When it comes to software development locations everyone thinks eastern Europe or India. But over the past few years some countries have been moving at a really fast pace in the software world. Countries like Cambodia, Bangladesh, Myanmar, etc. are fast becoming big sources of software development talents. Looking at the top 5 software companies in Bangladesh, for example, tell you how much the software industry has grown in these countries.
With a large number of IT graduates coming out every year in these countries and with an increasingly tech savvy younger generation there is huge potential for improvement and growth. It is very likely that these new destinations will take over the top spots for software development and innovation in the near future. Here are 3 top players that you should know about.
Bangladesh
The software development industry is one of the fastest growing sectors in Bangladesh. And in a country with 120 million people that means a huge level of talent growth year on year. With many world class software companies in Bangladesh starting up over the past decade the country has been showing phenomenal growth as high as 40% overall. This level of growth has led to expansion of all areas of software and broader IT enabled service. IT outsourcing was the key area for software development, but now new startups and software products targeting a variety of sectors have been growing and outpacing the services sector.
It is estimated that more than 10,000 software and IT related graduates become available in the job market every year in Bangladesh. With this large influx of graduates and the fast pace of growth of the industry it is only logical that Bangladesh will soon become a major destination for software and IT enabled services.
Colombia
Colombia is actually far ahead in its journey in becoming the next big IT destination. With more than 62,000 software developers and IT professionals already in the industry and with initiatives that will train a large number of new professionals every year it is a powerhouse for software development and IT enabled services. The country has an exciting software startup scene with robust investment structures and support from the government. More than 300 software startups are operating in the country with some being extremely successful. This startup ecosystem ensures that fresh talents have enough opportunities to stay in the country and grow their careers thereby growing the IT services industry.
Philippines
The Philippines is well known as a great BPO destination but it is also very strong in software development. The growth in software development services has been significant over the last few years. With the market competitiveness, English speaker availability and good software background the country is likely to be the next big software destination. Compared to its competitors in the region like Vietnam, a major benefit that Philippines have is its cultural and western-accent similarities especially with the US. This natural dynamic is adding momentum to the software industry in the country and creating a positive feedback loop for growth and maturity in its offering.