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Ukraine is a trending software development country

Ukraine is a trending software development country

November 7, 2019
by Andriy Bordun

The global trend of recent years has shown us that finding an offshore software development partner is the most reliable way to preserve competitiveness, reduce labor costs and increase the speed of work. It has been estimated that in the twenty-first century around trillions of dollars have been spent on outsourcing. Ukraine is now one of the leading countries among those providing software development services. Ukrainian IT market keeps growing and is to reach $8.4 billion by 2025, showing that the industry is flourishing without ceasing.

So, how to invest your money successfully and is Ukraine s reliable software development country?

China is not the only pebble on the beach

To think of China as the best possible location for IT outsourcing is the common mistake modern companies make, as they are often required to give up majority ownership to the Chinese partner. Furthermore, the distance and time difference plays a crucial role in working with an offshore software development partner, as it involves regular meetings to make sure your project is going well. The time difference between the USA and China is approximately 16 hours, while between the USA and Ukraine it’s around 7 hours.

Educational institutions

The level of education of a country’s citizens can tell a lot about the quality of services it offers. With the literacy rate of 99,8%, as to 2015 statistics, over 70% of Ukrainians have a secondary or higher education. 1,6 million students are currently studying in 661 higher educational institutions. As to the impressive Ukraine development in the IT outsourcing market in recent years, the high demand for strong tech education appeared. Universities invest in engineering faculties and STEM programs, while IT companies launch new programs every year to educate new specialists.

Educational institutions

Safety and data insurance

Security policies, procedures and technical safeguards used by your partnering outsource company must be on the high level. Software engineering in Ukraine is on the top places among other countries with the best developers in respect of security according to HackerRank. To keep the data safe Ukrainian outsource companies use basic security procedures as office security, security awareness training for employees, data protection and protection of intellectual property.

Ukraine is a country carrying strong potential.

The main challenges and uncertainties are left behind. The Ukrainian economy is stable as well as security elements of the state. Ukraine is a young, democratic country being on its ascending stage of growth and development.

IT Company Statistics

Thanks to dynamic Ukraine development, over 1,600 software development service companies currently operate in the country. They are divided into IT outsourcing companies, IT product companies, and captive centers of global business. Therefore, choosing an outsourcing company in Ukraine can be quite challenging.

IT company statistics

Examine the vendor’s portfolio and make sure that their previous experience meets your expectations in the matter of quality and style. Visiting some popular review platforms like Clutch, AppFutura and others might help you, as they provide customers with feedback about different IT outsourcing offshore software development companies. To be on the safe side, look for well-known industry awards that the company possesses such as Global Outsourcing 100, GSA UK Awards, IT Europa Award, etc.

Projects and partners

If to look through the Fortune 500 list of the most impactful companies, we will find out that more than 100 representatives are customers of the Ukrainian IT outsourcing business. Such worldwide known companies as IBM, CISCO, Grammarly, Netcracker, Lebara, Audi, Volvo, Siemens, and many others have been loyal clients of software engineering in Ukraine for years.

Projects and Partners

Growth Opportunities

A vibrant tech community is flourishing in Ukraine. IT events and festivals like IT Arena, iForum and Agile Eastern Europe Conference are held annually. Such tech events unite IT professionals from all over the world allowing exchanging experiences. The biggest of such conferences host up to 10,000 attendees, including international speakers from global cooperations.

growth opportunities

Wrapping Up

Ukraine’s outsourcing rates stand out among the global competition due to highly skilled professionals, geographical location, large experience in offshore software development because of the cooperation with behemoths of the world market and competitive prices. Software engineering in Ukraine is constantly developing, demonstrating a steady growth of 11-26% annually. If you are currently thinking about hiring an outsource vendor, Ukraine’s IT market is one of the best, you can opt for. Don’t hesitate to contact InVerita for further information.

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