|Market Size in 2022
|Market Forecast in 2030
|CAGR (in %)
|USD 13.2 Billion
|USD 32.1 Billion
CRM Outsourcing Market
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.
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.
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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.
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.
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.
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.
|CRM Outsourcing Market Research Report
|Market Size in 2022
|USD 13.2 Billion
|Market Forecast in 2030
|USD 32.1 Billion
|Compound Annual Growth Rate
|CAGR of 5.20%
|Number of Pages
|Value (USD Billion), and Volume (Units)
|Key Companies Covered
|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, and Accenture PLC.
|By Component, By Type, By Vertical, By Organization Size, By Service, And By Region
|North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
|North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|2017 to 2021
|2023 - 2030
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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.
The global CRM outsourcing market profiles key players such as:
By Organization Size
CRM outsourcing is the application of GPS and RFID technologies for establishing a virtual geographical system, thereby helping the GPS software in triggering a response on smartphones when an unauthorized individual tries to enter or leave a particular location. CRM outsourcing helps a firm or an individual set up triggers based on the data about the location.
The global CRM outsourcing market is projected to expand over 2023-2030 owing to the massive need for improving the automation of CRM processes with the purpose of increasing the operational efficiency of the processes.
According to study, the global CRM outsourcing market size was $13.2 billion in 2022 and is projected to reach $32.1 billion by the end of 2030.
The global CRM outsourcing market is anticipated to record a CAGR of nearly 5.20% from 2023 to 2030.
The Asia-Pacific CRM outsourcing industry is set to account for a major market share in the upcoming years 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 toward the regional market size.
The global CRM outsourcing market is led by players like 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, and Accenture PLC.