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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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AU NOMO Credit Card: A Smart Way to Leverage Fixed Deposits

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AHMEDABAD, India, Dec. 26, 2024 /PRNewswire/ — AU Small Finance Bank (AU SFB) has unveiled its latest offering, the AU NOMO Credit Card, a groundbreaking financial product that allows individuals to access credit while still growing their savings. This innovative credit card leverages the power of Fixed Deposits (FDs) as collateral, providing cardholders with enhanced purchasing power without compromising their long-term savings goals.

The AU NOMO Credit Card enables users to use their fixed deposits to secure a credit limit, offering a unique opportunity for first-time credit card applicants or individuals wanting to build their credit scores responsibly. This solution particularly benefits those with limited documentation or a lack of traditional credit history.

Key Features of the AU NOMO Credit Card

Contactless Payments: Enjoy secure and seamless tap-and-pay transactions for daily purchases.Card Liability Protection: Safeguards user against unauthorized transactions, card skimming, and online fraud with comprehensive liability coverage.Reward Points Program: User can earn reward points on retail, utility, and insurance transactions to maximize the value of their spending.Milestone Rewards: Unlock additional rewards for meeting specific quarterly spending goals.Lounge Access Benefits: Get complimentary access to domestic airport and railway lounges, subject to meeting spending criteria.Fuel Surcharge Waiver: Save on fuel transactions within a specified range with a surcharge waiver.

Eligibility Criteria

Here’s what one must know for eligibility criteria for AU NOMO credit card: 

Age: 18 to 75 yearsCitizenship: Indian ResidentFixed Deposit: Creation and maintenance of a fixed deposit with AU Small Finance Bank

The AU NOMO Credit Card (Credit Card against FD) offers an easy and seamless application process with a digital interface, making it accessible to anyone looking to leverage their savings for immediate spending power. The card promises to meet the needs of those starting their credit journey and those seeking additional flexibility in their financial dealings.

The AU NOMO Credit Card redefines the traditional approach to credit by allowing users to continue earning interest on their Fixed Deposits while enjoying the purchasing power that comes with a credit card. Whether for essential daily expenses or significant purchases, the AU NOMO Credit Card perfectly balances saving and spending, empowering individuals to achieve their financial goals without compromise.

For more information on the AU NOMO Credit Card, visit https://www.aubank.in/personal-banking/credit-cards/nomo-credit-card

About AU Small Finance Bank

AU Small Finance Bank, one of India’s leading small finance banks, is committed to transforming banking by focusing on customer-centric services and a deep understanding of the Indian market. More details on AU Small Finance Bank and its financial products like credit cards can be found online.

Logo: https://mma.prnewswire.com/media/2556252/5023474/AU_Small_Finance_Bank_Logo.jpg

 

View original content:https://www.prnewswire.com/in/news-releases/au-nomo-credit-card-a-smart-way-to-leverage-fixed-deposits-302338324.html

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Treat Yourself to a New Christmas Experience by Self-Gifting viaim’s AI Recording Earbuds, Perfect for a More Pleasant and Efficient Workplace

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SINGAPORE, Dec. 26, 2024 /PRNewswire/ — As Christmas approaches, the concept of self-gifting has become more popular with top business executives to help them get into the holiday mood. Especially designed for the office, a gift of AI recording true wireless earbuds launched by viaim, an AI technology hardware company deeply rooted in the smart office sector, can improve work efficiency, thereby lifting the spirits and improving quality of life for busy workplace elites ahead of the busy and stressful holiday period.

The person who understands themselves best is themselves. It is in this spirit that viaim is encouraging people to give themselves some extra love and care during this holiday season because they deserve it. The Christmas self-gifting trend that has been gaining popularity in recent years sees people pay more and more attention to creating a higher quality life for themselves in their busy work lives. Especially towards the end of the year, consumers are choosing to treat themselves with practical and pleasant gifts for Christmas. Earbuds have become a solid choice for self-gifting because of their usefulness in multiple scenarios, allowing users to enjoy a quality listening experience during work meetings and holiday relaxation time.

The amazing features of the Viaim Nano+ and Viaim Air open-ear AI recording true wireless earbuds make them the perfect choice for self-gifting this Christmas

13 language transcription and real-time translation: During the Christmas holidays, many business professionals travel internationally with friends or spend the holidays with family in countries that don’t speak their native language. viaim headphones allow users to communicate with local people around the world, jumping the language barrier and making cross-border communication smoother and the journey more interactive, fun, and memorable.VIAIM AI Smart Assistant: Generate Summaries and To-Do Lists with one click to help quickly complete an annual report or New Year’s business plan, allowing the festive atmosphere to be enjoyed without missing any key points.Flash Record function: Whether it is to conceive new ideas for next year’s project or suddenly think of a perfect Christmas gift list, inspiration during the holidays is often fleeting. Long press the viaim earbuds for one-click flash recording to capture ideas as soon as the spark of inspiration comes to mind.Noise reduction and a comfortable wearing experience: High-quality 45db noise reduction can provide users with a moment of quietness at Christmas parties, and the comfortable and lightweight design is suitable for long-term wear, meaning a quiet and enjoyable listening atmosphere can be enjoyed during the holidays.

Cecile from VIAIM shared: “Christmas is the time of year to relax and be grateful. It is of course a time to give gifts and be generous to others, but we also must remember to be kind to the person that knows us best – ourselves. Through our brand vision of “work smarter, not harder,” we hope to help people find their own special holiday moments in their busy work life by using our super-efficient office earbuds, so that everyone can enjoy a more productive and enjoyable life experience. I would like to personally wish all our customers, both new and old, a peaceful, relaxing, and happy Christmas.”

About VIAIM

VIAIM is an innovative technology company in the consumer-goods sector. With a focus on versatile, multimodal interactions, we strive to provide effective solutions that meet users’ specific needs. By harnessing state-of-the-art technology, we bring our visionary ideals to life, helping people embrace the incredible possibilities the Company offers.

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SOURCE VIAIM

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Lights Up Your Creativity from Online to Offline: Wondershare Filmora’s “A New Wonder to Share” Campaign Inspires Creators Everywhere

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TOKYO, Dec. 26, 2024 /PRNewswire/ — Video may have killed the radio star, but the rise of the internet did not make videos obsolete. Instead, we’ve reached a digital media landscape where video content reigns supreme. We’ve also reached a point where video content is incredibly saturated, and truly “light up” amidst the noise is increasingly challenging. The key often lies in the seemingly ordinary moments around us — moments that hold the potential for extraordinary stories. A beautifully prepared meal, a stunning view, or even a fleeting smile can become the spark for captivating content.

Wondershare Filmora’s latest campaign video, “A New Wonder to Share,” embraces this philosophy, captivating Japanese audiences within mere seconds. Powered by the advanced AI capabilities of Filmora 14 and paired with heartwarming visuals, the video is extending from online platforms to offline advertisements, resonating deeply with viewers and spreading a message of creativity and connection during this festive season.

Situated in the vibrant heart of Tokyo, the Shibuya district is globally renowned as a symbol of youth culture, creativity, and innovation. As part of Filmora’s “A New Wonder to Share” campaign, the district’s iconic screen now features the campaign’s latest video, complemented by ads across the Yamanote and Yokosuka · Sōbu Lines. Through vivid storytelling and captivating visuals, the video invites audiences to embrace moments of joy, growth, and discovery. This display in Shibuya underscores Filmora’s vision of celebrating individuality and lighting up creativity on a global stage, inspiring viewers to uncover life’s unexpected surprises and share their unique stories with the world.

As part of the “A New Wonder to Share” campaign, Filmora has also launched an online video challenge. Running from December 7 to December 31, participants are invited to create 20-second videos using the latest version, Filmora 14. By sharing their creations on designated social media platforms, they stand a chance to win exciting prizes, including an iPad, digital gift cards worth 20,000 yen, and Filmora memberships.

Wondershare Filmora is committed to empowering users with cutting-edge tools and creative resources. The latest release, Filmora 14, makes it effortless to transform everyday moments into extraordinary memories. Packed with over ten innovative AI features and professional editing functions, including Smart Short Clips, Smart Scene Cut, AI Color Palette, Multi-Camera Editing, and Planar Tracking, the software enables creators of all skill levels to streamline their video production process.

A highlight of the Filmora 14 update is the Smart Short Clips feature, which revolutionizes the way creators approach video content. This AI-powered tool intelligently analyzes your footage, pinpointing the most engaging highlights and turning it into eye-catching short clips, perfect for all social media platforms. With minimal manual effort, Smart Short Clips simplifies the editing process, automatically generating polished videos. The feature also adds subtitles and designs through customizable templates to enhance both visual appeal and accessibility.

As one of Wondershare’s flagship products, Filmora continues to strengthen its presence in the Japanese consumer market through collaborations with renowned brands and creators, including Japan’s leading anime and illustration community pixiv, NetEase’s survival horror game Identity V, and YouTuber 『 Kazuki no Tane 』. At the same time, Filmora actively hosts UGC competitions, inspiring more individuals across various fields in Japan to explore the exciting world of video creation, earning widespread acclaim and love from Japanese users.

About Wondershare

Wondershare is a globally recognized software company, known for its innovative solutions in creativity and productivity. Driven by the mission “Creativity Simplified,” Wondershare offers a range of tools, including Filmora and UniConverter for video creativity; PDFelement for document management; EdrawMax, EdrawMind for diagramming; and SelfyzAI, Pixpic for image editing. With over 1.5 billion users across 200+ countries and regions, Wondershare empowers the next generation of creators with intuitive software, trendy creative resources, and a dynamic ecosystem, continually expanding the possibilities of creativity worldwide.

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SOURCE Wondershare Technology

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