Global call center outsourcing market to grow by US$14.05 Bn in 2020-2025
The global call center outsourcing market is expected to increase by US$14.05 billion between 2020 and 2025, said global technology research and advisory company Technavio.
In a report, the research firm observed a year-on-year market growth of 3.12% in 2021. This growth momentum is expected to accelerate at a CAGR (compound annual growth rate) of 3.34% during the forecast period.
Technavio revealed that 35% of the market growth will originate from the Asia Pacific (APAC) region due to the fast development of local call centers and the rising demand for customer relationship management from end-user industries.
Meanwhile, the report also showed that a growing number of vendors are adopting the M&A (mergers and acquisitions) strategy and entering into partnerships with other players to expand their product portfolio, enter emerging markets, and boost their market share.
The rise of emerging countries as call center destinations has also been instrumental in driving the growth of the market. However, low employee engagement and the shutdown of call centers might hamper the market growth.
