BANGALORE: The market for customer relationship management (CRM)-related
services has experienced substantial growth. The new research from IDC reveals
that the worldwide CRM services market will increase at a compound annual growth
rate (CAGR) of 18.6 percent to reach $ 45.5 billion in 2006. The US CRM services
market is expected to total over $ 18 billion in 2006, a growth rate well above
that of the overall US IT services market. This was announced by a media release
from IDC.
One area of CRM that has experienced particularly strong growth is the market
for outsourced customer care services. In almost all cases, a diverse array of
players with varying niche or generalized offerings have been able to capitalize
on this burgeoning market opportunity in the customer care services space. IDC
research indicates that the worldwide customer care services market, consisting
of customer care outsourcing and CRM consulting services, represented a $ 34.9
billion opportunity in 2001. IDC forecasts this market to reach $ 90.3 billion
by 2006
"In the coming years, we expect this market opportunity to continue its
path of expansion and growth into new arenas of service," said IDC’s CRM
and Customer Care Services research program, program manager of, Brian Bingham.
"As a result, service providers can expect to see a furtherance in the
revenue opportunities from clients in search of CRM strategy consultation and
outsourced customer care services over the next five years."
IDC's top recommendations for CRM service firms and customer care service
providers include: advocate an incremental approach to CRM, but within a
long-term vision; use the diversity of the CRM services ecosystem to advantage;
consider a blended "design and build" plus "operate"
approach to CRM services; focus on delivering value to clients’; expand
vertical-industry expertise; and be receptive to partnering.
The research in this release comes from two new studies published by IDC’s
CRM and Customer Care Services research program. The first study, Worldwide CRM
Services Market Forecast and Analysis, 2001-2006 provides a comprehensive
overview and forecast of the worldwide CRM services market and helps CRM
services firms understand recent trends and align themselves with future
directions within this dynamic market. It includes worldwide CRM services market
data and trends by geographic region, a US CRM services market forecast by
service activity and engagement type, US CRM services forecast by 18 vertical
industries and by CRM segment, and a comprehensive overview of the top 10 CRM
services firms. Finally, the study provides and IDC analysis of the future
outlook of the CRM services market and essential guidance to CRM services
vendors.
IDC’s study, Worldwide Customer Care Services Forecast and Analysis,
2001-2006, provides an overview of the worldwide customer care services
market, addressing both consultative services and customer care as provided by
contact center outsourcers. Market opportunities for these services are forecast
for the 2001-2006 period by service category, region, vertical industry, channel
of delivery, and interaction campaign. Finally, a separate global top 15 list is
provided for the customer care outsourcing industry, along with a table of
winning attributes.