Call Center Outsourcing Market to grow by USD 27.64 billion from 2022 to 2027; Market driven by the rise of emerging countries as call center destinations- Technavio

NEW YORK, Sept. 6, 2023 /PRNewswire/ -- The call center outsourcing market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the call center outsourcing market between 2022 and 2027 is USD 27.64  billion. The rise of emerging countries as call center destinations is notably driving market growth. Outsourcing provides companies with improved process coordination and operational efficiency, leading to enhanced customer experiences and cost reductions. Leveraging lower operational expenses, call center firms are establishing their operations in countries like India and the Philippines. These outsourcing organizations are further expanding into countries such as Brazil, Colombia, Kenya, Egypt, and Malaysia. Government initiatives in these emerging regions play a significant role in attracting investments from call center organizations. For instance, the Kenyan government introduced the Kenya Vision 2030 in 2008, aiming to create 7,500 direct jobs in the Business Process Outsourcing (BPO) industry. By setting up outsourcing centers in new regions, companies across various sectors, including finance and healthcare, can delegate their customer service functions to call center organizations. This trend is expected to propel the expansion of the call center outsourcing market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy Full Report Here

Call Center Outsourcing Market Restrain- Security threat in call center outsourcing services restricts the growth of the market. 

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The call center outsourcing market is segmented by end-user (IT and telecom, BFSI, Healthcare, Retail, and Others), type (Inbound and Outbound), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The market share growth by the IT and telecom segment will be significant during the forecast period. Growing technological advances, considerable growth in data traffic, and rising demand from consumers for digital communication and content are the key factors for the growth of the It and telecom segments. With the advent of the 5G spectrum, the telecom services industry is expected to witness rapid growth. Many telecom businesses are focused on developing and launching 5G-related products and services. There have been several investments in 5G across the globe. Telecom and IT organizations outsource their customer relationship management functions to call center organizations to focus on core offerings. To reduce turnaround time and provide improved customer service, companies in the IT and telecom sectors are increasingly outsourcing customer inquiry management and other functions to call center organizations. With an inclination toward digital transformation and the increasing number of communication channels, the development of 5G is creating the demand and need for contact and call center outsourcing services, which will drive the growth of the IT and telecom segment during the forecast period.
• North America is estimated to account for 42% of the global market during the forecast period. 

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Key Companies in the call center outsourcing market:

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., 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, XACT Acquisition LLC, and Five9 Inc.

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The office and contact center headsets market size is estimated to grow at a CAGR of 12.69% between 2022 and 2027. 

The call center outsourcing market share in Europe is expected to increase by USD 3.73 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.53%.

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Type

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio