Customer Experience Outsourcing Services Market in Europe, Forecast to 2028

Customer Experience Outsourcing Services Market in Europe, Forecast to 2028

Companies Need to Diversify their Geographical Footprint is Creating Major Growth Opportunities for Global Providers

RELEASE DATE
20-Sep-2022
REGION
Europe
Research Code: 9A60-00-09-00-00
SKU: IT04579-EU-MT_26916
$4,950.00
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$4,950.00
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Description

The CX outsourcing services landscape is set to grow throughout the forecast period. Two key reasons lie behind this: 1) the increasing acceptance of CX as a formidable competitive weapon; and 2) growing incentives for companies to outsource their CX operations.

Improving CX appears as the number one business goal priority in the Frost & Sullivan survey to 1,120 IT decision makers for the third year in a row. Organizations across the board realize that providing a superior CX is now a must for any company that wants to say relevant in its market. This is bringing greater attention and investment opportunities into this market.

Organizations are likely to increasingly outsource their CX capabilities due to high inflation rates, rising wages across North America, turbulent future economic outlook, and the growing complexity of running CX operations with optimal results.

Dealing with security concerns is the most mentioned IT challenge quoted in the survey above, which has deep implications for the CX world. Organizations will accept nothing less than top-notch data security processes and technologies.

Companies are expecting continuous process enhancement and rapid and constant innovation. As organizations must adapt to changing market conditions, they are looking to partner with nimble CXSPs to speed up the time to market. The right mix of people, processes, and technology is the key to success and will help providers bring reliable and agile transformation capabilities to their clients.

As more customer interactions continue to be automated, calls that reach live agents grow in complexity. This is leading to an increase in AHT (Average Handle Time). Companies are trying to improve agent productivity by providing the right tools and support, such as real-time recommendations, next-best-thing suggestions, and intelligent routing.

Many companies see contact centers as a profit center that opens up new opportunities for cross- and up-selling. Companies also realize that conversion is exceptionally high when they harness the natural touchpoints customers have with them (e.g., at contract renewal junctures or during billing cycles), typically involving the contact center. Therefore, contact centers are becoming an essential element of an effective revenue growth strategy.

This report provides a detailed assessment of the customer experience outsourcing services market in Europe, providing market shares, segmentations, and forecasts for several variables such as number of full-time employees, fulfillment region, industry vertical, born digital vs. traditional companies, channel of contact, and service function. The base year of this study is 2021 and forecasts reach to 2028.

Author: Sebastian Menutti

Table of Contents

Customer Experience Outsourcing Services Market in Europe - Forecast to 2028

The CX outsourcing services landscape is set to grow throughout the forecast period. Two key reasons lie behind this: 1) the increasing acceptance of CX as a formidable competitive weapon; and 2) growing incentives for companies to outsource their CX operations. Improving CX appears as the number one business goal priority in the Frost & Sullivan survey to 1,120 IT decision makers for the third year in a row. Organizations across the board realize that providing a superior CX is now a must for any company that wants to say relevant in its market. This is bringing greater attention and investment opportunities into this market. Organizations are likely to increasingly outsource their CX capabilities due to high inflation rates, rising wages across North America, turbulent future economic outlook, and the growing complexity of running CX operations with optimal results. Dealing with security concerns is the most mentioned IT challenge quoted in the survey above, which has deep implications for the CX world. Organizations will accept nothing less than top-notch data security processes and technologies. Companies are expecting continuous process enhancement and rapid and constant innovation. As organizations must adapt to changing market conditions, they are looking to partner with nimble CXSPs to speed up the time to market. The right mix of people, processes, and technology is the key to success and will help providers bring reliable and agile transformation capabilities to their clients. As more customer interactions continue to be automated, calls that reach live agents grow in complexity. This is leading to an increase in AHT (Average Handle Time). Companies are trying to improve agent productivity by providing the right tools and support, such as real-time recommendations, next-best-thing suggestions, and intelligent routing. Many companies see contact centers as a profit center that opens up new opportunities for cross- and up-selling. Companies also realize that conversion is exceptionally high when they harness the natural touchpoints customers have with them (e.g., at contract renewal junctures or during billing cycles), typically involving the contact center. Therefore, contact centers are becoming an essential element of an effective revenue growth strategy. This report provides a detailed assessment of the customer experience outsourcing services market in Europe, providing market shares, segmentations, and forecasts for several variables such as number of full-time employees, fulfillment region, industry vertical, born digital vs. traditional companies, channel of contact, and service function. The base year of this study is 2021 and forecasts reach to 2028. Author: Sebastian Menutti
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WIP Number 9A60-00-09-00-00