The Outsourced Customer Care Services Market is expected to witness steady growth over the forecast timeline, owing to the increase in inclination of organizations towards serving the consumers in the most optimum way. Growing trend of omni-channel retailing is enabling the businesses to mark their presence across multiple channels such as chat, web, voice, and social media. Rising need to integrate the channels to empower the users and boost their confidence through congruent customer experience may propel the outsourced customer care services market. Additionally, implementation of robotic process automation (RPA) in customer care services is trending among the companies to enable them to improve operational efficiency.
Outsourced customer care services market is moderately fragmented and involves the presence of numerous SMBs. In order to sustain their business position, companies have been focusing on enhancing their service portfolio. In addition, the tried-and-tested strategy of acquisitions is also a rage in outsourced customer care services industry, which players have been adopting, in order to gain global prominence.
Factors such as language barriers, currency exchanges, and international laws are expected to hamper the outsourced customer care services market growth in countries including India and Philippines. Furthermore, businesses are looking for feasible near-shore service providers. For instance, businesses in the U.S. outsource call center services to countries including El Salvador and Chile. Near-shoring in the outsourced customer care services market is expected to gain momentum in the Eastern Europe as it is becoming more attractive in the UK and Germany. In these countries, it is the most attractive option realized by more skill specific businesses with complex and high-end operations, as they realize the value of keeping the outsourcing process near to the business. This enables the companies to receive multichannel, state-of-art, and multi-lingual services cost-effectively.
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CRM technology hosting is one of most lucrative service segments of outsourced customer care services market. The demand for low cost services is expected to augment the growth of this service segment over the coming seven years. CRM technology provides flexible solutions for various consumer problems and helps them use the features as they desire. Besides, it has been observed that most firms are reluctant to shift their service offering to multiple channels, which will further spur outsourced customer care services industry share from CRM technology hosting services.
North America is one of the most lucrative business grounds for outsourced customer care services. Pertaining to huge demand for high quality consumer care and the rise in the infrastructural facilities, North America outsourced customer care services industry is anticipated to grow remarkably over 2017-2024. Besides, pertaining to the presence of skilled labor at low costs, companies have been outsourcing their operations to Asian countries such as India and Philippines, which will substantially propel North America outsourced customer care services market. Besides, the high cost of resources in the continent is further stimulating the regional demand. The U.S. is slated to be one of the key revenue contributors.
The competitive landscape of outsourced customer care services industry includes the participation of numerous giants such as Transcom Worldwide, Expert Global Solutions, Convergys Corporation, Aegis, Accenture, StarTek, Synnex Corporation, and Amdocs. While outsourcing services, it is essential to choose the most appropriate vendor. On these grounds, companies execute several testing methodologies to verify if their outsourced service portfolio is being launched with a reliable, well-known vendor.