Overview and Scope
Call center outsourcing is a business strategy in which a business contracts with an outside service provider to manage customer service and tele-calling-related activities on behalf of the organization. It allows companies to focus on their core business activities while an external team handles customer service.
Sizing and Forecast
The call center outsourcing market size has grown strongly in recent years. It will grow from $106.11 billion in 2023 to $113.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to focus on core competencies, scalability, 24/7 customer support, access to specialized skills.
The call center outsourcing market size is expected to see strong growth in the next few years. It will grow to $149.29 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to multichannel customer support, focus on customer experience, data security and compliance, flexible work models, social responsibility and sustainability. Major trends in the forecast period include advanced technologies, technological advancements, emphasis on digital transformation, data security and compliance, focus on customer experience (cx).
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Segmentation & Regional Insights
The call center outsourcing market covered in this report is segmented –
1) By Type: Inbound Services, Outbound Services
2) By Enterprise Size: Large Enterprise, Small And Medium Enterprises (SMEs), Startups
3) By Vertical: Banking, financial services and insurance (BFSI), Information Technology And Telecom, Healthcare, Retail, Manufacturing, Other Verticals
North America was the largest region in the call center outsourcing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the call center outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing e-commerce industry is expected to propel the growth of the call center outsourcing market going forward. E-commerce (or electronic commerce) refers to buying and selling goods and services and sending money or data through an electronic network, most often the Internet. A call center outsourcing service provides e-commerce companies access to skilled and experienced agents trained in handling customer inquiries. It ensures that customers receive high-quality assistance and support. For instance, in September 2022, according to the International Trade Administration, a US-based department of commerce, consumer e-commerce made up 30% of the UK’s overall retail sector (up from 20% in 2020), with an annual e-commerce revenue of more than $120 billion. Furthermore, in May 2021, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, the rise in e-commerce increased online retail sales’ share of total retail sales from 16% to 19% in 2020. Therefore, the growing e-commerce industry is driving the growth of the call center outsourcing market.
Key Industry Players
Major companies operating in the call center outsourcing market report are Accenture plc, Telefónica S.A, Capgemini SE, Cognizant, Infosys BPM, Wipro, Teleperformance SE, Tech Mahindra, Concentrix, Arvato AG, Genpact, Conduent Inc., Comdata Group, Telus International, TTEC Holdings Inc., Alorica, Sutherland Global Services, WNS Global Services, TaskUs, Transcom WorldWide AB, Datamark Inc, Hinduja Global Solutions, IBEX Global Solutions plc, Startek, VXI Global Solutions, Fusion BPO Services Limited, Arise Virtual Solutions Inc., LiveOps, Groupe Acticall S.A.
The call center outsourcing market report table of contents includes:
1. Executive Summary
- Call Center Outsourcing Market Characteristics
- Call Center Outsourcing Market Trends And Strategies
- Call Center Outsourcing Market – Macro Economic Scenario
- Global Call Center Outsourcing Market Size and Growth
.
- Global Call Center Outsourcing Market Competitive Benchmarking
- Global Call Center Outsourcing Market Competitive Dashboard
- Key Mergers And Acquisitions In The Call Center Outsourcing Market
- Call Center Outsourcing Market Future Outlook and Potential Analysis
- Appendix
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