The first half of the current calendar year has seen the IT outsourcing industry post its strongest performance in a decade, a leading IT research firm has announced.

With a total of 282 outsourcing contracts valued at $49 billion in total contract value (TCV) and $10 billion in annualised contract value (ACV), or the value of a contract divided by its duration, the IT outsourcing industry notched up record business during the first two quarters of the current calendar year, according to TPI, the sourcing data and advisory firm.