Bangladesh, a small nation residing among some of the huge tech and IT outsourcing countries in the entire South Asian region. The country is rapidly gaining momentum in the global marketplace as a booming IT outsourcing haven. According to credible sources and research, Bangladesh has reached the potential of being in the medium position in terms of its readiness to create a sustainable outsourcing platform in the country. Numerous factors have been taken into consideration to access the true potential of Bangladesh being the next best suitable outsourcing destination. Some of the factors include economic condition, political circumstances, education system, technology infrastructure, presence of global companies in the country, and availability of skilled professionals required for this domain.
As per a study conducted in 2018, the results projected that the economy of Bangladesh is flourishing and has been expected to grow at an impressive rate of 7% per year. In addition to that, Bangladesh has the capability to offer more than 1100 IT companies along with 80000 IT experts. The study also reflected on the staggering growth regarding the increasing number of over 100 companies being engaged in providing IT services in more than 30 countries. Some of the globally renowned companies which are involved in outsourcing in Bangladesh include Sony, IBM, Fujitsu, and many others.
Offshoring in India vs. Bangladesh: Choosing the Right Destination
The first name that will come into the mind while wondering about software outsourcing destinations in the Asian region, must be India. India has successfully positioned its country image in the global marketplace. The IT sector of India has expanded to the extent that the revenue generated solely from this sector contributed around 7.7% to the country’s GDP. Experts anticipate this contribution to GDP from the IT sector will escalate to 10% by the year 2025.
India is a major hub for IT outsourcing and owns around a market share of over 55% among the billion-dollar global business of the US. Despite the pandemic situation, India progressed in this sector and newly recruited 138,000 people into the sector. The software product industry of India is growing fast and is expected to reach a level of US$ 100 billion by the year 2025. The Indian companies are heavily focusing on global investments and expanding their reach in various other markets.
Based on a study made by NASSCOM, India witnessed an impressive growth of 8.3% in 2019. The innovations introduced into the sector have led to such massive growth. Advancement in cloud computing, robotics, IoT, virtual reality, and several other groundbreaking developments remains to be the key reason behind such transformation in the IT sector of India. Some of the top-notch software companies include Infosys, Mphasis Ltd, Tech Mahindra Ltd, Tata Consultancy Service, Wipro Limited, Mindtree Ltd, HCL Technologies, Hexaware Technologies Ltd, Redington India Ltd, and Larsen & Toubro Infotech Ltd.
Outsource Software Development to Bangladesh
Even though India has progressed greatly in the IT sector, Bangladesh has also made tremendous improvements to catch up with the neighboring countries. Bangladesh is going through the developing phase and soon it will become one of the major software development outsourcing hubs in the global arena. Even back in 2011, Bangladesh was recognized as one of the top 30 countries potentials for offshore services.
Over 20000 people are actively working in this industry and software development and IT-related projects have doubled in the last couple of years. Every year a huge number of engineers and computer graduates are entering the market while possessing both strong technical and English-speaking skills.
Apart from the talent pool which acts as a major resource for Bangladesh’s IT sector to grow, there has been a rise in several global companies forming up their offshore development centers here in Bangladesh. Companies prefer to outsource services in Bangladesh is to gain a cost advantage. Even countries like India, Poland, and even Sri Lanka have higher cost rates for delivering offshore services.
Offshore Development: Software Company in Bangladesh
The market for offshore software outsourcing in Bangladesh has been prospering day by day. The increasing need to offshore several software development tasks starting from basic coding to software support and maintenance, web development, mobile application development are leading to ensuring effective business operations, as well as improving the development time of the clients. Meeting the customers’ expectations in the best possible manner becomes easier to establish through improving offshore development services.
A company named BJIT has started its journey in the IT field more than 20 years ago to pave the way for software development outsourcing to Bangladesh. BJIT has an enormous dream of transforming the IT sector of Bangladesh so that it becomes the biggest offshore destination for global brands all across the world. Up until now, BJIT has made a significant contribution to the country’s GDP through generating revenue in the IT sector. The company plans to proceed forward with the same dedication and aim of taking Bangladesh to the zenith of its success by ensuring top-notch quality products and services to respected clients.