Global demand for technology and business services reached a record high in the fourth quarter, as the sourcing industry continues to recover from its pandemic-related downturn. ISG Index measures commercial outsourcing contracts with annual contract value (ACV) of $5 million or more, show fourth-quarter ACV for the combined global market (both as a service and managed services) reached $16.0 billion, up 13% over last year and up 9% from the third quarter.
Global Forecast to 2021:
- Cloud-based services to grow 20%
- Managed Services to grow 3%