Call Center Outsourcing Market by End-users and Geography - Global Forecast & Analysis 2022-2028
Global Call Center Outsourcing Market: About this market
call center outsourcing market analysis considers sales from IT and telecom, BFSI, healthcare, retail, government, and other end-users. Our study also finds the sales of call center outsourcing in APAC, Europe, North America, South America, and MEA. In 2018, the IT and telecom segments had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing technological advances and growth in data traffic will play a significant role in the IT and telecom segments to maintain its market position. Also, our global call center outsourcing market report looks at factors such as the focus on reducing operating costs, increasing use of RPA in call centers, and rise of emerging countries as call center destinations. However, growing security concerns, limitations of outsourcing call center operations, and low employee engagement and shut down of call centers may hamper the growth of the call center outsourcing industry over the forecast period.
Global Call Center Outsourcing Market: Overview
Growing focus on reducing operating costs
It is crucial for organizations to maintain a good relationship with their customers and offer better customer support services to stay competitive and ensure revenue growth. Vendors in the market have started outsourcing call center services and operations to improve and ensure revenue growth. If an organization manages a call center facility in-house, it must invest in infrastructure, manage the workforce, and offer training to new employees, all of which can lead to 50%-70% additional costs. With outsourced services, organizations need not invest in resources or be concerned about managing limited available resources. This focus on reducing operating costs will lead to the expansion of the global call center outsourcing market at a CAGR of over 3% during the forecast period.
Increasing adoption of cloud communication in call centers
The adoption of cloud computing is rising globally, owing to the flexibility and cost benefits of cloud services. Cloud-based solutions help organizations save and reduce their overall capital expenditure (CAPEX). Organizations can subscribe to cloud services on a pay-as-you-go basis. As cloud solutions offer numerous benefits such as providing personalized services, routing liquifies effectively, and solving problems, call center organizations have started adopting cloud-based offerings. Cloud-based call centers are flexible as they can quickly adapt to the changing business needs and can be integrated with third-party applications through an application programming interface (API) framework. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global call center outsourcing market during the forecast period 2019-2023, click here.
With the presence of several major players, the global call center outsourcing market is moderately fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading call center outsourcing manufacturers, that include Atento S.A., Bertelsmann SE & Co. KGaA, Concentrix Corp., Hinduja Global Solutions Ltd., Sitel Group, StarTek Inc., Sykes Enterprises Inc., Teleperformance SE, Transcom WorldWide AB, and TTEC Holdings Inc.
Also, the call center outsourcing market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
call center outsourcing market analysis considers sales from IT and telecom, BFSI, healthcare, retail, government, and other end-users. Our study also finds the sales of call center outsourcing in APAC, Europe, North America, South America, and MEA. In 2018, the IT and telecom segments had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing technological advances and growth in data traffic will play a significant role in the IT and telecom segments to maintain its market position. Also, our global call center outsourcing market report looks at factors such as the focus on reducing operating costs, increasing use of RPA in call centers, and rise of emerging countries as call center destinations. However, growing security concerns, limitations of outsourcing call center operations, and low employee engagement and shut down of call centers may hamper the growth of the call center outsourcing industry over the forecast period.
Global Call Center Outsourcing Market: Overview
Growing focus on reducing operating costs
It is crucial for organizations to maintain a good relationship with their customers and offer better customer support services to stay competitive and ensure revenue growth. Vendors in the market have started outsourcing call center services and operations to improve and ensure revenue growth. If an organization manages a call center facility in-house, it must invest in infrastructure, manage the workforce, and offer training to new employees, all of which can lead to 50%-70% additional costs. With outsourced services, organizations need not invest in resources or be concerned about managing limited available resources. This focus on reducing operating costs will lead to the expansion of the global call center outsourcing market at a CAGR of over 3% during the forecast period.
Increasing adoption of cloud communication in call centers
The adoption of cloud computing is rising globally, owing to the flexibility and cost benefits of cloud services. Cloud-based solutions help organizations save and reduce their overall capital expenditure (CAPEX). Organizations can subscribe to cloud services on a pay-as-you-go basis. As cloud solutions offer numerous benefits such as providing personalized services, routing liquifies effectively, and solving problems, call center organizations have started adopting cloud-based offerings. Cloud-based call centers are flexible as they can quickly adapt to the changing business needs and can be integrated with third-party applications through an application programming interface (API) framework. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global call center outsourcing market during the forecast period 2019-2023, click here.
Competitive Landscape
With the presence of several major players, the global call center outsourcing market is moderately fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading call center outsourcing manufacturers, that include Atento S.A., Bertelsmann SE & Co. KGaA, Concentrix Corp., Hinduja Global Solutions Ltd., Sitel Group, StarTek Inc., Sykes Enterprises Inc., Teleperformance SE, Transcom WorldWide AB, and TTEC Holdings Inc.
Also, the call center outsourcing market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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