AI-Driven Cloud Boosts European IT Amid Managed Services Drop




📅 - The European IT and business services market experienced significant growth in the fourth quarter of 2024, driven by a surge in demand for cloud services fueled by artificial intelligence (AI). However, demand for managed services saw a notable decline during the same period, according to the latest ISG Index report by Information Services Group (ISG), a leading global technology research and advisory firm.

The combined annual contract value (ACV) for managed services and cloud-based "as-a-service" (XaaS) solutions reached $8.3 billion in Q4, a 17% year-over-year increase. However, this figure represented a 7% sequential decline from the record-breaking third quarter.

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Tags: AI

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