Good communication strategy is paramount in financial institutions in order to determine efficiency and profitability. As the banking, financial services and insurance (BFSI) sector flourishes, customer experience continues to remain the key value proposition that influences customers to choose between various financial institutions.

In 2027, the deployment of call centres in the BFSI industry will click US$ 10 Bn. Furthermore, the retail & consumer goods industry is accelerating its shift toward omnichannel call centre solutions to deliver a personal touch to customer interactions, while offering support and services.

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“Digital channels such as email, web chat, SMS, and social media have opened new doors for the growth of the call centre market. Moreover, with the integration of digital technologies, the success of call centres is now being measured by new metrics, which reflects their critical role in overall business performance.”

Key Takeaways of Call Centre Market Study

• North America and Asia Pacific are key markets holding a significant share in the global call centre market. Increasing digitalization and growth in number of call centres are the factors driving the growth of the market in these regions.
• The software/solutions segment is expected to hold a significant share in the global call centre market. Rising demand for solutions such as interactive voice response, intelligent call routing, and automatic call distributors are factors driving the growth of the software/solutions segment.
• By deployment, the cloud-based segment is anticipated to retain its significant share in the global call centre market over the forecast period. Various call centre organizations are adopting cloud-based solutions to easily manage their daily operations and keep pace with the changing business landscape.
• The retail and consumer goods vertical is expected to witness high growth, as retailers are moving towards omni-channel call centre solutions to offer a personal touch to customer interactions, while offering their support and services.

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FREQUENTLY ASKED QUESTIONS ABOUT CALL CENTRE MARKET

How is the call centre market expected to shape up over the next decade?

The call centre industry has been undergoing significant technological, economic, and social changes. Over the last few years, consumers have become more empowered and knowledgeable than ever before, and therefore, expectations for better customer service, technical support, and sales knowledge continue to soar. With the digital transformation of call centres and adoption of new technologies such as Artificial Intelligence (AI), IoT (Internet of Things), and Knowledge Management (KM), the call centre industry expected to boom in the coming years.

How are Cloud-based Call Centre Solutions Impacting Market Growth?

The cloud model has seen exceptional growth and demand in the call centre market over the past few years. As call centre organizations are focusing on growing beyond their traditional technologies, they are opting for hosted and cloud solutions to save costs, and at the same time, modernize and future-proof their call centre technology.

What are the current challenges for the growth of the call centre market?

Budgetary constraints and high costs involved in adopting and effectively using new call centre technologies are the key challenge for the growth of the call centre market. Furthermore, difficulty in integration of legacy software systems and ever-changing customer expectations are some other major challenges for the growth of the call centre market.

Which vertical will offer the most lucrative growth opportunities for market players?

The retail and consumer goods vertical is expected to create potential growth opportunities for the call centre market. Retail and consumer goods companies are continuously moving towards enhancing their brand presence to provide better customer support to clients.

Which region is expected to lead the global call centre market?

North America is anticipated to remain at the forefront, offering high growth opportunities for players in the call centre market. However, Asia Pacific and Latin America are expected to create potential growth opportunities for the call centre market, owing to the low telecom rates, rising penetration of the Internet, and a large pool of educated, bilingual agents in various countries of these regions.

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CALL CENTRE MARKET TAXONOMY

The global call centre market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

Component

• Solutions/Software
  • Automatic Call Distributor
  • Interactive Voice Response
  • Intelligent Call Routing
  • Computer Telephony Integration
  • Reporting & Analytics
  • Intelligent Virtual Assistant
  • Call Center Workforce Optimization
• Services
  • Professional Services
    • Consulting & Training
    • Integration & Deployment
    • Support & Maintenance
  • Managed Services

Vertical

• BFSI
• Retail & Consumer Goods
• IT & Telecom
• Media & Entertainment
• Government
• Healthcare
• Travel & Hospitality
• Others

Deployment

• On-premise
• Cloud-based
• Hybrid