A call center refers to a centralized department where both potential and existing customers are directed to make further enquiries, 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 efficient and quick solution for their issues. In cases of time-sensitive matters, call centers are their first point of contact for quick solution. In some companies or with certain brands, call center communication is the only way of grievance and query redressal. The growing importance of such services is likely to fuel growth of the global call center 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 relationship 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 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 of the market that gives a quick view of the dynamics pertaining to global call centre market is mentioned as below:
- In August 2020, a subsidiary of Hinduja Global Solutions Ltd, HGS Digital LLC, confirmed its participation as Amazon Web Services (AWS) Contact Center Intelligence (CCI) solutions Partner program. With the partnership, HGS Digital LLC, is anticipated to assist consumers in adding intelligence to their already existing contact center solution. It makes use of advanced technologies of Amazon so as to deliver more efficacious and customized servicers to customers.
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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Global Call Centre Market : Key Trends
The global call centre market is characterized by the presence of the following restraints, drivers, and opportunities.
Integration of Cloud Technology to Augur Well for the Market
In an effort to ascertain profitability and efficiency of business, it is essential to have good communication strategy in place, particularly in case of financial institutions. As BFSI (banking, financial services and insurance) prospers, offering enhanced customer experience becomes imperative as it helps consumers to choose between the competitive offerings of various financial institutions. In addition to BFSI, consumer and retail goods sector is make a rapid shift toward adoption of omnichannel call centre solutions so as to give personal touch to the interactions with customers at the time of offering services and support. These factors are anticipated to support expansion of the global call centre market over the period of analysis, from 2020 to 2030.
Several organizations are adopting cloud and cloud-based solutions to cut down costs and make the call centre infrastructure future-proof. Evolution in the way how cal centre services are provided are forcing these organizations to adopt the services of cloud platforms as to keep up with the changing landscape and leverage the benefits of technology. Cloud technology is capable of assisting the call centre with better management of payroll submission, marketing management, file sharing, management of supply chain, and communication within teams. Integration of cloud technology is anticipated to work in favor of the global call centre market in the near future.
Global Call Centre Market: Geographical Analysis
Asia Pacific is estimated to lead the global call centre market throughout the tenure of assessment, from 2020 to 2030. Countries like India, Bangladesh and China to lead the regional market. Availability of fluent English speakers together with inexpensive labor force is likely to fuel growth of the call centre market in Asia Pacific.
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