-- Spain's dwindling contribution to the offshoring segment has compelled market participants to alter their geographical strategy
BUENOS AIRES, Argentina, Aug. 29, 2014 /PRNewswire/ -- A mix of quality and competitive costs ensured that the contact center outsourcing services markets in Colombia and Peru were among the most dynamic markets in Latin America up until last year. Since 2013, the market has lost some of its pace as competitive pressures have intensified with the entry of many participants. To navigate the transformed landscape, contact center outsourcing service providers will have to keep up with new entrants' world-class practices, which have elevated quality standards in both countries.
New analysis from Frost & Sullivan, Colombia and Peru Contact Center Outsourcing Services Markets 2014, finds that the Colombian market earned $1,045.6 million in 2013 and estimates this to reach $2,206.2 million in 2020. Peru's market revenues stood at $385.4 million in 2013 and this is projected to go up to $647.3 million in 2020.
"In the Colombian contact center outsourcing services market, domestic business still accounts for more than 70 percent of the revenues. However, revenues from the offshoring segment are growing at a faster rate than those from domestic business as a result of multiple deals with the United States," said Frost & Sullivan Information & Communication Technologies Industry Analyst Sebastian Menutti. "Meanwhile, in the Peruvian market, nearshoring from South American countries such as Argentina and Chile is bringing in new business."
In 2013, Spain once again emerged as the main destination that offshored work to contact center outsourcing service providers in Colombia and Peru. Nevertheless, offshoring revenues generated from Spain in 2013 decreased in Peru and suffered from a growth slowdown in Colombia, owing to the recent Spanish economic crisis.
"Consequently, several Colombian and Peruvian contact center outsourcers were forced to refocus their business models and direct their commercial efforts either to domestic businesses in the high-performing local economies or businesses in other countries likely to avail offshoring services," noted Menutti. "Prime targets for developing the offshoring segment have been South and North America, which are expected to become the dominant regions driving this segment by 2020."
For more information on this study, please email Francesca Valente, Corporate Communications, at firstname.lastname@example.org.
Colombia and Peru Contact Center Outsourcing Services Markets 2014 is part of the Contact Centers & CRM (http://www.contactcenter.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Latin American Contact Center Systems Market 2014, Brazilian BPO and Contact Center Outsourcing Services Market 2014, Argentine and Chilean Contact Center Outsourcing Services Markets, and Mexico and Central America and the Caribbean Contact Center Outsourcing Services Markets. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Colombia and Peru Contact Center Outsourcing Services Markets 2014
Corporate Communications – Latin America
P: +54 11 4777 5300
F: +54 11 4777 5300