The economic prospects of Europe and the United States in the third quarter under the epidemic situation are hardly optimistic. The resumption of work and production not only brought economic data back, but also triggered a rebound in the epidemic situation. At present, the United States is still the 'epicenter' of the global epidemic.

The total number of confirmed cases has exceeded 4.8 million, and the epidemic situation in some European countries has also rebounded. Affected by this, more than 20 states in the United States have announced the suspension or withdrawal of part of the economic restart plan. Britain and Italy have also decided to extend the state of emergency. The rebound of the epidemic situation has posed considerable risks to the economic prospects of Europe and the United States.

In the second quarter of this year, US GDP shrank by 9.5% on a month on month basis, or 32.9% at an annual rate, the largest decline since the 1940s. Data show that the sharp decline in personal consumption is the main drag on the U.S. GDP growth in the second quarter.

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Compared with the United States, Europe's economic contraction in the second quarter was smaller, but it was also the lowest on record, with Germany and France contracting more than 10%. According to the data released by the Federal Bureau of statistics, Germany's GDP fell by 10.1% in the second quarter after adjusting for prices, seasons and working days, the largest decline since the quarterly economic data were available in 1970.

Thanks to the effective control and policy support of the new epidemic, China's economy rebounded sharply in the second quarter. The growth rate of manufacturing industry, which accounted for about 28% of GDP, rebounded sharply to 4.4% from the negative value in the first quarter. Chinese original equipment manufacturers (OEMs) and suppliers are ramping up production. And there are increased investments in digital footprints in manufacturing. OEMs in other parts of the world are offering incentives to drive sales. XYZResearch published a report for global Offshore Software Development market in this environment.

In terms of revenue, this research report indicated that the global Offshore Software Development market was valued at USD XXX million in 2019, and it is expected to reach a value of USD XXX million by 2026, at a CAGR of XX % over the forecast period 2021-2026. Correspondingly, the forecast analysis of Offshore Software Development industry comprises of China, USA, Japan, India, Korea and South America, with the production and revenue data in each of the sub-segments.

The Binariks aims at producing XX Offshore Software Development in 2020, with XX % production to take place in global market, Intellias accounts for a volume share of XX %.

Regional Segmentation (Value; Revenue, USD Million, 2015 - 2026) of Offshore Software Development Market:-
China
EU
USA
Japan
India
Southeast Asia
South America
Competitive Analysis; Who are the Major Players in Offshore Software Development Market?
Binariks
Intellias
Voyant Consultancy Services
Syberry
Parrolabs
Belitsoft
CredibleSoft
Switch Software Solutions
Tudip
Attract Group
lyra
Decipher Zone Softwares
Sirin Software
Exposit
Berg Software
...
Major Type of Offshore Software Development Covered :-
On-premise
Cloud Based
Application Segments Covered:-
Large Enterprises
SMEs
Application 3

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