San Francisco, Nov. 23, 2015 (GLOBE NEWSWIRE) -- Global Outsourced Customer Care Services Market is projected to reach USD 84.7 billion by 2020, as per a new research report by Radiant Insights, Inc. Swelling need for interaction through non-voice channels is estimated to boost global demand over the forecast period.
Customer service was the leading customer interaction activity segment and was valued USD 22.3 billion in 2014. It is expected to observe significant gains, with estimate of USD 30.4 billion by 2020 at 5.3% over the coming years. It takes care of the customers need by delivering professional high quality service and continues to help before and after the customer's necessities are met. This is expected to help leaders gain industry share on account of growing awareness regarding personalization and promptness in service delivery. Sales service is projected to reach USD 19.1 billion by 2020, at an estimated CAGR of 4.1% from 2014 to 2020.
The focus on efficient and effective mobile customer care is increasing, with buyers looking for mobility services across various platforms. Growing cloud and host-based services, along with trends such as social media and big data are expected to strengthen industry competition over the forecast period. Aging workforce in developed market coupled with escalating demand from Asia Pacific region is acting as growth opportunities.
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Key report insights suggest:
- Global outsourced customer care services market was valued USD 62.5 billion in 2014, with estimation of USD 84.7 billion by 2020, growing at 5.2% from 2014 to 2020
- Global demand in customer interactive service activity was USD 51.6 billion in 2014 which is probable to exceed USD 68.6 billion by 2020, growing at a CAGR of 12.1% from 2014 to 2020. It consists of communications across various channels such as e-mail, instant messaging, telephone, social media and SMS.
- North America outsourced customer care services leads the regional demand with industry share of 55.1% in 2014. Mounting infrastructure facilities and delivering active customer care services has boost the demand in the region. In addition, it is expected to observe an increased demand for CRM hosting services and tech support services, which can be attributed to technological sound and sophisticated population.
- Asia Pacific is expected grow at high rates as compared to all the other regions. The region is expected to grow at a CAGR of 7.4% up to 2020 owing to the accessibility of cost effective labor, fluent in English.
- Major portion of the industry share was help by top ten key industry participants in 2013. Chief manufacturers include Accenture, Infosys, Aegis, Amdocs, Convergys Corporation, Expert Global Solutions, Synnex Corporation, Transcom Worldwide and StarTek Inc among others.
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Global Outsourced Customer Care Services Activity Overview (Revenue, USD Million, 2012 - 2020)
- CRM Technology Hosting
- Customer Interaction
Global Outsourced Customer Care Services Regional Overview (Revenue, USD Million, 2012 - 2020)
- North America
- Asia Pacific
- South America
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About Radiant Insights
Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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Source: Radiant Insights