Posted by DigitSapiens | 23 Nov 2020
Everyone can see the use of technology keeps growing every moment with continuous digital conversion and new IT solutions entering the market. Gartner report states a total of $3.8 trillion is spent on IT. $92.5 billion from that is spent on Team Extension. Market specialists believe that these figures will be higher at the end of 2020.
Seeing this growth, companies keep turning to team extension for their software development because they can get their software on the market quicker and stay ahead of the competition.
Usually, some prefer to hire a big IT company specialized in many technologies but lately, many are turning to one field of expertise. This happens because technology keeps developing. It is hard to keep up with the latest trends and requirements. Going for companies that provide specialized team extension in one area allows them to evolve their knowledge and gain proficiency in a field of expertise. Although the outsourcing providers who can offer multiple services are coming out at the top, soon field experts predict that an extended team built precisely on one area will have more demand.
These tough times of COVID-19 have caused a burst in online shopping from all generations. As time passes people are opting for buying online and this is leading to companies investing in UX(User Experience). According to a study, if a customer had a great shopping experience online, odds are that next time they will spend 140% more. IoT and AI consists of chatbots, real-time data, and a more specified shopping experience that intensifies satisfaction level.
Part of blockchain services are things such as microtransactions and smart contracts. These services are used to fortify security, raise transparency, and grant money-making solutions for companies and startups. The amount spend on blockchain services is predicted to reach up to $16 billion a year by 2023, but because of lacking blockchain experts, it is necessary to rely on team extension for solutions.
Cyber attacks are not a novelty, and while they cost millions there is something else that is becoming as important- Data Protection. Data is very important to a company and since the new legislation GDPR(General Data Protection Regulation) was made known, companies are rushing to hire IT security experts to make sure that their business is well protected and flexible.
The total amount of data that is gathered around the world is beyond the imagination. According to research dating back to 2013 by Nasuni, there was 1 Exabyte of data stored in the cloud. That was like 1,073,741,824 Gigabytes of data. Imagine how much the amount might have increased now in 2020 and it all has to be stored somewhere. Companies are spending close to $1 trillion so they can move to cloud storage. They are hiring dedicated teams extended just for this purpose.
Digitalization has affected and developed fintech, healthcare, and telecom to the point that is becoming essential. Fintech is using AI, Blockchain, and Peer-to-Peer transactions. Healthcare is relying on VR and AI to be able to give a proper diagnosis. Also, the 5G network that is the talk of the moment in telecom will lead to new opportunities for extensive connections to IoT networks.
Before, companies were enticed by lower rates so they could cut operational costs. Even though it is one of the team extension pros today the focus turns to quality. While places in other continents were able to offer some of the lowest rates, Southern Europe is becoming more attractive. Places like Albania provide highly skilled expert, excellent teams that also enable companies to budget efficiently and pay only when they need, what they need.
Remember the Pokemon Go "tornado"? Smartphones are implementing AR and VR solutions to place ahead in the market. Technologies like this are expected to enhance shopping experiences and make their impact on e-learning, tourism, manufacturing, and many more.
RPA certainly has some advantages. Some of them being fewer mistakes, reduced operating costs, and can be used in different fields of industry for things like payment processing and more personalized service. Virtual assistants are the right example that shows how this technology can help company operations. Extended team providers are very interested in automation and augmented analytics.
PWA(Progressive Web Apps) allows for websites to give the same experience that the app provides for users. Google can be an example of where the user experience is the same for smartphones and desktops. UX is the kind of element that decides the success of software. Costumers will not tolerate a poor UX! Companies will tend to look for IT team extension providers that can deliver PWA.
If your team can not keep up with the fast-changing technologies and your IT outsourcing provider costs keep rising, there are many like you. However, doing nothing means that you will fall behind your competition. If you are looking to create solid partnerships, benefit from IT expertise, and provide a quality product or service in 2020, Team Extension is the right solution to be considered.
Everyone can see the use of technology keeps growing every moment with continuous digital conversion and new IT solutions entering the market.
The IT industry in Southern Europe used to be more focused on local projects, while projects for overseas clients were not given the same priority.
After finally getting to the point where you get a clear idea of what the market needs and how you can provide it with your business, you need to take the next step to create a successful beginning and a promising future for your business.