USD 14.05 Bn Growth in Call Center Outsourcing Market | APAC to occupy 35% market share | Technavio
NEW YORK, May 25, 2022 /PRNewswire/ -- The global call center outsourcing market size is expected to increase by USD 14.05 billion between 2020 and 2025. The market observed a YOY growth of 3.12% in 2021 and the growth momentum is expected to accelerate at a CAGR of 3.34% during the forecast period. According to the report, the market will observe significant growth in APAC. The region is the fastest-growing market for call center outsourcing, as numerous organizations are providing customer support and sales to Asian clients as well as clients in the US, Europe, and other regions.
Download Sample Report Now for more insights into the market size, growth momentum, YOY growth rates, and other important statistics.
The market is concentrated with the presence of a few established players. Vendors are adopting the M&A strategy and entering into partnerships with other players to expand their product portfolio, enter emerging markets, and boost their market share. The growing focus of vendors on increasing their presence, the emergence of new call centers, and the presence of established players in the market will lead to moderate competition among vendors during the forecast period.
The rise of emerging countries as call center destinations has been instrumental in driving the growth of the market. However, low employee engagement and the shutdown of call centers might hamper the market growth. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Atento SA, Bertelsmann SE and Co. KGaA, Hinduja Global Solutions Ltd., Sitel Group, StarTek Inc., Sykes Enterprises Inc., SYNNEX Corp., Tata Consultancy Services Ltd., Teleperformance SE, and Transcom Holding AB are identified as some of the major market participants.
Download Our Report Sample for more highlights on the vendor landscape.
Call Center Outsourcing Market 2021-2025: Segmentation
The global call center outsourcing market is segmented as below:
IT and Telecom is the prime end-user in the market. Factors such as increasing technological advances, considerable growth in data traffic, and increasing demand from consumers for digital communication and content are driving the growth of the segment.
About 35% of the market growth will originate from APAC during the forecast period. The development of local call centers coupled with the rising demand for customer relationship management from end-user industries such as telecom, healthcare, and finance are driving the growth of the regional market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The call center outsourcing market report covers the following areas:
Call Center Outsourcing Market 2021-2025: Key Highlights
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
View original content to download multimedia:https://www.prnewswire.com/news-releases/usd-14-05-bn-growth-in-call-center-outsourcing-market--apac-to-occupy-35-market-share--technavio-301554011.html