The IT outsourcing market peaked in 2023, accounting for 75% of all global contracts. It is projected to reach $187.10 billion by 2024.
Clutch, the world's leading marketplace for B2B service providers, has released the results of its survey of more than 500 US small business leaders to understand their top business goals and how outsourcing will play a key role in filling any gaps. In the past year, companies were in search of new outsourcing providers in marketing (27%), IT services (22%), and design (21%). It has been proven that relying on outsourced service providers is a practical approach in the face of economic uncertainty.
The Increasing Complexity of the Digital Landscape
In a digital environment, customized IT solutions are becoming increasingly critical. In times of economic uncertainty, small and medium-sized businesses need to be more flexible and able to scale quickly. The Time-to-Market indicator—how quickly a company brings new products to market—has become a key criterion for success.
However, web products like websites, apps, and systems are more complex today than ever before. Just a few years ago, most business processes were done almost manually or with limited resources. Websites used to be just online showcases, simply showing businesses online. Now, they're complex tools that do much more. Web solutions have become powerful business tools that need to interact with various APIs, adding complexity. This means higher demands for security, seamless digital processes, and solid code architecture. Achieving this requires deep technical expertise and staying on top of the latest IT trends.
Why outsourcing is the smart move for many companies?
Statista reports that IT services are in high demand. If a company lacks specific technology and doesn't plan to invest in it, outsourcing is often more cost-effective. For instance, outsourcing is often more efficient and cost-effective if a company needs a website than hiring an entire IT department. The world of IT is developing rapidly, and training and retaining internal employees, especially given an inevitable staff turnover, is challenging. Outsourcing specific business processes removes this burden because, in such companies, developers work 24/7 with the latest technologies and have a multifaceted daily practice. It is often cheaper to hire an entire company than a separate department of full-time IT employees.
Over the past year, companies have hired third parties to provide marketing, design, and IT services, including web and app development, system administration, technical support, and others, as part of their growth strategies.
Leveraging External Advanced Technical Expertise
The online landscape rapidly evolves, with new technologies and digital trends reshaping how businesses operate and compete. IT outsourcing is especially interesting for startups with an exciting idea and wanting to enter the market sooner. The more innovative the idea, the more likely it will require complex and narrow technical expertise, which may be too difficult to find in the local market. By outsourcing web development services, businesses are at the forefront of technological advancement and can implement advanced solutions while staying one step ahead of the competition.
The great thing is that outsourcing companies like Asabix bring deep technical expertise and industry knowledge, including understanding the specific challenges in various business sectors. By collaborating with businesses worldwide, outsourcing companies gain invaluable experience that can't be acquired within a single organization.
External IT expertise can be utilized by businesses to stay focused on their core strengths, scale more efficiently, and quickly seize new opportunities. Don't miss the chance to propel your business forward!
