Contact centre outsourcing services in Europe is likely to be worth $16.48 billion in 2019, new analysis from Frost & Sullivan showed Wednesday. That represents an increase from $14.04 billion marked in 2014.
The think-tank said the slow increase reflects stagnant economies and relatively rigid labour markets. However, powerful consumer trends, along with the expansion of automated and non-voice channels, are adding momentum to technology-based customer engagement.
Further, the research agency said technology-based services will experience solid momentum in the forecast period. The compound annual growth rate would be (CAGR) of more than 12 percent, compared to a CAGR of more than 2 percent for traditional, agent-based services.
“Europe too is adjusting to a rapidly changing, ever-more influential consumer,” noted Frost & Sullivan Information and Communication Technologies Program Director Stephen Loynd.
“And when it comes to working with Business Process Outsourcing (BPOs) in an ever more connected world, enterprises are expecting agility, innovation, and best practice implementation – truly strategic partnerships, in other words.”
Meanwhile, the outsourcing market continues to be characterised by mergers and acquisitions.
Frost & Sullivan said both large and small players, such as Atento, Arvato, Concentrix, Serco Global Services, Walter Services, and SNT Deutschland, were involved in M&As in 2015.
The think-tank said it would be wise for BPOs to continue to push organizational change whenever necessary to promote focus and accountability, and improved organizational alignment when it comes to company mission, vision, strategy and execution.