q3 2016 ISG Index released by Information Services Group (ISG). The strong Q3 performance of the market was attributed to the steady gains in traditional sourcing and record-high value in the as-a-service segment. Traditional sourcing annual contract value (ACV) reached USD5.8bn, up 5% from the previous quarter, while the as-a-service segment jumped 20% to USD3.7bn. The total USD9.5bn global sourcing market value was the highest since 2014. For the first nine months of 2016, the combined market, with ACV of USD28.2bn, was up 16%versus the same period in 2015.