When it comes to offshore software outsourcing, India is considered as the leader in software development. But look out India, as Vietnam is quickly emerging as one of the best alternatives to India for offshore software development. Offshore development is expected to grow by 50% over the next few years. Companies that are currently outsourcing software development will double their budget to meet growth expectancy. Offshore development is not in an experimental stage anymore; new companies consider offshore development as a common practice. Simply adding up these factors, offshore development will be a booming industry for a long time.
Currently India has a market share of around 80% in offshore development. With rising offshore development demand, it will be difficult for India to provide skilled labor to keep up the pace. Due to the demand & supply, the wage rate in India is likely to increase. Therefore as an alternative, Vietnam is already providing a low cost offshore development. Companies are bound to look out for cheaper outsourcing software development. A lot of Fortune 500 companies outsource to Vietnam currently and this trend will continue in the future as a lower cost offshore development alternative. Vietnam software engineers are technically on par with the rest of the world and they are best known for application, testing and maintenance.
Vietnam will not be able to dominate the outsourcing software development due to scale but it definitely has the potential to drastically increase its market share in website development and web design. Vietnam provides a focused strategic approach that will be an advantage to companies looking out for a low cost alternative. Vietnam could very well become the next "Silicon Valley" by giving a competitive and global advantage to offshore development. Vietnam is determined to attract a lot of outsourcing software development with cheap labor costs and collaborative strength of financial, educational and governmental institutions. As an offshore development country, Vietnam is quickly emerging as the best alternative to many outsourcing companies.
Outsourcing to Vietnam is not limited to software development. There are a lot of individual programmers who manage to get a personal contract from small companies for website design. Website development & web design is in huge demand, as more people around the world want to promote their business through the internet. Vietnam has a great vision to facilitate more offshore development in the coming years. With the rise in outsourcing software development demand, Vietnam will become a major player with a comparative outsourcing advantage. Several software companies in Vietnam have won appraise from around the world for the cost effective software applications. On top of it, Vietnam has increased its global presence by effectively promoting its capability in the world of offshore development.
Outsourcing software development will continue to grow by leaps and bounds. With that, Vietnam will make its presence felt along with the other giants in a short period of time. Silicon Valley in Vietnam will become a dream come true and will create a new chapter in the game of offshore development.
No comments:
Post a Comment