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Customer experience outsourcing is to focus on the core competencies of the enterprises. The outsourcing services helps in lowering the additional costs for the companies. The rising functional complexities at companies is creating a need for the outsourcing services. Also, expertise of outsourcing services helps in providing enhance customer services. The companies can provide balanced attention to the customers and the shareholders by adopting the customer outsourcing services.
The large enterprises are not being able to provide proper attention to the customers increasing queries, owing to the growing business. Thus, the large enterprises are rapidly adopting customer experience outsourcing services. Whereas, small and medium enterprises lack resources to provide dedicated customer services. This is further boosting the market growth.
Key Market Driver -
• The lack of resources to provide better customer services is likely to drive the customer experience outsourcing services market growth • The growing focus on customer services is driving the market growth
Key Market Restraint -
• Concern for customer data privacy is likely to hamper the market
Some of the players in the global market are Conectys, Teleperformance SA, Arise Virtual Solutions, wow24-7.io., Stream Global Services, GCS Agents, Unity Communications, Sitel Group, SunTec India, The Contact Company, OnBrand24, Talk2Rep among others. The companies are expanding the services by providing innovative customer services and investing in technology to cater challenges during pandemic.
Europe is expected to gain traction during the forecast period owing to the high cost associated with in-house services. The lower percent of headcount in the industries is also boosting the market growth in Europe. According to the EY’s Outsourcing in Europe report of 2020, the companies of UK, Germany, and Denmark are highly adopting the outsourcing services across the industries. North America is expected to dominate the market with maximum revenue share during the forecast period. The large enterprises are highly adopting the outsourcing services in the region. US is witnessing high growth owing to rising focus of enterprises on customer satisfaction. The dominating industries of the country such as BFSI, healthcare, IT and telecom are shifting towards outsourcing services to focus on the core competencies.
Asia Pacific is likely to witness rapid growth owing to the increasing industrial expansion in the region. The countries like China, India, and Japan are witnessing a high rate of customer interaction across the enterprises. In China, the growing number of global companies and enterprises are boosting the demand for customer experience outsourcing services. Latin America and Middle East and Africa to witness moderate growth in the customer experience outsourcing services market.
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