When the company's business is virtual business it is efficient to outsource services and keep a reduced size team to integrate the services of the service providers, it helps with minding the business. Developing in-house software applications diversifies the business by increasing the concerns of business to run with concerns about the development and operation of the support applications along with the concerns about the business to run. Outsourcing it is a way to stay afloat, survive, pick low hanging fruits by disposing the burden of infrastructure.
With a business beyond the virtual boundaries might be wiser to develop in-house infrastructure since business exists thanks to the real world infrastructure. Software development could start with a team developing the business applications and evolve to maintaining the development and operational infrastructure, cybersecurity, data mining, forecasting and so on.
In the end it is about short, medium and long term objectives.