Recent Advancements in Telecom Sector will Boost Call Center Market to Reach US$ 47.6 Bn by 2029. Get Latest Analytical Data from Future Market Insights, Inc.

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Oct 17, 2022, 10:30 ET

Digitization has led to an increase in demand for Internet services from ISPs as well as telecom companies. This encourages many telecom firms set up new call centers and provide their customers whenever they see fit or need assistance.

NEWARK, Del., Oct. 17, 2022 /PRNewswire/ -- The global call center market is predicted to reach a value of US$ 47.6 Bn in 2029, with sales growing at a robust CAGR of 10.8% from 2022 to 2029. Driven by the need for lead generation as well as providing customer service, the market for call centers will likely reach an estimated US$ 22.2 Bn by the end of 2022. Creating awareness about upcoming offers, receiving feedback, and increasing the consumer base are factors that help expand the scope of the target market during the forecast period.

In the past few years, contact centers worldwide have played a critical role in customer support. With more and more companies escalating their efforts on delivering quality customer support and establishing customer loyalty to gain competitive advantage, the scope of growth for call centers also increased. Thus, the market for call centers recorded heightened demand in the past decade and registered a high CAGR of 8.9% during 2014-2021.

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Since brands and businesses all over the world are concentrating on providing superior customer service, inbound call centers have witnessed a notable growth in demand. A huge portion of businesses and enterprises are investing in these establishments to develop long-lasting customer associations and amplify their business models.

With good customer experience being the main element of a prosperous business model, it has continued to govern the BFSI and consumer goods industries. These two end-use industries are anticipated to harbor heightened demand for inbound call centers as well as outbound call centers. Customer experience plays a crucial role in influencing customers and increasing business revenue.

In addition to this, growing digitization across the world has resulted in a marked increase in demand for internet services from ISPs as well as telecom corporations. This, in turn, has induced many telecom companies to establish new call centers and deliver customer care and support services to their customers whenever required. All of these considerations foster an environment of growth for the call centers market over the forecast period.

"Elevated Demand from consumer goods and the BFSI sector will drive the global growth of the call center market over the forecast period," says an FMI analyst.

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Key Takeaways:

Expanding the telecom industry and deep internet penetration will stimulate market prospects.
Europe holds about 19.8% of the global call center market share.
A dense population coupled with extremely low operations costs drives the growth of the target market in India.
North America holds 38% share of the overall call centers market.
The U.S. houses about 50% of all the call centers in the world.
By deployment, the on-premise segment will continue to dominate the market during the assessment period.

Competitive Landscape

3CLogic, Genesys, 8x8 Inc., Cisco Systems Inc., Salesforce Inc., IBM Corporation, SAP, Aspect Software Inc., Avaya Inc., Five9 Inc., Enghouse Interactive, Alcatel-Lucent Enterprise, AMEYO, NICE inContact, Bright Pattern Inc., among others are some of the major players in the call center market profiled in the full version of the report.

Key market players are concentrating on providing their services primarily to BFSI and the consumer goods industry. These organizations are keen on extending their services to different geographical areas so as to increase their revenue share.

More Insights into Call Center Market Report

In its latest report, FMI offers an unbiased analysis of the global call center market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2029. To understand the global market potential, growth, and scope, the market is segmented on the basis of components (solutions/ software (Automatic Call Distributors, Interactive Voice Response, Intelligent Call Routing, Computer Telephony Integration, Reporting & Analytics, Intelligent Virtual Assistants, Call Centre Workforce Optimization), software (professional services), consulting & training, integration & deployment, support & maintenance (managed services)), deployment (on-premise call centers, cloud-based call centers, hybrid call centers), vertical (call centers for BFSI, call centers for retail & consumer goods, call centers for IT & telecom, call centers for media & entertainment, call centers for government, call centers for healthcare, call centers for travel & hospitality), and region.

According to the latest FMI reports, based on segmentation, on-premise call centers are immensely preferred by huge corporations and are quickly gaining momentum with SMEs as it ensures data security and confidentiality as well as better administration. Hence, the on-premise call center deployment will dominate the market over the next ten years.

Based on region, the United States will present substantial growth in the call centers market due to the presence of major market players and the growing focus on generating quality leads in this area. The country houses nearly 50% of all the call centers in the world. Apart from the U.S., India, too will exhibit exponential growth potential in the call centers market. This growth can be attributed to the affordable operational costs and easy availability of human resources in this region.

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Key Segments of Call Centre Industry Survey

Call Centre Market By Component:

Solutions/Software

Automatic Call Distributors
Interactive Voice Response
Intelligent Call Routing
Computer Telephony Integration
Reporting & Analytics
Intelligent Virtual Assistants
Call Centre Workforce Optimization

Software

Professional Services

Consulting & Training
Integration & Deployment
Support & Maintenance

Managed Services

Call Centre Market By Deployment:

On-premise Call Centres
Cloud-based Call Centres
Hybrid Call Centres

Call Centre Market By Vertical:

Call Centres for BFSI
Call Centres for Retail & Consumer Goods
Call Centres for IT & Telecom
Call Centres for Media & Entertainment
Call Centres for Government
Call Centres for Healthcare
Call Centres for Travel & Hospitality
Others

Call Centre Market By Region:

North America Call Centre Market
Latin America Call Centre Market
Europe Call Centre Market
East Asia Call Centre Market
South Asia & Pacific Call Centre Market
Middle East & Africa (MEA) Call Centre Market

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Innovation / Development Trends

4. Global Call Centre Market Demand (in Value in US$ Mn) Analysis 2014-2021 and Forecast, 2022-2029

4.1. Historical Market Value (US$ Mn) Analysis, 2014-2021

4.2. Current and Future Market Value (US$ Mn) Projections, 2022-2029

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Data Centre Security Market: The global data center security market is expected to exhibit a CAGR of 11.1% from 2018-2028.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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SOURCE Future Market Insights