The IT outsourcing world in 2024 will keep changing a lot. This is because of new technologies, market changes, what customers want, and new rules.
IT outsourcing is becoming more important for growing businesses, making customers happy, and staying ahead of others. Experts think that by 2030, the money made from IT outsourcing will be about USD 1.06 trillion. This big growth is because of new tech, the need for strong plans, and what customers want.
In 2024, we expect to see big changes in IT outsourcing. These changes will help businesses work better, be more creative, move faster, and save money. Knowing these trends helps businesses make better choices and use these changes well.
If you own a business and want to be a leader in IT outsourcing, you should learn about the latest trends in 2024. Understand the good things about IT outsourcing and how to choose the best partner for software development outsourcing.
Overview of the Global IT Outsourcing Market
The global outsourcing market is mainly about two things: Business Process Outsourcing (BPO) and Information Technology Outsourcing (ITO). This market is about giving out IT work to others. This is growing because more people want digital change, cloud technology is popular, and there aren’t enough skilled IT workers. It also lets companies save money by using cheaper labor in different places.
A report says the IT outsourcing market will grow fast. It will go from $565.2 billion in 2022 to $1416.3 billion by 2031. This shows that IT outsourcing is growing quickly and changing the IT world.
The growth of the market comes from:
- Saving costs
- Getting special skills and knowledge
- Focusing on the main parts of the business
- Being able to change and grow easily
- More use of digital change strategies
- Needing good IT management
- Wanting new and creative solutions
New tech and trends in IT outsourcing, like AI and machine learning (AI/ML), automation, and the Internet of Things (IoT), are making businesses see IT outsourcing as a key way to help their digital change and grow their business.
New IT Outsourcing Trends Changing Business
Technology is changing fast, and so are the ways businesses work and succeed. IT outsourcing is more than just saving money now. It’s a key part of business, helping companies use new tech and expert skills.
Let’s look at the main IT outsourcing trends and how they will change business in the future.
Nearshoring
Nearshoring is getting popular. It has clear advantages over the old way of sending work far away. Now, about 80% of companies in North America are thinking about nearshoring.
This means giving work to countries close by, usually in the same area. It’s big in IT, software, customer help, making things, and shared services. Nearshoring helps companies work smoother, use special skills, and be more efficient. It’s becoming a big trend in software outsourcing for 2024.
Using Collaborative Tech
Collaborative tech is important for good relationships and better project results. Tools for managing projects, DevOps, sharing documents, and cloud solutions help businesses and their outsourcing partners work together well. The pandemic showed how good these tools are for remote work.
Focus on Security and Data Privacy
Cyberattacks and data leaks are happening more. So, in 2024, IT outsourcing will focus more on cybersecurity. Gartner says global spending on security will be $215 billion by 2024, up 14.3% from 2023.
Companies want safe data handling. They need service providers to follow strict security rules and privacy practices. This means strong encryption, regular checks, and following data protection laws to lower risks.
More Cloud Services
Cloud computing is a big part of IT outsourcing. It’s good because it can change size, is flexible, and saves money. Companies are putting more money into cloud services. Gartner thinks about 75% of businesses will use cloud strategies by 2026. This will change how companies use data and cloud apps.
AI/ML, Chatbots & Automation
AI, ML, and chatbots are changing IT outsourcing. By 2024, they will make big changes. They will help predict problems, make better decisions, and improve customer service. AI chatbots will always be there to help customers. Automation will do repeat tasks, and ML will find important info in big data. These techs will make work better, save money, and let people focus on bigger tasks.
Blockchain in Outsourcing
Blockchain started in finance, but now it’s affecting other areas, like software outsourcing. Its secure, trustable way of storing data is attractive. Blockchain helps companies understand their data better. As more people see how good it is, more will want blockchain outsourcing services.
Top Benefits of IT Outsourcing
IT outsourcing is great for both small and big businesses, and it’s more than just saving money. Let’s see the main good things about IT outsourcing.
Cost Savings
A 2023 Deloitte study says a main reason companies go for IT outsourcing is because it’s cheaper. It lets them use skilled people and new technology without spending a lot on their equipment and maintenance.
Read more: How to Reduce Software Development
Expert Skills
IT outsourcing gives access to expert skills. Companies can use special skills in things like making software, protecting against cyber threats, and analyzing data. These skills might not be in the company already. This can make their services and products better.
Focus on Main Business Goals
Outsourcing IT work means companies can focus on their big goals and plans. They can let outside experts handle regular IT tasks. This lets their teams work on new ideas, make new products, and look after customers better. This can make the business do better.
Flexibility and Ability to Scale
IT outsourcing is very flexible. Companies can change their IT needs based on how busy they are or for special projects. This helps the business run smoothly and use resources in a better way. IT outsourcing is a smart way to be more flexible and get good results.
More Efficient and Productive
Working with IT service experts makes work go smoother. This leads to being more efficient and getting more done. Using the latest technology and good processes means finishing projects faster, solving problems quicker, and doing better overall.
Managing Risks and Following Rules
It’s important to follow industry rules. Outsourcing IT to people who know these rules well helps lower risks and keeps data safe and private. This reduces the chance of legal issues and data leaks.
24/7 Support and Better Customer Service
Many outsourcing companies give support 24/7. This means they are always ready to help and fix problems fast. Better and quicker service means customers are happier and stay with the company longer.
Growing Globally
IT outsourcing helps businesses grow in the world market. Using skilled people from different places helps the business expand, find new customers, and be more successful globally.
Why EZtek Should Be Your Preferred Partner for IT Outsourcing?
EZtek is a top choice for software development outsourcing. We are great at making and managing skilled teams, handling hiring, and checking everything carefully. Our team of expert developers can take on any digital product engineering work you want to outsource.
In our development center, we have a special team of top IT experts. They are ready to take care of the whole development process. Use EZtek’s experience in software development to improve your business and help with your digital changes. Our outsourcing plans are made for working together for a long time, and we are proud of the value we offer.
EZtek has been a trusted partner in software development for over 13 years. We help medium and big businesses around the world with their digital changes. We have a lot of experience in making products, updating applications, working with cloud technology, and other digital services. We have everything needed to meet your outsourcing needs.
