| | SEP - OCT, 20186E ERGYTech ReviewThe present worldwide market for technology ranges from US$35 to US$50 billion per year and is growing widely; among which onshore and offshore technology is one of them. The McKinsey Global Institute estimated that the total U.S. technology offshore outsourcing in 2001 was US$26 billion. More recent studies have also shown that organizations don't just stick to offshore outsource production activities; they also look to offshore outsource technology development. Numerous factors are driving business processes and leading global IT outsourcing providers to open up to both onshore and offshore technologies. This is because the technologies enable organizations to focus on competence and not just investment of the technology. Contributing to the increase in onshore technology is the dependence of service providers on a `talent pool' that is capable of sustaining and supporting complex services. Besides, offshore outsourcing ensures access to highly skilled labor, higher cost savings and improved performance due to the knowledge gained from a different location. Both, expansion of onshore and offshore technology are likely to continue for some years as the digital transformation takes hold of IT outsourcing customers. Being culture-oriented, these technologies often require the same coordination. However, when it comes to large-scale delivery, offshore will be the preferred mode, and onshore will be favored when it comes to easier coordination and alignment maintenance with clients. Moreover, the growth of onshore is being witnessed as outsourcing vendors have understood how crucial it is to be consistent, communicate professionally and capitalize on providing reliable resources. And, the expansion of offshore is due to the adequate credentials and expertise the offshore providers have. While offshore outsourcing remains a practical option for most firms due to high expertise, onshore outsourcing eradicates time management and cultural barriers, making it viable for others.What are your thoughts on onshore and offshore technologies? Let us know. Increased Technology OutsourcingCopyright © 2018 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof. E ERGYTech Review SEPT - OCT - 2018, Vol 02 - Issue 05 Published by ValleyMedia, Inc. To subscribe to Energy Tech ReviewVisit www.energytechreview.com SalesRich Gonsalvesrich@energytechreview.comVisualizersDavid ParkerManaging EditorCharlotte SmithE ERGYTech ReviewEDITOR'S DESKCharlotte SmithManaging Editoreditor@energytechreview.com*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEditorial StaffAaron Pierce Ava GarciaVian IsaacJoshua Parker Kenny Peruzzi
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