Bangladesh is a land of possibilities. Being the 8th largest population in the world this country has huge economic and societal progress, growing as a notable and reliable name in the Information and Communications Technology (ICT) industry. Government support, massive investments in human resources and infrastructures, and positive macroeconomic management are helping us to become a global offshoring center.
Bangladesh: Fastest Growing Economy
Since its independence in 1971, Bangladesh’s economy has transformed itself and is one of the fastest-growing economies in the world. The top international financial institutions have already projected that by 2030 we are going to be the 24th largest economy in the world. The Asian Development Bank’s recent report says – our GDP is expected to grow by 6.8% in 2021 and 7.2% in 2022. In the last couple of years, offshored software projects from Bangladesh have been doubling every year. We have achieved $5 billion in the ICT Industry revenue, with 2 million (growing) ICT professionals. In 2019, Bangladesh ranked 8th position on a CNBC article – Top 10 countries for freelancers.
Skilled Human Resource Development
Every year more than 500,000 university students are graduating, and 20,000+ CSE fresh graduates are joining the IT industry. The ICT ministry is providing tons of dedicated skill development training programs to help young professionals prepare to deliver world-class services. The Bangladesh Hi-Tech Park Authority is already building 28 high-tech parks nationwide and plans to increase this to 64 divisional technology hubs to help and train tech-based entrepreneurs. The government is actively working on training professionals in emerging technologies like– the Internet of Things, Blockchain, Artificial Intelligence, Big Data, and Analytics.
Government Support
In 2008 the government announced the “Digital Bangladesh Vision 2021” to make the nation stronger through effective use of modern technology. The ICT ministry is arranging various technical skill development courses for interested graduates. The government announced ICT as a ‘High Priority’ export industry and already authenticated export competitiveness by liberal FDI policies, flexible tax policies, investor protection, and infrastructural facilities. During the global COVID-19 Pandemic, the government announced funds to help local tech-based startups, IT & ITeS companies. “Despite the uncertainty created by COVID-19, the outlook for our economy is positive,” said Mercy Miyang Tembon, World Bank Country Director for Bangladesh.
Growing IT Export Rates
In Bangladesh, more than 120 companies export information and communications technology (ICT) products worth nearly $1 billion to 35 countries. There are more than 1087 software companies in Bangladesh. More than 700,000 IT freelancer communities are also contributing to the economy.
Infrastructure
Recent data shows, the total number of internet subscribers has reached 112.713 million in Bangladesh. In February 2018, We launched the 4G network service and targeting to enter the 5G in 2023. The power industry is also thriving, 99% of the population has access to electricity. Besides, Bangladesh is going through rapid progress in terms of building, roads, and transport infrastructure. So, online communication, time, electric power, and internet connections are not a problem right now in Bangladesh.
Language Benefit
Having two-thirds of the young English-speaking population with a world-class education system creates a high potential talent pool. These young graduates are proactive, hardworking, and tech-savvy, and they can communicate directly with clients.
Cost-Benefit
Keeping the highest service/product quality standard compared to countries like India, Pakistan, Sri Lanka, China, and the Philippines; Bangladeshi software companies are offering 30% – 40% less price for services and product development in terms of both human resource and infrastructure costs. Recent data by Accelarance Analysis 2021 shows worldwide software outsourcing rates. South Asia Region countries are charging $19 up to $75 per hour. Whereas, hiring a software developer from Bangladesh will usually cost you $15 up to $50 per hour depending on the project complexity, developer level, time, and negotiation.
Tech Giants
In May 2021 both global tech giants Google & Amazon registered for their business in Bangladesh. Companies like Huawei, Microsoft, Samsung, Oracle, and CISCO are already having offices in Dhaka. Software Engineers are working for companies like Facebook from Bangladesh.
Popular Services and Technologies
In today’s competitive market companies have a high demand for custom-made solutions to meet their specific needs. This growing market trend has inspired Bangladeshi software companies too. Leading custom software development companies are offering popular services as listed below-
1. Business Intelligence and Data Minning
2. Cloud-Based Solution Development
3. Native Android & iOS App Development
4. Progressive Web Apps Development
5. Software as a Service (SaaS) Development
6. Enterprise Application Development
7. SharePoint & Office 365 Application Development
8. System Analysis and UX/UI Design
9. Artificial Intelligence (AI) Based Application Development.
10. Software Testing and Quality Assurance, and many more.
Software developers are using popular and latest technologies like – .Net and Microsoft World, Angular, React, NodeJS – The Powerhouse of Software Development, Cross-platform and Hybrid Deployment, Big Data Analytics, Cloud-Based Solutions, JAVA, Kotlin, and Scala, and many more.
There are many software developments companies in Bangladesh that can create excellent software solutions. Only a few of the many software companies have unique and unmatched skills. Like, iXora Solution Ltd. an offshore custom software development company has been a trustworthy name in the industry since 2013. iXora is providing solutions to more than 10 different countries globally including the USA, Canada, Europe, Japan, and the Middle East.
Bangladeshi offshore custom software development companies have the caliber to achieve excellence. They are professional, well-trained, affordable, and skilled. So, when it comes to quality work, and data-driven solutions that can improve efficiency, you should consider Bangladesh as your first choice for an offshore custom Software Development destination.
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