Call Center Market Sees No Sign of Slowing Down

Contact centers have always been a critical part of business – the primary link between brands and customers. Over time, as products, services, and technologies have changed, their importance has only become greater, given the erosion of brand loyalty in general. Certainly, over the past few years, they have been an integral part of the brand-customer relationship during unprecedented global circumstances.

Despite evolving technology, global conditions, and customer trends, what has never changed is a desire for companies to deliver quality customer service in an effort to keep customers satisfied and to retain loyalty.  The call center is charged with meeting those demands, something that isn’t likely change.

To that end, the global call center market is expected to reach $22.2 billion by the end of this year, and will continue to grow at a 10.8% CAGR, reaching $47.6 billion in 2029, according to a FMI report.

Brands and businesses want to continue to provide superior customer service because it helps customers choose their brands, driving business revenue. That is why good customer experience is a main element of a prosperous business model that governs the BFSI and consumer goods industries. And the two industries are expected to have high a demand for inbound call centers as well as outbound call centers, driving the call center market.

Another factor driving the market is the continued increase in digitization that led to a substantial increase in demand for internet services from ISPs and telecom companies. This encouraged many telecom companies to set up new call centers and provide services for their customers whenever they see fit or need assistance.

An example, consider the BT (News - Alert) and EE telecom specialists' recruitment drive that was held in February for a new U.K.-based contact center. This recruitment drive was estimated to hire 1,000 people by April and was part of an effort to provide better customer support for BT and EE customers.

The call center market was one of the few that made it through the blunt force of the pandemic relatively unscathed and actually saw growth. As businesses look to provide better customer support to increase customer relationships and telecom companies roll out more affordable plans and respond to the demand for internet services, the call center market is showing no sign of slowing down in the foreseeable future.

As long as businesses sell products, there will always be a need for customer service – whatever the industry.

Edited by Erik Linask