Which one is better "In-house software development team" or "Software Outsourcing"?

This mainly depends3 factors,1.Time2. Cost and3.In-house Talents. If you have in-house talents and the outsourcing cost is very high then recommendation is in-house development.As, you can reduce the support cost and time as well. But, most of the in-house development will take  more time to develop and deploy the application.

The answer is this question is dependent of a few factors. Here are some for example:

1. Whether the required competencies reside "in-house"
2. What are the potential negative risks or opportunity costs of doing it "in-house"
3. Will outsouring expose any of my competitive (VRINE) resources to misappropriation or disclosure?
4. What is the comparative capital outlay for both options?