Increasing Focus on Providing Efficient Customer Service & Reducing Costs Drives the Call Centers Market, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Call Centers markets. Global Call Centers market is projected to reach US$337.8 billion by the year 2018, driven primarily by increasing corporate focus on providing efficient customer service as a part of business development. Renewed business process outsourcing activity and increasing use of innovative IT technologies also augur well for the future of this market.
San Jose, California (PRWEB) November 02, 2012
Follow us on LinkedIn – Providing a critical communications interface that can allow efficient customer interaction services, call centers have evolved into an essential element in corporate business development strategy. Unlike call centers of the yesteryears, which mainly focused on providing customer service functions, modern call centers are well equipped to provide services beyond customer services. Against a backdrop of rising competition, tighter regulatory pressures, emergence of disruptive technologies, rising consumer demands, splintering of the customer base and volatile economic climate, call centers are re-emerging into the spotlight as important instruments to create value for customers and shareholders. The scale of rigorous process improvement and standardization achieved by call centers of late, additionally make these establishment perfect partners for corporate success. Mirroring the trend is the growing adoption of latest information technology (IT) such as Automatic Speech Recognition (ASR), Call Routing, ACD, Voice Response Systems (IVR/VRU), VoIP, CTI and sophisticated CRM tools by call centers.
Another major trend witnessed in this industry is the integration of social media with the contact centers. Call centers are gradually taking up image management roles for client companies, triggered by the ever growing clout of social marketing. The ever increasing popularity of social media as an important medium to express views is forcing call center agencies to leverage the platform to interact with their client's customers and gather views and channelize opinion for clients. Rising to the occasion, contact center software developers are increasingly integrating Social Media Context module into their solutions to enable agents to quickly identify social media conversations most relevant to the client's businesses. Another trend being witnessed is the delivery of call center services in the form of mobile apps. Thanks to the smart phone revolution, call center companies are launching innovative apps for the customer to directly interact with the call centers using their smartphones. With smartphones poised to emerge as the preferred mode of communication, call centers are projected to offer enhanced value added services through mobile apps.
With the tough economy stress testing value propositions, ‘Hosted Contact Centers' are a rising trend in the world call center industry. Lower cost and lower end call center services, such as, help desk support, technical support, are increasingly being delivered as a service over the Internet. Financial benefits like lower upfront costs, greater control and visibility offered by the flexible and decentralized hosted contact center structure and easy low cost access to latest technology and pay-as-you go pricing are key factors driving the adoption of hosted call centers. The breadth of hosted offerings is also expanding to include advanced contact center functionality like outbound dialing, quality monitoring, speech self service and workforce management.
With “Outsourcing” rapidly becoming a political issue, especially in the United States, which has been witnessing a slow jobless economic recovery (GDP growing faster than the employment rate), it's a period of sustained uncertainty for the call center industry. For instance, the Obama administration continues to push for the anti-outsourcing bill to force domestic companies to repatriate jobs back to the US shores. The latest attempt to introduce the anti-sourcing legislation was the proposed “Bring the Jobs Home Act" in mid-2012. The proposed anti-outsourcing bill is designed to take a dig at the call center business, a successful legislation of which will cripple countries like India and Philippines, which are prime outsourcing destinations for US companies. The bill however failed to pass through with the republicans in the Senate voting against the bill. While BPO companies across the world have welcomed the US Senate rejection of the anti-outsourcing bill, the continuous anti-outsourcing lobbying in the country will continue to keep the industry nervous over the future playout of the political drama over outsourcing.
While the global call center industry continues to recover from the 2007-2009 economic recession guided by the fact that prolonged deeper cuts on customer service investments can potentially magnify fickle loyalty among consumers, the industry in Europe is running into fresh set of challenges. Large outsourcing contracts in the region are bearing the brunt of the region's broader macroeconomic uncertainties. Debt laden Governments and their austerity measures to curtail towering national debts are resulting in higher taxes. And as companies fall to sharpened tax swords of the financial ministry, spending is increasingly coming under pressure. For instance, customer service budget cuts by domestic companies saddled with concerns over profitability in an increasingly unstable and volatile economic climate is resulting in reduced outsourcing deal values.
As stated by the new market research report on Call Centers, the US continues to remain the largest regional market accounting for a lion's share of the market pie. Asia-Pacific represents the fastest growing market with the revenues from the region projected to wax at a CAGR of 18.9% over the analysis period.
Major players in the marketplace include 7 Inc., Acumen Telecomunicaciones SA de CV, Alliance Data Systems, Inc., Expert Global Solutions, Inc., Aspect Software Inc., ATOS S.A., Avaya Inc., BT Communications (Ireland) Limited, Capita Customer Management Limited, Convergys Corp., Datamatics Global Services Limited, Dimension Data Group Company, Merchants Limited, Entel Call Center, EXL Service Holdings, Inc., Genpact, GTL Ltd., HCL BPO Services NI Ltd., IBM Global Process Services Pvt., Ltd., Plusoft Informatica Ltda., Quality Plus Callscan Australia Pty Ltd., Sitel, Stream Global Services Inc., Sykes Enterprises, Inc., Teleperformance SA, TRG Customer Solutions, West Corporation, and Wipro Technologies Ltd.
The research report titled “Call Centers: A Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The single segment report provides market estimates and projections (in US$) for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, the Netherlands, Ireland, Sweden and Rest of Europe), Asia-Pacific (Australia, China, India, Philippines, Singapore and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Rest of World.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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