Software Product Development in 2018 | An Infographic by RapidValue
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In 2018, enterprises are increasingly outsourcing software development to leverage cost reductions and access specialized skills, with potential savings of up to 70%. Outsourcing allows companies to focus on market entry and customer acquisition while benefiting from the expertise of managed teams. The document highlights trends in IT outsourcing, including the rise of big data and blockchain technologies, and emphasizes the importance of partnerships with professional service providers.
Software Product Development in 2018 | An Infographic by RapidValue
- 1. Software Product Development in 2018 - Product Development Services 2.0 10 Reasons to Outsource Software Development Trends in IT Outsourcing 2018 With the advent of several new technologies in the recent past, enterprises are expanding their horizons and looking beyond the periphery of their own organizations to forge strategic partnerships when it comes to software product development. The emergence of what Forrester calls the Product Development Services 2.0 Reduces Cost Outsourcing can reduce development costs by 70% compared to an in-house team. Work with a Managed Team With in-house employees, you need managers. Outsourced teams on the other hand do most of this work for you. Today’s outsourcing service providers are professional companies. They are not just vendors, but business partners. Professional Services The sooner you can get your product to market, the better. Go-to-Market Faster Spend Less Time on Support You need a team to maintain your product while you focus on winning customers. You are free to choose the best team based on their skill set, work culture and price. Hire Globally Incubate with Less Risk By outsourcing, you get the benefit of incubators without the cost of relocating. Work with Experienced Developers Most reputable service providers have years of combined experience working with companies on successful projects. 1. High demand for the big data software developers 2. Adoption of Blockchain technology 3. Specialization of IT expertise by outsourcing companies Hire a team that already has the tools, resource, skills on-hand and up-to-date on market trends. Access to the Latest Technology Save time and money by hiring a seperate team for each project or have a dedicated team that stays with you across projects. Gain Flexibility and Speed 0 20 7.6 12.25 19.6 18.3 22.6 28 35 42 49 56 64 70 77 84 90 96 103 40 60 80 100 120 MarketvolumeinbillionUSdollars 2011 2012 2013 2014 2015 2016 2017 2018* 2019 2020 2021* 2022* 2023* 2024* 2025* 2026* 2027* Source : Statista, Spiceworks 0 0.95 2017 2018* 2021 2.1 9.2 2 4 6 8 10 12 SpendinginbillionU.S.dollars IT Automation Advanced Security SDS/Virtual SAN IoT IaaS PaaS SDN Hyperconvergence VR 3D printing AI 0% 20% 40% 60% 80% 100% Adoption of Technology Trends Currently use Planning to use in 12 months 29 % 24 % 21 % 29 % 23 % 37 % 20 % 47 % 18 % 45 % 23 % 53 % 15 % 43 % 20 % 51 % 20 % 55 % 21 % 51 % 22 % 25 % Information Technology Spending Forecast Worldwide to 2020 Source : Statista 0 500 1000 1500 2000 2500 1995.7 2015 2016* 2017* 2018* 2019* 2020* 2040.1 2109.5 2185.3 2254.5 2328.1 3000 SpendinginbillionU.S.dollars Spending on IT is forecasted to reach $2.3 trillion by 2020 worldwide Top Drivers of New Software and/or Services Purchase Source : Statista 0% 20% 40% 60% 80% End of Life 54% 53% End of life Growth/ additional need Upgrades/ refresh cycles End user needs Budget availability Software / App compatibility Project need 49% 46% 45% 30% 29% "End of software life" is the top driver of new software purchase, close followed by growth or additional need. Top drivers to Purchase Solutions through Channel Partners Source : Statista 59% 49% 47% 45% 37% 31% 31% Speed of delivery Product availabiliy Ease of Purchase Positive prior experience Trust / reputation Existing relationship Price 0% 20% 40% 60% 80% Price is the major factor to purchase solutions through service providers. RapidValue is a leading provider of end-to-end mobility, omni-channel, IoT, RPA and cloud solutions to enterprises worldwide. Armed with a large team of experts in consulting, UX design, application development, testing along with experience delivering global projects, we offer a range of services across various industry verticals. RapidValue delivers its services to the world’s top brands and Fortune 1000 companies and has offices in the United States, the United Kingdom, Germany and India. +1 877.643.1850 contactus@rapidvaluesolutions.com www.rapidvaluesolutions.com © RapidValue Solutions Big data market size revenue forecast worldwide from 2011 to 2027 Worldwide spending on blockchain solutions from 2017 to 2021 From IT automation to emerging technologies (AI, RPA, VR), IT service providers are coming on board with exciting new tech. Worldwide Software Budget Breakout for 2018 Source : Spiceworks SECURITY BUSINESS SUPPORT APPS COMMUNICATIONS PRODUCTIVITY BACKUP/DISASTER RECOVERY DEVELOPER TOOLS VIRTUALIZATION DATABASE MANAGEMENT IT MANAGEMENT OTHER OPERATING SYSTEMS INDUSTRY SPECIFIC APPS EMAIL SERVERS DON’T KNOW 8% 11% 10% 10% 9% 9% 7% 7% 7% 6% 5% 4% 3% 3% Industries Perfect for Outsourcing Software Development e-Commerce Finance/Banking Healthcare Education Manufacturing