Overview and Scope
Customer relationship management (CRM) refers to the managing main tasks in outsourced companies. CRM BPO (business process outsourcing) is used by businesses to help them draw in and convert leads, keep customers, and provide better services.
Sizing and Forecast
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..
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Segmentation & Regional Insights
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
North America was the largest region in the CRM BPO market in 2023. The regions covered in the crm bpo market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the CRM BPO market report are Alorica Inc., Atento S.A., Comdata Corporation, System International Telemarketing, Sykes Enterprises Incorporated, TTEC Holdings Inc., Teleperformance SE, Webhelp India Private Limited, Concentrix CVG Philippines Inc., Startek Inc., Amdocs Development Centre India LLP, Serco Group PLC, Infosys Limited, Accenture PLC, Hewlett Packard Enterprise company, Chinetek Group Co. Ltd., SyaRose Technology Services Inc., SAP SE, International Business Machines Corporation, Fujitsu Limited, Capgemini Service SAS, Cognizant Technology Solutions Corp., Dell Technologies Inc., Atos SE, HCL Technologies Ltd., Genpact Limited, Wipro Limited, Tech Mahindra Limited, Convergys Corporation, Arvato AG .
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
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31. Global CRM BPO Market Competitive Benchmarking
32. Global CRM BPO Market Competitive Dashboard
33. Key Mergers And Acquisitions In The CRM BPO Market
34. CRM BPO Market Future Outlook and Potential Analysis
35. Appendix
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