Analysts at ResearchandMarkets have forecasted that the worldwide contact center market will grow at a compound annual growth rate of 8.81 percent over the period 2013-2018.
Currently, contact centers are embracing new technologies to offer a multichannel experience. This results in a coherent customer experience and meeting customer expectations with advanced levels of interactions channels. It helps client firms to increase their operational efficiency, enhance customer experience, concentrate on their core competencies, reduce time to market, obtain access to fresh talent and experience along with latest technologies, and build an organization with an economical cost structure in the long run.
One of the most important trends in the market is the emergence of social media technologies. Many clients are adopting this technology as the response rate is high in social media such as email, phone, and live online chat, and it gives them instant access to customer information.
According to the report, one of the major factors driving the growth in this market is an increase in advanced communication technologies. Organizations adopt multiple channels in contact centers through cutting-edge modern technologies such as business intelligence tools that help in managing and analyzing large amounts of data, and provide fast and efficient customer service.
Further, the report states that one of the most important factors affecting the market growth is the rise in employee attrition rates. Employment at contact centers is frequently taken up on a temporary or part-time basis and hence the turnover rate of employees is high in this market.