Frost & Sullivan Predicts China to Overtake Australia in the Contact Center Market

Recent estimates revealed that in 2010 the Chinese Contact Center market attained total revenue of $116.8 million and is expected to reach $225 million in 2017.

At this rate, the Chinese contact center industry is all set to overtake Australia as the second largest market by 2017, according to Frost & Sullivan (News - Alert).

Officials with Frost & Sullivan commented that another driver is the increasing awareness and adoption rate of advanced applications such as work force management, speech technology and other multi-media applications. The increasing demand of other UC solutions will also drive the market in the long run. Furthermore, local vendors use relatively low pricing to attract a larger number of customers.

Frost & Sullivan revealed that the Asia Pacific Contact Center market was estimated at $13.7 billion in 2008. The majority of this revenue comes from the markets of India, Philippines, Malaysia and China, together contributing more than 54 percent of the total market revenue. In China, the banking and finance, telcos and government sectors are the top industries that are driving its growth. The size of the contact centers present in these industries is stated to have given them the edge and the ability to attain the rapid growth with high adoption of in-house contact center solutions.

Estimates also indicate the Chinese market to post a moderate growth over the coming years and attain maturity around 2017 with investments to continuously arrive for the management of contact centers including operational efficiency and the training of agents.

Frost & Sullivan added that in China the global vendors are now focusing on large local enterprises in BFSI, government, and e-Commerce as there are fewer new customers from MNCs and these global vendors hope to expand to a mid-size market.

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