Best offshore software development trends to consider in 2023
It’s already 2023, and technology firms are already evaluating new technology developments and innovations for their businesses. It’s not surprising that offshore development trends continue to gain traction.
The Computer Economics survey estimates 60% of software companies are now outsourcing a significant portion or all of their software application development. This is one of the most commonly outsourced task in the IT industry.
As organizations continue to digitize and virtualize in 2023, offshore development will continue to be a trend.
As we enter 2023, Commit research projects that offshore software development will grow by another 70%. To that end, we have compiled the top software development trends we expect to see shortly.
So without much ado, here we go.
Is Offshore Development Right for You?
The offshore software development model has proven to be a powerful way for businesses to maximize the advantages of outsourcing. In this way, you can concentrate on your main business activities.
Moreover, you allow software development services providers to handle repetitive tasks that are not part of the company’s core competence, thereby allowing you to focus on your core competencies. Among its advantages are:
Time and cost-effective
Offshore software development services has the primary benefit of being more cost-effective. The lower wages and living costs in developing countries make partnering with offshore development company less expensive than local in-house developers.
In addition to this cost advantage, offshore software development company can save clients up to 20–30% on their development expenses compared with local developers.
Gaining access to the international market
The turnaround time for development can be weeks or even months when working with an offshore team. In-house teams can only complete a product slowly, and even co-located teams often need help to complete a product as quickly as we did.
To remain current with all the latest developments and trends, it is essential to keep abreast of all the latest technologies and devices.
With a team of developers, you don’t have to worry about physical limitations imposed by one location. It gives you greater flexibility in selecting a location for your business and ensures that you can take advantage of lower labor costs in other parts of the world so you can save money.
Reach a wider audience
When you have an international client base, developing your software overseas provides a faster and more cost-effective method of getting it into their hands than outsourcing it to a local development organization.
Support & Consulting
24/7 customer support is key to establishing the brand’s identity. Providing these services is difficult for startups and small businesses because they need more financial resources.
To take advantage of this situation, startups and small businesses can hire developers dedicated to their businesses and who will support their clients round-the-clock.
By hiring offshore developers, a company can offer better customer service to its customers through chatbots, speech recognition software, and other tools and apps.
Learn About Offshore Software Development Trends
As a complex process involving a series of tasks, the development of software has always been a challenging process — and for companies to be competitive in the market, they need to stay abreast of the latest trends to do so.
Offshore software development is constantly undergoing several trends, the latest of which includes:
Providing scalability and flexibility will be one of the key benefits of cloud computing in offshore software development. As companies realize the benefits and possibilities of cloud computing, offshore software development is set to become an essential part of addressing their growing needs.
Automation is one of the greatest offshore development trends to watch out for in 2023. It will play a key role in decreasing reliance on human effort, reducing the costs associated with manual labor, and lowering the risks associated with it.
Through automation, a company can reduce administrative overhead and gain a competitive advantage by avoiding hassle-free software development. By doing so, it gives it an edge and makes it able to innovate faster, which results in a competitive advantage.
Web 3.0 is on the rise
As a redesigned and interactive interface, Web3 will revolutionize software development with its enormous potential to provide a better user experience.
Unlike other web technologies, Web3 gives users a level of control over their data, which will become a significant phenomenon in the years to come.
The power of decentralization would eliminate middlemen, allowing the end users to benefit directly from the system.
In addition, businesses will benefit from the increased interaction of users on social media platforms. Data hacks will no longer be possible because the platforms will no longer be centralized.
The trend for virtual reality (VR) will continue
In the world of interactive technology, virtual reality (VR) has become the newest offshore development trend. Over the past few years, VR has steadily gained popularity, and it is predicted that it will continue to grow.
As an aspiring entrepreneur, you should keep a close eye on VR as what is set to take center stage in the year 2023, regardless of your company’s size. VR immerses you in a brand-new world that feels as real as it is.
Blockchain: A Rise in Popularity
A digital ledger that records the transactions of cryptocurrencies has gained attention from a variety of industries worldwide, including pharmaceuticals, food safety, cross-border financial transactions, and even fashion.
Therefore, the blockchain has become a vital offshore development trend in many industries. IT industry players have taken notice of this new technology and are beginning to implement it to make transactions more efficient, cost-effective, and resilient.
To facilitate peer-to-peer network connections, decentralized programs, digital signatures, and public key encryption, offshore developers are expected to be familiar with technology like Ethereum.
Rapid prototype testing with DevOps
One more trend to keep an eye on on this list. With DevOps, it is possible to deliver high-quality products continuously, which is a business requirement. With the help of this process, software development teams can create products that are ready for deployment and constant testing.
Among the advantages of DevOps are the lower cost of projects, the ease with which they are implemented, and the quicker recovery time. When using the waterfall software development method, the team couldn’t build the right software for the first time.
As such, it is in the best interests of both business and financial interests to engage the expertise of an outside company when developing software. Even though it sounds like a daunting task, offshore software development services are quite doable as long as you plan properly and understand the associated risks.