5 Industries Perfect for Outsourcing Software Development

Curious if your business or upcoming project will make a good fit for outsourcing? The truth is that most software development projects are successful with the right team. However, according to a recent SourceSeek survey, these 5 industries are best for outsourcing software development. The entire report, which contains data from over 600 software development teams from across the globe can be found on Clutch.

E-Commerce

This may seem obvious, but the data shows that E-Commerce is truly perfect for outsourcing. According to our report, 18% of teams list E-Commerce as one of their top-3 specialties — nearly 50% higher than the next closest specialty. What’s even better is that the average hourly rate for top notch E-Commerce specialists is only $29/hour, 7% below the average for all offshore development.

Finance/Banking

Financial Technology (FinTech) continues to make news with the widespread adoption of new consumer-facing technologies. Betterment, WealthFront, Mint.com, as well as world-changing ideas like BitCoin are making a dent in this legacy industry. Development teams are catching on to these trends, and 13% of survey respondents report Finance/Banking as a core expertise. While, the $33/hour average these teams charge is slightly above average for offshore development, it’s still a bargain given the complexity of many finance and banking applications.

Healthcare

Everyone is waiting for the heath care industry to modernize. Our data shows offshore teams are a great way for healthcare companies to upgrade their technology at a reasonable price. 12% of survey respondents identify healthcare as one of their top specialties, and with an average hourly rate of $30, healthcare companies would be wise to look offshore for development talent.

Education

Similar to healthcare, the education industry is infamous for slow technological adoption. Schools, teachers, and universities need better software but often lack the funds or skills to produce it themselves. That may be changing, however. Over 8% of survey respondents have an expertise in education technology (EdTech), and only charge an average of $30/hr. That is a rate even educational organizations with small budgets should be able to afford.

Entertainment/Media

It’s no secret that the internet an entertainment are made for one another. From live content, to steaming movies, to video games, it’s safe to assume new and novel entertainment sites will continue to pop up with frequency. It’s a competitive market, but one area to gain an edge over competitors is development costs. By using an offshore team, you could pay just $34/hr for teams with an average of 8 years of experience in digital media/entertainment.