Several mega deals with TCV of more than $500 million have already been signed in the first quarter of 2024, of which 15% of TCV is from AI-related deals.
The global market for managed services will rise in 2024 due to organizations’ IT spending surge and larger investments in managed services deals involving AI and cloud computing, according to market intelligence firm IDC.
“This trend will continue over the next few years as more organizations experiment or go live with AI-enabled services. Although a significant portion of the IT spending will be AI-centric, cloud technology will continue to drive the IT market,” IDC said in a statement.
