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1Q 2021 Vice President and Lead Analyst Technology & Insurance Sectors Managed Services & As-a-Service Market Insights 7 April 2021 HOSTED BY Rishi Jhunjhunwala 1Q 2021 Vice President and Lead Analyst Technology & Insurance Sectors IIFL Institutional Equities @ISG_News #ISGIndex #ISGIndexInsider © 2021 Information Services Group, Inc. All Rights Reserved. Proprietary and Confidential. No part of this document may be reproduced in any form or by any electronic or mechanical means, including information storage and retrieval devices or systems, without prior written permission from Information Services Group, Inc. Welcome The ISG Experts th Steve Kathy Hall Rudy to the 74 Quarterly Partner & Chief Data & President Analytics Officer Stanton Dale Hearn Jones Partner, Energy Director & with Principal Robert Stapleton, Analyst Director, Energy Covering the State of the Managed Services & As-a-Service Industry for the Global Commercial Market @ISG_News #ISGIndex #ISGIndexInsider © 2021 Information Services Group, Inc. All Rights Reserved. ISG’s Top Findings – 1Q 2021 Q1 Continued Growth in Global Combined Market ACV +11% Managed Services outperforms for YoY second straight quarter; As-a-Service continues double-digit growth but begins to decelerate ACV = Annual Contract Value 3 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. @ISG_News #ISGIndex #ISGIndexInsider ISG’s Top Findings – 1Q 2021 Q1 Americas Demand Recovers From a Weaker 4th Quarter +6% As-a-Service solely contributed to the YoY Y/Y upside; Managed Services results declined Y/Y but did improve sequentially in a very uneven market ACV = Annual Contract Value 4 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. @ISG_News #ISGIndex #ISGIndexInsider ISG’s Top Findings – 1Q 2021 Q1 EMEA Growth Healthy for Second Straight Quarter +20% Strong deal momentum in YoY Managed Services across ITO/BPO and in largest markets: UK, DACH and France ACV = Annual Contract Value 5 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. @ISG_News #ISGIndex #ISGIndexInsider ISG’s Top Findings – 1Q 2021 Q1 Asia Pacific Results Mixed Growing As-a-Service contributed 85%+ to Combined Market ACV; +11% results pulled lower by sluggishness YoY in Managed Services as sizable transactions remained absent from market ACV = Annual Contract Value 6 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. @ISG_News #ISGIndex #ISGIndexInsider Global Broader Market Results Quarterly Trends 17.1 15.4 16.4 Combined Market ACV 9.9 8.6 9.1 surpassed $17B for the first time 6.8 7.3 7.2 Managed Services registered its Q1 Q4 Q1 Q1 Q4 Q1 Q1 Q4 Q1 second straight $7B+ quarter 20 20 21 20 20 21 20 20 21 Four mega-deals awarded; in line with results from the past two quarters 7.5% -2.8% 17.2% As-a-Service ACV had best 1Q21 1Q21 1Q21 TTM TTM TTM quarter yet, but Y/Y growth slowed from the 4th quarter Combined Market Managed Services As-a-Service TTM = Trailing 12 Months ACV = Annual Contract Value 7 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. @ISG_News #ISGIndex #ISGIndexInsider Global Results by Function Quarterly Trends ACV $B 1Q20 1Q21 ITO ACV flat; however, ADM 7.2 activity at all-time high BPO ACV rebounded with 5.8 strength in Industry-specific 18% BPO and ER&D 1Q21 7% 0.8% YoY 1Q21 IaaS ACV surpassed $7B for 1Q21 43% YoY the first time but Y/Y growth YoY 1Q21 2.7 decelerated to 18% YoY SaaS ACV surpassed $2.5B 1.4 for the first time, and its 0.0 Y/Y growth slightly increased ITO BPO IaaS SaaS ACV = Annual Contract Value 8 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. @ISG_News #ISGIndex #ISGIndexInsider IaaS Continues to Grow, But at a Slower Rate Key Trends ACV $B Global ACV Percent Growth IaaS Market continues to add 59% $2B to $5B of ACV per year 49% Overall, As-a-Service market 45% should exceed $10B a quarter by mid-2021 29% 5-year CAGR (ACV) for IaaS 24% exceeded 25% 21% Expect to see continued growth in 2021, though we may see slight pullback (200-300 basis $3.7 $5.3 $7.9 $10.2 $16.3 $19.8 $24.5 points) from 2020 numbers 2014 2015 2016 2017 2018 2019 2020 ACV = Annual Contract Value 9 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. @ISG_News #ISGIndex #ISGIndexInsider Global Service & Technology Provider Standouts THE ISG15 Our ISG Contract KnowledgeBase™ is used to determine The Big 15 placements based on the annual value of commercial contracts awarded in the past 12 months The Building 15 The Breakthrough 15 The Booming 15 @ISG_News #ISGIndex #ISGIndexInsider 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. Managed Services Market THE Accenture HCLHCL **† ISG 15 Atos IBM Global Services Capgemini Infosys Global Market Cognizant TCS DXC Technology The Big 15 As-a-Service Market Revenues > $10B Alibaba Google Amazon Web Services Microsoft China Telecom * Salesforce * New to leaderboard in 1Q21 • ** Promoted to the Big 15 from the Building 15 Providers in alphabetical order; no rankings implied. Revenues Our ISG Contract KnowledgeBase™ is used to determine placements based on sourced from D&B and individual company financial fillings. the annual value of commercial contracts awarded in the past 12 months @ISG_News #ISGIndex #ISGIndexInsider 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. 11 Managed Services Market THE Conduent * Serco * Genpact Sopra Steria ISG 15 Global Payments Tech Mahindra OptumInsight * T-Systems Global Market Orange Business Wipro Services The Building 15 As-a-Service Market Revenues $3B-$10B ServiceNow Citrix * VMware Equinix Workday * New to leaderboard in 1Q21 Providers in alphabetical order; no rankings implied. Revenues Our ISG Contract KnowledgeBase™ is used to determine placements based on sourced from D&B and individual company financial fillings. the annual value of commercial contracts awarded in the past 12 months @ISG_News #ISGIndex #ISGIndexInsider 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. 12 Managed Services Market THE EPAM Systems TietoEvry ISG 15 LTI TTEC * Mindtree Unisys Global Market Mphasis As-a-Service Market The Breakthrough 15 Autodesk Rackspace Revenues $1B-$3B Digital Realty Shopify * Dropbox Twilio Palo Alto Networks UKG * * New to leaderboard in 1Q21 Providers in alphabetical order; no rankings implied. Revenues Our ISG Contract KnowledgeBase™ is used to determine placements based on sourced from D&B and individual company financial fillings. the annual value of commercial contracts awarded in the past 12 months @ISG_News #ISGIndex #ISGIndexInsider 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. 13 Managed Services Market THE ISG 15 Birlasoft L&T Technology Services Ensono Persistent Systems Global Market EXL Softtek * As-a-Service Market The Booming 15 Snowflake Atlassian Cyxtera * Revenues <$1B Computing * Coresite DocuSign Veeva Systems Crowdstrike OVH * Zoom Video * New to leaderboard in 1Q21 Providers in alphabetical order; no rankings implied. Revenues Our ISG Contract KnowledgeBase™ is used to determine placements based on sourced from D&B and individual company financial fillings. the annual value of commercial contracts awarded in the past 12 months @ISG_News #ISGIndex #ISGIndexInsider 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. 14 Americas Broader Market Results Quarterly Trends 8.1 8.6 7.3 Highest Combined Market 4.7 4.7 5.2 quarterly ACV, up 6% Y/Y 3.4 3.4 2.6 Managed Services rebounded Q1 Q4 Q1 Q1 Q4 Q1 Q1 Q4 Q1 sequentially in what has been an 20 20 21 20 20 21 20 20 21 uneven market during the past 12 months Both IaaS and SaaS drove the 6.1% -5.4% 15.6% upside in As-a-Service market 1Q21 1Q21 1Q21 TTM TTM TTM Combined Market Managed Services As-a-Service TTM = Trailing 12 Months ACV = Annual Contract Value 15 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. @ISG_News #ISGIndex #ISGIndexInsider Americas Results by Function Quarterly Trends ACV $B 1Q20 1Q21 ITO down moderately Y/Y, but 3.5 ADM activity was up BPO moved in parallel with the 5% global market with Y/Y gains and 2.5 14% 1Q21 sequential declines 1Q21 YoY -8.0% 33% YoY IaaS and SaaS both achieved all- 1Q21 1Q21 1.7 time highs in ACV; however, Y/Y YoY YoY growth for SaaS/IaaS was the lowest of all three regions 0.8 ITO BPO IaaS SaaS ACV = Annual Contract Value 16 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. @ISG_News #ISGIndex #ISGIndexInsider Asia Pacific Broader Market Results Quarterly Trends 2.8 2.6 Combined Market ACV up 11% 2.3 2.2 2.2 1.8 0.7 Y/Y, but with a pullback 0.5 0.4 sequentially Q1 Q4 Q1 Q1 Q4 Q1 Q1 Q4 Q1 Sluggish results returned to 20 20 21 20 20 21 20 20 21 Managed Services sector with a sub $400M quarter As-a-Service remained above the 6.9% -26.2% 20.5% $2B level and accounted for 1Q21 1Q21 1Q21 nearly 85% of Combined Market TTM TTM TTM ACV Combined Market Managed Services As-a-Service TTM = Trailing 12 Months ACV = Annual Contract Value 17 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. @ISG_News #ISGIndex #ISGIndexInsider Asia Pacific Results by Function Quarterly Trends ACV $B 1Q20 1Q21 ITO fell significantly Y/Y and Q/Q 1.9 with weakness in both Infrastructure and ADM transactions 24% IaaS reached a new quarterly 1Q21 high in ACV; SaaS rebounded YoY -36% from challenging 2020 12% 1Q21 29% 1Q21 YoY 1Q21 YoY YoY 0.3 0.3 0.4 ITO BPO IaaS SaaS ACV = Annual Contract Value 18 1Q21 © 2021 Information Services Group, Inc. All Rights Reserved. @ISG_News #ISGIndex #ISGIndexInsider EMEA Broader Market Results Quarterly Trends 6.3 6.0 Combined Market ACV was up 5.0 4.1 3.5 20% Y/Y but did have a slight 2.8 2.2 2.2 2.5 sequential pullback Q1 Q4 Q1 Q1 Q4 Q1 Q1 Q4 Q1 Managed Services generated its 20 20 21 20 20 21 20 20 21 second straight $3B+ quarter, strength in the largest markets of UK, DACH and France 9.9% 5.0% 18.0% As-a-Service ACV rebounded 1Q21 1Q21 1Q21 from mid-2020 low points and TTM TTM TTM posted a new high, up 16% Y/Y Combined Market Managed Services As-a-Service TTM = Trailing 12 Months ACV = Annual Contract Value 19 1Q21 © 2021 Information Services Group, Inc.
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