IT outsourcing services are seeing a hike in their popularity due to the emergence of new business models, innovative technologies, and changing consumer demands. Small and big business companies are now consulting nearshore or offshore outsourcing services to meet their business needs.
As a result, it is contributing to a hike in the revenue of the IT outsourcing market. According to Statista, the total turnover in the IT outsourcing market stood at 378.1 billion US Dollars. And it is expected to reach the value of 413.7 billion USD by 2021.
IT business firms are going for both offshore and nearshore software development services to meet the needs of their customers. There are several reasons responsible for a hike in the demand for IT outsourcing services.
Hiring an IT outsourcing firm helps a business to save costs. And it also facilitates it to get custom software development solutions as per its objectives & goals. By choosing to outsource, IT firms manage to reduce their work burden and they effectively get high-quality products & services to meet their needs.
It is seen that IT firms are hiring nearshore outsourcing for meeting their business needs. It allows them to work with like-minded technicians who share similar cultures. Thus, it facilitates the build-up of strong bonding with an element of trust.
Apart from this, nearshore outsourcing services facilitate a business team to work with a development team at the same time zone. As the business world is evolving in multiple dimensions due to the adoption of new technologies and methodologies, it is expected that the IT outsourcing market would flourish extensively in the future.
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