Combined market ACV up 20% in Q4, driven by 33% growth in cloud services Managed services growth slows to less than 3% Combined market ACV hits record $104 billion for the full year ISG forecasts 18% growth for XaaS, 4.5% growth for managed services in 2025 STAMFORD, Conn.--(BUSINESS WIRE)-- Global spending on IT and business services rose by double-digits in the fourth quarter, fueled by a sharp increase in cloud demand driven by AI, according to the latest state-of-the industry report from Information Services Group ( ISG ) (Nasdaq: III ), a leading global technology research and advisory firm. Data from the ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of $5 million or more, show fourth-quarter ACV for the combined global market (both managed services and cloud-based services) at a record $28.2 billion, up 20 percent versus the prior year.