The outsourced customer care services market is predicted to attain a size of nearly USD 85 billion by 2020. Cloud/host based services should prove favorable for medium & small enterprises and assist the latter in penetrating developing markets. Huge need for mobility furthers the demand for ‘mobile consumer care’ optimization. This may positively influence the market in the forecast period (2014 to 2020).
Demand for communication modes and non-voice channels fuel multi-channel services. Firms depend (conventionally) on user relationship administration for consumer management. Better user experience entails personalized communication, which is constant. Voice adoption as a form of needed interaction has also reduced.
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However, digital or self-service modes serve as a hindrance. Efficient ‘mobile consumer care’ focus has risen steadily, with purchasers seeking mobility solutions on various portals. Communication demand via non-voice mediums is anticipated to be the key market propeller. Host consumer care and inclination towards it would open novel avenues for the outsourced customer care services market.
To ensure capitalization on the same, market firms attempt at better security to prevent safety breaches, outages, & other unwanted events. Intensifying host & cloud solutions, alongside social media & big data developments, could boost market competition. The market could grow at about 5.2 percent CAGR over the forecast period. It is bifurcated on account of service activities and geographical regions.
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Fulfillment/logistics, consumer interaction, and CRM technology hosting are the various service activities. Consumer interaction held 83 percent shares in 2012. It would lead the market in the six years ahead. CRM technology hosting occupied comparatively smaller shares in 2012. It is projected to remain the swiftest growing service activity in the future.
This segment may also record nearly 11.9 percent CAGR in the forthcoming years. It helps organizations improve their return on investments and ‘core business’ administration strategies. CRM technology hosting specifically makes medium & small organizations lucrative.
Geographical regions under the outsourced customer care services market comprise Asia Pacific, North America, South America, and EMEA. North America accounted for the largest shares in 2012. It can dominate the market from 2014 to 2020. Market participants indulge in mergers & acquisitions to expand their capacities & sizes.
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