It is no secret that software development, automation, IoT (Internet of Things) as well as other modern technology evolve in proportion to their growing demand. Companies of various industries seek to achieve more efficiency and process simplification in their day-to-day operations adopting RPA and / or AI solutions. Furthermore, during the COVID-19 pandemic, businesses switched to remote work culture and the need to automate workflow was also increased thus this factor accelerated the market growth.
However updating the technology in-house frequently can be very challenging and as a result companies are outsourcing to service providers. Being experts in their specific field, service providers are more likely to update themselves about the advancements in technology than an in-house team.
Have a look at some of the most trendy technologies used these days…
Trending technology in the outsourcing industry №1:
Robotic Process Automation (RPA) Solutions
RPA is a software technology helping to build, deploy and manage robots to carry out simple tasks. As we already mentioned, companies realize they can save money, optimize operations and improve productivity by using robots to perform repetitive tasks. This demand is expected to influence the RPA market’s development significantly in the following years.
According to a Grand View Research, the RPA market size was worth $1.89 billion in 2021 and is projected to expand at a CAGR (compound annual growth rate) of 38.2% from 2022 to 2030.
Trending technology in the outsourcing industry №2:
Cloud Computing
Cloud outsourcing is essential to access other modern technologies like AI, RPA, machine learning. It also empowers enterprises to collect, store and access their resources on a cloud using remote servers hosted on the internet. The increasing volume of data generation in websites and mobile apps, the rising focus on delivering customer-centric applications for driving customer satisfaction, and the growing need to control and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) are some of the factors driving the development of emerging technologies like big data, AI, Machine Learning (ML). This leads to the growth of the cloud computing market globally. Also major factors influencing the the growth of the cloud computing services are important topics such as data security, faster Disaster Recovery (DR), meeting compliance requirements.
There’s also the need to mitigate risks, achieve scalability and flexibility to move and store data, to reduce storage and infrastructure complexities, increase business efficiency.
According to a 2021 Cloudwards survey the value of cloud computing can reach $947.3 billion by 2026. In addition, 94% of all surveyed tech companies used cloud services in 2019.
Trending technology in the outsourcing industry №3:
Artificial Intelligence and Automation
Artificial Intelligence and Automation is used by businesses as well as outsourcing companies for the automation of repetitive tasks, such as calculations or replying to messages. AI is also helping providers improve customer service. Such examples are chatbots or cloud-based IVR (Interactive Voice Response) – widely-used outsourced AI services.
Tech giants like Amazon.com, Inc.; Google LLC; Apple Inc.; Facebook, International Business Machines Corporation and Microsoft invest seriously in the AI’s research and development. These companies are working to make AI more accessible for enterprise use-cases. Furthermore, various companies adopt AI technology to provide a better customer experience. Here’s an interesting example: in March 2020, McDonald’s made a surpassing tech investment of USD 300 million to acquire AI start-up Tel Aviv to provide a personalized customer experience using the AI.
Such investment only confirms that the adoption of advanced technologies like AI is spreading in various industry verticals. According to the Grand View Research the global artificial intelligence market size was valued at $93.5 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 38.1% from 2022 to 2030.
AI is proven to be a significant revolutionary element of the upcoming digital era.
Companies keeping abreast of emerging technology can use it to achieve many improvements like process optimization & automations, better productivity & efficiency, cost optimizations and so on. Relying on the experience and knowhow of outsourcing providers, specializing in their field is always a good decision and reasonable investment, especially when the organization doesn’t have the resources and / or knowledge to keep up with the constantly evolving modern technology in-house.
Speaking of experience and know-how, you can definitely rely on our outsourcing solutions regarding: