​​In today’s interconnected global economy, businesses of all sizes are increasingly expanding their operations beyond their home country. However, doing business in foreign markets can be challenging, and it requires expertise in a wide range of areas, including tax laws, regulatory compliance, cultural differences, and more. That’s where an offshore expert can be a valuable resource for businesses seeking to expand internationally.
In 2021, the managed services market was worth $161 billion globally, which is anticipated to surpass $300 billion by 2027.
What is offshore software development?
Offshore software development is the practice of hiring a team of software developers located in a different country or region to develop software for a company. This team of developers is typically based in a country where the cost of living is lower, which allows for cost savings for the company. The process involves working with a software development company or a team of individual developers to build software that meets the needs of the company.