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Call Center Outsourcing Market size is set to grow by USD 25.9 billion from 2024-2028, Rise of emerging countries as call center destinations boost the market, Technavio

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NEW YORK, Aug. 13, 2024 /PRNewswire/ — The global call center outsourcing market size is estimated to grow by USD 25.9 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.37%  during the forecast period. Rise of emerging countries as call center destinations is driving market growth, with a trend towards increase in m and a and strategic alliances among vendors. However, increasing cost of call center outsourcing services  poses a challenge. Key market players include 247.ai Inc., Alorica Inc., Atento SA, Bertelsmann SE and Co. KGaA, Computer Generated Solutions Inc., Continuum Global Solutions LLC, Datacom Group Ltd., DiRAD Technologies Inc., Epicenter Technologies Pvt. Ltd., Five9 Inc., Helpware Inc., Hinduja Global Solutions Ltd., Infosys Ltd., Serco Group Plc, StarTek Inc., Sutherland Global Services Inc., Tata Consultancy Services Ltd., Teleperformance SE, Transcom Holding AB, and XACT Acquisition LLC.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Call Center Outsourcing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.37%

Market growth 2024-2028

USD 25.9 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.14

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 44%

Key countries

US, UK, Australia, Germany, and India

Key companies profiled

247.ai Inc., Alorica Inc., Atento SA, Bertelsmann SE and Co. KGaA, Computer Generated Solutions Inc., Continuum Global Solutions LLC, Datacom Group Ltd., DiRAD Technologies Inc., Epicenter Technologies Pvt. Ltd., Five9 Inc., Helpware Inc., Hinduja Global Solutions Ltd., Infosys Ltd., Serco Group Plc, StarTek Inc., Sutherland Global Services Inc., Tata Consultancy Services Ltd., Teleperformance SE, Transcom Holding AB, and XACT Acquisition LLC

Market Driver

The call center outsourcing market is witnessing intense competition among vendors, leading them to form strategic partnerships and acquisitions with various market players. These collaborations enable vendors to expand geographically and gain access to technological expertise. For instance, Atento opened its first call center in the Philippines at Iloilo Business Park in May 2023, while NobelBiz introduced OMNI+ Awaken Scripting to streamline contact center scripting processes in April 2023. In June 2022, Majorel Group Luxembourg SA and Sitel merged to create a new global leader in customer experience, and Teleperformance acquired Health Advocate, Inc. These strategic moves are expected to positively impact the growth of the call center outsourcing market. 

The call center outsourcing market is experiencing significant trends that are shaping the industry. Skilled labor is in high demand for handling complex customer queries. Technological progress, including digital transformation, machine learning (ML), automation, AI, data analytics, and cloud-based solutions, is driving efficiency and cost savings. Round-the-clock operations, flexibility, and scalability cater to diverse business needs. Customer experience remains a top priority, with multichannel services, multilingual support, instant messaging platforms, chatbots, messaging apps, social media, and omnichannel assistance enhancing engagement. Barriers to communication, absence of control, regulatory compliance difficulties, and quality concerns persist, necessitating effective strategies. Inbound, outbound, and multilingual services are popular, with telecom and IT, government and defense, healthcare, and IT and telecom sectors leading the way. Onshore, nearshore, and offshore outsourcing models, along with subscription-based models, offer varying benefits. Employee satisfaction and regulatory compliance are essential for sustainable growth. 

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Market Challenges

Call center outsourcing is a business strategy that optimizes process efficiency and enhances customer relationships for companies. Outsourcing call center services helps reduce operating costs and increase efficiencies. However, the industry faces challenges, including high attrition rates due to monotonous and stressful work conditions. Agents handle high volumes of calls while adhering to rigid scripts, leading to health issues like stress, insomnia, and hypertension. To maintain smooth workflows, call centers must hire and train new staff frequently, increasing costs. Vendors are adopting technologies like voice bots and social media management tools to enhance productivity. AI and RPA process automation and growing investments in cloud computing simplify business processes. However, these ongoing investments in technology, process improvement, and infrastructure increase the cost of Business Process Outsourcing (BPO), potentially hindering market growth. The global call center outsourcing market may face challenges in balancing these costs while maintaining profitability during the forecast period.The call center outsourcing market faces several challenges in today’s business landscape. Skilled labor availability is a major concern, as is keeping up with technological progress. Round-the-clock operations require flexibility and scalability, while maintaining high customer experience is crucial. Digital transformation brings new opportunities, but also barriers to communication and absence of control. Regulatory compliance difficulties can hinder growth in inbound, outbound, and multichannel services. Technologies like machine learning, automation, blockchain, AI, data analytics, and omnichannel assistance are transforming the industry. Onshore, nearshore, and offshore outsourcing models offer various benefits, from cost savings to employee satisfaction. Subscription-based models provide flexibility, while IT services, telecom, and government sectors offer significant opportunities. Fundamental skills like multilingual support, instant messaging platforms, chatbots, messaging apps, social media, cloud-based solutions, and cloud sourcing are essential for success. Overcoming these challenges requires a strategic approach and continuous innovation.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This call center outsourcing market report extensively covers market segmentation by  

End-user 1.1 IT and telecom1.2 BFSI1.3 Healthcare1.4 Retail1.5 OthersType 2.1 Inbound2.2 OutboundGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 IT and telecom-  The IT and telecom segment holds a significant market share in the global call center outsourcing industry. This growth can be attributed to the increasing technological advances, substantial growth in data traffic, and rising consumer demand for digital communication and content. The telecom services industry is projected to continue growing with the introduction of 5G technology. Telecom organizations are investing heavily in 5G, with estimates suggesting there will be 3.6 billion 5G connections by 2025, increasing to 4.4 billion by 2027. To focus on core offerings, IT and telecom companies outsource their customer relationship management functions to call center organizations. Maintaining in-house call centers requires substantial investments and resources, making outsourcing an attractive option. Companies like AT&T Inc. Have outsourced their customer support functions to vendors such as Teleperformance, Alorica, and Convergys. The shift towards digital transformation and the rise in communication channels necessitated by 5G development will fuel the growth of the IT and telecom segment in the call center outsourcing market during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The call center outsourcing market is experiencing significant growth due to the increasing demand for efficient and cost-effective customer support solutions. Artificial intelligence (AI) and data analytics are revolutionizing the industry, enabling personalized and automated interactions. Omnichannel assistance, multilingual support, instant messaging platforms, chatbots, messaging apps, social media, and round-the-clock operations are becoming essential for meeting customer needs across various channels. Fundamental skills like language proficiency and customer service expertise remain crucial, but technological progress is driving the need for a more skilled labor force. Flexibility and scalability are key benefits of outsourcing, allowing businesses to adapt to changing customer demands and seasonal fluctuations. Digital transformation, offshore outsourcing, subscription-based models, employee satisfaction, machine learning (ML), automation, and blockchain technology are shaping the future of the call center outsourcing market.

Market Research Overview

The Call Center Outsourcing Market is experiencing significant growth due to the increasing demand for efficient and cost-effective customer support solutions. Artificial intelligence (AI) and data analytics are transforming call centers, enabling personalized and automated interactions. Omnichannel assistance, multilingual support, and instant messaging platforms are becoming essential for providing seamless customer experiences across various channels. Cloud-based solutions and cloud sourcing are gaining popularity for their flexibility and scalability. Technological progress, including chatbots, messaging apps, social media, and IT services, are revolutionizing customer engagement. Sectors like government and defense, healthcare, IT and telecom, and others, are embracing call center outsourcing for fundamental skills and skilled labor. Round-the-clock operations, flexibility, and scalability are crucial benefits, while customer experience, digital transformation, and service quality are key drivers. Barriers to communication, absence of control, and regulatory compliance difficulties are challenges. Inbound, outbound, and multichannel services are common offerings, with telecom and IT sectors being major consumers. Onshore, nearshore, and offshore outsourcing models, subscription-based models, employee satisfaction, machine learning (ML), automation, and blockchain technology are shaping the future of the call center outsourcing market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userIT And TelecomBFSIHealthcareRetailOthersTypeInboundOutboundGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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SecurityGen and NEC Team Up to Strengthen Cybersecurity Operations for Indonesian Telcos

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Harnessing future-ready solutions and expertise to safeguard Telecom networks against emerging threats

JAKARTA, Indonesia, Sept. 24, 2024 /PRNewswire/ — In a significant development for telecom cybersecurity, SecurityGen, an award-winning global leader in telecom cybersecurity, and PT NEC Indonesia, a leader in IT, network and AI technologies and a multi-vendor system integrator, have announced a partnership to strengthen telecom network defences across Indonesia. This alliance brings together SecurityGen’s cutting-edge security solutions and NEC’s extensive expertise in telecom infrastructure in a bid to combat a spectrum of increasingly advanced cyber threats.

The partnership aims to enhance the performance, reliability, and security of telecom networks throughout the region with SecurityGen providing future-ready threat-informed defence platform, comprising its Breach Attack platform and Monitoring system, and NEC offering crucial professional services to support and optimize these advanced security solutions. SecurityGen will also ensure rapid, effective deployments through comprehensive training and onboarding. By focusing on future-proofed solutions and fostering local talent, this partnership supports NEC’s vision of bolstering its security-as-a-service offering and solidifying its position as a trusted partner for Indonesian telcos.

This collaboration becomes even more vital given the speed with which telecom networks are evolving – making them increasingly complex and vulnerable. Unfortunately, traditional security measures are not effective enough anymore. By integrating advanced, AI-powered threat intelligence with automated security systems, this partnership aims to provide telco SOCs with unprecedented visibility into signalling traffic and robust validation against real-world attacks. This proactive approach, with in-built remediation, will not only mitigate breach risks but also equip security teams with the essential tools and expertise to counteract sophisticated cyber threats and maintain business resilience.

Amit Nath, Co-Founder & CEO of SecurityGen, said, “Our partnership with NEC is a crucial step towards fortifying Indonesia’s telecom sector with the expertise and tools essential for securing modern networks and operations. Together, we’re committed to building local competencies and implementing advanced, research-driven strategies to ensure the long-term security and resilience of the telecom infrastructure.”

Joji Yamamoto, President Director of NEC Indonesia said, “”In Indonesia, we have seen rapidly increasing growth of cloud services, and connected devices and subscribers for IoT use cases. NEC Indonesia welcomes the partnership with SecurityGen to join forces in advancing network security in Indonesia to protect information assets through the introduction and operation of measures against cyber-attacks.”

***

About SecurityGen
Founded in 2022, SecurityGen is a global leader in telecom security. We provide a solid security foundation to drive secure telecom digital transformations and ensure safe and robust network operations. Our extensive product and service portfolio offers complete protection against existing and advanced telecom security threats. www.secgen.com

About PT. NEC Indonesia

NEC first established its Jakarta Representative Office in 1968. Through the years, PT. NEC Indonesia recognized the importance of instituting telecommunications infrastructure for the country and has introduced several NEC technologies and solutions. This has resulted in PT. NEC Indonesia achieving the market leader position of being a total solutions provider for the Indonesian telecommunications industry.

Today, with its headquarters in Jakarta, PT. NEC Indonesia continues to play a significant role in providing total telecommunications and IT business solutions to its customers in the government and enterprise businesses. For more information, please visit http://id.nec.com/ 

 

 

 

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SOURCE PT. NEC Indonesia

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Patricia Calderon, Global Head of Water of CDP: How to drive water action across supply chains

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JAKARTA, Indonesia, Sept. 24, 2024 /PRNewswire/ — This is an article from Patricia Calderon, Global Head of Water of CDP:

Supply chains are the knots that tie our global economy together and allow it to operate as it does.

In recent years those knots have become more complex and fragile.

Major trade routes can be held up by conflict, politics, or simply a container ship running aground. The world is deeply dependent on pinch points functioning with high volumes of traffic and little to no barriers. Below that level exist smaller, more intricate threads which have built up over time, across borders and through river basins.

The fragility now baked into the system is, in part, a result of our changing climate and the unsustainable nature of supply chains. Building resilience within supply chains to adapt to frequent extreme weather events is now crucial. Lessening their environmental impact is part of the same equation.

Deep dive

New research from CDP, the global non-profit leading the world’s environmental disclosure system for companies, cities, states, and regions, has examined the problem using data directly from companies.

We looked at 3,163 large companies with an annual revenue of more than EUR/ US$250 million. These companies disclosed to CDP’s annual water security questionnaire. A total of 1,542 companies – 50% – responded that they are engaging their supply chain on water risks. This includes inserting water requirements into supplier contracts, collecting water data, raising awareness of water issues, or collaborating on innovation.

Further analysis provides a unique insight into how some of the world’s largest brands are grappling with water issues. 1 in 5 companies are facing supply chain risks which could have a substantive financial or strategic impact on their business. These risks were estimated to total US$77 billion. And according to 79 businesses, a total of US$7 billion was deemed to be at immediate risk due to urgent water scarcity, food, regulatory and reputational issues.

Stem the tide

The data is clearly telling us our water supplies are becoming ever more fragile and the financial toll is mounting up. It’s down to large companies with the biggest water impacts to take immediate action, working with their suppliers to stem the tide of water risk.

Our research points to some of the tools currently being used by responsible companies – financial incentives, stricter contracts, and closer engagement are key. A group of forward-thinking businesses are already working on the problem. 443 businesses – 14% – offer their senior leaders, including the board, incentives to improve water management across the supply chain. A smaller group provide direct financial incentives to their chief procurement or purchasing officers.

Buyers and suppliers need to collaborate to ensure sustainability is a business norm. Recognizing it as a key differentiator among suppliers will be essential going forward. If we fail to address these issues the mounting financial impact of water risks will become all too apparent.

Going beyond

The report makes a strong case for companies to take immediate action on water issues in their supply chain and offers six key steps for companies. Each one of these indicators follows from the next: assess supply chain risks and impacts; set global targets; incentivize executives to act; include water in supplier requirements; engage with suppliers; and incentivize and support suppliers.

Ensuring supply chains can build resilience, reduce water risks, and keep our economies going is within reach. But to do so quickly and comprehensively we need to go beyond voluntary measures. The bar should be raised much higher in order to close the gap between where we are now and need to be.

Stronger regulation for mandatory disclosure and transparent reporting mechanisms are imperative to drive progress. This requires a combined approach with government policy, industry standards, and stakeholder engagement all playing a role.

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SOURCE CDP

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J-Stories launches special page to report on largest Japan-Taiwan summit bringing together startups and investors in the region

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This year’s event in Tokyo expanded to its largest scale yet amid growing interest in Taiwan’s dominant semiconductor and AI sectors

Japan’s solutions-focused news service J-Stories is an official media partner of the 2024 Japan-Taiwan Innovations Summit. Here’s J-Stories’ special page where summit-related stories are featured in partnership with Startup Island TAIWAN, Taiwan’s national startup brand. J-Stories is run by Tokyo-based media agency Pacific Bridge Media & Consulting.

TOKYO, Sept. 23, 2024 /PRNewswire/ — The 2024 Japan-Taiwan Innovation Summit, the largest startup event to date featuring Japanese and Taiwanese aspiring to expand overseas, was held this month (Sept.17-18) in central Tokyo. Over 1,000 participants from various sectors – including politics, academia, large business and media – engaged with approximately 70 innovative startups over the two days.

The annual summit, which started two years ago, expanded further from previous years, incorporating cutting-edge industries, including AI, biomedical science, cybersecurity, digital services, fintech, defense and aerospace.

The two-day event was co-hosted by Taiwan’s National Development Council (NDC), a government body of Taiwan, and the Tokyo Metropolitan Government. Tokyo-based media agency Pacific Bridge Media & Consulting also supported the event as the official media partner, featuring various reports and videos about the event on a special online page, bridging the gap between Taiwan’s top entrepreneurs and the startup community in Japan.

Discussed among the main topics were Taiwan’s booming semiconductor supply chain and its uninhibited growth potential within the next decade. Taiwan’s leading chipmaker, TSMC, was launched as a startup more than three decades ago with the support of the Taiwanese government. Now, the international company is building factories in southern Japan, giving those in Tokyo high hopes for Taiwan’s investments in bumping up semiconductor production capabilities and building more factories in Japan.

At this year’s summit, it was not only Taiwanese entrepreneurs who took the floor, but also Japanese startups. The summit featured a significant number of Japanese participants from financial institutions, venture capitalists, and trading companies. This increased Japanese involvement is expected to strengthen the JapanTaiwan network and contribute to the development of a thriving international ecosystem.

To start Day 1, Taiwan’s NDC Minister Liu Chin-Ching (Paul Liu), the Taiwanese delegation leader for this summit, took the stage. Minister Liu stated: “We are implementing the ‘Bridge Plan’ to expand innovation internationally. While we have been advancing innovation domestically in Taiwan, our future goal is to pursue international collaboration, with Japan being our first partner.” He emphasized the significance of Japan and Taiwan’s collaborative efforts. 

A video message from Tokyo Gov. Yuriko Koike was shown following Liu’s speech. She emphasized, “Taiwan and Japan have built a strong cooperative relationship. Let’s join forces between Tokyo and Taiwan to launch significant innovation.”

Among the speakers was Kei Furukawa, an Investment Partner at UTokyo IPC, who gave a lecture titled “Innovation and Startup Development Systems at the University of Tokyo VC,” discussing the advancement of innovation and entrepreneurship through collaboration between government and universities in Japan.

Additionally, there were presentations from Japanese and Taiwanese startups and innovation companies, speeches by notable guests, and more. The summit concluded with an invitation-only opening ceremony for the Taiwan Startup Tokyo office and a gala dinner with investors.

Visit J-Stories’ special page here:
https://jstories.media/jp/specials/jtis

Event Overview:

Name: 2024 Japan-Taiwan Innovation SummitDate: September 17 (Tuesday) – 18 (Wednesday), 2024, 10:00 AM – 5:00 PMVenue: Tokyo Innovation Base (TiB) 2nd Floor (3-8-3 Marunouchi, Chiyoda-ku, Tokyo, in front of Yurakucho Station)Format: On-site participationLanguages: Chinese, Japanese, and English (with simultaneous interpretation)Organizer: Startup Island TAIWAN

For more information on the Japan-Taiwan Innovation Summit 2024, please click here:

https://togethergobig.jp/en-summit

About J-Stories:

J-Stories is an online news platform that communicates innovative ideas, products, and technologies from Japan that address global issues to audiences and investors worldwide in Japanese, English, and Chinese. As the media partner for the “2024 Japan-Taiwan Innovation Summit,” J-Stories will be publishing articles about the summit before and after the event. J-Stories is run by Tokyo-based multilingual media agency Pacific Bridge Media & Consulting.

To receive the latest articles from J-Stories, please subscribe to our newsletter by emailing: jstories@pacificbridge.jp

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SOURCE PACIFIC BRIDGE MEDIA AND CONSULTING

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