Customer first: Increased consumer spending will boost industry revenue growth

The Customer Care Centers industry has experienced steady growth over the five years to 2018, as the US economy gradually expanded and service jobs grew. Industry profitability has been variable, due to a confluence of technological change, relocation of operations, government assistance and the increasing number remote workers. Increased revenue growth caused by the Federal Communications Commission's initiative was expected to be short lived, as a large portion of industry operators were expected to continue to offshore operations to emerging economies with lower labor costs. However, some of the largest companies in the industry have actually expanded US operations...purchase to read more.

Industry Statistics & Market Size
Revenue
$11bn
Annual Growth 13-18
4.3%
Forecast Growth 18-23
Profit
Employment
252,614
Businesses
2,736

Industry Threats & Opportunities

  • With increased consumer spending and the continued transition to a service-based economy will enable revenue to keep growing
  • The growth in employment during the period has led to a growth in wages
  • Some companies are expanding their US operations
  • Industry Report - Industry SWOT Analysis Chapter

    The Customer Care Centers industry is in the mature phase of its life cycle. Over the 10 years to 2023, the industry's contribution to the overall economy, as measured by industry value added, is expected to grow at an annualized rate of 4.0%, which is stronger than US GDP projected to increase at an annualized rate of 2.2% during the same period. Typically, growth comparable or slightly stronger to the overall economy indicates an industry is in its mature phase. Nevertheless, this industry is very sensitive to technological innovation, and for this reason, exhibits a high degree of change, subject to both growth opportunities and contractionary pressures.Even as foreign competition expands, there has also been a trend toward increasing US operations by larger companies. Sim...purchase to read more.

    Additional Insights for the Customer Care Centers Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Customer Care Centers Industry are

  • Having a high profile in the market
  • Access to quality personnel management
  • Ability to quickly adopt new technology
  • IBISWorld analysts also discuss how external factors such as Consumer spending and Corporate profit in the Customer Care Centers industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What's in this report

    What is the Customer Care Centers Industry?

    Industry operators answer inbound telephone calls regarding customer queries and tech support.

    Industry Products
  • Customer account activation, billing and logistical inquiries
  • Inbound customer complaints
  • Inbound technical support
  • Cross-selling, up-selling and service renewals
  • Outbound debt, collections and payment inquiries
  • Other services
  • Industry Activities
  • Activating customer accounts
  • Responding to billing and logistical inquiries
  • Responding to inbound customer complaints
  • Responding to technical support inquiries
  • Providing cross-selling, up-selling and contract renewal services
  • Providing outbound debt, collections and payment inquiries
  • Providing customer satisfaction surveys
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer spending
  • Corporate profit
  • Number of businesses
  • commerce sales
  • Private investment in computers and software

  • Current Performance
  • Government support
  • Automation
  • Chart: Revenue Growth

  • Industry Outlook
  • Offshoring
  • Expanding US economy
  • Automation
  • Table: Customer Care Centers Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Customer Care Centers Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Retail Trade
  • Information
  • Finance and Insurance
  • Healthcare and Social Assistance
  • Public Administration

  • Key Selling Industries
  • Commercial Leasing
  • Computer & Packaged Software Wholesaling
  • IT Consulting
  • Office Supply Stores
  • VoIP
  • Wired Telecommunications Carriers

  • Products & Services
  • Other services
  • Inbound customer complaints
  • Cross-selling, up-selling and service renewals
  • Inbound technical support
  • Customer account activation, billing and logistical inquiries
  • Outbound debt, collections and payment inquiries
  • Chart: Customer Care Centers Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Communications
  • Technology
  • Retail and consumer
  • Financial services
  • Other
  • Chart: Major Market Segmentation for the Customer Care Centers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchases and depreciationOther
  • Chart: Cost Structure Benchmarking – Sector vs Customer Care Centers

  • Basis of Competition
  • Internal Competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Customer Care Centers Industry

  • Industry Globalization
    Convergys Corporation, Teleperformance, Sykes Enterprises Inc., Alorica Inc., TeleTech Holdings Inc.,
  • Table: Convergys Corporation - financial performance
  • Table: Teleperformance - financial performance
  • Table: Sykes Enterprises Inc. - financial performance
  • Table: Alorica Inc. - financial performance
  • Table: TeleTech Holdings Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Customer Care Centers Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Customer Care Centers Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Corporate profit (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Offshoring
  • Relocating domestic services to less expensive labor-cost countries like China or India to service domestic clients.
  • Robocall
  • A phone call that uses a computerized autodialer to deliver a pre-recorded message, as if from a robot.
  • Voip
  • Voice over IP (VoIP) refers to delivery of telecommunications and multimedia communication services over Internet Protocol (IP) networks, such as the Internet.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Customer Care Centers contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Customer Care Centers:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Customer Care Centers market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Customer Care Centers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.

    clear