Cloud Dominates Asia Pacific Service Spend in Q1: ISG Index Saturday, May 1, 2021 1:40PM IST (8:10AM GMT) IaaS and SaaS now at a record 85% of region’s IT and business services market
Sydney, Australia:
Spending on cloud-based services reached a record 85 percent of the Asia Pacific technology and business services market in the first quarter, as demand for IaaS and SaaS services rose by double digits even as demand for traditional managed services slumped, according to the latest state-of-the-industry report from Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The Asia Pacific ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of US $5 million or more, shows the region generated US $2.6 billion in combined-market ACV in the first quarter, up 11 percent over the prior year, but down 9 percent from a record high in the fourth quarter.