The development and usage of new and innovative technologies have almost always been considered the domain of established markets such as the United States, Canada and Japan, with Silicon Valley, New York and Toronto having headquartered some of the most cutting-edge tech start-ups, web development platforms and IT companies we have seen in recent decades – but times are changing, and fast. While the rest of the world, and in particular developing countries, have generally been overlooked due to their sluggishness to develop sufficient infrastructure to support high-tech hubs, it is in exactly these countries that we are seeing unprecedented and massive growth in the number of software development companies springing up.
Take India, for example. Coined the ‘only true competitor’ of Silicon Valley thanks to its appetite for innovation, sheer size of the workforce, massive market and fast consumer adoption rate, it has outstripped every country in the developed world as a high-tech hub, proving that the business of web development truly is borderless. In the country, you will find Evince – a web and mobile development company headquartered in Chennai; Digitalideaz – a world-class web designing company based in Delhi and other major cities in India; Prateek Technosoft – a web application development company headquartered in Chennai with regional offices in Delhi and Chicago; the list goes on.
The flexible nature of the industry enables markets around the world to take advantage of its momentum. Part of what makes the industry so attractive and successful is the low barrier to entry it presents to new businesses – one can start a web company from almost any corner of the earth, provided the Wi-Fi signal is good.
The tech industry is not only a driver of social good in that it creates employment and is highly profitable – but its products and services also lower barriers, leading to the reduction of poverty, improved standards of living, and the connection of people in rural areas to financial and welfare systems they had previously not had access to. It’s no wonder emerging markets are grabbing hold of the tech sector as a means of transforming the economy. The industry is incredibly fast moving and competitive – meaning the brightest tech minds are consistently poached by the world’s largest companies no matter where they are based – and the lower costs of living and rapidly increasing funding in developing countries are seeing a growing amount of tech talent relocating to the “less” developed world for opportunities.
Beijing is one example of a city in a developing country that has usurped Silicon Valley as the top technology hub in the world, according to Expert Market, a business resource company that listed the city as number one in 2017. Beijing was followed closely by Berlin and San Francisco, but Bangalore, Shanghai and Singapore also made the list. The reason it was considered the leading web and software development hub. The city’s affordable cost of living, growth index, start-up output, cost of getting a tech business up and running and software engineer salaries ranked favorably in comparison with all other cities. A little push by the Chinese government also helped: in 2016 it invested $1.5 billion into China’s tech sector development. Home to numerous tech successes, including Alibaba – which saw a 132 percent earnings increase last quarter – Tencent, Baidu and other Chinese equivalents of Amazon and Facebook, Chinese tech companies today hold significant market influence. Not only is China leading the way in terms of web development, it has also earned bragging rights for its growing global presence in terms of supercomputers, electric cars, e-commerce, messaging apps, smartphones, drones and cybersecurity products. The sheer size of the national market, together with favorable market conditions give China a unique advantage, setting it apart from the rest as a global tech leader.
It seems wrong to go on without paying further respect to the successes of India, touted the “fastest growing tech hub in the world”. According to a study led by NASSCOM, India was ranked the 3rd largest start-up ecosystem in the world with more than 100 accelerators, 200 active angels, 150 VCs and over 4,200 startups operating in the region. Home to some of the youngest founders in the world, with the average tech company founder a 28-year-old millennial, India’s start-ups are making unprecedented progress across the country: driving growth, creating jobs, increasing access to healthcare and other essential services and driving national development. Foreign investment is also helping drive growth in the sector: Indian start-ups have witnessed a massive increase in access to funding in recent years. In 2015, around $8.5 billion in funding was fed into startups across the country, with almost 1,000 deals sealed.
As more and more web design businesses spring up around the world, particularly in emerging economies, it will be the specialization and differentiation offered by such companies that will dictate long-term business success. Fortunately, the humanized design and services offered by such markets – many of which supersede those of companies located within the United States – will continue to drive their success and ensure well-designed, aesthetically-attractive, cyber-secure web products and services for clients as the result. The emerging world is on the forefront of innovation, entrepreneurship and technology, with the vast majority of web designers and developers seeing growth at a whopping 25 percent or more a year, with many seeing 50 percent or more. Ensuring, and funding, the training of web specialists in such markets will see developing countries continue to prosper from such growth in years to come, of that there is no doubt.
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