Information Services Group, Inc. - III STOCK NEWS

Information Services Group (NASDAQ: III) has launched a research study focusing on IT platform and service providers in the retail sector, aiming to aid recovery from the COVID-19 pandemic. The findings will be detailed in two reports, Retail Platforms and Retail Services, set for release in June. These reports will evaluate how companies are adapting to digital-first strategies and consumer behavior changes. The research involved over 60 platform vendors and 70 service providers, assessing their roles in enhancing customer experiences and operational efficiencies in retail.

Asia Pacific’s IT and business services market reported record growth of 44% in 2021, reaching $16.1 billion. Despite this surge, Q4 saw a slowdown in Infrastructure as a Service (IaaS) demand, particularly in China. The full-year XaaS spending soared to $13.2 billion, with IaaS growing 47.5% to $11.7 billion. Managed services also advanced by 32% to $2.9 billion. Looking ahead, ISG anticipates a 20% growth for the global XaaS market in 2022.

The ISG Provider Lens™ report reveals that traditional banks are increasingly competing with digital financial services amidst rising consumer expectations for digital solutions. The banking sector is experiencing profit growth due to higher savings and lower credit losses. Emerging technologies like AI, blockchain, and mobile banking are being adopted to modernize operations. The report highlights the challenge of digital transformation, emphasizing the need for banks to collaborate with tech service providers for success. Accenture, Cognizant, and Infosys are recognized as leaders in the sector.

EMEA's technology and business services market achieved a record annual contract value (ACV) of US $26.5 billion in 2021, reflecting a 23% increase, the highest growth rate ever for the region.

Although Q4 ACV reached US $7.1 billion, marking a first for the quarter, the growth rate at 9% was the slowest of the year, with managed services showing signs of decline. While XaaS surged 41% to US $12.6 billion, managed services were down 16% year-over-year at US $3.5 billion. ISG forecasts a continued upward trend, expecting a 20% growth in the global XaaS market for 2022.

ISG Provider Lens™ report highlights the growing complexity in manufacturing due to the integration of industrial IoT, machine learning, and legacy operational technology. Manufacturers are increasingly focusing on OT security to combat cyber threats that could lead to downtime and financial loss. Notably, heavy industries like automotive are lagging in this area. The report evaluates 36 providers and recognizes leaders such as Argus Cyber Security, while also naming Dellfer as a rising star. The future of OT security lies in stable cloud infrastructures and advanced threat detection technologies.

Information Services Group (III) reported a record annual market for IT and business services in the Americas, reaching $41.7 billion in 2021, up 27 percent from the previous year. The fourth quarter showed a slight decline in managed services compared to Q3, with $11.5 billion in ACV, although it was a 52 percent increase year-over-year. ISG forecasts 20 percent growth in global XaaS markets for 2022, signaling a positive outlook despite recent slowdown.

ISG Provider Lens™ report reveals that companies in Germany are accelerating digital transformation timelines due to COVID-19. The report highlights a shift towards new technologies like AI, machine learning, and automation in sectors such as manufacturing and customer service. Key findings include the rise of digital services for enhanced service performance and predictive analysis. The report evaluates 44 providers, naming Accenture, Arvato Systems, Atos, IBM, and T-Systems as leaders across multiple quadrants.

Global combined ACV reached $84.2 billion in 2021, marking a 29% increase year-over-year, according to ISG. The fourth quarter saw a 32% year-over-year growth to $22.9 billion but exhibited only a 1% increase compared to Q3 2021. Despite challenges from inflation and supply chain issues, ISG forecasts a 20% growth for the XaaS market and a 5.1% growth for managed services in 2022. The XaaS market alone climbed 38% in 2021, while managed services achieved an annual record of $33 billion, up 16%. 2021 also saw record contracting activity exceeding 2,000 deals.