Information Services Group’s (ISG), a leading global technology research and advisory firm, has released its latest state-of-the-industry report. The industry report findings reveal a decline in cloud services spending across the Asia Pacific region, largely due to turbulence within China’s tech sector.
In the fourth quarter, Asia Pacific’s Information Services Group Index™ saw a 33% decline in total average contract value (ACV) for managed services and cloud-based anything-as-a-Service (XaaS) to US $3.4 billion. Compared to the third quarter, combined market spending was up by 14%.
The managed services sector did better than the overall market in the fourth quarter. Compared to the previous quarter, overall managed services spending was up by 76%.
The value of contracts increased by 21% to US $1.3 billion. The number of contracts signed increased by 52% compared to the same time last year. more here