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Information Services Group, Inc. reports developments as a global AI-centered technology research and advisory firm serving enterprise technology and business-services markets. The company publishes research on digital transformation, AI adoption, sourcing, cloud and data analytics, provider ecosystems, governance, risk, software, network and technology strategy.
Recurring news includes ISG Provider Lens® studies across industries such as healthcare, life sciences, aerospace and defense, automotive and mobility, SAP ecosystems and global capability centers. Company updates also cover quarterly results, GAAP and non-GAAP performance measures, advisory-market trends and the role of AI, automation, data platforms and managed services in enterprise operations.
ISG Provider Lens™ report reveals challenges facing European insurers amid ongoing crisis conditions since 2020. The report highlights increased demand for services to modernize technology and adapt to changing regulations and consumer expectations. Notably, rising claims during the pandemic, coupled with issues such as inflation, geopolitical uncertainties, and climate-related damages, have contributed to a state of 'permacrisis' within the industry. Insurers are seeking providers with expertise in consulting and transformation, while also facing a significant skills shortage exacerbated by Brexit. The report evaluates 33 providers, naming Accenture, Cognizant, and TCS as Leaders in all quadrants.
AWS is enhancing its training programs to bolster its developer ecosystem, according to the 2022 ISG Provider Lens™ report. This report highlights that AWS continues to lead as the most-used public cloud provider in the U.S., with 70% of U.S. public cloud customers utilizing its services. The training initiatives are addressing the skill gap in cloud resources, making AWS more competitive against Google and Microsoft, which are also advancing their cloud offerings. The demand for AWS consulting and managed services is growing, especially in large enterprises, driven by a surge in cloud adoption.
The global IT and business services market faced challenges in Q4, primarily due to decreased demand for infrastructure-as-a-service driven by lockdowns in China. According to ISG, the total annual contract value (ACV) for Q4 reached $22.9 billion, down 7% year-over-year. Managed services saw a slight growth of 2% to $9.3 billion, while the as-a-service market experienced a notable decline of 12%. Despite these setbacks, ISG forecasts a growth rate of 17% for XaaS and 5% for managed services in 2023, citing potential improvements in the economic landscape.
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U.S. insurance companies are increasingly outsourcing services to improve efficiency and customer satisfaction, driven by challenges from the COVID-19 pandemic, inflation, and evolving customer needs, according to the ISG Provider Lens™ report. Insurers are leveraging digital technologies and collaborating with service providers to create personalized products and adapt to new market dynamics. The 2022 report evaluates 50 providers and identifies leaders like Accenture and Cognizant across various service categories. These partnerships are crucial for enhancing operational capabilities and responding to rising consumer expectations.
Information Services Group (III) has launched a study on digital engineering services aimed at enhancing product development and support within enterprises. Scheduled for release in April 2023, the findings will inform buyers about vendor relationships and available offerings. The report includes four quadrants: Design and Development, Integrated Customer Engagement, Platforms and Applications, and Intelligent Operations. The research reflects a growing trend towards digitization, as companies strive for quicker, cost-effective product lifecycles.
State and local governments in the U.S. are increasingly outsourcing their IT modernization efforts due to staffing shortages and financial constraints, as highlighted in the latest ISG Provider Lens report. The report reveals that many agencies are migrating their Oracle implementations to the cloud to improve efficiency and data sharing. With ongoing labor shortages exacerbated by the COVID-19 pandemic, external service providers are becoming essential for these transitions. Enhanced data management and security against cyber threats are also critical considerations during this modernization process.
According to the latest ISG Provider Lens report, Swiss banks are undergoing significant digital transformations to compete with emerging fintechs and tech giants like Google and Amazon. Established banks are diversifying their partnerships beyond traditional IT service providers to meet the demands of tech-savvy customers. The report highlights the importance of modernization, governance risk compliance, and innovative payment solutions. Notable leaders in this space include Accenture, Capgemini, and IBM. The shift towards integrated risk platforms and real-time payment capabilities underlines a critical evolution in the Swiss banking sector.
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Information Services Group (Nasdaq: III) released a report indicating a significant transition among U.S. enterprises towards Oracle Cloud Applications (OCA) post-pandemic. The growing demand for integrated IT environments is pushing companies to migrate towards unified platforms that reduce costs and enhance operational efficiency. The report highlights ongoing growth in the Oracle ecosystem, with enterprises focusing on migration due to planned end-of-support for on-premises applications by 2033. However, some sectors are slower in adopting OCA, seeking more industry-specific features.