IT skills shortage, lower prices, access to world-class capabilities… you might have already heard these reasons that seem to be convincing enough to everyone but you. If outsourcing brings profit to your competitor’s business, why do you think it’s going to lose its power when you start implementing it for your needs?
Let’s start with the numbers outlining outsourcing statistics. What do they say?
As reported by Deloitte, businesses spent more than $700 billion on outsourcing in 2022. Breaking down by segment, spending on IT outsourcing is projected to reach $519 billion in 2023 which is a 22% increase over the numbers we witnessed in 2019.
According to another research held by ISG, 92% of the top 2000 global companies use IT outsourcing services.
Why? One of the reasons why outsourcing thrives is the continuing number of trends of outsourcing that are like a flood engulfing the software development sector and of course the alarming shortage of software developers in some regions. The last 5 years were a jumping-off point for the IT outsourcing industry. Though to a big surprise, there are still people who find this term unknown. So,
