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Global Customer Care BPO Market 2019 by Company, Regions, Type and Application, Forecast to 2024
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Global Customer Care BPO Market Is Expected To Reach $ 81688.0 Million By 2025
The Global Customer Care BPO market is expected to reach $ 81688.0 million by 2025
GIR analysts predict that the global Customer Care BPO market is valued at 52615.9 million USD in 2017 and is expected to reach 81688.0 million USD by the end of 2023, growing at a CAGR of 5.65% between 2017 and 2025.
1) The increasing use of technology in private life.
In any case, this increases the demand for customer service to provide expert technical support. In addition, the number of channels through which companies can be contacted will continue to increase, including contacts through consumers’ digital assistants. At the same time, companies will gain better insight into consumer behavior patterns and better understand customer needs.
2) Comprehensive connectivity.
Customers expect companies to be just as networked as they are, and will demand even faster response times as today – and on whichever channel they choose. A representative survey conducted by YouGov on behalf of Facebook shows how quickly users want to receive an answer: people in large cities, for example, want a reaction time of less than 15 minutes. In order to keep pace with these requirements and provide consistent customer service across all relevant channels, companies need to get to grips with increasing technical complexity.
3) The further empowerment of customers.
Consumers have increasingly less tolerance for poor service. Together with their greater assertiveness, this represents a growing threat to a brand’s reputation. Quality control and customer feedback therefore play an increasingly important role. Brand loyalty will be more valuable – but also more difficult to achieve.
4) The exchange and monetization of private data.
The growing awareness of the performance of their data further increases the demands placed on customer service, as consumers expect service centers to act on this data. Customer service must also meet the requirements for transparency in data processing and use.
5) Changes in work structure.
This can lead to a potentially higher employee turnover and more temporary contracts. Customer service tasks are becoming increasingly complex. This means that more demand is being placed on service center employees. There needs to be a rethinking of the relevance and significance of this activity in order to find and retain motivated, well-trained employees in the long term. Continuous and lifelong learning will become increasingly relevant for employee development, and thus for the quality of customer service, and will be conveyed in the form of micro-learning and individualized training.
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