The global Call Center Outsourcing Market is growing at a CAGR of 8% in the forecast period
— A call center is a centralized department where numerous telephonic calls are handled to provide services such as handling customer queries, managing outbound and inbound calls, and various other services. A call center outsourcing is when a company outsources its services to another company in order handle their customer service and to meet other operational requirements to manage volumes of calls. The global call center market is growing at a high CAGR. The market is further expected to increase owing to omnichannel strategies that provide holistic support and AI, enhancing and simplifying the customer engagement. In addition to these, the integration of call centers with social media platforms helps in better understanding customers and their preferences that will lead to customer satisfaction.
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The market for call center outsourcing is segmented on the basis of product type, end-use industry, and region. The product type is further segmented as inbound services, outbound services, and others such as offshore and virtual call centers. The segmentation on the basis of end-use industry is BFSI, government, retail, IT and Telecom, defense, and others. Among the end-use industry, the BFSI sector is dominating the call center outsourcing market owing to capitalization of market opportunities over different geographies and the requirement for cross-selling and up-selling the products. The BFSI sector is gaining advantage by outsourcing the service, as it helps reduce operating cost and maximize customer service so that the companies in this sector can concentrate on their core business.
The global call center outsourcing market is segmented on the basis of regions as North America, Europe, Asia Pacific, Latin America and Middle East Africa. The Europe region is dominating the call center outsourcing market with the highest number of call centers, followed by APAC, North America, and other regions. APAC is the having a majority share in outsourcing call center services, owing to the availability of low cost employees compared to other regions. In addition to this, the countries in APAC region have a large majority of people speaking multiple languages, which is an added benefit for call centers in this region.
The key players in the Call Center Outsourcing market providing outsourced call center services are IBM Global Services, Accenture, Cognizant, WNS Global Services, Infosys, Tata Consultancy Services, and others. Many companies opt for mergers & acquisitions, joint ventures, partnerships, and other business strategies to gain competitive advantage over their counterparts and gain profits. In April 2017, Accenture, a global management and consultancy service provider acquired Genfour, an IT service management company. The acquisition was aimed at gaining expertise in implementing, accessing, and managing intelligent automation solutions.
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Release ID: 520674