Global Contact Center Outsourcing Market research report assesses market demand and scenario over the period from 2015 to 2025. The report highlights the historic trends and the 2019 to 2025 market forecast. The report studies both at global and country level the current status and future market prospects. The global contact center outsourcing market is segmented by service type, application, industry, and geography.
The report also throws light on various aspects of the global contact center outsourcing industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the global contact center outsourcing industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
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Contact center outsourcing (“CCO”) is an integral operational component of service companies. CCOs handle a range of critical functions, including technical support, telemarketing, customer service, and debt collection. Contact center operations are utilized across numerous businesses, from insurance and financial services to technology and telecommunications.
The major players of Global Contact Center Outsourcing Market include IBM, HP, Teleperformance SA, Xerox Corporation, CGS Inc., HGS, Datamark, Inc., Infinit Contact, Five9 Inc., VADS, Alorica, Invensis, Transcosmos, Convergys, Arvato, Sykes Enterprises, and Atento.
Global Contact Center Outsourcing Market was valued at USD 88.62 Billion in 2018. The major drivers of this market include companies which aim to solely focus on core business functions as it saves their costs, hiring, and infrastructure. Other factors that have equal contribution includes, the in-house contact center may have idle agents during non-peak periods and wasted human resource, which could be avoided by outsourcing. Companies possessing deep knowledge in a particular domain can take help of these outsourcing companies for other domains. Another key factor is contemporary demand from companies for multi-lingual experts driving the outsourcing market as it reduces the overall cost per client.
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On the basis of types, global contact center outsourcing market is segmented into BFSI, retail, government, it & telecommunications, defense & aerospace intelligence, manufacturing, and others. IT & Telecommunications segment attained a value of USD 46.15 billion in 2018 and is likely to maintain the upward graph in the forecast period. Based on the service type, the market includes categories: Email support, chat support, voice, website support, and others. Voice segment leaded service type segment by obtaining a value of USD 60.62 Billion in 2018 at 4.22 % CAGR during the forecast period. Based on the applications, the global contact center outsourcing market is divided into Customer Relationship Management (CRM), Order Processing, Telemarketing, and Others. Customer Relationship Management segment is likely to dominate the market in 2025 owing to the growing demand for interaction via non-voice mediums.
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The outsourcing contact center landscape saw a drive from agent occurrence towards automation. Also, 2008 observed augmented usage of automated software, like IVR plus speech technologies as a part of inbound assortment. These automated applications had been better traction for developing markets where it was ethnically suitable in order to avoid in person interaction in concern of efficacy as well as time management.
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The Business Process Outsourcing industry is extensively using advance technologies like virtual assistant and other artificial intelligence based solutions. As far the BPO industry is concerned, the virtual assistant market is expected to contribute a revenue growth of more than USD 2.5 billion by next year. One sub segment of the outsourcing industry that is expected to grow rapidly and will probably prove to be the strongest segment is the customer service agents based from home segment.
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