The remote working environment and rapid digitization of most industries have boosted the information technology (IT) services sector’s performance since the onset of the COVID-19 pandemic. According to the latest report from Information Services Group, the market for IT and business services in the Americas hit a record high in 2021. The Americas ISG Index, which measures commercial outsourcing contracts with an annual contract value (ACV) of $5 million or more, rose 27% year-over-year to a record $41.70 billion in 2021.
This trend is expected to continue this year, driven by the increased adoption of hybrid work structures worldwide and the burgeoning metaverse. The global IT services industry is expected to grow at a 4.3% CAGR over the next six years to $1.36 trillion by 2028.
