The call centre market has made spectacular strides over the past few decades, riding on the back of the globalization of the workforce. Over the past few decades, emerging economies have been at the hotspot of a rising call center workforce, propelled by an enormous increase in size in the outsourcing industry. Numerous macroeconomic factors and microenvironmental factors across industries have played role in shaping the contours of the evolution of the call centre market. The growth has come from the rise in the productive workforce in developing economies, coupled with the willingness to enter the workforce at a very early age. Such trends have gained strength in an urban populations of developing countries over the start of this century.
Global organizations have been increasingly outsourcing non-core business operations to call centers, the primary reason having to do with cost-cutting. The advantage of inexpensive labor in emerging economies has attracted them to shift their business models toward outsourcing. This still stands as a key business proposition behind the rise in the number of call centers. Furthermore, a number of new businesses in the IT sector have emerged, which is expected to enrich the landscape of the call centre market. A sizable chunk of revenues has stridently come from the demand for call center services from developed nations, increasingly in the life sciences industry. Standardization of regulations has also played a key role in propelling the expansion of avenues in the call centre market.
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Global Call Centre Market: Overview
A call centre refers to a centralized department where both potential and existing customers are directed to make further inquiries, present their issues or transact. Call centers are able to handle both outbound and inbound calls and can be found either within a company or could be outsourced to some other organization that has expertise in handling calls. Customers often have very high expectations for the customer service experience provided by various brands. Customers look for an efficient and quick solution for their issues. In cases of time-sensitive matters, call centers are their first point of contact for a quick solution. In some companies or with certain brands, call centre communication is the only way of grievance and query redressal. The growing importance of such services is likely to fuel the growth of the global call centre market over the period of assessment, from 2020 to 2030.
Technological interventions are reshaping the business landscape and transforming how business is done today. Call centers are no exception to this rule. It is a bullish industry, especially when several businesses are starting to understand the significance of implementation of improved customer-specific models so as to better customer relationships and thus improve revenue. Increased investment and adoption of advanced technologies like chatbots, automation, and artificial intelligence are expected to streamline the operations of call centers. This factor is likely to fuel the growth of the global call center market over the period of analysis.
Deployment and region are the two important parameters based on which the global call centre market has been classified.
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Global Call Centre Market: Notable Developments
One of the relevant and important developments in the market that gives a quick view of the dynamics pertaining to the global call centre market is mentioned below:
- In August 2020, a subsidiary of Hinduja Global Solutions Ltd, HGS Digital LLC, confirmed its participation as Amazon Web Services (AWS) Contact Centre Intelligence (CCI) solutions Partner program. With the partnership, HGS Digital LLC, is anticipated to assist consumers in adding intelligence to their already existing contact centre solution. It makes use of the advanced technologies of Amazon so as to deliver more efficacious and customized services to customers.
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Some of the prominent organizations in the global call centre market comprise the below-mentioned:
- Bertelsmann SE & Co. KGaA
- Transcom Holding AB
- Sykes Enterprises Inc
- Hinduja Global Solutions Ltd Digital LLC
- Wipro Ltd
- TTEC Holdings Inc.
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