Advancements in telecom sector to boost call center market

The global call center market is predicted to reach a value of US$ 47.6 Bn in 2029, with sales growing at a robust CAGR of 10.8% from 2022 to 2029. Driven by the need for lead generation as well as providing customer service, the market for call centers will likely reach an estimated US$ 22.2 Bn by the end of 2022. Creating awareness about upcoming offers, receiving feedback, and increasing the consumer base are factors that help expand the scope of the target market during the forecast period.

In the past few years, contact centers worldwide have played a critical role in customer support. With more and more companies escalating their efforts on delivering quality customer support and establishing customer loyalty to gain competitive advantage, the scope of growth for call centers also increased. Thus, the market for call centers recorded heightened demand in the past decade and registered a high CAGR of 8.9% during 2014-2021.

Since brands and businesses all over the world are concentrating on providing superior customer service, inbound call centers have witnessed a notable growth in demand. A huge portion of businesses and enterprises are investing in these establishments to develop long-lasting customer associations and amplify their business models.

With good customer experience being the main element of a prosperous business model, it has continued to govern the BFSI and consumer goods industries. These two end-use industries are anticipated to harbor heightened demand for inbound call centers as well as outbound call centers. Customer experience plays a crucial role in influencing customers and increasing business revenue.

In addition to this, growing digitization across the world has resulted in a marked increase in demand for internet services from ISPs as well as telecom corporations. This, in turn, has induced many telecom companies to establish new call centers and deliver customer care and support services to their customers whenever required. All of these considerations foster an environment of growth for the call centers market over the forecast period.

CT Bureau