According to a report by Gartner, the global IT staff augmentation market is growing at a rate of 7.1% annually and will reach $88.9 billion by 2022. The report also states that the demand for IT staff augmentation is highest in North America, followed by Europe and Asia Pacific.
The IT staff augmentation market is driven by the need for organizations to access specialized skills and expertise, as well as the need to supplement in-house resources during periods of increased workload. Additionally, the use of staff augmentation can help organizations to reduce costs associated with full-time employees, such as benefits and overhead.
There are several factors to consider when selecting a staff augmentation partner, such as size and scale, industry expertise, geographic presence, and financial stability. Additionally, it is important to ensure that the partner has a robust delivery model in place, and can meet the specific needs of the organization.
As businesses strive to do more with less, IT staff augmentation has become a popular solution to help get the job done. By supplementing in-house staff with additional, highly skilled resources, businesses can complete initiatives more efficiently and cost-effectively. Here are five benefits of IT staff augmentation:
The Benefits of IT Staff Augmentation
1. Cost Savings
One of the biggest benefits of IT staff augmentation is the cost savings it can provide. When compared to hiring full-time employees, augmenting with staff on a project basis can save businesses up to 30% on labor costs.
2. Increased Efficiency
Another big benefit of IT staff augmentation is the increased efficiency it can bring to your organization. By supplementing your staff with additional resources, you can get projects completed more quickly and efficiently.
3. Access to Skilled Resources
When you augment your staff with IT professionals, you’ll have access to skilled resources that you may not have in-house. This can be especially beneficial for businesses that don’t have the internal resources to support certain initiatives.
4. Improved Quality
In addition to increased efficiency, IT staff augmentation can also improve the quality of your projects. When you have access to skilled resources, you can be confident that your projects will be completed to the highest standards.
5. Flexibility
IT staff augmentation also provides businesses with the flexibility to scale up or down as needed. This can be beneficial for businesses that have fluctuating needs or are working on short-term projects.
If you’re looking for a way to improve the efficiency and cost-effectiveness of your organization, IT staff augmentation may be the right solution. By supplementing your staff with additional resources, you can reap the many benefits of this cost-effective solution.
Trends To Rule 2024
If you’re considering staff augmentation for your business, here are some of the top trends to watch out for in 2024:
1. Cloud computing
Cloud computing is becoming increasingly popular, with more businesses moving to this model. This means that staff augmentation providers who are experts in cloud computing will be in high demand. The cloud infrastructure market is expected to grow from $545.8 billion in 2022 to $1,240.9 billion by 2027. It is necessary to leverage this mammoth tech in the best possible way. This is where a partner like Orion eSolutions can help.
2. Artificial intelligence (AI)
Businesses are starting to use AI for tasks such as customer service, marketing, and even sales. AI is exhibiting an astonishing growth, followed by rapid and aggressive adoption. It is expected to take off from $387.45 billion in 2022 to $1394.30 billion in 2029 at a CAGR of 20.1%.
3. Internet of Things (IoT)
IoT is another area that is growing in popularity. IoT devices are becoming more and more common, with businesses using them for a variety of purposes. Interconnected tech and smart homes are becoming increasingly common. Thus, it is inevitable that businesses try to capitalize on this before saturation occurs. And saturation is occurring as we speak. The IoT magnificence is growing from $478.36 billion in 2022 to $2465.26 billion by 2029, at a CAGR of 26.4%.
4. Blockchain
Blockchain is being used for a variety of purposes, such as financial transactions, supply chain management, and even identity management. The blockchain market is skyrocketing with various new players coming into the spectrum. The global market was at a value of $4.9 billion in 2021 and projected to reach $67.4 billion by 2026, after experiencing 68.4% CAGR in the estimate period.
5. Cybersecurity
With the increase in cyberattacks, businesses are starting to invest more in cybersecurity. With security breaches increasing by 27.4% and enterprises suffering from 130 security breaches annually, an integrated approach to cybersecurity is necessary. And this must remain the top concern for any business going for IT staff augmentation activities.
Summing Up
These are just some of the top trends to watch out for in 2024. If you’re considering staff augmentation for your business, make sure to choose a provider that has expertise in the areas that are most relevant to you.
Enter Orion eSolutions. Our approach is tailored to match your business in the most suitable manner. We undertake a Design Thinking approach to acknowledge the exact gaps in your force and how best to bridge the recess. Get in touch, today.
