USD 14.05 Billion Growth Call Center Outsourcing Market | YOY Growth of 3.12% Recorded in 2021 | Technavio
NEW YORK, June 30, 2022 /PRNewswire/ -- The market analysis report titled Call Center Outsourcing Market by End-user and Geography - Forecast and Analysis 2021-2025 has been added to Technavio's offerings recently. The call center outsourcing market is likely to garner a potential growth difference of USD 14.05 billion from 2020 to 2025. The market will witness an accelerating growth momentum at a CAGR of 3.34% during the projected period. 35% of the market's growth will originate from APAC during the forecast period with Australia and India emerging as the key revenue-generating economies for the call center outsourcing market. The IT and telecom sector end-user segment held the largest call center outsourcing market share in 2020 and will continue to contribute the highest market growth in the market due to the increasing technological advances, considerable growth in data traffic, and increasing demand from consumers for digital communication and content.
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Call Center Outsourcing Market Vendor Landscape
Top Vendors and their Key Offerings:
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Call Center Outsourcing Market Dynamics
Key Trend: The surge in M&As and strategic alliances among market players and vendors is one of the key trends likely to propel the market's growth significantly during the forecast period. Vendors are opting for strategic partnerships and acquisitions with various market players, including customer support and call center service providers, technology services providers, and platform providers. Strategic partnerships and acquisitions help vendors in geographical expansion and gain access to technological expertise. Acquisitions enable vendors to explore potential markets for their services and generate revenues through the sales of their services to a wider customer base across different regions, in turn, driving the market's growth.
Key Challenge: Low employee engagement and shut down of call centers is one of the key challenges hindering the call center outsourcing market growth. Many call centers have different job timings. Employees who work at night can be affected by serious health problems such as stress, restless legs syndrome (RLS), insomnia, and hypertension. These health implications can make them quit their job. This is the major reason for the attrition of employees in this industry; the average attrition rate in this industry is estimated to be more than 10%. Call centers, therefore, bear the cost of recruiting, training, and developing new staff, which is hindering the growth of the global call center outsourcing market.
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Call Center Outsourcing Market Scope
Technavio categorizes the global call center outsourcing market as a part of the global data processing and outsourced services market. Our report provides extensive information on the value chain analysis for the call center outsourcing market, which vendors can leverage to gain a competitive advantage during the forecast period. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our call center outsourcing market report covers the following areas:
Call Center Outsourcing Market Takeaways
Table Of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
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