Customer Contact Market Report
Outsourcing still provides meaningful cost savings, representing roughly 20% of the total market with approximately 2.0 million outsourced agents located primarily in India and the Philippines.
Technology developments, vendor pruning, and consumer demand push providers to expand their product, service, and channel offerings.20
M&A activity expected to increase steadily in 2017 as corporate profits and consumer spending increases.
FCC onshoring initiatives continue to create jobs within big industry players via organic growth and acquisitions.19
Steady growth opportunities on a go-forward basis as the global customer contact management market is expected to grow to $81 billion by 2018 representing a CAGR of 6.1%.
U.S. based healthcare legislative changes and requirements will increase costs and complexity of compliance.
2015 YEAR IN REVIEW
Advancing technology and differentiation boost growth rates
2015 was an exciting year for the Customer Contact Management (CCM) industry, with huge strides in technology, automation, differentiation, and omni-channel diversification. Customers want to use the channel that most quickly solves their problems, including voice, chat, text, and social media. Corporate services expanded their technology offerings making large technological advances, as witnessed with Amazon's new Alexa -- a virtual assistant that can answer a wide variety of questions from weather to traffic. These technological advances around automation create a surge of efficiency and growth opportunities for CCM businesses. According to International Customer Management Institute (ICMI), nearly 55% of customers want an automated self-service experience, increasing efficiency and decreasing costs for businesses. In addition, 80% of companies plan to use customer service as a way to differentiate themselves from their competition.4