Contact Center Solutions Featured Article

Singapore's Contact Center Apps Market Grew 24 Percent Last Year: Report

May 27, 2009

A study by Frost & Sullivan has revealed that the contact center applications market in Singapore grew a robust 23.8 percent to $20.2 million in 2008 despite the economic recession.
 
Frost’s Industry Manager, Shivanu Shukla, said the growth involved replacement deals rather than Greenfield installations, which are few and far between. The report says that the Singapore contact center applications market is expected to grow by only around 4.7 percent until 2015, to $27.9 million. As a developed market, analysts expect more growth in advanced application areas like speech technology and multimedia systems.
 
Singapore’s contact center market has benefitted from excellent infrastructure and strategic location. The contact center applications market comprises a portfolio of applications and tools that are used to improve customer interface and assist in the better integration of the contact center with other business applications and customer databases of enterprises.
 
The report also suggests that TDM-based (time division multiplexing) telephony will soon be replaced by advanced Internet Protocol based telephony – or VoIP – and this is also expected to be a main driver of growth in this area. However, with margins coming down everywhere and operating costs increasing, growth might be affected. Additionally, opportunities are being lost to neighboring regions because of high cost and dearth of skilled labor and hence, there will be loss of pure outsourcing opportunities.
 
Banking, Financial and Insurance sectors will continue to be the main patrons of the contact center industry because of Singapore’s standing as a financial epicenter. Shortage of real estate stock will grow more mid-size centers and larger ones are expected to decline as clients cut down on costs.
 
The Asia-Pacific (excluding Japan) saw growth of 14.8  percent in 2008 and is expected to grow around 8 percent this year despite the recession with strong customer demand and drive towards self-service. With Unified Communications (News - Alert) emerging, contact centers can extend to larger enterprises and deliver improved call resolution rates.
 
According to Shukla: “Enterprises across the region are looking to consolidate their contact center infrastructure and virtualize multiple sites into a single virtual contact center. This would enable better utilization of resources, hence reducing operational costs. This trend has been driving IP migration in the contact center market, and Frost & Sullivan (News - Alert) expects the trend of contact center consolidation to continue this year.”
 
With the downturn, emphasis will be placed on hosted offerings, with a renewed interest from global service providers which are expected to drive growth. However, overall, the impact on technology budgets due to recession cannot be understated.
 

Don’t forget to check out TMCnet’s White Paper Library, which provides a selection of in-depth information on relevant topics affecting the IP Communications industry. The library offers white papers, case studies and other documents which are free to registered users.


Calvin Azuri is a contributing editor for TMCnet. To read more of Calvin’s articles, please visit his columnist page.

Edited by Michael Dinan

Article comments powered by Disqus

Related Contact Center Solutions Articles

Call Centers in Philippines Concerned with Talent Pool and Attrition

A recent study concerning call centers in the Philippines suggests that companies in the region fear that their talent pool is drying up and that employee retention continues to be a large problem in the industry. [ Read More ]
09/16/2014

The Patient Engagement Revolution: The Role of the Contact Center in the Middle East Healthcare Industry

Healthcare providers in the Middle East and Africa will spend $2.8 billion on IT products and services in 2014 - an increase of 2.8 percent over 2013, according to the latest estimates from Gartner. With spending expected to be concentrated on areas like building patient databases, mobile health, and preventive and diagnostic healthcare technologies, there is a dire need for healthcare providers to invest in patient engagement technologies. [ Read More ]
09/16/2014

The Waiting is the Hardest Part, But That May Change for Metropolitan Utilities District

Like the song says, the waiting is the hardest part, at least that seems to be the case at Omaha's Metropolitan Utilities District's (MUD) contact center. But the hardest part may be on the way out as the contact center looks to ramp up its level of service with a particular eye on shortening wait times for users to get access to service. [ Read More ]
09/16/2014

Florida Credit Union Services Company Hosts 'Knockout' Brainstorming Event

Credit union services provider St. Petersbur, FL-based PSCU kick starts innovation with "Knockout" event. [ Read More ]
09/15/2014
Subscribe here for your FREE Contact
Center Solutions
enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!