NEW YORK, July 18, 2024 /PRNewswire/ -- The global call
center outsourcing market size is estimated to grow by
USD 25.9 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of over 4.37% during the forecast period. Rise of
emerging countries as call center destinations is driving
market growth, with a trend towards increase in m and a
and strategic alliances among vendors. However, increasing
cost of call center outsourcing services poses a challenge.
Key market players include 247.ai Inc., Alorica Inc., Atento SA,
Bertelsmann SE and Co. KGaA, Computer Generated Solutions Inc.,
Continuum Global Solutions LLC, Datacom Group Ltd., DiRAD
Technologies Inc., Epicenter Technologies Pvt. Ltd., Five9 Inc.,
Helpware Inc., Hinduja Global Solutions Ltd., Infosys Ltd., Serco
Group Plc, StarTek Inc., Sutherland Global Services Inc., Tata
Consultancy Services Ltd., Teleperformance SE, Transcom Holding AB,
and XACT Acquisition LLC.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
End-user (IT and
telecom, BFSI, Healthcare, Retail,
and Others), Type (Inbound and Outbound), and
Geography (North America, Europe, APAC, South
America, and Middle East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America,and
Middle East and Africa
|
Key companies
profiled
|
247.ai Inc., Alorica
Inc., Atento SA, Bertelsmann SE
and Co. KGaA, Computer Generated Solutions Inc.,
Continuum Global Solutions LLC, Datacom Group
Ltd., DiRAD Technologies Inc., Epicenter
Technologies Pvt. Ltd., Five9 Inc., Helpware Inc.,
Hinduja Global Solutions Ltd., Infosys Ltd., Serco
Group Plc, StarTek Inc., Sutherland Global
Services Inc., Tata Consultancy Services Ltd.,
Teleperformance SE, Transcom Holding AB, and
XACT Acquisition LLC
|
Key Market Trends Fueling Growth
The call center outsourcing market is witnessing intense
competition among vendors, leading them to form strategic
partnerships and acquisitions with various market players. These
collaborations enable vendors to expand geographically and gain
access to technological expertise. In May
2023, Atento opened its first call center in the Philippines at the Iloilo Business Park,
marking its entry into the country. NobelBiz expanded its cloud
contact center ecosystem with the introduction of OMNI+ Awaken
Scripting, a user-friendly scripting tool that reduces costs and
enhances operational efficiency. In June
2022, Majorel Group Luxembourg SA and Sitel merged to create
a new global leader in the customer experience industry.
Teleperformance acquired Health Advocate, Inc., a consumer health
management services provider, to expand its offerings. The
increasing number of strategic partnerships, acquisitions, and
collaborations is anticipated to positively impact the growth of
the global call center outsourcing market during the forecast
period.
The call center outsourcing market is experiencing significant
trends that are shaping the industry. Skilled labor is in high
demand for handling complex customer queries. Technological
progress, including AI, ML, automation, and blockchain technology,
is transforming call centers. Round-the-clock operations,
flexibility, and scalability are essential for businesses to meet
customer needs. Customer experience is a top priority, driving the
adoption of digital channels like multichannel services, social
media, messaging apps, and chatbots. Barriers to communication and
absence of control are concerns, but cloud-based solutions and
onshore/nearshore outsourcing offer potential solutions. Regulatory
compliance difficulties persist, particularly in sectors like
healthcare, government, and defense. Inbound, outbound, and
multilingual support services are common offerings from telecom and
IT companies. Subscription-based models and employee satisfaction
are also key considerations. Overall, the market is driven by the
need for high-quality service and the ongoing digital
transformation.
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Market Challenges
- Call center outsourcing is a business strategy that optimizes
process efficiency and enhances customer relationships for
companies. Outsourcing call center services helps reduce operating
costs and increase efficiencies, as vendors employ skilled
professionals to handle high volumes of customer calls. However,
the industry faces challenges such as high attrition rates,
averaging over 10%, due to the monotonous and stressful nature of
call center jobs. Agents may handle abusive customers and long,
irregular shifts, leading to health issues like stress, insomnia,
and hypertension. To maintain smooth workflows, call centers must
continually recruit and train new staff, adding to their costs. To
mitigate these challenges, third-party service providers are
adopting advanced technologies like voice bots and social media
management tools, as well as process automation tools such as AI
and RPA. Cloud computing investments are also on the rise. These
technologies simplify business processes and enhance productivity.
However, the ongoing investments required for technology, process
improvement, and infrastructure increase the cost of Business
Process Outsourcing (BPO), which may hinder market growth during
the forecast period.
- The call center outsourcing market faces several challenges in
today's business landscape. Skilled labor availability is a
significant concern, as is keeping up with technological progress.
Round-the-clock operations require flexibility and scalability,
while maintaining high customer experience is crucial. Digital
transformation brings opportunities with ML, automation, AI, data
analytics, and omnichannel assistance, but also introduces barriers
to communication. Service quality is key, but regulatory compliance
difficulties can be challenging. Inbound, outbound, and
multichannel services are common offerings, with telecom and IT
sectors leading the way. Onshore, nearshore, and offshore
outsourcing models each have their advantages and disadvantages.
Subscription-based models, employee satisfaction, and fundamental
skills are essential considerations. Barriers to entry include
absence of control, IT services, and industries like government and
defense, healthcare, and IT and telecom. Instant messaging
platforms, chatbots, messaging apps, social media, cloud-based
solutions, and cloud sourcing are transforming the industry.
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Segment Overview
This call center outsourcing market report extensively covers
market segmentation by
- End-user
- 1.1 IT and telecom
- 1.2 BFSI
- 1.3 Healthcare
- 1.4 Retail
- 1.5 Others
- Type
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 IT and telecom- The IT and telecom segment
holds a significant market share in the global call center
outsourcing industry. This growth can be attributed to the
increasing technological advances, substantial growth in data
traffic, and rising consumer demand for digital communication and
content. The telecom services sector is projected to experience
continuous growth with the emergence of 5G technology. Telecom
organizations are investing heavily in 5G, with estimates
suggesting 3.6 billion 5G connections by 2025, increasing to 4.4
billion by 2027. To concentrate on core offerings and reduce
turnaround time, IT and telecom companies outsource their customer
relationship management functions to call center providers.
Maintaining in-house call centers involves substantial investments
and human resources, as well as infrastructure complexities. As a
result, organizations in the IT and telecom sectors are
increasingly outsourcing customer query management and other
operations to call center companies. For instance, AT&T Inc., a
leading US-based telecom service provider, outsources its customer
support functions to three call center vendors: Teleperformance,
Alorica, and Convergys. The shift towards digital transformation
and the rise in communication channels necessitated by 5G
development are fueling the demand for call center services,
driving the growth of the IT and telecom segment during the
forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
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reports
The global healthcare BPO market is experiencing significant
growth due to increasing healthcare costs, regulatory changes, and
the need for efficient patient care. Outsourcing services like
billing, claims processing, and data entry to specialized providers
helps healthcare organizations reduce operational costs and improve
focus on core activities. Key players include Accenture, Cognizant,
and TCS. The global CCaaS market is booming, driven by the
rise in remote work and the need for scalable customer support
solutions. CCaaS platforms offer flexibility, advanced analytics,
and seamless integration with CRM systems, enhancing customer
experience. Leading providers include NICE inContact, Five9, and
Genesys.
Research Analysis
The Call Center Outsourcing Market is experiencing significant
growth due to the increasing demand for efficient and
cost-effective customer support solutions. Artificial intelligence
(AI) and Data analytics are transforming call centers, enabling
personalized customer interactions and predictive analytics.
Omnichannel assistance, multilingual support, and instant messaging
platforms are becoming essential, as customers prefer seamless and
convenient support across various channels. Chatbots and messaging
apps are also gaining popularity for their ability to provide
instant responses and reduce wait times. Technological progress,
such as Machine Learning (ML) and Automation, are enhancing call
center operations, providing round-the-clock services, and ensuring
flexibility and scalability. Customer experience is a top priority,
driving the adoption of digital transformation and offshore
outsourcing. Subscription-based models offer affordability and
predictable costs, while employee satisfaction remains a crucial
factor in ensuring high-quality services. Blockchain technology is
also being explored for its potential to enhance security and data
integrity.
Market Research Overview
The Call Center Outsourcing Market is experiencing significant
growth due to the increasing demand for efficient and
cost-effective customer support solutions. Artificial intelligence
(AI) and data analytics are transforming call centers, enabling
personalized customer experiences and improved service quality.
Omnichannel assistance, multilingual support, and instant messaging
platforms are becoming essential for meeting customer preferences
and expectations. Cloud-based solutions and cloud sourcing are
driving flexibility and scalability, while IT services find new
opportunities in sectors like government and defense, healthcare,
IT and telecom. Fundamental skills and skilled labor are crucial
for delivering high-quality services, but technological progress
poses challenges such as barriers to communication and regulatory
compliance difficulties. Inbound, outbound, and multichannel
services are common offerings, with telecom and IT companies
leading the way. Onshore, nearshore, and offshore outsourcing
models offer different advantages, while subscription-based models
provide flexibility. Employee satisfaction, machine learning (ML),
automation, and blockchain technology are shaping the future of
call center outsourcing.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- IT And Telecom
- BFSI
- Healthcare
- Retail
- Others
- Type
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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