CRM Outsourcing Market Size, Share, Trends, Growth 2030

CRM Outsourcing Industry Perspective:

The global CRM outsourcing market size was evaluated at $13.2 Billion in 2022 and is slated to hit $32.1 Billion by the end of 2030 with a CAGR of nearly 5.20% between 2023 and 2030.

The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketplace. The report covers the geographical market along with a comprehensive competitive landscape analysis. Additionally, the report explores the investor and stakeholder space to help companies make data-driven decisions.

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Global CRM Outsourcing Market: Synopsis

Outsourcing is a method where a firm selects a proficient vendor or third-party service provider for efficiently managing as well as operating its CRM (customer relationship management) unit. Outsourcing of CRM activities has evolved as a potential solution for raising the demand for high-quality CRM activities.  Moreover, CRM outsourcing operations have proved to be a reliable & key service that helps in the fulfillment of the escalating requirements for standard CRM functions accompanies by the corresponding increasing costs. The CRM market is undergoing a paradigm shift because of the inclusion of newer service offerings through social media tools and modern communication. Apart from this, CRM operations offer flexibility to end-users and the workforce This has created a huge demand for CRM outsourcing activities.

Key Insights

• As per the analysis shared by our research analyst, the global CRM outsourcing market is projected to expand annually at the annual growth rate of around 5.20% over the forecast timespan (2023-2030)
• In terms of revenue, the global CRM outsourcing market was evaluated at nearly $13.2 billion in 2022 and is expected to reach $32.1 billion by 2030
• The global market is anticipated to record massive growth over the forecast period with huge costs of in-house customer support and management has resulted in demand for CRM outsourcing activities
• Based on services, the customer services segment accounts for the major market share over the forecast period
• In terms of the end-user industry, the BFSI segment is predicted to account for a major share of the global market during the analysis timeframe.
• Region-wise, the Asia-Pacific CRM outsourcing market is projected to contribute majorly towards the global market share over the assessment timespan.

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CRM Outsourcing Market: Growth Factors

Growing acceptance of CRM outsourcing services due to its beneficial features to spur global market expansion over 2023-2030

Huge costs of in-house customer support and management have resulted in demand for CRM outsourcing activities, thereby steering the growth of the global CRM outsourcing market. The massive need for improving the automation of CRM processes with the purpose of increasing the operational efficiency of the processes has driven global market trends. Massive adoption of CRM outsourcing solutions owing to its high competitiveness, optimizing sales procedures, and reduction in operational costs will drive the expansion of the CRM outsourcing market globally in the years to come. In addition to this, breakthroughs in big-data-driven CRM systems have assisted the firms in catering to huge data volumes along with enhancing the end-user experience, thereby boosting the market space.

CRM Outsourcing Market: Hindrances

High training costs and huge spending pertaining to CRM outsourcing activities impede the global industry surge

Huge training costs and expenditures related to CRM outsourcing can be a big hindrance in the path of growth for the global CRM outsourcing industry in the years ahead.

CRM Outsourcing Market: Opportunities

Escalating awareness about the benefits offered by CRM Outsourcing solutions will open new vistas of growth for the market across the globe

CRM operations offer flexibility to both customers and staff and this will open new avenues of growth for the global CRM outsourcing market.

CRM Outsourcing Market: Challenges

Cultural & Demographic industries to prove the biggest challenge for the global CRM outsourcing industry

Cultural and demographic differences between the client and the vendor to which CRM activities are outsourced can pose a huge challenge to the expansion of the global industry.

CRM Outsourcing Market: Segmentation

The global CRM outsourcing market is sectored into services, end-user industries, and regions.

In terms of services, the global CRM outsourcing market is divided into telemarketing services, customer services, order management services, and technical support services segments. Apparently, the customer services segment is set to dominate the segmental growth during the forecast timeline. The segmental surge can be credited to the rise in competition, the need for increasing sales, and reducing operating costs.  

Based on the end-user industry, the global CRM outsourcing industry is bifurcated into BFSI, healthcare, utility, travel & hospitality, retail, government, insurance, manufacturing, and education segments. Furthermore, the BFSI segment, which garnered the largest share of the global industry in 2022, will continue to retain its numero uno position even in foreseeable future. The growth of the segment over the anticipated timespan can be due to escalating acceptance of CRM services for enhancing operations across the banks, finance, and insurance sectors. Outsourcing of banking functions is gaining momentum with growing access to big data specialists. This will enhance the demand for CRM outsourcing solutions in the BFSI segment.

Recent Breakthroughs

• In February 2023, Transcosmos Inc., a key outsourcing firm across the globe, and NetSuite Inc, a U.S.-based cloud enterprise software firm, to provide Oracle NetSuite Solutions to the customers. The move is predicted to help the customers take advantage of strong cloud ERP systems along with gaining visibility and control in the market. The initiative will boost the global CRM outsourcing business trends.
• In the first quarter of 2023, Prosperix, a workforce innovation firm, extended its VMS network for providing various businesses with a marketspace of vendors and talented workforce to fill new posts in their firms. The VMS network also referred to as Crowdstaffing hiring marketspace makes use of AI tools for streamlining the process of hiring along with reducing the hiring expenditure and speeding up the hiring process. Furthermore, the move is predicted to contribute significantly to the growth of the CRM outsourcing industry in the coming years.

CRM Outsourcing Market Report Scope:

CRM Outsourcing Market: Regional Insights 

CRM outsourcing market in the Asia-Pacific To account for the largest share of the global market by 2030

The Asia-Pacific region, which contributed a major share of the overall CRM outsourcing market in 2022, is set to maintain its regional market domination during the forecast timeframe. The growth of the regional market in the ensuing years can be owing to escalating digitization of core processes in countries such as India, Japan, China, Taiwan, and South Korea. Apart from this, countries such as the Philippines and India are key call center destinations as well as offshoring destinations. This has contributed majorly to the regional market size.

Furthermore, the European CRM outsourcing industry is projected to witness tremendous growth over the forecasting timeframe. The regional market growth over 2023-2030 can be credited to the growing use of digital systems in small & medium-scale enterprises. Reportedly, these enterprises are making use of advanced analytical tools and CRM solutions. These aspects will exponentiate the expansion of the CRM outsourcing industry in Europe in the coming decade.

Moreover, North America will account lucratively toward the global market share during the forecast timeline. The regional market surge can be subject to the rising need for effective client management activities. The U.S. and Canada are the key markets for CRM outsourcing activities in the region of North America. Furthermore, North America has always been and will always remain a profitable market for CRM outsourcing vendors with the sub-continent being the first-mover and early adopter of new technologies in the technology domain. The rate of generating the data and consuming it is among the highest in the North American sub-continent. Apart from this, the sub-continent has witnessed a massive surge in investment in outsourcing units.

CRM Outsourcing Market: Competitive Space

The global CRM outsourcing market profiles key players such as:

• Dell Inc.
• Xerox Corporation
• HCL Technologies Ltd.
• Allscripts Healthcare Solutions Inc.
• Concentrix
• Aegis
• Anthelio Healthcare Solutions
• Wipro Limited.
• Siemens AG
• Infosys Limited
• Mckesson Corporation
• AMDOCS
• IBM Corporation
• Tata Consultancy Services Ltd.
• Hewlett-Packard Company
• Cognizant Technology Solutions
• Accenture PLC.

The global CRM outsourcing market is segmented as follows:

By Component

• Solution
•  Services

By Type

• Fixed
• Mobile

By Vertical

• Transportation & Logistics
• Retail
• Healthcare & Lifesciences,
• Government & Defense             
• BFSI
• Media & Entertainment
• Industrial Manufacturing

By Organization Size

• Large Enterprises
• Small & Medium Enterprises (SMEs)

By Service

• Deployment and Integration Services
• API Management and Testing Service
• Support and Maintenance Services
• Consulting & Advisory Services

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa