Asia Pacific Tech Services ACV Hits Record $10B, Up 80% on AI Demand
III sits 57% above its 52-week low of $3.74.
Summary
ISG's Asia Pacific Q3 Index shows combined market ACV surged 80% to a record $10.0B, the first time the region has crossed the $10B mark. Cloud-based XaaS spending jumped 92% to $9.0B, with IaaS nearly doubling to $8.3B. The company also raised its full-year XaaS growth forecast to 60% from 30%, a significant upward revision. This follows the global and Americas Index releases earlier this month, but adds new regional detail and a materially higher outlook. The data underscores the strength of AI-driven infrastructure demand in the region, which is core to ISG's advisory business.
At the time of this announcement, III was trading at $5.88 on NASDAQ in the Technology sector, with a market capitalization of approximately $284.7M. The 52-week trading range was $3.74 to $6.45. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.