ALBANY, N.Y., March 18, 2022 (GLOBE NEWSWIRE) -- The increasing trend of inbound and outbound multichannel customer services in various industries including BFSI, eCommerce, healthcare, and telecom industries. Emerging trend of browser-based call center software solutions are extending horizon for service providers in the call center outsourcing market. The global valuation is projected to reach US$ 145.73 Bn by the 2031, finds a TMR study.
The shift toward remote and hybrid working environment of businesses across various industries in recent years has unlocked a new revenue potential for firms in the call center outsourcing market to capitalize on. Furthermore, service providers are constantly enriching their offering with new technologies to cement customer relationship for their clients.
The trend of finding cost-effective innovative solutions for handling customer queries and managing customer relationships is enriching new possibilities in the call center outsourcing market. Of note, focus on solutions that help customers and clients gain a better control of the operations will open up new profitable avenues. Particularly, it has driven the prospect for cloud-based outsourcing services in the call center outsourcing market.
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Key Findings of Call Center Outsourcing Market Study
- Benefits of Outsourcing in Customer Relationship Management Bolstering Adoption: Business process outsourcing companies are changing the face of customer service industry on the back of relentless focus on delighting customers in both voice and non-voice category. Call center outsourcing services are gaining massive attention worldwide. The growing role of these services in improving customer relationship management is propelling their adoption in various end-use industries in call center outsourcing market. Service providers are expanding their technical expertise to serve their clients and customers in more effective ways.
- Demand for Outsourced Services in BFSI Industry Presents Enormous Avenue: Widespread demand for outsourcing services in the banking, financial services, and insurance industry has generated steady revenue gains to call center outsourcing companies over the years. The authors of the call center outsourcing market study by TMR assert that in the coming years also the massive demand potential in the BFSI industry is expected to bolster stable revenue streams. New advances in retail banking in developed nations have spurred the adoption of call center outsourcing services for payment services, general banking, and loan collection processes.
- Cloud Computing Models to Generate New Revenue Streams: Rapid pace of digitalization of business processes in the BFSI, IT & telecom, and retail & e-commerce in emerging economies has also driven the evolution, assert the analysts of this TMR study on the call center outsourcing market. Cloud-based platforms have gained rapid popularity over the years, and their adoption has spurred profitable opportunities. Cloud-based systems offer unique benefits of reduced overall cost of ownership, flexibility of upgrades, and responsiveness toward scalability of businesses, thus fueling the demand among customers in the call center outsourcing market.
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Call Center Outsourcing Market: Key Drivers
- Omnichannel customer support solutions broadly comprising emails, texts, live web chat, and social media has fueled customer propositions for call center outsourcing among small and medium scale enterprises.
- A growing number of businesses across enterprises are using inbound and outbound call center services to enrich and cement digital customer experience. This is catalyzing the demand for service providers in the call center outsourcing market.
Call Center Outsourcing Market: Regional Growth Dynamics
- North America is expected to hold a sizable share of the global call center outsourcing market during the forecast period, with the U.S. contributing more than 50% shares of this regional market. Rise in demand for inbound and outbound solutions has propelled revenue generation over the years.
- The Asia Pacific call center outsourcing market is expected to witness massive lucrative avenues during the forecast period. Proliferating number of call center outsourcing firms notably in India and China has bolstered the prospects.
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Call Center Outsourcing Market: Key Players
Some of the key players in the call center outsourcing market are:
- Cognizant
- WNS Global Services
- StarTek Inc.
- Sitel Group
- Teleperformance SE
- Tech Mahindra
- Tata Consultancy Services
- Hinduja Global Solutions Ltd.
- HCL Technologies
- Flatworld Solutions Pvt. Ltd.
- Capgemini SE
- Concentrix
- Atento
- Accenture PLC
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Global Call Center Outsourcing Market: Segmentation
Call Center Outsourcing Market, by Type
- Inbound Service
- Outbound Service
Call Center Outsourcing Market, by Service Type
- Email Support
- Chat Support
- Voice Support
- Video Support
- Social Media Support
- Others
Call Center Outsourcing Market, by Enterprise Size
- Small & Medium Sized Enterprises
- Large Enterprises
Call Center Outsourcing Market, by End-user
- BFSI
- Retail & E-commerce
- Government
- IT & Telecom
- Healthcare
- Manufacturing
- Hospitality
- Others
Call Center Outsourcing Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa (MEA)
- South America
- Brazil
- Argentina
- Rest of South America
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