NEW YORK, United States, March 21, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “CRM Outsourcing Market By Services (Telemarketing Services, Order Management Services, Customer Services, And Technical Support Services), By End-User Industry (BFSI, Healthcare, Utility, Travel & Hospitality, Retail, Government, Manufacturing, Insurance, And Education), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global CRM Outsourcing Market size & share in terms of revenue was valued at USD 13.2 billion in 2022 and it is expected to surpass around USD 32.1 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.20% during the forecast period 2023 to 2030.”
What is CRM Outsourcing? How big is the CRM Outsourcing Industry?
CRM Outsourcing Report Coverage & Overview:
Outsourcing is when a company hires a different company to handle the day-to-day operations of its customer relationship management (CRM) system. There has been a rise in the need for high-quality CRM activities, and one option that has emerged is the outsourcing of such tasks. In addition, CRM outsourcing operations have shown to be a dependable and essential service that helps meet the rising demands for conventional CRM tasks and the rising expenditures that come with them. Because of the proliferation of new service options made possible by social media and other forms of modern communication, the customer relationship management (CRM) sector is undergoing a fundamental transition. In addition, CRM functions provide end-users and employees with adaptability. Because of this, the need for CRM outsourcing services has skyrocketed.
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- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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Global CRM Outsourcing Market: Growth Dynamics
The growing acceptance of CRM outsourcing services as a result of its advantageous features is anticipated to drive the expansion of the global market from 2023 to 2030.
The enormous expenses associated with providing in-house customer assistance and administration have led to an increase in the demand for CRM outsourcing activities, which is driving the expansion of the global market for CRM outsourcing. Global market trends have been driven by the significant demand to improve the automation of customer relationship management (CRM) activities with the intention of boosting the operational efficiency of the processes. The growth of the CRM outsourcing market on a global scale will be driven in the years to come by the widespread acceptance of CRM outsourcing solutions, which will be driven by the high competitiveness of these solutions, the optimization of sales operations, and the reduction in operating expenses. In addition to this, innovations in big-data-driven CRM systems have supported businesses in catering to enormous data volumes while simultaneously improving the experience provided to end users, which has led to an expansion of the market sector.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 32.1 billion |
| Projected Market Size in 2030 | USD 32.1 billion |
| CAGR Growth Rate | 5.20% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Dell, Inc., Xerox Corporation, HCL Technologies Ltd., Allscripts Healthcare Solutions, Inc., Concentrix, Aegis, Anthelio Healthcare Solutions, Wipro Limited., Siemens AG, Infosys Limited, Mckesson Corporation, AMDOCS, IBM Corporation, Tata Consultancy Services Ltd., Hewlett-Packard Company, Cognizant Technology Solutions, and Accenture PLC. |
| Key Segment | By Component, By Type, By Vertical, By Organization Size, By Service, And By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
CRM Outsourcing Market: Segmentation Analysis
The global CRM outsourcing market is divided into services, end-user industry, and region.
In terms of services, the CRM outsourcing market globally is segmented into telemarketing services, order management services, customer services, and technical support services segments. Furthermore, the customer services segment is predicted to account for the largest market share over the assessment timeframe. The segmental expansion can be attributed to the need for improved after-sales services along with the need for increasing earnings.
On basis of end-user industry, the CRM outsourcing industry across the globe is bifurcated into BFSI, government, healthcare, utility, insurance, travel & hospitality, retail, manufacturing, and education segments. Moreover, the BFSI segment is anticipated to dominate the end-user industry landscape over the upcoming years. The segmental expansion can be owing to the penetration of CRM solutions for improving operations across the BFSI segment. With the rise in the outsourcing of CRM functions and other repetitive tasks of the banking sector of developed countries to the firms in emerging economies such as India and the Philippines, the market for CRM outsourcing is likely to gain traction, with the BFSI segment contributing majorly towards the industry growth.
The global CRM Outsourcing market is segmented as follows:
By Component
- Solution
- Services
By Type
- Fixed
- Mobile
By Vertical
- Transportation & Logistics
- Retail
- Healthcare & Lifesciences,
- Government & Defense
- BFSI
- Media & Entertainment
- Industrial Manufacturing
By Organization Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Service
- Deployment and Integration Services
- API Management and Testing Service
- Support and Maintenance Services
- Consulting & Advisory Services
Browse the full “CRM Outsourcing Market By Services (Telemarketing Services, Order Management Services, Customer Services, And Technical Support Services), By End-User Industry (BFSI, Healthcare, Utility, Travel & Hospitality, Retail, Government, Manufacturing, Insurance, And Education), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/crm-outsourcing-market
Competitive Landscape
Some of the main competitors dominating the global CRM Outsourcing market include -
- Dell Inc.
- Xerox Corporation
- HCL Technologies Ltd.
- Allscripts Healthcare Solutions Inc.
- Concentrix
- Aegis
- Anthelio Healthcare Solutions
- Wipro Limited.
- Siemens AG
- Infosys Limited
- Mckesson Corporation
- AMDOCS
- IBM Corporation
- Tata Consultancy Services Ltd.
- Hewlett-Packard Company
- Cognizant Technology Solutions
- Accenture PLC.
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the CRM Outsourcing market is likely to expand at a CAGR of around 5.20% during the forecast period (2023-2030).
- In terms of revenue, the CRM Outsourcing market size was valued at around US$ 13.2 billion in 2022 and is projected to reach US$ 32.1 billion by 2030.
- The global market is anticipated to record massive growth over the forecast period with huge costs of in-house customer support and management has resulted in demand for CRM outsourcing activities
- Based on services, the customer services segment accounts for the major market share over the forecast period
- In terms of the end-user industry, the BFSI segment is predicted to account for a major share of the global market during the analysis timeframe.
- Region-wise, the Asia-Pacific CRM outsourcing market is projected to contribute majorly towards the global market share over the assessment timespan.
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Key questions answered in this report:
- What is the market size and growth rate forecast for CRM Outsourcing industry?
- What are the main driving factors propelling the CRM Outsourcing Market forward?
- What are the leading companies in the CRM Outsourcing Industry?
- What segments does the CRM Outsourcing Market cover?
- How can I receive a free copy of the CRM Outsourcing Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Component, By Type, By Vertical, By Organization Size, By Service, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
The CRM outsourcing market in the Asia-Pacific region is slated to acquire a major chunk of the global market share in the coming years. Furthermore, the regional market surge in the forthcoming timespan is subject to an increase in outsourcing of various CRM processes by firms of developed countries of Europe, Australia, and North America to Asian countries such as India and the Philippines. Moreover, the Philippines and India are the key offshoring and call center destinations of the Asia-Pacific zone and this is likely to create new growth opportunities for the CRM outsourcing market in the region.
Furthermore, the CRM outsourcing industry in Europe is poised to register humungous growth in the coming years. The growth of the industry in the continent can be due to the rise in the use of digital systems by small-sized and mid-sized firms in the countries such as the UK, Germany, Italy, France, Luxembourg, Norway, Finland, Sweden, and Estonia. Furthermore, these European countries require modern analytical systems and upgraded CRM solutions, thereby generating huge demand for outsourcing CRM solutions to the firms of emerging countries. This, in turn, will contribute majorly toward the size of the CRM outsourcing industry in the region.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Recent Developments
- In February 2023, Atento S.A., a global provider of business process outsourcing and customer relationship management services, declared that it reached an agreement with current investors for creating additional finances for the firm. The move will help in the swift expansion of the CRM outsourcing business in Spain and across Europe.
- In March 2023, Arvato CRM Solutions, a UK-based player offering customer & back-office processing services, decided to expand its CRM business in South Africa with the help of Techsembly, an e-commerce platform firm. The initiative will assist the firm in expanding its business portfolio in Africa, thereby increasing its revenue gains.
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FREQUENTLY ASKED QUESTIONS
- What is CRM Outsourcing?
- Which key factors will influence global CRM outsourcing market growth over 2023-2030?
- What will be the value of the global CRM outsourcing market during 2023-2030?
- What will be the CAGR value of the global CRM outsourcing market during 2023-2030?
- Which region will record the highest growth in the CRM outsourcing industry globally?
- Which are the major players leveraging the global CRM outsourcing market growth?
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