Software development is increasing at a higher rate day by day and companies throughout the world are earning billions of dollars with software development. But have you forecasted which companies earn more, Offshore or Nearshore?
Nearshore software development companies are those companies that are located in proximity to the country with similar timezones, for example, India to Nepal.
While, Offshore companies are those companies that are far away from your country and have different timezones, for example, India to the United States.
There are many projections that state that Offshore companies weighted around 90% of the revenue of software development companies in the early 2000s but as of now in 2021, many companies started Nearshore software development companies and it is projected that the revenue of such companies will grow.
It is all due to the Ai, IoT, and cloud market. As cloud and Ai is getting popular every day, so do softwares using them. Nearshore outsourcing is gaining momentum in the few past years and is growing now too.
Well, give us your suggestion about such forecast in the comments below.