As we discussed on the 1Q22 Index call this week, IT services contracting activity was very strong this quarter. Managed services generated $8.6 billion of ACV, which was up 13% Y/Y. There were more than 600 managed services awards over $5 million ACV, including six mega deals (ACV > $100M) signed this quarter, up from four this time last year.
As-a-service results were very strong as well. The market added more than $15 billion of ACV this quarter, which was up 43% Y/Y (see Data Watch). That’s three consecutive quarters of more than 40% growth, which hasn’t happened since 2018.
If you're interested in a deeper dive into the 1Q22 ACV data, I’m excited to announce our new quarterly contracting intelligence brief. It’s available to Index subscription clients and as a downloadable purchase. If you’re interested in learning more about it, please let me know.