Many companies around the globe choose to outsource their development in order to achieve a competitive edge. This trend has been ongoing for the last decade and we have noticed a strong incline in the last 5 years, the outcome of new technologies and growth of industries around the world.
As reported by Statista, the global outsourcing market was worth $92.5 million in 2019. Statistics show that, in fact, the market size of the outsourcing industry in the US in 2020 is $132.9 billion and it is going to grow by 1.6% the same year.
We have scanned the major trend worldwide in order to provide you with the “hot” trends for 2020:
- AI- the goal of artificial intelligence is to reduce dependency on humans for routine tasks, allowing them to focus on business goals. How does it connect with the outsourcing industry? Resources will be allocated in developments of AI, machine learning and chatbots. In the next period there will be heavy development of those technologies and need for skilled developers. Moreover, it means a dramatic increase in productivity along with outstanding employment opportunities.
- Focus on Cyber security- Cyber security is a growing industry and will require adjustment of outsourcing companies equipping their developers with technical knowledge in the specific field. At the moment there is a cybersecurity skills shortage and more than 70% of companies aren’t prepared for cyberattacks.
Concentrating on value not hours- the focus on results became popular with the understating that hourly measurement is not effective. Employees might be at the office for 8 or 9 hours and still be less productive. Nowadays there is a switch to quality measurements and goal orientation.
- Multicultural Outsourcing- The combination of different cultures in an outsourced team is a major benefit for end clients. The cultural contribution shown in different aspects such work discipline, values and even knowledge. By combining different approaches you will create knowledge exchange between IT partners.
Focus on Partnerships and innovation- the real value is in people and partners can bring you into the next level, providing different perspectives. Outsourcing companies ensure access to talents and invest in their skillset. Talented developers collaborate smoothly and create innovation, the outsourcing companies are putting all possible effort in order to match those 2 pieces of the puzzle. Beneficial partnerships are more to come.
