Global Outsourced Customer Care Services Market Report, History and Forecast 2013-2025, Breakdown Data by Companies, Key Regions, Types and Application By Innovation Market Research, Inc

 Pulichser: QY Research

September 2019

 Pages: 100

 IMR 7386

The worldwide outsourced customer care services market is anticipated to witness steady growth by 2025, according to a report available on Innovation Market Research, Inc. The market is expected to grow at a healthy CAGR over the forecast period (2013 to 2025). Preference for non-voice channels for customer handling is the key growth driver. High demand for enhanced customer experience solutions can positively influence growth in the forthcoming years.

Outsourced customer care services can aid to focus on core business services. This allows enterprises to save overhead costs and enhance their service levels. Companies focus on Customer Relationship Management (CRM) to continue retaining their customers. The shift towards cloud and other host-based services is expected to encourage Small and Medium Enterprises (SMEs) to enter the market.

Vendor selection is the key to determine the success of outsourced customer care services within an enterprise. Demand for data integrity & privacy is expected to contribute to the overall market growth. Customized services involve customer in various surveys. Involvement of customers in the launch of new products and services can enhance customer experience.

Multichannel customer experience is the trend currently driving the market. For instance, recently, Teleperformance SA entered into an agreement with Boots UK to manage its contact centers and operations. This partnership is expected to have a positive impact on customer sales of the latter in the years to come. More than 79% of the United Kingdom’s (UK) contracts offered customer support through multiple channels in 2016. Advent of smartphones and tablets has modernized customer service with chatbots and virtual service assistants.

The global market for outsourced customer care services is segmented on the basis of service activities and regions. According to service activities, the market is trifurcated into customer interaction, CRM technology hosting, and fulfillment/logistics. Customer interaction is further divided into technical support/help desk, customer service, marketing, and sales.

Customer interaction can gain significant market share during the forecast period. It provides communications across social media, SMS, e-mail, instant messaging, and telephone. Development of multi-channel communications based process-centric platforms can propel the market growth in the years to come. CRM technology hosting is anticipated to register significant growth by 2020. Ability to reduce cost and improve customer experience can boost this demand over the years to come.

According to regions, the market is categorized into North America, Asia Pacific (APAC), EMEA (Europe and Middle East & Africa), and South America. North America held most of the market share in terms of demand in 2012. It may continue its dominance throughout the forecast period due to growth in wireless communication. Presence of large number of service providers may further support the demand. APAC is anticipated to witness robust growth over the next eight years.

Prominent companies operating in the outsourced customer care services market are Convergys Corporation, Sykes Enterprises, Teleperformance SA, West Corporation, and Stream Global Services. Most companies opt for business acquisition and service expansions as the chief business strategies to gain significant market share. This transaction can help them in getting a larger clientele improved workforce.

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