Global Sourcing Hits Quarterly Record in Q1, ISG Index™ Shows, But Momentum Slows on COVID-19 Concerns
Information Services Group, Inc. (III)
Last information services group, inc. earnings: 3/10 04:20 pm
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Source: GlobeNewswire
STAMFORD, Conn., April 08, 2020 (GLOBE NEWSWIRE) -- The global sourcing market in the first quarter surpassed $14 billion in value for the first time ever, but momentum slowed in March as concerns over the coronavirus pandemic impacted spending on managed services, according to the latest state-of-the industry report from Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm. Data from the ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of $5 million or more, show first-quarter ACV for the combined global market (both as-a-service and managed services) rose 7 percent, to a new quarterly high of $14.8 billion. Record ACV in the as-a-service segment, fueled by record demand for Infrastructure-as-a-Service (IaaS), propelled the global market to new heights. As-a-service ACV reached $7.9 billion, up 11 percent, as IaaS ACV soared 18 percent, to a record $5.9 billion in the quarter. Demand w
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