Global CRM Outsourcing Market is Predicted to Increase Approximately $32.1 Billion by 2030

Global CRM Outsourcing Market to grow $32.1 billion by 2030

The global CRM outsourcing market size was nearly $13.2 Billion in 2022 and is predicted to increase to approximately $32.1 Billion by 2030 along with registering a CAGR of nearly 5.2% from 2023 to 2030.

Customer relationship management also abbreviated as CRM helps in effectively creating, implementing, and assessing strategies for effectively managing customer relationships. With the assistance of CRM, any business can proficiently deal with consumer problems along with addressing their satisfaction. Reportedly, the emergence of CRM outsourcing is due to a humungous need for delivering effective CRM solutions. Furthermore, CRM outsourcing activities are witnessing a deep penetration in large-scale & mid-sized enterprises as it offers a slew of benefits and reduces operational costs of the enterprises. For the record, IT & management systems, billing systems, enterprise risk management systems, and CRM systems are outsourced from one firm to another firm.

Expensive in-house customer support and management services will prompt the expansion of the CRM outsourcing market in the upcoming years. In addition to this, the surging acceptance of CRM outsourcing activities owing to the need for improving sales processes, reducing business risks, enhancing competitiveness, and automating data entry operations will drive the global CRM outsourcing market trends. Furthermore, the need for saving operational costs will expand the scope of the growth of the CRM outsourcing industry globally. Growing necessity of improving consumer experience and the rise in advancements related to big-data-driven CRM systems will promulgate the expansion of the global market.   

However, the huge training costs related to CRM outsourcing and the cultural differences & language barriers can pose a threat to the global CRM outsourcing industry expansion. Nonetheless, the integration of various media channels, social media tools, video chatting, and smartphone applications has opened new vistas of growth for the global industry, thereby offsetting the impact of hindrances on the industry across the globe.

The global CRM outsourcing market is divided into services, end-user industry, and region. 

In terms of services, the CRM outsourcing market globally is segmented into telemarketing services, order management services, customer services, and technical support services segments. Furthermore, the customer services segment is predicted to account for the largest market share over the assessment timeframe. The segmental expansion can be attributed to the need for improved after-sales services along with the need for increasing earnings.

On basis of end-user industry, the CRM outsourcing industry across the globe is bifurcated into BFSI, government, healthcare, utility, insurance, travel & hospitality, retail, manufacturing, and education segments. Moreover, the BFSI segment is anticipated to dominate the end-user industry landscape over the upcoming years. The segmental expansion can be owing to the penetration of CRM solutions for improving operations across the BFSI segment. With the rise in the outsourcing of CRM functions and other repetitive tasks of the banking sector of developed countries to the firms in emerging economies such as India and the Philippines, the market for CRM outsourcing is likely to gain traction, with the BFSI segment contributing majorly towards the industry growth.

The CRM outsourcing market in the Asia-Pacific region is slated to acquire a major chunk of the global market share in the coming years. Furthermore, the regional market surge in the forthcoming timespan is subject to an increase in outsourcing of various CRM processes by firms of developed countries of Europe, Australia, and North America to Asian countries such as India and the Philippines. Moreover, the Philippines and India are the key offshoring and call center destinations of the Asia-Pacific zone and this is likely to create new growth opportunities for the CRM outsourcing market in the region.

Furthermore, the CRM outsourcing industry in Europe is poised to register humungous growth in the coming years. The growth of the industry in the continent can be due to the rise in the use of digital systems by small-sized and mid-sized firms in the countries such as the UK, Germany, Italy, France, Luxembourg, Norway, Finland, Sweden, and Estonia. Furthermore, these European countries require modern analytical systems and upgraded CRM solutions, thereby generating huge demand for outsourcing CRM solutions to the firms of emerging countries. This, in turn, will contribute majorly toward the size of the CRM outsourcing industry in the region.

This review is based on a report by Zion Market Research, titled “CRM Outsourcing Market By Services (Telemarketing Services, Order Management Services, Customer Services, And Technical Support Services), By End-User Industry (BFSI, Healthcare, Utility, Travel & Hospitality, Retail, Government, Manufacturing, Insurance, And Education), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/crm-outsourcing-market

Recent Developments:

• In February 2023, Atento S.A., a global provider of business process outsourcing and customer relationship management services, declared that it reached an agreement with current investors for creating additional finances for the firm. The move will help in the swift expansion of the CRM outsourcing business in Spain and across Europe.
• In March 2023, Arvato CRM Solutions, a UK-based player offering customer & back-office processing services, decided to expand its CRM business in South Africa with the help of Techsembly, an e-commerce platform firm. The initiative will assist the firm in expanding its business portfolio in Africa, thereby increasing its revenue gains.

Key players in the global CRM outsourcing market include:

• 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

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