New York, June 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Telephone Call Centers Global Market Report 2023" - https://www.reportlinker.com/p06464171/?utm_source=GNW
A, Sykes Enterprises Inc., Nextiva, and Fusion BPO Services.
The global telephone call centers market is expected to grow from $145.12 billion in 2022 to $149.55 billion in 2023 at a compound annual growth rate (CAGR) of 3.1%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The telephone call centers market is expected to reach $160.33 billion in 2027 at a CAGR of 1.8%.
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.
A telephone call center refers to a customer support facility where staff members of a business answer queries, provide technical help, or receive orders over the phone. Call centers can be found inside a company or are assigned to a different business that specializes in answering calls.
North America was the largest region in the telephone call centers market in 2022. The regions covered in telephone call center report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of telephone call centers are solutions or software, software, consulting and training, integration and deployment, and support and maintenance.A call center solution is a technology that aids inbound and outbound activities in any customer service center or cloud contact center.
These are deployed by cloud-based call centers, hybrid call centers, and on premise call centers for various verticals including banking, financial services, and insurance (BFSI), retail and consumer goods, IT and telecom, media and entertainment, government, healthcare, travel and hospitality, and others.
The rise in the number of e-commerce vendors is expected to propel the growth of the telephone call center market in the coming future.E-commerce vendors refer to businesses and individuals that purchase and resell products and services online.
E-commerce-related activities are performed on computers, tablets, cellphones, and other smart devices, and it operates in various market categories.E-commerce firms employ call center services to assist clients in making decisions about online purchases, resolving issues, and fostering a smooth customer experience.
So, the increase in the e-commerce sector boosts the demand for telephone call centers. For instance, in August 2021, according to the Annual Retail Trade Survey (ARTS), a report published U.S. Census Bureau, a US-based government agency, E-commerce sales in the U.S. rose from $571.2 billion in 2019 to $815.4 billion in 2020, a surge of $244.2 billion or 43%. Further, in February 2023, according to Ecommerce Europe, a Europe-based association for companies selling products and/or services online to consumers, France’s e-commerce sector (including products and services) generated €146.9 billion ($159.11 billion) in revenue in 2022, indicating a 13.8% growth over 2021. Therefore, the rise in the e-commerce market/vendors is driving the telephone call center market.
Technological adoption is the key trend gaining popularity in the telephone call center market.Major companies operating in the telephone call center market are focused on adopting innovative technologies to strengthen their position in the market.
For instance, in June 2022, Alorica Inc., a US-based customer experience management and BPO company, adopted real-time accent translation AI technology by entering into a partnership with Sanas. Alorica Inc. employs path-breaking AI technology to manage the difficulties of languages and accents while offering unbelievably excellent client experiences throughout its worldwide network. This Accent translation technology facilitates a better understanding of spoken language, improves proficiency in foreign languages, and resolves communication issues between international teams and clients. It allows CX service specialists to select a dialect that minimizes friction in real-time while maintaining the speaker’s originality. Sanas is a US-based software developer for linguistic translation using artificial intelligence (AI).
In August 2021, Sitel Group, a US-based customer experience management company, acquired Sykes Enterprises Inc. for approximately $2.2 billion. Through the acquisition, Sitel Group is now ranked among the top 3 global CX leaders, with more size, a broader global reach, and improved digital capabilities. This union considerably broadens global reach and the range of consumer goods and services. Sykes Enterprises Inc. is a US-based business process outsourcing company offering IT consultancy, business process outsourcing, and IT-enabled services, including customer care and technical support.
The countries covered in the telephone call center market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The telephone call centers market research report is one of a series of new reports 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.
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