ISG, Gartner Point To Increasing IT Spends: Motilal Oswal
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Motilal Oswal Report
Information Services Group and Gartner, leading global consultants and advisors to the IT services industry, released a strong forecast for industry growth in 2021.
While Gartner revised up its 2021 IT services spend for the third straight quarter, ISG hinted at a likely upward change over the next three quarters during its quarterly industry outlook call.
We view this as supportive of our positive stance on the IT sector. Here are the key takeaways:
Overall annual contract value increased 11% YoY in Q1 CY21, with the as-a-service market up 15% YoY and Managed Services up 6% YoY.
Gartner’s Q1 2021 IT spending forecast indicates ~9.0% YoY growth in 2021, following a 1.8% contraction in 2020. It further estimates 7.3% growth in 2022.
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