Europe Software Services Offshoring Market to Grow at an Impressive Rate through 2029
Increasing
need to drive down the operational costs within organizations to fuel the growth of Europe software services
offshoring market
According to
TechSci Research report, “Europe
Software Services Offshoring Market By Type (Direct, Indirect), By Service
(Product Design & Architecture, Coding & Testing, SaaS Development,
Others), By Vertical (IT & Telecom, Healthcare, BFSI, Retail, Manufacturing,
Government, Others), By Country, Forecast & Opportunities, 2025”, the Europe software services offshoring market is expected
to grow at an impressive rate during the forecast period on account of associated
advantages of offshoring such as space management, scalability, effective risk
management, among others. Additionally, software services offshoring is
considered as an investment to improve the quality of operations coupled with
scalable and flexible service offerings. Furthermore, lack of time and need to
deliver the product/service to the client in due duration is anticipated to
foster the market growth. However, data security issues might hamper the market
growth during forecast period. Additionally, communication issues due to
differences in time zone, bandwidth, working hours, among others are further
expected to impede the market growth. Moreover, advent of technologies such as
AI and robotic processes has reduced the dependency on manual workforce to
carry out different tasks. This in turn is expected to negatively influence the
market growth through 2025.
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The Europe
software services offshoring market is segmented based on type, service,
vertical, company, and country. Based on type, the market can be bifurcated
into direct and indirect. The indirect offshoring segment is expected to
dominate the market since it does not require the client to be in direct
communication with the offshoring company and hence can focus on improving the
core competencies of his/her organization. Based on service, the market can be
categorized into product design & architecture, coding & testing, SaaS
development and others. The coding & testing segment is expected to
dominate the market through 2025. This can be ascribed to the fact that coders
require the latest and advanced computer & software technologies by
outsourcing a coding & testing project, in which the client can reap
benefits of advanced technologies without actually investing in it.
Additionally, quicker turn around time for the projects & assignments is
further expected to drive the segmental growth. Also, the internal coder within
an organization cannot focus on more than one project at a time. This impacts
both quality and time of delivery for projects, thereby driving the growth of
segment. Based on vertical, the market can be fragmented into IT & telecom,
healthcare, BFSI, retail, manufacturing, government, and others. The IT &
telecom vertical segment is expected to dominate the market owing to the access
to qualified and skilled IT professionals abroad. Other factors driving the
segmental growth include improved productivity, innovation, flexible services,
among others.
N-iX, Eleks, MentorMate,
STX Next, Qulix Systems, Perfectial, IT Craft, Itransition, Kanda Software, Devoxx
Software and others are some of the leading players operating
in Europe software services offshoring market. The companies operating in the
market are using organic strategies such as product launches, mergers and
collaborations to boost their share.
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“Europe software services
offshoring is expected to witness significant growth during the forecast period.
Europe is mostly offshoring projects to Asia-Pacific and Central European
countries. Central European countries such as Poland, Romania, Belarus, among
others are turning into IT hotspots due to technological adoptions and
advancements. Ukraine has already started turning out to be fresh destination
for software & services offshoring. Countries such as the UK and Germany
are offshoring their projects within these countries only, since there are no
significant cultural gaps, communication is also easy and these locations are
easily accessible through a 2-3 hour flight.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Europe Software Services
Offshoring Market By Type (Direct, Indirect), By Service (Product Design &
Architecture, Coding & Testing, SaaS Development, Others), By Vertical (IT
& Telecom, Healthcare, BFSI, Retail, Manufacturing, Government, Others), By
Country, Forecast & Opportunities, 2025”, has evaluated
the future growth potential of Europe software services offshoring market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in Europe software services offshoring market.
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