Global Customer Care Services Market: Introduction
Customer care services can be defined as direct one-on-one interaction between a consumer purchase a product and a representative of the company that is selling the product. These services help in customer satisfaction, brand empowerment, and customer repetition and retention. Even though AI-enabled bots are rapidly being adopted for interaction, one-on-one human interaction for addressing customer queries is still a major necessity.
Global Customer Care Services Market – Dynamics
Increasing Need for Customer Retention and Customer Repetition
Across the globe, the need to retain customers and increase the level of customer satisfaction has increased. Customer care service enables human interaction, which helps in achieving customer satisfaction. This, in turn, is driving the global customer care services market.
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Increasing Adoption of AI-enabled Bots Hampering Global Customer Care Services Market
Integration of customer care services with artificial intelligence (AI) to answer customer queries is expected to hamper the global customer care services market during the forecast period. Major players in the food & beverages delivery sector, such as Zomato, have already adopted the total AI-based customer support. With the increasing penetration of artificial intelligence (AI) in industries such as hospitality and food & beverages, the global market for customer care services is being hampered.
North America Expected to Dominate Global Customer Care Services Market
In terms of region, the global customer care services market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is expected to dominate the global customer care services market during the forecast period, due to availability of low-cost labor in the region.
COVID-19 Impact on Global Customer Care Services Market
The COVID-19 pandemic is expected to adversely impact the global customer care services market for a short-term period. This is because the demand for products and services has reduced drastically, due to lockdown. This, in turn, has resulted in decrease in the demand for customer care services.
Global Customer Care Services Market – Competition Landscape
- In May 2020, ServiceNow Safe Workplace, a four-app suite, was launched by ServiceNow, which is a leading digital workflow company. This suite would help enterprises to cope with the impact caused by the COVID-19 outbreak on workflow.
Syrow
Established in 2016, Syrow offers a complete suite of customer care services. The company provides customer services, tele-calling services, and semi-voice services. The company provides outsourcing services to industries such as IT & telecommunication, healthcare & life sciences, retail & consumer goods, manufacturing, BFSI, and media & entertainment.
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Global Customer Care Services Market: Segmentation
The global customer care services market can be segmented based on:
- Type
- Industry
- Region
Global Customer Care Services Market, by Type
Based on type, the global customer care services market can be divided into:
- In-house
- Outsourced
Global Customer Care Services Market, by Industry
Based on industry, the global customer care services market can be classified into:
- IT & Telecommunication
- Healthcare & Life Sciences
- Retail & Consumer Goods
- Manufacturing
- BFSI
- Media & Entertainment
- Government & Public
- Travel & Hospitality
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
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