LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global CRM outsourcing market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global CRM outsourcing market will grow at a CAGR of close to 6% during the forecast period. The increasing need for large-scale client management is a major factor driving the market’s growth.
The demand for maintaining a proficient CRM process has proved to be a critical part of strategic decision-making for organizations worldwide. CRM aids in maintaining a complete database about the company’s customer base and brings in repeat business. As the volume of data increases, it is difficult to support a proficient CRM database. Hence, several large organizations are adopting automation for keeping records and cloud computing for location data availability. Various client organizations around the world are unwilling to maintain in-house CRM solutions and are outsourcing it to professional organizations with a proven track record of managing complex CRM databases. Cost savings and database downtime reduction are other purposes of CRM outsourcing.
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In this report, Technavio highlights the advent of big data and analytics services as one of the key emerging trends driving the global CRM outsourcing market:
Advent of big data and analytics services
In the CRM outsourcing services industry, analytics is one of the most significant trends. In order to transform unstructured data gathered from various online channels into structured data to get meaningful insights, companies are adopting analytics services. Advanced analytical tools such as predictive analytics is used to analyze data to understand the pattern related to business and consumer behaviors. To improve customer service, analytical tools have been helping numerous industries such as BFSI, retail, telecommunications, and healthcare to take critical decisions at organizational levels.
“Majority of the enterprises are witnessing an abundance of data, with the adoption of technology and outsourcing services. To get a competitive advantage over cost and time, companies are increasingly focusing on analyzing and using this data promptly. These companies are identifying the prospect of big data and designing their IT strategy to capture such opportunities. For example, big data can help government banks to prevent fraudulent transactions,” says a senior analyst at Technavio for research on ITO and BPO.
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Global CRM outsourcing market segmentation
This market research report segments the global CRM outsourcing market into the following end-users, including retail, BFSI, telecom & IT, and healthcare and key regions, including the Americas, APAC, and EMEA.
The retail segment held the largest market share in 2017, accounting for nearly 27% of the market. The market share for this end-user is expected to increase by 2022.
The Americas was the leading region for the global CRM outsourcing market in 2017, accounting for a market share of nearly 46%. By 2022, APAC is expected to witness a market growth of nearly 3%.
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