The combined market grew 14% in the second quarter, driven by Xaas growth of 34%
Managed services fell 4% as companies curb discretionary spending
Strong interest in AI continued to drive cloud services growth in Europe during the second quarter, despite a decline in managed services demand amid macroeconomic uncertainty, according to the latest industry report from Information Services Group ( ISG ) (Nasdaq: III ), a global AI technology research and advisory firm.
The EMEA ISG Index™, which measures commercial outsourcing contracts with an annual contract value (ACV) of $5 million or more, shows that second quarter ACV for the combined market (both managed services and cloud-based as-a-service) rose 14 percent to $9.0 billion.
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