Market intelligence and consultancy firm Information Services Group (ISG) recently identified Europe, Middle East & Africa (EMEA) as the region to peak in the first half of the fiscal year.
The Q2 2014 EMEA ISG Outsourcing Index stated that ACV for the region in this year’s first half amounted to €5bn which is 32% more year-on-year. The volume of contracts increased by 25 percent over the same period.
The EMEA region is likewise cited as the largest outsourcing market worldwide, accounting for more than half of all the outsourcing contracts worldwide.
At the forefront is continental Europe’s France and Germany because of the continuous rise in demand for outsourcing in both countries. More outsourcing activity is expected in the second half of 2014 due to the culmination of new closed deals. Looking at 2014 as a whole, ACV is expected to surpass 2013 figures.
The top players in Europe are UK, Germany, and France and of the three, UK took the top spot with an ACV of €1.4bn.
On the other hand, contract awards in Germany reached €740m during this year’s first half, which is higher compared to €530m posted last year brought on by strong contracting activity. The report stated that contracts awarded in the first half of 2014 were twice as many as the ones awarded in 2013 during the same period.