Outsourced Customer Care Services Market Size
Outsourced Customer Care Services Market size was over USD 70 billion in 2016 and is predicted to grow at an estimated CAGR of 6% from 2017 to 2024.
The expansion of the outsourced customer care services market over the next few years is expected to be driven by the desire for mobility services on a variety of platforms. Smartphones have made people more connected than ever, so the overall user experience needs to be updated.
A multi-channel solution helps the companies provide services more quickly and with more information and insights, which improves their marketing communications. As needs change quickly, the outsourced customer care services market is seeing a faster movement in demand from enriched to transformative offerings. More and more people want customer care that works on several platforms and uses instant messaging. This is done so that the companies can always talk to their customers and fix problems quickly.
| Report Attribute | Details |
|---|---|
| Base Year | 2016 |
| Outsourced Customer Care Services Market Size in 2016 | 70 Billion (USD) |
| Forecast Period | 2017 – 2024 |
| Forecast Period 2017 – 2024 CAGR | 6% |
| 2017 – 2024 Value Projection | 110 Billion (USD) |
| Historical Data for | 2013 to 2016 |
| No. of Pages | 120 |
| Tables, Charts & Figures | 48 |
| Segments covered | Service and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
The market for outsourced customer support lets businesses focus on what they do best and save money. A lot of businesses are outsourcing to save money on overhead, make their operations more flexible, and improve the quality of their service.
Outsourced Customer Care Services Market Analysis
Customer service is more crucial now than it has ever been. People want their problems to be solved quickly and easily, and they want help that is specific to their needs. That's why businesses are hiring outside companies to handle customer service. These businesses are experts at making strong connections with clients and giving them support that is both helpful and easy to get. They can help companies keep customers, make more money, and stay competitive in today's economy. Customer service companies know that happy customers are the key to success. They work hard to provide great pre-sales and post-sales services that make the customer experience better and create value. This helps businesses expand and keep their clients for a long time.
Services including controlled charging and routing, as well as contact centers, are expected to boost sales and build loyalty in the outsourced customer care services business. Helpdesk services make the whole user experience better and keep people coming back. So, the corporations are providing support on several channels and levels, as well as advanced services like fixing network problems and helping with software and hardware.
North America is expected to put more emphasis on outsourcing customer service because of the growing need for active customer service and the expanding infrastructure. In addition, the high cost of resources has led to outsourcing to several Asian nations such as Philippines and India. The growth of the regional outsourced customer care services market will be affected by changing consumer behavior and fewer inbound calls. Service providers in the area are adding to their technological platforms so that they may better serve their customers.
The low cost of resources and presence of English speaking individuals characterize the LATAM market. The reduction in telecom rates, rising penetration of internet, and presence of educated, bilingual agents will escalate the demand in the region. Furthermore, the time zone and geographic proximity similarity of Latin America to the U.S. also makes it a popular outsourcing destination.
Outsourced Customer Care Services Market Share
Industry players include
- Aegis
- Synnex Corporation
- Accenture
- Expert Global Solutions
- Amdocs
- StarTek
- Convergys Corporation
- Transcom Worldwide
Owing to the presence of several industry players, players are concentrating on expanding their services and increasing acquisitions to gain prominence. For instance, in 2015, Microsoft Corp and Infosys partnered to provide the Finacle suite of solutions on Microsoft Azure. Outsourced customer care services market players have to comply with varying consumer requirements and deliver multichannel solutions.
Vendor selection is the major decision maker for this process. Companies conduct numerous tests to confirm that they are commencing outsourcing with a reliable vendor. The growing usage of cloud-based and host-based services have made them relatively inexpensive and has increased the penetration into SMBs resulting in an increase in the market growth.
Outsourced Customer Care Services Industry Background
Hey there! The customer care industry is booming, and for good reason. Companies are realizing the value of outsourcing their customer service to companies that specialize in keeping customers happy. Outsourcing gives businesses the power to manage their customers and meet their needs more effectively. Thanks to the rise of big data and cloud technology, the market for outsourced customer care is expected to skyrocket in the next seven years. With outsourcing, companies can focus on what they do best, while also saving money. And thanks to multi-channel solutions, businesses can reach their customers on the channels they prefer. As technology advances and consumer behavior changes, the demand for efficient customer service is only going to grow. So if you're not already outsourcing your customer care, now's the time to consider it.
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy