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Europe Outsourcing Falls in Q3 Amid Recession Fears, ISG Index™ Finds

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The annual value of Europe’s managed services contracts dropped by more than €900 million sequentially in the third quarter amid recession fears that tempered spending on technology services, the latest state-of-the-industry report from Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, shows.

The EMEA ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of €4.5 million (₤3.9 million) or more, found the ACV of the region’s managed services contracts in the third quarter declined 31 percent, or €910 million (₤792 million), quarter over quarter, to €2 billion (₤1.8 billion). Compared with the 2018 third quarter, managed services ACV was down 17 percent.

At the same time, demand for cloud-based as-a-service solutions rose 10 percent year over year, to a record €1.6 billion (₤1.4 billion), but the increase was not enough to offset the slowdown in managed services spending. Overall, the combined EMEA market was down 7 percent, to €3.7 billion (₤3.2 billion).

The ISG Index noted that while global spending on technology and business services is increasing (combined market ACV in the third quarter rose 13 percent on record demand for as-as-service solutions, particularly in the Infrastructure-as-a-Service space), concerns in Europe about recession, Brexit and trade wars mean companies remain extremely cautious about spending. ACV in each of the region’s three largest markets – UK, DACH and France – was down by double digits in the third quarter compared with the prior year. The number of contracts awarded in EMEA during the quarter was down 11 percent, to its lowest level in more than two years.

Companies, however, continue to invest in cloud-based services and digital transformation projects, particularly in the retail sector, where 62 percent of overall spend is for as-a-service solutions. For the sixth consecutive quarter, the ACV of as-a-service contracts in EMEA exceeded €1.3 billion (₤1.1 billion). Year to date, as-a-service accounted for 39 percent of combined ACV, compared with just 20 percent three years ago. But at 10 percent this quarter, growth still lags behind the Americas and Asia Pacific, which saw as-a-service gains of 26 percent and 14 percent, respectively, this quarter.

Market Performance

Year to date, managed services ACV in the UK and Ireland decreased 4 percent, from €2.2 billion (₤1.9 billion) to €2.1 billion (₤1.8 billion), a relatively modest decline as companies appear to have shrugged off much of the ongoing uncertainty around Brexit. However, as the Brexit deadline neared, ACV in the third quarter was down 11 percent compared with the prior year, and down 27 percent compared to this year’s second quarter. The biggest impact on the UK outsourcing market was that of Brexit-related uncertainty on the performance of the pound sterling, which means UK businesses may wait for the market to settle before deciding on a strategic direction.

DACH was the worst hit overall, with ACV down 24.5 percent, from €2.5 billion (₤2.2 billion) to €1.9 billion (₤1.6 billion) year to date compared with the same period last year. ACV in the third quarter was down 36 percent compared with the prior year, but up 31 percent quarter on quarter this year. The lack of growth is largely associated with the manufacturing industry, which was impacted by fines and legal action resulting from the VW emissions issue, and trade wars impacting German exports, which affects overall GDP.

However, the ISG Index notes real opportunity in the DACH market as German multinationals embrace the cloud (Germany was relatively late compared to other markets here, because of questions of security and privacy) and begin to adopt as-a-service solutions in greater numbers.

France, while down 23 percent in the third quarter compared with last year, has seen overall growth for the year-to-date period compared with the same period last year, with ACV up 29.3 percent, from €540 million (₤467 million) to €698 million (₤603 million).

Steve Hall, partner and president, EMEA, ISG, said: “Political and trade issues are contributing to a mixed stance on technology spending, with enterprises largely split on investing for growth or leveraging technology for cost reduction through 2020. Many technology providers remain cautiously optimistic regarding their pipelines and the demand environment. In the near term, providers will be watchful of external factors that could impact customers and their decision to spend.”

Global Forecast

ISG is projecting 22 percent year-on-year ACV growth for the remainder of 2019 in the as-a-service market. “We are casting a watchful eye on continued U.S. trade talks with China and how technology firms look to cope with demand issues if China becomes more restrictive in its approach with U.S. firms,” Hall said.

“In the overall IT and business services market, we are also taking a more conservative perspective by lowering our forecast more than 50 basis points to 2.6 percent for the remainder of 2019. This takes into account FX headwinds due to the strong U.S. dollar and possible top-line softness by a few of the largest providers in the sector.”

 

SOURCE Information Services Group, Inc.

Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

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Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow

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Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.

Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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View original content:https://www.prnewswire.co.uk/news-releases/global-insurance-provider-selects-3clogic-to-streamline-ai-and-contact-center-capabilities-with-servicenow-302127739.html

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ScreenPoint Medical Leadership Transition: Pieter Kroese Confirmed as CEO

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Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.

 
 
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.” 
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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View original content:https://www.prnewswire.co.uk/news-releases/screenpoint-medical-leadership-transition-pieter-kroese-confirmed-as-ceo-302127719.html

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Robotics Market to Surpass USD 126.96 Billion by 2031 | SkyQuest Technology

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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — The growing need for automation, technological developments, and long-term cost reductions are driving a robust expansion in the worldwide robotics market. SkyQuest projects that Global Robotics Market size is poised to grow from USD 41.50 Billion in 2023 to USD 126.96 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).

Download a detailed overview:
https://www.skyquestt.com/report/robotics-market
Browse in-depth TOC on the “Robotics Market”
Pages – 202Tables – 64Figures – 75Robotics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$41.50 billion
Estimated Value by 2031
$126.96 billion
Growth Rate
Poised to grow at a CAGR of 15%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Application, End Users, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Collaborative Robotics
Key Market Opportunities
Prompting Several Industries to Adopt Automation Technologies
Key Market Drivers
Increasing Demand for Automation
Surge of Automation is Supporting Growth of Robotics Industry 
The industrial sector is generating high revenues for the global robotics market owing to extensive automation in manufacturing, which increases productivity and lowers overall production costs. Assembly line, painting, and welding robots have become essential, thereby propelling substantial market expansion in the automotive, electronics, and heavy duty sectors. Due to the increased usage of robots for non-manufacturing functions such as customer service, shipping, and healthcare, the services sector is expanding quickly. This rapid growth is being driven by technological improvements and the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is growing, and innovation in this field is happening quickly worldwide. By increasing productivity, efficiency, and precision, advanced robotics technologies—such as AI-driven automation systems and collaborative robots, or cobots—are transforming the manufacturing sector. The dominance of manufacturing in the worldwide robotics market is fuelled by the integration of robotics into manufacturing facilities, which helps businesses remain competitive in today’s dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in the region, Asia Pacific now leads the global robotics industry. China, Japan, and South Korea are among the nations that have made significant investments in the robotics sector recently. The Middle East and Africa are anticipated to register the fastest-growing rate for the global robotics market. The expansion is ascribed to the region’s growing adoption of automation technology, especially in the manufacturing and logistics industries.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/robotics-market
Drivers:
Increasing Demand for AutomationAdvancements in AI and Machine Learning TechnologiesRestraints:
High Initial InvestmentsLack of Skilled WorkforceProminent Players in Global Robotics Market:
FANUC America Corporation (US)Epson Robotics (Japan)Staubli International AG (Switzerland)YRG Inc. (US)Comau S.p.A. (Italy)Northrop Grumman Corporation (US)Honda Motor Co., Ltd. (Japan)Seiko Epson Corporation (Japan)Yamaha Motor Co., Ltd. (Japan)Adept Technology, Inc. (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market Report
How big is the global robotics market, and what compound annual growth rate (CAGR) is it anticipated to deliver between 2024 and 2031?Which industries are fuelling the need for automation and fostering the expansion of the robotics sector?What impact have recent technological advancements and innovations had on the direction of the robotics market?Which well-known companies in the robotics industry are also major players in the global robotics market?This report provides the following insights:
Analysis of key drivers (increasing demand for automation across industries, improved the overall efficiency, productivity of the processes, demand for automation), restraints (high initial investments, difficult for small and medium-sized enterprises to invest, robots, sensors, and other equipment required not delivered), opportunities (advancements in AI and machine learning technologies, new opportunities for the robotics market, perform complex tasks with high accuracy), and challenges (lack of skilled workforce, maintenance of these robotics systems) influencing the growth of robotics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the robotics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/

View original content:https://www.prnewswire.co.uk/news-releases/robotics-market-to-surpass-usd-126-96-billion-by-2031–skyquest-technology-302127230.html

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