The first quarter of 2020 saw growth in the managed services and as-a-service industries, with global combined market ACV increasing by 7%. However, the COVID-19 pandemic began to impact demand in March, leading to a projected 17% decline in managed services for the second quarter, while as-a-service sectors like IaaS saw minimal disruption. The report forecasts a potential 7% year-over-year drop in overall ACV, but anticipates a rebound in managed services in the later half of the year as digital transformation accelerates post-pandemic.