Outsourced Customer Care Services Market to hit $110bn by 2024
Published Date: May 30, 2017 Authors: Preeti Wadhwani, Saloni Gankar
Outsourced Customer Care Services Market size is set to exceed USD 110 billion by 2024; according to a new research report by Global Market Insights, Inc.
The outsourced customer care services market is expected to witness steady growth over the forecast timeline, owing to the increase in inclination of organizations towards serving the consumers in the most optimum way. Growing trend of omni-channel retailing is enabling the businesses to mark their presence across multiple channels such as chat, web, voice, and social media. Rising need to integrate the channels to empower the users and boost their confidence through congruent customer experience may propel the outsourced customer care services market size. Additionally, implementation of robotic process automation (RPA) in customer care services is trending among the companies to enable them to improve operational efficiency.
Businesses face challenges in terms lack of expertise provided by the customer care services. To overcome this, they are increasingly focusing on choosing an outsourcing partner with extensive experience in the industry the client is serving, enabling the partner to deal effectively with common issues and challenges.
Factors such as language barriers, currency exchanges, and international laws are expected to hamper the outsourced customer care services market growth in countries including India and Philippines. Furthermore, businesses are looking for feasible near-shore service providers. For instance, businesses in the U.S. outsource call center services to countries including El Salvador and Chile. Near-shoring in the outsourced customer care services market is expected to gain momentum in the Eastern Europe as it is becoming more attractive in the UK and Germany. In these countries, it is the most attractive option realized by more skill specific businesses with complex and high-end operations, as they realize the value of keeping the outsourcing process near to the business. This enables the companies to receive multichannel, state-of-art, and multi-lingual services cost-effectively.
Browse key industry insights spread across 120 pages with 31 market data tables & 17 figures & charts from the report, “Outsourced Customer Care Services Market Size By Service (CRM Technology Hosting, Fulfillment/Logistics, Customer Interaction), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Czech Republic, Poland, Spain, China, India, Japan, Philippines, Australia, Mexico, Brazil, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
The CRM technology hosting services demand is expected to grow in near future, which is attributed to the demand for low cost services by the enterprises. CRM services offer flexible solutions for various configuring options and enabling customers to use the features that suit the exact requirements. In addition, the enterprises are hesitant to shift the services to new multi-channel modes of communication which drives the adoption of CRM services in the enterprise.
Rising focus of companies on improving customer service interactions at every touchpoint, especially contact centers is anticipated to drive the outsourced customer care services market. The significant levels of interaction are crucial to organizations focused on meeting critical revenue targets and customer retention goals. The service has taken on high strategic value as it helps organizations to interact with clients on an ongoing basis and differentiate themselves from the competition.
Players operating in the outsourced customer care services market include Synnex Corporation, Aegis, Accenture, Amdocs, Expert Global Solutions, StarTek, Convergys Corporation, Transcom Worldwide, Infosys Limited, etc. In 2015, Convergys Corporation announced its collaboration with Nexidia, a customer interaction analytics technology solutions provider. The partnership combines Convergys’ analytics know-how solution with Nexidia’s advanced speech analytics technology to enable a focused insight. Various companies in the outsourced customer care services market are anticipated to enter collaborations to gain the regional presence which will help them to improve their suite of services.
Outsourced customer care services market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:
Outsourced Customer Care Services Market, By Service
- CRM Technology Hosting
- Customer Interaction
The above information is provided on a regional and country basis for the following:
- North America
- Czech Republic
- Asia Pacific
- Latin America
- Middle East
- South Africa