CRM Outsourcing Market To Witness Enhanced Growth Owing To Rising importance toward adoption of organizational-level align strategic planning Till 2022 | Million insights
The global CRM outsourcing market is subject to witness a substantial growth due to the rising demand for quality customer relationship management (CRM) activities and increasing costs associated with these activities. Growing importance toward adoption of organizational-level align strategic planning and increasing adoption of advanced operational strategies are expected to boost the growth of market over the forecast period. Globally, the market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the CRM outsourcing market.
CRM outsourcing is crucial to assign resources for the project development across various locations, thus propelling market growth over the coming years. In addition, CRM outsourcing helps organization to align their project planning with their business objectives in efficient manner. Increasing demand for CRM outsourcing solution from various end-user industry verticals are expected to fuel market expansion in the near future.
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Moreover, numerous benefits of CRM outsourcing solution include capacity optimization, lead-time, retaining customers and cost reduction. The technological advancement in the organizational level communication sector is expected to offer number of growth opportunities for industry participants over the forecast period. Increasing cost associated with in-house customer support is expected to favor market growth over the next seven years.
Growing demand for adoption of customer relationship management (CRM) for maintaining customer relation in earlier stages such as sales of technical services and products are anticipated to foster market expansion across the globe. However, rising cost of customer support and management services are expected to limit market growth to a certain extent.
The market is broadly categorized into six major segments based on the application type such as Banking, Financial services and Institutions (BFSI) sector, telecommunication industry, travel and hospitality industry, healthcare sector, retail industry, government sector, and manufacturing sector. The Banking, Financial services and Institutions (BFSI) sector is considered as one of the fastest growing segment in the CRM outsourcing market with substantial revenue generation in the last few years.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies, increase in the number of research & development activities in the region and existence of well-established infrastructure.
Asia-Pacific region is predicted to hold major market share in the CRM outsourcing market with massive growth in forecast period. Countries such as India, China, Malaysia, Philippines and Singapore are leading the Asia-Pacific market with increasing outsourcing activities, availability of skilled & cheaper talent pool, and significant investment by leading industry players considering potential growth opportunities in the region.
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The key players in the CRM outsourcing market are Accenture plc, Allscripts Healthcare Solutions, Inc., Anthelio Healthcare Solutions Co., Dell, Inc., Cognizant Technology Solutions Ltd., HCL Technologies Ltd., IBM Co., Hewlett-Packard Enterprises Co., Mckesson Co., Infosys Ltd., Siemens AG, Wipro Ltd., Tata Consultancy Services Ltd., and Xerox Co.
Market Segment:
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Global CRM Outsourcing Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• Accenture
• Cognizant
• IBM
• Infosys
• HCL Technologies
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