PUBLISHER: The Business Research Company | PRODUCT CODE: 1409846
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409846
“Telephone Call Centers Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on telephone call centers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for telephone call centers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The telephone call centers market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A telephone call center is a customer support facility where personnel handle inquiries, provide technical assistance, or manage orders via telephone. These centers can operate either within a company or as an outsourced service provided by specialized businesses focused on handling calls.
The primary components of telephone call centers include software solutions, consulting and training services, integration and deployment support, and ongoing maintenance. Call center solutions refer to technologies facilitating both inbound and outbound activities within customer service or cloud contact centers. These solutions are deployed across various types of call centers, such as cloud-based, hybrid, or on-premise setups. They cater to diverse industry verticals including banking, financial services, and insurance (BFSI), retail, IT and telecommunications, media and entertainment, government agencies, healthcare institutions, travel and hospitality, among others.
The telephone call centers market research report is one of a series of new reports from The Business Research Company that provides telephone call centers market statistics, including telephone call centers industry global market size, regional shares, competitors with a telephone call centers market share, detailed telephone call centers market segments, market trends, and opportunities, and any further data you may need to thrive in the telephone call centers industry. This telephone call centers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The telephone call centers market size has grown steadily in recent years. It will grow from $147.51 billion in 2023 to $151.06 billion in 2024 at a compound annual growth rate (CAGR) of 2.4%. The observed growth in the historical period can be attributed to several factors, including a rising demand for customer service, intensified market competition necessitating enhanced customer retention strategies, cost-effective measures and the outsourcing trend, globalization prompting the need for multilingual support services, and the widespread adoption of technology aimed at improving overall service quality in call centers.
The telephone call centers market size is expected to see steady growth in the next few years. It will grow to $164.51 billion in 2028 at a compound annual growth rate (CAGR) of 2.2%. The anticipated growth in the forecast period is expected due to a heightened focus on providing omnichannel customer experiences, increased attention towards employee training and well-being, the rise of remote work setups and virtual call centers, the utilization of data analytics to derive valuable customer insights, and a strong emphasis on regulatory compliance and data security within call center operations. Key trends projected for this period involve the delivery of personalized customer experiences, the integration of unified communications systems, bolstering cybersecurity measures, the expansion of self-service options for customers, and the strategic utilization of outsourcing and offshoring strategies in the call center industry.
The anticipated rise in the number of e-commerce vendors is poised to drive the growth of the telephone call center market in the future. E-commerce vendors, encompassing businesses and individuals engaged in online product and service purchase and resale, are instrumental in various market categories. E-commerce activities conducted on computers, tablets, smartphones, and other smart devices often rely on call center services to aid customers in making informed decisions, addressing concerns, and ensuring a seamless customer experience. As an example, Ecommerce Europe reported in February 2023 that France's e-commerce sector, inclusive of products and services, generated €146.9 billion ($159.11 billion) in revenue in 2022, representing a 13.8% growth over the previous year. This growth in the e-commerce market and the increasing number of vendors contribute to the heightened demand for telephone call centers, driving market expansion.
The ongoing growth of mobile phone usage is set to further propel the expansion of the telephone call center market. Mobile phone usage involves the utilization of mobile devices, such as smartphones and feature phones, for various purposes, including communication, internet access, and accessing information and applications. Mobile phones play a crucial role in facilitating telephone call center services, providing call center agents with enhanced productivity and availability. Mobile phones empower agents to efficiently assist, analyze, log, and manage help desk tickets. As of February 2023, Uswitch Limited reported that the UK experienced a 3.8% increase in mobile connections, reaching 71.8 million connections in 2022 compared to the previous year. With an expected UK population of 68.3 million by 2025, approximately 95% of individuals (around 65 million) are projected to own a smartphone. This sustained growth in mobile phone usage is a key driver for the expansion of the telephone call center market.
The telephone call center market is experiencing a prominent trend in technological adoption, with major companies actively embracing innovative technologies to enhance their market positions. In a noteworthy example, Alorica Inc., a US-based customer experience management and BPO company, entered into a partnership with Sanas in June 2022, adopting real-time accent translation AI technology. Alorica utilizes cutting-edge AI technology to address language and accent challenges, providing exceptional client experiences across its global network. The Accent translation technology by Sanas improves understanding of spoken language, enhances proficiency in foreign languages, and resolves communication barriers between international teams and clients. This technology enables customer experience service specialists to select a dialect in real-time, reducing friction while preserving the speaker's originality.
Major players in the telephone call center market are also concentrating on introducing advanced solutions with innovative features to gain a competitive advantage. An advanced call center with an innovative suite of features represents a customer-facing communications hub leveraging the latest technology to deliver improved customer service and streamline workforce operations. For instance, in June 2023, MightyCall, a US-based cloud-based call center solution provider, launched its new call center solutions tailored to meet the communication needs of businesses. The MightyCall Call Center solution, a cloud-based offering adaptable and scalable for small and medium-sized organizations, incorporates built-in artificial intelligence (AI). This AI technology checks call quality, manages the flow of incoming and outbound conversations, assesses performance, and routes calls to team members based on their roles and expertise. Additionally, it provides live call monitoring and separate workstations for supervisors and agents, setting it apart from competitors. These technological advancements underscore the commitment of major companies in the telephone call center market to leverage innovation for enhanced service delivery and operational efficiency.
In August 2021, Sitel Group, a US-based company specializing in customer experience management, successfully acquired Sykes Enterprises Inc. for an approximate amount of $2.2 billion. This strategic acquisition has propelled Sitel Group to be recognized as one of the top three global leaders in customer experience management. It has significantly increased their scale, expanded their global reach, and enhanced their digital capabilities. The union of these companies has notably broadened their global footprint and diversified their offerings across various consumer goods and services. Sykes Enterprises Inc., also based in the US, operates as a business process outsourcing company, providing IT consultancy, business process outsourcing, and IT-enabled services, particularly in customer care and technical support.
Major companies operating in the telephone call centers market report are Teleperformance SE, SYNNEX Corporation, Sitel Group, Transcom WorldWide AB, Atento S.A., Intrado Life & Safety Inc., TTEC Holdings Inc., Alorica Inc., IBM Corporation, FLEETCOR Technologies Inc., Serco Group Plc, Entel Call Center S.A., Sykes Enterprises Inc., Nextiva Inc., Fusion BPO Services LLC, Conduent Business Services LLC, Concentrix Corporation., TeleDirect Asia Pte Ltd, IN-Sound Telecom Pte Ltd, Eureka Call Centre Systems Pte Ltd, Open Access BPO LLC, Callnovo Technology Co. Ltd., Connect Centre Pte Ltd, Call Center - Stic Chile Ltda., Inovaze BPO Services, Outsource Consultants LLC, Helplama Inc., Peak Support Inc., SupportYourApp Inc., Helpware Inc., XACT Telesolutions LLC, America's Call Center LLC .
North America was the largest region in the telephone call centers market in 2023. The regions covered in the telephone call centers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the telephone call centers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The telephone call center market consists of revenues earned by entities by providing services such as communicating with the customers on behalf of the client or company for lead generation, customer retention, and surveying. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.