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.

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.