New Delhi, April 23 -- Artificial Intelligence is no longer an experiment for enterprises -- it's now the core driver of technology spending and is fundamentally reshaping how services are bought and delivered, according to Equirus' 1QCY26 review of the global technology services market.

The market posted strong momentum in the first quarter, with total annual contract value (ACV) for both cloud-based services (XaaS) and managed services rising 29% year-on-year to $39.4 billion. The surge was led by AI-driven demand for cloud infrastructure, while managed services held steady. Regionally, the Americas led with 35% growth, followed by EMEA at 30% and APAC at 16%.

Equirus noted that companies are no longer just testing AI--they are using ...