The CRM BPO by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s CRM BPO, The crm bpo market size has grown steadily in recent years. It will grow from $108.34 billion in 2023 to $111.05 billion in 2024 at a compound annual growth rate (CAGR) of 2.5%. The growth in the historic period can be attributed to business scalability, cost efficiency, focus on core competencies, globalization of business, enhanced customer experience.
The crm bpo market size is expected to see steady growth in the next few years. It will grow to $126.57 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to evolving customer expectations, data analytics and insights, multichannel customer engagement, flexibility and agility, industry-specific expertise. Major trends in the forecast period include personalization and targeted marketing, globalization of crm operations, focus on employee training and skill development, automation for operational efficiency, strategic partnerships and collaborations.
The increasing demand for automation is expected to boost the growth of the CRM BPO market going forward. Automation refers to the technology that uses less human assistance to complete tasks. Customer satisfaction is increased by boosting the speed, efficiency, and accuracy of service delivery by automating manual operations across all outsourced front office services, including customer communications, marketing, and sales, hence, the increasing demand for automation is expected to boost the CRM BPO market. For instance, in April 2021, according to a report published by Zapier, a US-based software company that surveyed 2,000 U.S. knowledge workers from small and medium businesses, 63% of small and medium businesses (SMBs) claimed that automation helped their business quickly pivot in response to the pandemic. Currently, 66% of employees claim that automation at work enables them to concentrate on more innovative jobs and initiatives. Furthermore, 88% of SMBs conveyed that, automation helps them compete with larger businesses by enabling them to move more rapidly, close leads more quickly, spend less time on busywork, lower errors, and provide better customer service. Therefore, the increasing demand for automation is driving the growth of the CRM BPO market.
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The CRM BPO market covered in this report is segmented –
1) By Product: Back-Office Outsourcing, Front-Office Outsourcing
2) By Market Type: Large Enterprises, Small And Medium Enterprises
3) By Application: Telecom And Information Technology (IT), Banking, Financial Services and Insurance (BFSI), Healthcare And Life Sciences, Government And Public, Retail And Consumer Goods, Other Applications
Top Major Players:
- Alorica Inc.
- Atento S.A.
- Comdata Corporation
- System International Telemarketing
- Sykes Enterprises Incorporated
North America was the largest region in the CRM BPO market in 2023.
Product innovation is the key trend gaining popularity in the CRM BPO market. Major companies operating in the CRM BPO market are focusing on developing innovative solutions to gain a competitive edge in the market. For instance, in June 2021, Intellinetics, Inc., a US-based content services software company, launched its new Business Process Outsourcing (BPO) services. The unique feature of this service is its capacity to adapt to the changing needs of current clients and broaden its service portfolio into new markets. The integrated solutions from Intellinetics are a strategic and seamless expansion of their core competencies in document conversions, digital and paper-based mail processing, enterprise content management solutions, and records storage and retrieval. They are supported by Accounts Payable invoice processing, digital mailroom services, and claims processing.
The crm bpo market report table of contents includes:
1. Executive Summary
2. CRM BPO Market Characteristics
3. CRM BPO Market Trends And Strategies
4. CRM BPO Market - Macro Economic Scenario
5. Global CRM BPO Market Size and Growth
…….
26. Global CRM BPO Market Competitive Benchmarking
27. Global CRM BPO Market Competitive Dashboard
28. Key Mergers and Acquisitions In CRM BPO Market
29. CRM BPO Market Future Outlook and Potential Analysis
30. Appendix
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