KUALA LUMPUR, Feb 14 -- Global Infrastructure Partners (GIP) has announced that Hillbrook Partners’ team, including its founding partners Charles Roast and Justin Symonds, have joined GIP in London.
They will focus on infrastructure investments in the transportation sector, according to a statement.
“We are pleased that Charles, Justin and their team are joining GIP as we continue to invest in our best in class team,” said GIP chairman and managing partner, Bayo Ogunlesi.
“Their expertise and experience in the Transport industry will further enhance GIP’s capabilities as we identify opportunities to deliver attractive returns for our investors by investing in and managing high-quality infrastructure assets in the sector.”
Hillbrook Partners, which was formed in 2013 has provided independent mergers and acquisitions advice to its clients, with a particular focus on investments in transport assets including airports, ports, rail and road infrastructure.
Speaking about the move, Hillbrook’s founding partners commented: “We have enjoyed working with our clients on a variety of interesting and complex transport transactions and we believe our move to GIP will enable us to work with them in new and different ways.”
GIP is a leading independent global infrastructure investor. More details at www.global-infra.com.
-- BERNAMA
Wednesday 19 February 2020
Monday 17 February 2020
LEDDARTECH JOINS ECOSYSTEM PARTNER RENESAS ELECTRONICS TO EXHIBIT LIDAR TECHNOLOGY AT AV20 SILICON VALLEY FEBRUARY 26-28
QUEBEC CITY, Feb 17 (Bernama-GLOBE NEWSWIRE) -- LeddarTech®, an industry leader in LiDAR technology providing the most versatile and scalable auto and mobility LiDAR platform, announces today that it will exhibit the result from the collaboration with its Ecosystem partner Renesas at the AV20 Silicon Valley Conference from February 26-28 at The Pullman San Francisco Bay. Over the years, this event has proved itself to be the premier exchange for industry leaders, engineers, customers, regulators, solution providers and academia to learn, share and connect on the latest roadblocks, regulations reform, innovative developments and future trends in the industry.
LeddarTech is excited to collaborate with Renesas and will demonstrate the award-winning Leddar™ Pixell, a 3D solid-state cocoon LiDAR for autonomous shuttles, delivery vehicles and robotaxis. The Leddar Pixell features the LCA2 LeddarEngine™, for which LeddarTech collaborated with Renesas. The teams worked closely in the design and manufacturing of the LCA2 SoC which when combined with the LeddarSP™ signal processing library creates the LCA2 LeddarEngine, which sets the standard for the design of integrated and customizable solid-state LiDAR solutions.
The LeddarEngine, optimized for automotive Tier-1 suppliers and system integrators to design and produce a variety of highly optimized solid-state LiDAR sensors which can be used in a multitude of ADAS and AV applications for the mobility and passenger car markets, will also be showcased.
In addition to LeddarTech’s technologies, Renesas will present the R-Car V3H SoC which delivers a combination of high computer vision performance and artificial intelligence processing at low power levels, providing an optimized embedded solution for automotive front cameras in Level 2+ autonomous vehicles combined with the LiDAR Obstacle Detection Software. The LOD software uses dedicated hardware accelerators for key algorithms including convolutional neural networks, to detect 3D objects, including cars and trucks.
“We believe strong strategic partners and industry collaborations deliver significant value and benefits to our customers in the auto and mobility markets by helping to reduce development risks and lower system costs while achieving the fastest time to market” stated Michael Poulin, Vice President of Product Management at LeddarTech. “Renesas has been a strategic partner of LeddarTech’s for many years, and we are very pleased to continue to build on this partnership again for AV20. We look forward to demonstrating our latest products, the Leddar Pixell as well as our LeddarEngine platform, which includes the LCA2 and LCA3 suite of SoC and Signal Processing Library at this event” Mr. Poulin continued.
“Renesas has always enjoyed an excellent collaborative relationship with LeddarTech”, stated Tomomitsu Maoka, Senior Vice President, Deputy General Manager of the Automotive Solution Business Unit at Renesas. “LeddarTech is world-renowned as a pioneer in LiDAR technology, and we look forward to continuing our relationship as we advance toward the deployment of even more ADAS and AD vehicles around the world”.
To arrange a meeting at AV20, please visit leddartech.com/av20conference
About Renesas Electronics Corporation
Renesas Electronics Corporation delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, home electronics, office automation, and information communication technology applications that help shape a limitless future. Learn more at renesas.com.
About LeddarTech
LeddarTech is an industry leader providing the most versatile and scalable auto and mobility LiDAR platform based on the unique LeddarEngineTM which consists of a suite of automotive-grade, functional safety certified SoCs working in tandem with proprietary LeddarSPTM signal processing software. The company is responsible for several innovations in cutting-edge mobility remote-sensing applications, with over 70 patented technologies (granted or pending) enhancing ADAS and autonomous driving capabilities.
LeddarTech also serves the mobility market with solid-state high-performance LiDAR module solutions for autonomous shuttles, trucks, buses, delivery vehicles, and robotaxis. These modules are developed to support the mobility market but also to demonstrate the capabilities of LeddarTech’s auto and mobility platform as a basis for other LiDAR suppliers to build upon.
Additional information about LeddarTech can be found at www.LeddarTech.com, and LinkedIn, Twitter, Facebook, and YouTube.
Leddar, LeddarTech, LeddarEngine, LeddarSP, LeddarCore, and LeddarTech logos are trademarks or registered trademarks of LeddarTech Inc. All other brands, product names, and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
Contact: Daniel Aitken, Vice President of Marketing and Communications, LeddarTech
Tel.: +1-418-653-9000 ext. 232 Daniel.Aitken@Leddartech.com
SOURCE : LeddarTech inc.
LeddarTech is excited to collaborate with Renesas and will demonstrate the award-winning Leddar™ Pixell, a 3D solid-state cocoon LiDAR for autonomous shuttles, delivery vehicles and robotaxis. The Leddar Pixell features the LCA2 LeddarEngine™, for which LeddarTech collaborated with Renesas. The teams worked closely in the design and manufacturing of the LCA2 SoC which when combined with the LeddarSP™ signal processing library creates the LCA2 LeddarEngine, which sets the standard for the design of integrated and customizable solid-state LiDAR solutions.
The LeddarEngine, optimized for automotive Tier-1 suppliers and system integrators to design and produce a variety of highly optimized solid-state LiDAR sensors which can be used in a multitude of ADAS and AV applications for the mobility and passenger car markets, will also be showcased.
In addition to LeddarTech’s technologies, Renesas will present the R-Car V3H SoC which delivers a combination of high computer vision performance and artificial intelligence processing at low power levels, providing an optimized embedded solution for automotive front cameras in Level 2+ autonomous vehicles combined with the LiDAR Obstacle Detection Software. The LOD software uses dedicated hardware accelerators for key algorithms including convolutional neural networks, to detect 3D objects, including cars and trucks.
“We believe strong strategic partners and industry collaborations deliver significant value and benefits to our customers in the auto and mobility markets by helping to reduce development risks and lower system costs while achieving the fastest time to market” stated Michael Poulin, Vice President of Product Management at LeddarTech. “Renesas has been a strategic partner of LeddarTech’s for many years, and we are very pleased to continue to build on this partnership again for AV20. We look forward to demonstrating our latest products, the Leddar Pixell as well as our LeddarEngine platform, which includes the LCA2 and LCA3 suite of SoC and Signal Processing Library at this event” Mr. Poulin continued.
“Renesas has always enjoyed an excellent collaborative relationship with LeddarTech”, stated Tomomitsu Maoka, Senior Vice President, Deputy General Manager of the Automotive Solution Business Unit at Renesas. “LeddarTech is world-renowned as a pioneer in LiDAR technology, and we look forward to continuing our relationship as we advance toward the deployment of even more ADAS and AD vehicles around the world”.
To arrange a meeting at AV20, please visit leddartech.com/av20conference
About Renesas Electronics Corporation
Renesas Electronics Corporation delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, home electronics, office automation, and information communication technology applications that help shape a limitless future. Learn more at renesas.com.
About LeddarTech
LeddarTech is an industry leader providing the most versatile and scalable auto and mobility LiDAR platform based on the unique LeddarEngineTM which consists of a suite of automotive-grade, functional safety certified SoCs working in tandem with proprietary LeddarSPTM signal processing software. The company is responsible for several innovations in cutting-edge mobility remote-sensing applications, with over 70 patented technologies (granted or pending) enhancing ADAS and autonomous driving capabilities.
LeddarTech also serves the mobility market with solid-state high-performance LiDAR module solutions for autonomous shuttles, trucks, buses, delivery vehicles, and robotaxis. These modules are developed to support the mobility market but also to demonstrate the capabilities of LeddarTech’s auto and mobility platform as a basis for other LiDAR suppliers to build upon.
Additional information about LeddarTech can be found at www.LeddarTech.com, and LinkedIn, Twitter, Facebook, and YouTube.
Leddar, LeddarTech, LeddarEngine, LeddarSP, LeddarCore, and LeddarTech logos are trademarks or registered trademarks of LeddarTech Inc. All other brands, product names, and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
Contact: Daniel Aitken, Vice President of Marketing and Communications, LeddarTech
Tel.: +1-418-653-9000 ext. 232 Daniel.Aitken@Leddartech.com
SOURCE : LeddarTech inc.
Friday 14 February 2020
THE 'POWER OF ETHICS' EXCEEDS EXPECTATIONS IN ACCA 'YES MALAYSIA' CAMPAIGN
(Far right) Pearly Ong, Head of Marketing, ACCA Malaysia presents the cash prize to Swinburne University of Technology Sarawak Campus for the Most Outstanding In-Campus Promotion for ACCA 'YES Malaysia' Campaign, accompanied by Professor John Wilson, Deputy Vice-Chancellor and Chief Executive Officer of Swinburne University (Far Left)
- Collection of 13,025 votes – surpassing previous years’ tally – proves Malaysians want an ethical future.
- 46% of voters are students below the age of 24 – proves that the young generation of Malaysians care about ethics
- Swinburne University and Asia Pacific University of Technology & Innovation (APU) win grand prizes for creative and engaging efforts to drive awareness among peers.
KUALA LUMPUR, Feb 14 (Bernama) -- ACCA (the Association of Chartered Certified Accountants) launched a two-month-long ‘YES Malaysia’ campaign in its effort to champion Trust, Ethics and Professionalism which included an online vote for good ethics as well as a friendly competition among ACCA learning partners. Additionally, the campaign was supported by on-ground activation at 21 locations across Klang Valley, ranging from Bangsar and Bukit Jalil to Serdang and Subang. The online votes at www.yesmalaysia.my surpassed expectations, garnering over 13,025 ‘YES’ votes for good ethics.
These activities were carried out in tandem with a competition involving ACCA learning partners who focussed their efforts on creating the Most Outstanding In-Campus Promotion and producing the Most Creative Promotional Video. All entries were judged based on creativity, effective promotion of ethics, teamwork and audience engagement.
“As a forward-thinking professional body with a vast network of partners and members globally and in Malaysia, ethics has always been at the core of everything we do, and the YES Malaysia Campaign is our way of championing ethical practices in our community and the nation. The positive response from all Malaysians as well as the support shown by our learning partners tells us our efforts have made an impact, and we congratulate all the winners for their creative efforts and we look forward to organising more fun learning engagements like this in the future,” said Edward Ling, Country Head of ACCA Malaysia.
Professor John Wilson, Deputy Vice-Chancellor and Chief Executive Officer of Swinburne University said, “We were very excited to participate in such a good cause and promoting ethics is definitely in line with what we teach our students here at Swinburne University. What we did well was promoting the message of ethics through ethical scenarios which our students face on a day to day basis, making them understand the implications of their choices.”
Similarly, the team responsible for the most creative promotional video found that simple, everyday examples of ethical behaviour was an effective way to evoke a personal connection with the community and viewers.
“By making ethics a relevant, daily consideration, we were able to engage with many of our fellow students. Most of us had never actively considered whether our everyday decisions are ethical or not with the rapid daily work and study routines, so it was a big eye-opener and this was very impactful more than ever before especially since we are now living in a digital ecosystem,” said Professor Dr Ir Ts Vinesh Thiruchelvam, Deputy Vice Chancellor/Chief Innovation Officer of Asia Pacific University of Technology & Innovation (APU). Watch their winning video which was viewed 6,900 times at https://www.facebook.com/apuniversity/videos/2459267651057512/.
As more parties across different levels of society act as advocates, a brighter and more ethical future is clearly possible, for the benefit of all Malaysians. For more information about ACCA and the ‘Power of Ethics’, visit https://www.accaglobal.com/gb/en/cam/power-of-ethics.html
SOURCE : ACCA Malaysia
TWO INTERNATIONALLY RECOGNIZED HEALTH STANDARDS ORGANIZATIONS JOIN THE EFFORT TO MANAGE AN ESCALATING GLOBAL PUBLIC HEALTH EMERGENCY
London, United Kingdom, Feb 14 (Bernama-GLOBE NEWSWIRE) -- The world is focused on the outbreak of respiratory illness caused by a novel coronavirus. The World Health Organization (WHO) has named the syndrome caused by this coronavirus “COVID-19”, and the International Committee on Taxonomy of Viruses (ICTV) has named the virus “Severe acute respiratory syndrome coronavirus 2” or SARS-CoV-2.
As part of the global effort to manage and contain this global public health emergency, two global health standards organizations, Regenstrief Institute and SNOMED International, are doing their part to support care teams globally to code and track SARS-CoV-2 testing and COVID-19 cases, and by extension support clinicians and researchers in their efforts to address its containment.
Both subject matter experts in coding and structuring clinical information, Regenstrief Institute and SNOMED International have recently introduced new content to their respective products, a laboratory and health observations oriented coding system in the case of LOINC, and a broad spectrum clinical terminology in the case of SNOMED CT. With the high rate of global adoption for both standards, LOINC and SNOMED CT have taken swift action to make this content immediately available to support those on the ground in tackling the virus.
“With novel viruses that appear to be easily transmittable, such as the coronavirus, it is vitally important that all identified cases be reported quickly for public health tracking,” said Regenstrief Research Scientist Theresa Cullen, M.D., M.S., global health expert with the Regenstrief Institute. Don Sweete from SNOMED International says “the creation of new COVID-19 and SARS-CoV-2 codes and concepts from LOINC and SNOMED CT introduce the structure in coding needed for health systems internationally to manage the outbreak. Both Cullen and Sweete agree that in possessing superior data, health leaders worldwide can engage in a higher degree of analysis to inform their outbreak management approach. Based on the formal naming of the syndrome and virus by WHO and ICTV, both organizations are presently updating their respective code and concepts to reflect the change.
For more information on the specific actions that each organization has taken, visit Regenstrief Institute and SNOMED International respectively.
Regenstrief Institute and SNOMED International mutually recognize the importance of interoperability through standardization in the pursuit of timely, safe and efficient health care and continue to work collaboratively to achieve this end.
About Regenstrief Institute and LOINC l https://loinc.org/
Founded in 1969 in Indianapolis, the Regenstrief Institute is a local, national and global leader dedicated to a world where better information empowers people to end disease and realize true health. A key research partner to Indiana University, Regenstrief and its researchers are responsible for a growing number of major healthcare innovations and studies. Examples range from the development of global health information technology standards that enable the use and interoperability of electronic health records to improving patient-physician communications, to creating models of care that inform practice and improve the lives of patients around the globe.
LOINC was created in 1994 at Regenstrief Institute in an effort to facilitate interoperability in healthcare. There was a growing trend to send clinical data electronically between healthcare entities, a practice that is integral today. The LOINC coding system contains more than 92,000 terms for everything from a serum alpha 1 antitrypsin level to a zygomatic arch x-ray report. For each concept, LOINC covers many other rich details, such as synonyms, units of measure, and carefully crafted descriptions.
About SNOMED International and SNOMED CT l www.snomed.org
SNOMED International is a not-for-profit organization that owns, administers and develops SNOMED CT, the world's most comprehensive clinical terminology. The safe, accurate and effective exchange of health information is an essential part of the foundation to improve healthcare around the world. We strive to determine the best global standards for health terminology, and to engage with the global healthcare community to improve SNOMED CT and patient safety.
We work to ensure that SNOMED CT can be routinely integrated into healthcare information systems. With SNOMED CT, users can record patient data more accurately and comprehensively – and use tools and analytics to provide better patient care and health management.
Attachment
As part of the global effort to manage and contain this global public health emergency, two global health standards organizations, Regenstrief Institute and SNOMED International, are doing their part to support care teams globally to code and track SARS-CoV-2 testing and COVID-19 cases, and by extension support clinicians and researchers in their efforts to address its containment.
Both subject matter experts in coding and structuring clinical information, Regenstrief Institute and SNOMED International have recently introduced new content to their respective products, a laboratory and health observations oriented coding system in the case of LOINC, and a broad spectrum clinical terminology in the case of SNOMED CT. With the high rate of global adoption for both standards, LOINC and SNOMED CT have taken swift action to make this content immediately available to support those on the ground in tackling the virus.
“With novel viruses that appear to be easily transmittable, such as the coronavirus, it is vitally important that all identified cases be reported quickly for public health tracking,” said Regenstrief Research Scientist Theresa Cullen, M.D., M.S., global health expert with the Regenstrief Institute. Don Sweete from SNOMED International says “the creation of new COVID-19 and SARS-CoV-2 codes and concepts from LOINC and SNOMED CT introduce the structure in coding needed for health systems internationally to manage the outbreak. Both Cullen and Sweete agree that in possessing superior data, health leaders worldwide can engage in a higher degree of analysis to inform their outbreak management approach. Based on the formal naming of the syndrome and virus by WHO and ICTV, both organizations are presently updating their respective code and concepts to reflect the change.
For more information on the specific actions that each organization has taken, visit Regenstrief Institute and SNOMED International respectively.
Regenstrief Institute and SNOMED International mutually recognize the importance of interoperability through standardization in the pursuit of timely, safe and efficient health care and continue to work collaboratively to achieve this end.
About Regenstrief Institute and LOINC l https://loinc.org/
Founded in 1969 in Indianapolis, the Regenstrief Institute is a local, national and global leader dedicated to a world where better information empowers people to end disease and realize true health. A key research partner to Indiana University, Regenstrief and its researchers are responsible for a growing number of major healthcare innovations and studies. Examples range from the development of global health information technology standards that enable the use and interoperability of electronic health records to improving patient-physician communications, to creating models of care that inform practice and improve the lives of patients around the globe.
LOINC was created in 1994 at Regenstrief Institute in an effort to facilitate interoperability in healthcare. There was a growing trend to send clinical data electronically between healthcare entities, a practice that is integral today. The LOINC coding system contains more than 92,000 terms for everything from a serum alpha 1 antitrypsin level to a zygomatic arch x-ray report. For each concept, LOINC covers many other rich details, such as synonyms, units of measure, and carefully crafted descriptions.
About SNOMED International and SNOMED CT l www.snomed.org
SNOMED International is a not-for-profit organization that owns, administers and develops SNOMED CT, the world's most comprehensive clinical terminology. The safe, accurate and effective exchange of health information is an essential part of the foundation to improve healthcare around the world. We strive to determine the best global standards for health terminology, and to engage with the global healthcare community to improve SNOMED CT and patient safety.
We work to ensure that SNOMED CT can be routinely integrated into healthcare information systems. With SNOMED CT, users can record patient data more accurately and comprehensively – and use tools and analytics to provide better patient care and health management.
Attachment
Kelly Kuru
SNOMED International
+1 (416) 566-8725
kku@snomed.org
John Erickson
Regenstrief Institute
+1 (317) 643-2313 prteam@regenstrief.org
SOURCE : SNOMED International
Tuesday 11 February 2020
Aptorum Group updates progress on ALS-4 small molecule anti-virulence drug candidate study
KUALA LUMPUR, Feb 11 -- Aptorum Group Limited (Aptorum Group) has announced further positive data from its current investigational new drug (IND)-enabling studies for ALS-4, a small drug molecule candidate indicated for the treatment of infections caused by Staphylococcus aureus (S. aureus).
This includes methicillin-resistant Staphylococcus aureus (MRSA, one of the super-bugs), based on a novel anti-virulence non-bactericidal approach.
According to a statement, subject to completion of the current studies, Aptorum Group targets to submit IND for ALS-4 in second half of this year and commence a phase 1 trial in North America.
ALS-4 is a small molecule which inhibits dehydrosqualene desaturase of S. aureus (incl. MRSA), an enzyme that is critically involved in the biosynthesis of staphyloxanthin, a commonly visible ‘golden pigment’ covering the bacteria.
Staphyloxanthin is believed to be primarily responsible for the bacteria’s defence mechanism against the attack from reactive oxygen species deployed by phagocytic cells and neutrophils.
Specifically, MRSA infections in humans typically exhibit high rates of morbidity and mortality and can cause metastatic or complicated infections such as infective endocarditis or sepsis, with relapse and hospital readmission after S. aureus bacteremia common and costly.
-- BERNAMA
ASIA PACIFIC SOURCING SLOWED IN Q4 BY CHINA, HK UNCERTAINTY
Despite slump in managed services, as-a-service soars 26% and accounts for record share of region’s combined market
SYDNEY, Australia, Feb 11 (Bernama-GLOBE NEWSWIRE) -- The Asia Pacific outsourcing market, buffeted by uncertainty over China trade and civil unrest in Hong Kong, slowed in the fourth quarter, although cloud-based solutions helped buoy results, according to the latest state-of-the-industry report from Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of US $5 million or more, found Asia Pacific’s combined market (managed services and cloud-based as-a-service) slowed to US $2.05 billion of ACV, down 4 percent from the prior quarter, but up 2 percent over a strong 2018 fourth quarter. Despite a declining trend the last two quarters, it was the fifth straight quarter the region has exceeded US $2 billion in combined market ACV.
Managed services slumped 41 percent, to $413 million, in the fourth quarter, as most countries showed declines, with the exception of China, which saw continuing strong demand for applications and infrastructure services. The region’s largest market, Australia-New Zealand (ANZ), saw year-over-year managed services ACV decline for the third straight quarter. It was the region’s worst ACV performance in this segment since the first quarter of 2017, while the number of contracts signed in the quarter (34) was the lowest number since the end of 2016.
The as-a-service segment, however, rose 26 percent, to a record $1.64 billion, and, with the slump in managed services, accounted for a record 80 percent of the combined market for the quarter. Both Infrastructure as a Service (IaaS), up 24 percent, to US $1.38 billion, and Software as a Service (SaaS), up 35 percent, to $252 million, established quarterly records.
“In the middle of last year, we observed a bit of a slowdown in China that affected the large public cloud infrastructure players,” said Scott Bertsch, partner and head of ISG Asia Pacific. “The U.S.-China trade negotiations caused the industry to hesitate on technology purchases.”
The impact was felt mainly in the managed services segment. Bertsch said the last two quarters have “ticked steadily downward from the lofty levels we saw over the last two years,” when the region posted several US $700-million-plus quarters in managed services. Robust demand for as-a-service solutions, Bertsch said, is helping the region weather the economic uncertainty.
Full-Year 2019 Results
For the full year, Asia Pacific’s combined market delivered strong double-digit growth, with ACV of US $8.8 billion, up a resounding 20 percent over the prior year. It was the first time the region exceeded $8 billion of annual ACV. Compared with three years ago, the region’s combined market has more than doubled, ISG noted.
Managed services advanced 10 percent, to $2.8 billion, its best result since 2014, fueled by strong demand from the region’s two largest vertical markets—manufacturing and telecommunications, which helped offset weaker results in the banking, financial services and insurance (BFSI) sector. IT outsourcing (ITO) led the pack for managed services in 2019, with ACV of US $2.3 billion, up 12 percent over the prior year, largely on the strength of growing demand for application development and maintenance (ADM) services, whose ACV rose 27 percent.
Among geographies, India produced the region’s best results, bolstered by several large contract renewals during the year. ANZ, on the other hand, had its weakest ACV performance since 2003, and its lowest contract volume since 2008.
As-a-service, meanwhile, grew 25 percent in 2019, to a record $6.04 billion. This segment now accounts for nearly 69 percent of the region’s combined market, compared with only 49 percent just three years ago. IaaS advanced 25 percent, surpassing US $5 billion for the first time, at US $5.18 billion, and SaaS rose 22 percent, to US $860 million, for the year.
Global Forecast
ISG is forecasting the global market for cloud-based services will grow 23.5 percent in 2020, and the market for managed services will grow 3.2 percent.
About the ISG Index™
The ISG Index™ is recognized as the authoritative source for marketplace intelligence on the global technology and business services industry. For 69 consecutive quarters, it has detailed the latest industry data and trends for financial analysts, enterprise buyers, software and service providers, law firms, universities and the media. In 2016, the ISG Index was expanded to include coverage of the fast-growing as-a-service market, measuring the significant impact cloud-based services are having on digital business transformation. ISG also provides ongoing analysis of automation and other digital technologies in its quarterly ISG Index presentations.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 70 of the top 100 enterprises in the world, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
Press Contacts:
Will Thoretz, ISG
+1 203 517 3119
will.thoretz@isg-one.com
Jim Baptiste, Matter Communications for ISG
+1 978 518 4527
jbaptiste@matternow.com
SOURCE : Information Services Group, Inc.
SYDNEY, Australia, Feb 11 (Bernama-GLOBE NEWSWIRE) -- The Asia Pacific outsourcing market, buffeted by uncertainty over China trade and civil unrest in Hong Kong, slowed in the fourth quarter, although cloud-based solutions helped buoy results, according to the latest state-of-the-industry report from Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of US $5 million or more, found Asia Pacific’s combined market (managed services and cloud-based as-a-service) slowed to US $2.05 billion of ACV, down 4 percent from the prior quarter, but up 2 percent over a strong 2018 fourth quarter. Despite a declining trend the last two quarters, it was the fifth straight quarter the region has exceeded US $2 billion in combined market ACV.
Managed services slumped 41 percent, to $413 million, in the fourth quarter, as most countries showed declines, with the exception of China, which saw continuing strong demand for applications and infrastructure services. The region’s largest market, Australia-New Zealand (ANZ), saw year-over-year managed services ACV decline for the third straight quarter. It was the region’s worst ACV performance in this segment since the first quarter of 2017, while the number of contracts signed in the quarter (34) was the lowest number since the end of 2016.
The as-a-service segment, however, rose 26 percent, to a record $1.64 billion, and, with the slump in managed services, accounted for a record 80 percent of the combined market for the quarter. Both Infrastructure as a Service (IaaS), up 24 percent, to US $1.38 billion, and Software as a Service (SaaS), up 35 percent, to $252 million, established quarterly records.
“In the middle of last year, we observed a bit of a slowdown in China that affected the large public cloud infrastructure players,” said Scott Bertsch, partner and head of ISG Asia Pacific. “The U.S.-China trade negotiations caused the industry to hesitate on technology purchases.”
The impact was felt mainly in the managed services segment. Bertsch said the last two quarters have “ticked steadily downward from the lofty levels we saw over the last two years,” when the region posted several US $700-million-plus quarters in managed services. Robust demand for as-a-service solutions, Bertsch said, is helping the region weather the economic uncertainty.
Full-Year 2019 Results
For the full year, Asia Pacific’s combined market delivered strong double-digit growth, with ACV of US $8.8 billion, up a resounding 20 percent over the prior year. It was the first time the region exceeded $8 billion of annual ACV. Compared with three years ago, the region’s combined market has more than doubled, ISG noted.
Managed services advanced 10 percent, to $2.8 billion, its best result since 2014, fueled by strong demand from the region’s two largest vertical markets—manufacturing and telecommunications, which helped offset weaker results in the banking, financial services and insurance (BFSI) sector. IT outsourcing (ITO) led the pack for managed services in 2019, with ACV of US $2.3 billion, up 12 percent over the prior year, largely on the strength of growing demand for application development and maintenance (ADM) services, whose ACV rose 27 percent.
Among geographies, India produced the region’s best results, bolstered by several large contract renewals during the year. ANZ, on the other hand, had its weakest ACV performance since 2003, and its lowest contract volume since 2008.
As-a-service, meanwhile, grew 25 percent in 2019, to a record $6.04 billion. This segment now accounts for nearly 69 percent of the region’s combined market, compared with only 49 percent just three years ago. IaaS advanced 25 percent, surpassing US $5 billion for the first time, at US $5.18 billion, and SaaS rose 22 percent, to US $860 million, for the year.
Global Forecast
ISG is forecasting the global market for cloud-based services will grow 23.5 percent in 2020, and the market for managed services will grow 3.2 percent.
About the ISG Index™
The ISG Index™ is recognized as the authoritative source for marketplace intelligence on the global technology and business services industry. For 69 consecutive quarters, it has detailed the latest industry data and trends for financial analysts, enterprise buyers, software and service providers, law firms, universities and the media. In 2016, the ISG Index was expanded to include coverage of the fast-growing as-a-service market, measuring the significant impact cloud-based services are having on digital business transformation. ISG also provides ongoing analysis of automation and other digital technologies in its quarterly ISG Index presentations.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 70 of the top 100 enterprises in the world, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
Press Contacts:
Will Thoretz, ISG
+1 203 517 3119
will.thoretz@isg-one.com
Jim Baptiste, Matter Communications for ISG
+1 978 518 4527
jbaptiste@matternow.com
SOURCE : Information Services Group, Inc.
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