Call Centre Market Projections: Envisioning a Robust 11% CAGR Towards US$ 88.2 Billion by 2033

The global call center market is set to generate US$ 31 billion in revenue in 2023 and is expected to reach a market value of US$ 88.2 billion by the conclusion of 2033. The demand for call centers is forecasted to grow rapidly at an annual growth rate of 11% from 2023 to 2033.

Call centres account for 60% of the global customer service market. Lead-gen call centres have substantially increased in demand and are expected to have a bright outlook over the coming years.

The US market is characterized by a robust infrastructure and a strong focus on customer satisfaction. As the demand for lead-generation call centres continues to rise, businesses across the country are gearing up to tap into this lucrative opportunity. However, challenges related to data security and employee turnover persist, prompting companies to invest in cutting-edge solutions and employee retention strategies. Overall, the US remains a key player in the global call centre market, with promising growth prospects in the coming years.

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A positive customer experience is essential in the BFSI and consumer products businesses. These two end-user sectors are likely to have considerable demand for both inbound and outbound call centres. Further, customer experience is critical in persuading clients in various industries to pick among numerous organizations, hence boosting business income.

Many other businesses are maximizing their campaigns simply by permitting direct customer contacts via inbound and outbound call centers. Moreover, some businesses are also using lead generation call centers to create leads and extend their business reach.

Global digitalization has resulted in a substantial rise in demand for broadband connections from ISPs and telecom providers. This has prompted numerous telecommunication providers to open new call centers and offer services to their consumers whenever they see fit or require assistance.

North America’s global call center Market is expected to account for a dominant market share over the projected period, currently accounting for 39% of the worldwide landscape. The highly profitable BFSI business is likely to push this region’s call center market potential

Key Takeaways from the Call Centre Market Report:

  • Europe’s call center market is estimated to account for 20% of the global industry landscape by 2023.
  • The market expanded at a CAGR of 9% during the last five years.
  • The United States is home to almost 55% of the world’s call centers.
  • Sales in India are expected to thrive at an 8.5% CAGR by 2033.
  • The on-premise segment is estimated to account for 40% of the worldwide call centre industry by the end of 2033.

Competitive Scenario:

Call centre companies are focusing on the BFSI and retail industries since customer experience is a critical component of their business model. Also, to increase income possibilities, call center organizations are also working on increasing their service reach across several geographies.

In April 2022, Five9 announced a broad strategic partnership with Deloitte Canada, an independent firm under the Deloitte brand that provides a complete variety of integrated services and outstanding skills to both private and public consumers across numerous sectors.

In February 2022, Thrive and Genesys formed a partnership to help companies battle the employee burnout crisis. Genesys Thrive reset enables firms to include well-being breaks into their work process, resulting in happy employees and better client experiences.

Competitive Landscape – Regional Trends:

In the intensely competitive call centre market, regional trends play a crucial role. Different regions exhibit distinct dynamics. North America, with its established market and technological infrastructure, remains a dominant force. Meanwhile, Asia-Pacific is emerging as a key growth region, owing to its cost-effective labor pool and rising demand for outsourcing. Europe, on the other hand, is witnessing a surge in multilingual call centres, catering to a diverse customer base.

Region-wise Insights – Category-wise Insights:

Regionally, North America leads the call centre market due to its mature infrastructure and high demand for advanced customer service solutions. Meanwhile, the Asia-Pacific region is experiencing substantial growth, driven by the increasing adoption of call centre outsourcing by businesses looking to cut costs. In terms of categories, lead-generation call centres are expected to maintain a strong growth trajectory, while customer service-focused call centres continue to be the backbone of the industry.

Leading Key Players:

  • 3CLogic
  • Genesys
  • 8×8 Inc.
  • Cisco Systems Inc.
  • Salesforce Inc.
  • IBM Corporation
  • SAP
  • Aspect Software Inc.
  • Avaya Inc.
  • Five9 Inc.
  • Enghouse Interactive
  • Alcatel-Lucent Enterprise
  • NICE inContact
  • Bright Pattern Inc.

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Call Centre Market Segmentation:

By Component:

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

By Deployment:

  • On-premise
  • Cloud-based
  • Hybrid

By Vertical:

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

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East & Africa (MEA)

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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