Global combined ACV for the third quarter up 40%, to a record $21.8 billion

Cloud-based as-a-service spend up 55%, highest growth rate ever, to record $13.4 billion

Managed services climbs 22%, to a record $8.4 billion, with record contracting activity

ISG raises its 2021 forecasts again for both as-a-service and managed services

STAMFORD, Conn., October 12, 2021–(BUSINESS WIRE)–The global market for technology and business services grew at its fastest pace ever in the third quarter, propelled by surging demand for cloud computing and other digital capabilities, 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 third-quarter ACV for the combined global market (both as-a-service and managed…

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