Wilmington,Delaware, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Global Contact Center Outsourcing Market was valued at US$ 82 billion in 2023 and is expected to grow at a significant CAGR of over 8.8% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview
Cloud sourcing is a contract in which a corporation pays a third-party cloud hosting provider to offer and support IT services that may otherwise be provided in-house. Cloud sourcing is similar to outsourcing however, cloud computing services are typically charged on a per-use utility model rather than an annual or monthly contract. Contact centers can interact with customers through a variety of methods, including voice, email, and chat.
Providing personalized experiences for clients is becoming increasingly crucial for organizations. Contact center outsourcing providers are utilizing cutting-edge technology such as artificial intelligence (AI) and data analytics to deliver specialized solutions that assist businesses in increasing customer pleasure and loyalty.
Customers want smooth interactions across multiple touchpoints as communication channels expand. Contact center outsourcing companies are increasing their capacity and mixing channels such as voice, email, chat, social media, and self-service options to give omnichannel assistance. This allows businesses to give dependable and practical client service, hence enhancing consumer satisfaction.
- According to a deep-dive market assessment by RationalStat, the global contact center outsourcing market has been analyzed based on market segments, including type, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global contact center outsourcing market covers market sizes based on market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global contact center outsourcing market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Contact Center Outsourcing Market: Segmental and Market Share Analysis
- Based on type, chat support is rapidly gaining traction and is expected to grow at a significant rate in the upcoming years, due to its availability and easy access.
- Based on application, in 2022, the retail segment dominated the market because of the growing E-commerce activities and online shopping and related concerns.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 82 billion |
| Market Size Forecast | US$ 148.1 billion |
| Growth Rate | 8.8% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global contact center outsourcing market include,
- In August 2023, Five9 launched its new Intelligent Virtual Agent (IVA) solution, which uses artificial intelligence to power customer service interactions.
- In July 2023, Genesys launched its new Genesys Cloud CX platform, which offers a comprehensive set of cloud-based contact center solutions.
- In June 2023, Avaya launched its new OneCloud platform, which offers a unified cloud-based communications and contact center solution.
Some of the prominent players and suppliers operating and contributing significantly to the global contact center outsourcing market growth include Atento SA, Sykes Enterprises, Incorporated, DATAMARK Inc., Scicom Berhad, Firstsource Solutions Limited, Teleperformance SA, TTEC Holdings Inc., Startek, and Hgs, among others.
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RationalStat has segmented the global contact center outsourcing market based on type, application, and region
- Global Contact Center Outsourcing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Email Support
- Chat Support
- Voice (Off-shore, On-shore)
- Other Services
- Global Contact Center Outsourcing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- BFSI
- Government and Defense
- Healthcare
- IT and Telecom
- Retail
- Manufacturing
- Others
- Global Contact Center Outsourcing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Contact Center Outsourcing Market
- US
- Canada
- Latin America Contact Center Outsourcing Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Contact Center Outsourcing Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Contact Center Outsourcing Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Contact Center Outsourcing Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Contact Center Outsourcing Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Contact Center Outsourcing Market
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Key Questions Answered in the Contact Center Outsourcing Report:
- What will be the market value of the global contact center outsourcing market by 2030?
- What is the market size of the global contact center outsourcing market?
- What are the market drivers of the global contact center outsourcing market?
- What are the key trends in the global contact center outsourcing market?
- Which is the leading region in the global contact center outsourcing market?
- What are the major companies operating in the global contact center outsourcing market?
- What are the market shares by key segments in the global contact center outsourcing market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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