Technology outsourcing – analyzing emerging trends
Technology outsourcing – analyzing emerging trends
Technology outsourcing has been in existence since the early days of the digital revolution, but it is only in the last few decades that it has managed to acquire a unique name for itself. In recent years, the main growth drivers for this dynamic industry have been the IT (Information Technology) and ITES (IT Enabled Services) sectors. Together, these two sectors have contributed significantly to the growth of the technology outsourcing industry, generating billions of dollars in revenues every year. Both these sectors together are currently growing at an average rate of around 30%, a significant achievement, especially after considering the fact that just around a decade ago, both these sectors were in their infancy.
So, where actually is all the growth happening? Well, the growth of the technology outsourcing industry is spread out worldwide, but as far as the growth of IT and ITES sectors is concerned, its happening mostly in developing countries such as India. A significant percentage of the overall growth is happening in India because the country has some essential natural advantages such as a vast talent pool of industry-ready professionals, proficient in both spoken and written English.
Finding highly educated and technically proficient professionals as is required by the IT and ITES industry is also not a problem in India because the country has a vast network of colleges and universities that churn out both graduates and post-graduates by the tens-of-thousands, every year. With easy availability of skills and talents and of course the low operating costs, it’s not surprising to know that India has emerged as the world leader in technology outsourcing.