CRM and Customer Care Services Markets to Grow More Than 11% to Reach $101 Billion by 2007, IDC Reveals
FRAMINGHAM, MA – APRIL 7, 2003 – With another year or two of sluggish gains to come, IDC predicts moderate growth rates by 2005 for the worldwide and U.S. CRM services and customer care services markets. As the current economic climate continues to restrain growth in the near term, new IDC documents forecast that combined worldwide CRM and customer care services revenue will reach $101 billion in 2007, with a 2002-2007 compound annual growth rate (CAGR) of 11.3%.
IDC expects customer care services – inhibited by longer sales cycles and extreme pricing pressure, yet driven by profound new interest in business process outsourcing (BPO) and offshoring – to experience a fair amount of turbulence over the next 12-18 months. To successfully compete in this complex marketplace, IDC advises providers of CRM and customer care BPO services to make cost savings a priority, stress performance as the measure of success, and focus on delivering value to clients.
In the CRM services sector, the most successful firms will be the ones that can provide a favorable suite of services that address business process re-engineering, redesign, and optimization. More specifically, IDC‘s report reveals that CRM operations (operations management activities and IT-related outsourcing, excluding contact center outsourcing) is the area most likely to provide growth opportunity in the U.S. over the next five years.
“Despite the current economic climate, opportunities remain within the CRM and customer care services marketplaces,” said Brian J. Bingham, program manager for CRM and Customer Care Services research at IDC. “Being attuned to cost containment, ROI, and business process optimization, however, must be the mantra if service providers plan to survive and thrive.”
Two new IDC reports, Worldwide and U.S. Customer Care Services Forecast and Analysis (IDC #28925) and Worldwide and U.S. CRM Services Forecast and Analysis, 2002-2007 (IDC #28999), present full details on IDC’s 5-year market forecasts. Additionally, these documents analyze the persuasive market factors and trends and provide essential guidance for services firms looking to take advantage of future growth.
The document, Worldwide and U.S. Customer Care Services Forecast and Analysis (IDC #28925), covers the U.S. and worldwide customer care servicesindustry with a focus on three regions; Americas, Asia/Pacific; and EMEA (Europe, Middle East and Africa). Additionally, the report provides U.S. and worldwide forecasts by vertical industry and service offering.
The document, Worldwide and U.S. CRM Services Forecast and Analysis, 2002-2007 (IDC #28999), focuses on the U.S. and worldwide CRM services industry and presents a worldwide forecast by region. Also included in this document are U.S. CRM services forecasts by vertical industry, by service activity and engagement type, and by various CRM segments, defined as the business functions that CRM supports in the enterprise.
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IDC is the foremost global market intelligence and advisory firm helping clients gain insight into technology and ebusiness trends to develop sound business strategies. Using a combination of rigorous primary research, in-depth analysis, and client interaction, IDC forecasts worldwide markets and trends to deliver dependable service and client advice. More than 700 analysts in 43 countries provide global research with local content. IDC’s customers comprise the world’s leading IT suppliers, IT organizations, ebusiness companies, and the financial community. Additional information can be found at www.idc.com.
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