Outsourced Customer Care Services Market to worth over USD 110 billion by 2024
Date: 2018-09-12   Author: Ronak Bora  Category: #market

Outsourced Customer Care Services Market to worth over USD 110 billion by 2024

Asia Pacific outsourced customer care services market accounted for majority of the revenue in 2016 owing to the presence of countries like India and the Philippines. Availability of skilled and cheap labor are some of the factors boosting the industry growth. The English-speaking population also contributes to the growth prospects. The industry is propelled by rapid infrastructure facilities development and increasing demand for customer care services owing to tech savvy and urban population across the region.

Outsourced Customer Care Services Market is set to reach USD 110 billion by 2024. Rising demand for interaction via non-voice mediums will be the key driver for this industry. Customer relationship management is garnering importance from the industry owing to provide business support. Customized and personalized communications for an enhanced experience has pushed the companies to outsource these tasks in order to shift the management focus on core competencies of the organization. Pre-sales and post sales services are outsourced by the companies to reduce consumer relationship handling responsibilities.

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Outsourcing customer care services to third party agencies can lead to degradation in quality of handling client grievances and requirements thus creating a bad reputation of the company. Continuous assessment of tasks is required to ensure quality delivery by third party service providers. These factors hamper the growth and act as restraints to the outsourced customer care services market.

Rising social media trends owing to internet proliferation and providing support to client queries through this platform is expected to benefit the industry. Call center outsourcing, increasing use of social media platforms are some of the opportunities available for industry participants. Redistribution of client management tasks aid the companies to cater to consumer needs without managing human resource and infrastructure facilities.

Customer interaction activity will continue to dominate the industry and is the primary service in this segment. Activities such as sales, marketing, technical support, help desk through instant messaging, social media, telephones and e-mails will support the customer interaction segment growth. CRM technology hosting segment growth can be attributed to specialization of services and cost reduction for companies.

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The outsourced customer care services market is characterized by the presence of a considerable number of companies providing these services to organizations. Players include Accenture, Aegis, StarTek, Amdocs, Expert Convergys Corporation Synnex Corporation, Transcom Worldwide, etc. Strategies such as mergers and acquisitions are being followed by major companies to enhance their scope of operations worldwide and increase their client base. For instance, in 2015, Microsoft Corporation and Infosys collaborated to provide a suite of solutions to Microsoft Azure.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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