3rd Party Remote Call Monitoring Feature

If it seems to you that the contact center industry has suddenly exploded everywhere, you wouldn’t be far off. New data from leading market researcher Technavio proves the point.

In its latest update, ‘Global Contact Center Market for 2015-2019”, Technavio projects the global contact center market will hit $9.7 billion by 2019, growing at a CAGR of more than nine percent during the forecast period.

“The global contact center market has been registering a positive growth rate for the past five years, and this growth is expected to gain momentum in the coming years,” said Amit Sharma, lead analyst for ITO and BPO research at Technavio. “Innovation and the proliferation of digital technologies has changed customers' interaction with companies, and customers are now using different channels such as the Web and self-service options.”

Those in the outsourcing arena are especially primed to benefit. Sharma noted that some organizations prefer to outsource their call center functions to a third party to improve the customer experience, which will mean stronger bottom line.

Closer to home, Technavio says the contact center market in the Americas is expected to exceed five billion dollars by 2019, growing at a CAGR of over seven percent. Not surprisingly, the U.S., Canada and Latin America are the key regions in this market. The U.S. held a major market share of about 50 percent in the Americas in 2014, but it’s also worth noting that Latin American countries such as Brazil, Costa Rica, Guatemala, and Argentina are key adopters of contact centers.

Overseas, the contact center market in EMEA (Europe, Middle East and Africa) is expected to exceed $3 billion by 2019, growing at a CAGR of over 11 percent.

“Europe is the major contributor in this region,” Technavio said in its findings. “However, countries in Eastern Europe and Africa are seen as potential markets for contact center functions. EMEA's close proximity to business service outsourcing clients in the U.S. and Europe offers the benefits of time saving, high-quality service, and customer satisfaction, making the region a favorable location for contact center functions.”