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Asia Pacific Cements its Status as the Fastest Growing Region for Contact Center Services, Finds Frost & Sullivan

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Asia Pacific Cements its Status as the Fastest Growing Region for Contact Center Services, Finds Frost & Sullivan PR Newswire SINGAPORE, June 13, 2012 -Increasing Focus on Quality Bodes Well for Establishments with Trained and Experienced Professionals SINGAPORE, June 13, 2012 /PRNewswire/ -- With the global economic downturn heaving its last gasp in 2010, enterprises are reviving expenditure on customer service. To meet the rising customer demand, the region recorded a 9.7 percent growth in contact center agent seats to reach 2.5 million in 2011, and by 2018, it is expected to have grown at a compound annual growth rate (CAGR) of 8.1 percent to touch 4.0 million. All emerging markets are expected to maintain double digit growth for the same period, leading the overall market development for Asia Pacific. New analysis from Frost & Sullivan (http://www.contactcenter.frost.com), Assessment of the Asia-Pacific Contact Center Market, finds that the Asia Pacific had 3.48 million agent seats in 2011 and estimates this to reach 5.9 million in 2018. The Asia Pacific will also demonstrate the highest growth in the global contact center outsourcing in 2012 and beyond. Much of this growth will be driven by the upswing in domestic demand, especially from the telecommunications and banking and finance (BFS) sectors. However, this rapid growth in the number of contact center outsourcers will spark off concerns about market saturation.

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Asia Pacific Cements its Status as the Fastest
Growing Region for Contact Center Services,
Finds Frost & Sullivan
PR Newswire
SINGAPORE, June 13, 2012
-Increasing Focus on Quality Bodes Well for Establishments with Trained and
Experienced Professionals
SINGAPORE
,
June 13, 2012
/PRNewswire/ -- With the global economic downturn
heaving its last gasp in 2010, enterprises are reviving expenditure on customer
service. To meet the rising customer demand, the region recorded a 9.7
percent growth in contact center agent seats to reach 2.5 million in 2011, and
by 2018, it is expected to have grown at a compound annual growth rate
(CAGR) of 8.1 percent to touch 4.0 million. All emerging markets are expected
to maintain double digit growth for the same period, leading the overall market
development for
Asia Pacific
.
New analysis from Frost & Sullivan (http://www.contactcenter.frost.com),
Assessment of the Asia-Pacific Contact Center Market
, finds that the
Asia Pacific
had 3.48 million agent seats in 2011 and estimates this to reach 5.9
million in 2018.
The
Asia Pacific
will also demonstrate the highest growth in the global contact
center outsourcing in 2012 and beyond. Much of this growth will be driven by
the upswing in domestic demand, especially from the telecommunications and
banking and finance (BFS) sectors. However, this rapid growth in the number of
contact center outsourcers will spark off concerns about market saturation.
Markets in countries such as
Singapore
,
Hong Kong
, and
Taiwan
are already
showing signs of saturation and are on the higher-end of the growth curve.
"Contact center owners in the
Asia Pacific
will credit most of their success to
the region's large and cheap labor pool with considerable English and regional
language skills, solid infrastructure, and cultural similarities with western
countries," said Frost & Sullivan Industry Manager Krishna Baidya.
The intensifying focus on quality customer service has piqued the interest of
domestic enterprises, which has, in turn, raised the level of competition in
emerging markets. Customer service enhancement continues to receive
priority, as enterprises are investing more capital in contact centers that offer
superior client satisfaction.
While agent numbers are likely to escalate across the region, the market will
also experience significant attrition. The attrition rates in the
Asia Pacific
contact center market will be higher than the rates in other markets due to
high stress levels and career opportunities in other industries. In 2011, while the
average attrition rate for the
Asia Pacific
contact center market as a whole was
approximately 19.1 percent;
India
's alone was nearly 25 per cent.
One of the main reasons for agents' lack of stickiness with the job is that with
most organizations attempting to cut costs, the wages of contact center agents
have remained relatively low in the past three years.
"Many enterprises were investing more on system upgrades rather than in
improving agents' interpersonal skills and domain knowledge," noted Baidya.