China, the Philippines, India, Russia, Argentina, and Mexico, are a few nations that spring to our mind when we consider outsourcing IT & Software projects. While they are excellent for exporting work abroad, the congestion reduces the benefits companies may obtain.
Let’s have a look at figures estimating the market size of IT outsourcing: (source: Statista)
IT Services global spending: 1,283bn US$
Managed services market size: 161.37bn US$
Managed security services market size: 23.19bn US$
In 2022, the combined revenue for the above segments was approximately $400 billion. Fact check – the managed services market has seen significant growth in recent years, with key segments being;
Managed security services
Managed network services
Managed data center
Managed IT infrastructure services
Businesses have always sought cost-effective solutions, a highly trained workforce, no communication barriers, and round-the-clock support centers. Pakistan is ranked as the third-largest English-speaking nation, and many people point to its untapped talent as a draw for outsourcing.
Here are a few reasons that make Pakistan an excellent location for IT outsourcing and how it can significantly benefit your company.
Pakistan has a significant pool of brilliant, highly trained, and educated IT specialists. Businesses may find it simpler to obtain the talent they require for their projects.
At the start of this century, Pakistan only had a bandwidth capacity of 155 megabits per second (Mbps). In the face of increased demand, today's capacity is three terabits per second (Tbps). The sixth high-speed link will be installed between Pakistan and China for $44 million, adding redundancy and serving the country's fast-increasing Internet traffic.
IT benefits can only be enjoyed if the nation is digitally connected, which, in turn, depends on robust telecom infrastructure. Pakistan gains brownie points in rapidly growing high-speed fiber connectivity.
Pakistan has grown and becomes much more reliant on the internet in terms of its use and penetration. Better internet connectivity is changing client behavior, convenience, and cost savings, shifting more in favor of organizations.
Emerging businesses and Western developed nations have drastically different compensation systems. Additionally, the cost of cybersecurity and IT services is significantly rising due to their rapid expansion. Enterprises are thus eager to locate areas where they can lower the cost of their IT service. Pakistan is the most fantastic site for outsourcing IT services at the lowest price.
Genius resides in the ability to see opportunity in adversity. Due to this, the term "crisis" in Mandarin is made up of two characters, one of which stands for danger (Wei) and the other for a turning point (Ji).
The dollar-to-rupee parity, therefore, benefits these enterprises.
The work ethics of Pakistani IT firms are quite strong, and they can communicate and establish enduring bonds with clients. IT businesses have stringent hiring procedures in this part of the world, and applicants having excellent communication and presentation abilities are selected. By doing this, the language barrier is removed, and communication is easy.
The 12-hour time difference from the United States is advantageous for businesses looking for 24-hour services.
Businesses must not only become efficient in these quickly evolving times but also evolve via innovation. Therefore, IT outsourcing is the future, and you will only last for a while if you're ready for it. In light of this, Pakistan's young, creative minds contribute significantly to society's improvement via IT and emerging technologies.
Overall, outsourcing projects to Pakistan can provide businesses with several benefits, including cost savings, access to a talented workforce, robust technology infrastructure, and a supportive and cyber-secure business environment. Therefore, Pakistan is a location for technology outsourcing that meets business demands, and as a result, many companies are wise about where they turn for their outsourcing requirements.