Managed Services ACV Down 5%, While XaaS Up 42%

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Industry-driven demand for cloud services is driving artificial intelligence, according to the latest report from Information Services Group ( ISG ) (NASDAQ: III ), one of the world's leading technology research and consultancy firms.

The EMEA ISG Index™, which measures annual contract value ( ACV ) india rcs data equal to or greater than US$5 million, shows that ACV for the combined market (both managed services and cloud-based-as-a-service) grew 17% in the fourth quarter to US$8.3 billion but slowed 7% compared to the record third quarter.

“Europe saw record demand for managed services in the third quarter, while continued economic uncertainty and geopolitical tensions weighed on the market during the fourth quarter,” said Steve Hall, President, ISG EMEA. “On the bright side, demand for cloud services increased to an all-time high on a quarterly basis as businesses re-accelerate their move to the cloud, seeking overall cost savings and greater efficiency and innovation. Artificial intelligence ".