Outsourced Customer Care Services Market to Accrue Remarkable Proceeds via Customer Interaction | Key Players are Accenture, Aegis Global, Alorica, Amdocs, Convergys, Infosys, Sitel, SPi Global, STARTEK, Sykes Enterprises, Incorporated, SYNNEX, Teleperfor

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.

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.

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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.

The key players covered in this study: -

1. Accenture
2. Aegis Global
3. Alorica
4. Amdocs
5. Convergys
6. Expert Global Solutions (now Alorica)
7. Infosys
8. Sitel
9. SPi Global
10. STARTEK
11. Sykes Enterprises, Incorporated
12. SYNNEX
13. Teleperformance
14. TTEC
15. Transcom
16. West Corporation

CRM technology hosting is one of most lucrative service segments of outsourced customer care services market. The demand for low cost services is expected to augment the growth of this service segment over the coming seven years. CRM technology provides flexible solutions for various consumer problems and helps them use the features as they desire. Besides, it has been observed that most firms are reluctant to shift their service offering to multiple channels, which will further spur outsourced customer care services industry share from CRM technology hosting services.

Outsourced customer care services market share from customer interaction is expected to rise significantly over the coming years. This growth can be attributed to the huge demand for quick problem recovery solutions. The primary aim of outsourced customer care services industry providers is consumer satisfaction, which will propel the business demand for customer interaction in the future. Subject to the goal of building and maintaining consumer relationships and fulfilling their demands in a way that they find convenient, outsourced customer care services market from customer interaction will gain a competitive edge over the next few years.

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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.

North America is one of the most lucrative business grounds for outsourced customer care services. Pertaining to huge demand for high quality consumer care and the rise in the infrastructural facilities, North America outsourced customer care services industry is anticipated to grow remarkably over 2017-2024. Besides, pertaining to the presence of skilled labor at low costs, companies have been outsourcing their operations to Asian countries such as India and Philippines, which will substantially propel North America outsourced customer care services market. Besides, the high cost of resources in the continent is further stimulating the regional demand. The U.S. is slated to be one of the key revenue contributors.

The competitive landscape of outsourced customer care services industry includes the participation of numerous giants such as Transcom Worldwide, Expert Global Solutions, Convergys Corporation, Aegis, Accenture, StarTek, Synnex Corporation, and Amdocs. While outsourcing services, it is essential to choose the most appropriate vendor. On these grounds, companies execute several testing methodologies to verify if their outsourced service portfolio is being launched with a reliable, well-known vendor.

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These corporations are being increasingly drawn toward the adoption of cloud computing and host-based services pertaining to their high efficiency and reasonable costs. Players operating in outsourced customer care services market also have to comply with the changing requirements of consumers and must be able to deliver services via multichannel solutions.

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