• TechNews
    • Trending
    • Startups
    • Stories
    • AR & VR
    • IoT
    • AI & Big Data
    • Personality
  • Cyber Security
    • Courses & Programs
    • Software
    • VPN
    • How to!
    • SaaS
  • Reviews
  • Press Release
  • PR Newswire
  • Business Wire
  • Contact
    • Write For Us?
Thursday, February 2, 2023
  • Login
  • Register
TTM
  • TTM
  • TechNews
    • All
    • AI & Big Data
    • AR & VR
    • Business Wire
    • HealthTech
    • IoT
    • MarTech
    • Personality
    • SaaS
    • Startups
    • Tips & Tricks
    • Trending
    spreading-technology-THETECHNEWS

    How to Pick a Company for Blockchain Software Development in 2023!

    spreading-technology-THETECHNEWS

    ShopUp, a Bangladesh B2B Startup, has Secured $30M in Debt Financing!

    spreading-technology-THETECHNEWS

    The Future of SEO in the AI Era!

    spreading-technology-THETECHNEWS

    How to Switch Careers at Any Age: Start a New Job in Your 30s, 40s, or 50s!

    spreading-technology-THETECHNEWS

    OpenShift vs Kubernetes: Who wins the Battle!

    spreading-technology-THETECHNEWS

    These thought leaders share their thoughts on Data Privacy Day 2023!

    Trending Tags

    • Best iPhone 7 deals
    • Apple Watch 2
    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • iOS 10
    • iPhone 7
    • Sillicon Valley
    • Trending
    • AI & Big Data
    • IoT
    • Startups
    • AR & VR
    • Personality
    • Stories
    • Business Wire
  • Cyber Security
    • All
    • Courses & Programs
    • How to!
    • News
    • Software
    • Tips & Tricks
    spreading-technology-THETECHNEWS

    How to Switch Careers at Any Age: Start a New Job in Your 30s, 40s, or 50s!

    spreading-technology-THETECHNEWS

    These thought leaders share their thoughts on Data Privacy Day 2023!

    CyberSecurity-THETECHNEWS

    2023 Tech Industry Predictions!

    spreading-technology-THETECHNEWS

    2022 CyberSecurity Awareness Month Commentary (DH2i, StorCentric, Retrospect and Folio Photonics)!

    CyberSecurity-THETECHNEWS

    System Administrator Appreciation Day 2022!

    spreading-technology-THETECHNEWS

    Why Is Data Privacy Important to Businesses: 7 Things to Keep in Mind!

    Trending Tags

      • News
      • Tips & Tricks
      • How to!
      • Courses & Programs
      • Software
      • VPN
    • Reviews
      • All
      • Hosting Review
      spreading-technology-THETECHNEWS

      Node.js vs. Python: The Best Language in 2023?

      spreading-technology-THETECHNEWS

      The Era of High-Speed Intelligent Printing with FDM 3D Printers has Arrived!

      spreading-technology-THETECHNEWS

      Why React is Cooler than Others || TTM

      spreading-technology-THETECHNEWS

      BDIX Hosting Advantage and Disadvantage!

      spreading-technology-THETECHNEWS

      PostPace Review- An Amazing Productivity Platform for Writers & Bloggers!

      Reviews-THETECHNEWS

      Best IoT Platforms Review: Going Top in 2021

    • Best 05
    • Applications
    No Result
    View All Result
    • TTM
    • TechNews
      • All
      • AI & Big Data
      • AR & VR
      • Business Wire
      • HealthTech
      • IoT
      • MarTech
      • Personality
      • SaaS
      • Startups
      • Tips & Tricks
      • Trending
      spreading-technology-THETECHNEWS

      How to Pick a Company for Blockchain Software Development in 2023!

      spreading-technology-THETECHNEWS

      ShopUp, a Bangladesh B2B Startup, has Secured $30M in Debt Financing!

      spreading-technology-THETECHNEWS

      The Future of SEO in the AI Era!

      spreading-technology-THETECHNEWS

      How to Switch Careers at Any Age: Start a New Job in Your 30s, 40s, or 50s!

      spreading-technology-THETECHNEWS

      OpenShift vs Kubernetes: Who wins the Battle!

      spreading-technology-THETECHNEWS

      These thought leaders share their thoughts on Data Privacy Day 2023!

      Trending Tags

      • Best iPhone 7 deals
      • Apple Watch 2
      • Nintendo Switch
      • CES 2017
      • Playstation 4 Pro
      • iOS 10
      • iPhone 7
      • Sillicon Valley
      • Trending
      • AI & Big Data
      • IoT
      • Startups
      • AR & VR
      • Personality
      • Stories
      • Business Wire
    • Cyber Security
      • All
      • Courses & Programs
      • How to!
      • News
      • Software
      • Tips & Tricks
      spreading-technology-THETECHNEWS

      How to Switch Careers at Any Age: Start a New Job in Your 30s, 40s, or 50s!

      spreading-technology-THETECHNEWS

      These thought leaders share their thoughts on Data Privacy Day 2023!

      CyberSecurity-THETECHNEWS

      2023 Tech Industry Predictions!

      spreading-technology-THETECHNEWS

      2022 CyberSecurity Awareness Month Commentary (DH2i, StorCentric, Retrospect and Folio Photonics)!

      CyberSecurity-THETECHNEWS

      System Administrator Appreciation Day 2022!

      spreading-technology-THETECHNEWS

      Why Is Data Privacy Important to Businesses: 7 Things to Keep in Mind!

      Trending Tags

        • News
        • Tips & Tricks
        • How to!
        • Courses & Programs
        • Software
        • VPN
      • Reviews
        • All
        • Hosting Review
        spreading-technology-THETECHNEWS

        Node.js vs. Python: The Best Language in 2023?

        spreading-technology-THETECHNEWS

        The Era of High-Speed Intelligent Printing with FDM 3D Printers has Arrived!

        spreading-technology-THETECHNEWS

        Why React is Cooler than Others || TTM

        spreading-technology-THETECHNEWS

        BDIX Hosting Advantage and Disadvantage!

        spreading-technology-THETECHNEWS

        PostPace Review- An Amazing Productivity Platform for Writers & Bloggers!

        Reviews-THETECHNEWS

        Best IoT Platforms Review: Going Top in 2021

      • Best 05
      • Applications
      No Result
      View All Result
      TTM
      No Result
      View All Result
      Home Business

      The Future of Nearshore Software Development!

      THETECHMUSK by THETECHMUSK
      August 20, 2021
      in Business
      25 1
      0
      spreading-technology-THETECHNEWS
      13
      SHARES
      662
      VIEWS
      Share on FacebookTweet

      Outsourcing has been in business for a while now. The ease of finding talented and skilled individuals while spending a fraction of money has increased the popularity of this concept. However, along with a lot of butterflies, this concept also came with some drawbacks. Unfortunately, for some these drawbacks became quite prominent and therefore, the search for a proper solution began.

      Nearshore Software Development; a concept of nearshore outsourcing became the most perfect answer. Outsourcing from neighboring countries where salaries are not that high gave employers the greatest flexibility. In fact, this quickly became a successful idea.

      How did nearshore software development start? 

      Ever wonder when the outsourcing concept started? Well, your predictions can be wrong as the start wasn’t any time near. Rather, the initiative took place way before, more than 30 years ago. Once market leaders in the camera industry were having difficulties maintaining their data center. And therefore they thought if any other specialist could take care of it. 

      Consequently, another big name was around, and thankfully it was IBM. So, for better performance, Kodal gave its data center management authority to IBM. And the rest is a success story.

      After this famous partnership between two giants, other companies were intrigued as well. Furthermore, more and more companies started to outsource their processes. In most cases, IT projects as well as operations were outsourced.

      Why wouldn’t this succeed? In recent surveys, it shows that US companies are struggling to find the right skillset in individuals. In fact, there is a significant deficit for employees in the market. If the market is not providing the demand, then outsourcing is the only left way. Consequently, the rise of nearshore software development concepts was also triggered.

      white printer paper on macbook pro

      The Problem and the Solution

      Initially, when it came to outsourcing, most of the Asia countries came into the spotlight. The level of skill set compared to the requested salaries seems too convincing for any US or European clients. Neither did they ask too much to pay, nor did they lack any skillset. Everything was going smoothly.

      But this was not a fairytale from Disney. In fact the opposite. Problems started to rise, and most prominently communication barriers became too chronic. US or European companies started to have communication problems, as well as controlling and supervision, became less impactful. Even the graph of efficiency started to fall.

      Companies wondered, how can they solve this. And the answer came in the shape of Nearshore Software Development. A very effective concept, this system allowed them to reduce the gaps between communication as well as cultural differences.

      For example, Mexico is gaining popularity in the US market as a vital outsourcing source. In fact, with the growing number of IT graduates in Mexico, the number of remote workers is increasing. It is expected that the market in Mexico is growing at a rate of 10-20% each year. To give you an idea, this industry is already the 3rd largest export of the country. Now, just guess the sheer size.

      The Future of Nearshore model

      The future of Nearshore Software Development is bright. In fact, it is brighter than you are expecting. The dramatic increase in the demand for such workers is taking the market by storm. And this time, this storm is one of the biggest ones.

      There are several surveys as well as research that has been conducted and the results are astonishing. A very well-known forecast and statistics site Statistica has given an estimation of nearshore outsourcing industry value at an outstanding value of $413.7 billion. In comparison, the recent market value is around $378.1 billion. That’s a $35 billion increase in just a course of 2 years, almost a $17.5 billion addition each year.

      In fact, the rise is so prominent that one article by digitaljournal.com claims that US companies will increase the use of nearshore outsourcing. Moreover, the most demanded sectors will be blockchain, the cloud, IoT, and AI. Speaking of AI, according to MarketsandMarkets, this market will reach $190.61 globally. For your reference, the current market value is around $21.46 billion.

      The future seems rather exciting for the outsourcers. In fact, this time not only the companies are getting the benefits, rather workers are benefitted too. The increasing competition is increasing the wages as well as work hour rate, therefore, none of the parties are getting exploited.

      The Prediction

      With the views from some of the vital researchers, there is no way Nearshore Software Development is failing. Rather the increasing demand indicates that this is in fact, a lucrative area for students as well as startups.

      Students can get easy jobs with their special skill sets. As nearshore is only focussing on neighboring countries, they don’t need to work at odd hours. Besides, the language remains quite the same, so does the culture. If the country’s local market fails to offer adequate opportunity along with pay, this can be a great solution. 

      On the other hand, companies, mostly startups, can get well-skilled employees at a much affordable rate. Countries like the US or Germany can benefit from this as some of their neighboring countries don’t offer as much pay as they do. So with a discounted salary, they will get similar or in some cases even better-skilled employees. Besides, the deficits of perfect employees in countries like the US will be lessened, as companies don’t need to rely on local offerings.

      Chiefly, the predictions are extremely positive, where a win-win situation is present for both parties. This not only will aid them, rather aid the economy of each party’s countries.

      Final Verdict

      What nearshore software development is offering to the parties is impeccable. Consequently, this time, not only one party is getting the benefits. Rather, both the employers as well as the employee are getting the fruit of this popular concept.

      Where companies are happy with employees with similar cultures, employees are sensing the same. This time the cost is controlled as well as the performance. Hence, the rise of popularity. Besides, the future is indicating the exact.

      With the rising number of companies as well as graduates, the concept will grow more. In fact, in the near future this can be an industry leader, and this time this is quite possible. 

      Tags: Nearshore Software DevelopmentSoftware Development

      Get real time update about this post categories directly on your device, subscribe now.

      Unsubscribe
      TTM

      THETECHMUSK, shortly as TTM; spreads amazing content from worldwide based on technology, CyberSecurity, unique product reviews, applications & the BEST 05 listicles editorial approach. Get reading with the world of spreading technology!

      Follow TTM

      by sur.ly

      100% Reputable
      Tech News & Reviews

      Website
      2021

      Categories

      • AI & Big Data
      • Android
      • Applications
      • AR & VR
      • Best 05
      • Best Apps
      • Business
      • Business Wire
      • BusinessWire
      • Courses & Programs
      • Cyber Security
      • HealthTech
      • Hosting Review
      • How to!
      • Interview
      • IoT
      • MarTech
      • News
      • Personality
      • PR Newswire
      • Press Release
      • Reviews
      • SaaS
      • Software
      • Startups
      • TechNews
      • Tips & Tricks
      • Tips & Tricks
      • Trending

      Recent News

      spreading-technology-THETECHNEWS

      How to Pick a Company for Blockchain Software Development in 2023!

      February 2, 2023
      spreading-technology-THETECHNEWS

      ShopUp, a Bangladesh B2B Startup, has Secured $30M in Debt Financing!

      February 2, 2023
      spreading-technology-THETECHNEWS

      The Future of SEO in the AI Era!

      January 31, 2023

      Reviews

      spreading-technology-THETECHNEWS

      PostPace

      You now have got a better visualization of what actually PostPace $49
      Reviews-THETECHNEWS

      Deepmind Technologies

      The mission is to develop a capable problem-solving process that is
      Reviews-THETECHNEWS

      SiteLock

      SiteLock focuses on helping out small businesses of the underserving market. $149.99 per site/year (SecureAlert)
      • About Us
      • Privacy Policy
      • Cookie Statement
      • Write For Us?
      • Contact

      © 2023 THETECHMUSK || "Spreading Technology by TTM".

      No Result
      View All Result
      • TechNews
        • Trending
        • Startups
        • Stories
        • AR & VR
        • IoT
        • AI & Big Data
        • Personality
      • Cyber Security
        • Courses & Programs
        • Software
        • VPN
        • How to!
        • SaaS
      • Reviews
      • Press Release
      • PR Newswire
      • Business Wire
      • Contact
        • Write For Us?

      © 2023 THETECHMUSK || "Spreading Technology by TTM".

      Welcome Back!

      OR

      Login to your account below

      Forgotten Password? Sign Up

      Create New Account!

      Fill the forms below to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In

      Add New Playlist