Contact center market to reach $420Bn by 2025
NORTH CAROLINA, UNITED STATES — The global contact center services market is forecasted to reach US$400-US$420 billion between 2022 to 2025 at a compound annual growth rate (CAGR) of 3-4%.
According to a new analysis by procurement intelligence firm Beroe, the industry would be driven by the growing customer care outsourcing demand in North America, Europe, the United Kingdom (UK), Australia, and Japan.
Other trends affecting the sector’s growth include the increasing shift towards onshore and nearshore locations, the adoption of outcome-based pricing models, AI utilization, and the push for more work-from-home arrangements.
Multilingual hubs are also becoming more popular as businesses look to tap into the cost advantages of economies of scale. By outsourcing their CX tasks, businesses can improve their ability to communicate with global customers in their preferred language.
Finally, the adoption of cloud-based contact centers is also on the rise. These cloud-based solutions offer the added benefit of scalability and the ability to quickly adapt to changing business needs and customer demands.
Beroe also revealed that the global contact center services market was valued at US$380 billion last year, with 75-70% of services kept in-house and the remaining 25-30% outsourced to third parties.
