Analysis of the Contact Center Outsourcing Services Market in Colombia

1. Analysis of the Contact Center Outsourcing Services Market in Colombia The United States will drive growth in the offshoring segment NDB7-76 July 2014 2. NDB7-76 2…
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  • 1. Analysis of the Contact Center Outsourcing Services Market in Colombia The United States will drive growth in the offshoring segment NDB7-76 July 2014
  • 2. NDB7-76 2 Study Description & Research Methodology
  • 3. NDB7-76 3 Study Description • This study examines trends in the Colombian Contact Center Outsourcing Services industry and forecasts market demand. • We provide an extensive coverage of services delivered both in each, the local market and those provided from this country to others overseas. In this sense, offshore services are defined as those services provided to serve foreign customers outside the country where each contact center is located. • The study only shows data for outsourcing offshore services, therefore excluding those insourced operations. In this study, revenues have been defined as the revenues received by outsourcing companies for the provision of customer-agent interaction and BPO CRM services in Colombia.
  • 4. NDB7-76 4 Research Methodology • Over 20 interviews carried out utilizing extensive questionnaire. • In all cases, decision makers (executives, managers, etc.) targeted. Study based principally on primary research Other Steps in Research Process: • Regional and local secondary sources (company reports, industry associations, statistical agencies, etc.) used for key economic & market measurements used for analysis. • Extensive forecast and market share models created through research sources, expected current and future trends.
  • 5. NDB7-76 5 Report Structure - Table of Contents Section Executive Summary Total Market • External Challenges: Drivers and Restraints • Forecasts and Trends The Last Word Appendix
  • 6. NDB7-76 6 Executive Summary
  • 7. NDB7-76 7 Executive Summary • The contact center outsourcing services market in Colombia earned a revenue of $1.05 billion in 2013, achieving the highest annual growth rate in Latin America: 16.5%. The market is expected to exhibit a double-digit compound annual growth rate (CAGR) 2013–2020. • In 2013, the offshoring segment exhibited a higher annual growth rate than domestic business continuing the trend from 2012. Domestic business represented 72.1% of the total revenue in 2013, but offshoring services are forecast to increase to constitute 35.1% of the total revenue in 2020. • Spain was still the main offshoring destination in the market, despite its low growth in 2013 (3.8%, year-on-year). Offshoring from Spain is expected to continue losing share in the overall offshoring revenue during the forecast period, while destinations such as the United States and South America are likely to exhibit higher growth rates. • The number of workstations reached 59,703 in 2013, representing an annual growth rate of 11.1%. In 2020, this number is expected to reach close to 100,000, as existing participants are expected to keep enlarging their operations, while new competitors, such as Sykes (2013), Transcom Worldwide (2013), and Almaviva (2014), establish facilities in the country.
  • 8. NDB7-76 8 Drivers and Restraints (Colombia) Contact Center Outsourcing Services Market: Key Market Drivers and Restraints, Colombia, 2013–2020 Impact: H High M Medium L Low Note: Drivers & restraints are ranked in order of impact. Source: Frost & Sullivan analysis. MarketDriversMarketRestraints 1–2 years 3–4 years 5–7 years Strong government support, as CCO and BPO are considered strategic economic activities for the country H H H Competitive mix of service quality and costs is the key advantage of the market H H M Political stability and projected economic growth incentive further investments M M M New tax incentives reduce operative costs for the industry L L L Shortage of bilingual workforce limits growth opportunities H H M Decline in growth generated by offshoring from Spain M M L Increased competition within the domestic business M M L Double taxation in some Latin American countries inhibits nearshoring activities L L L
  • 9. NDB7-76 9 Colombian Contact Center Outsourcing Services Market—Revenue Forecast Note: All figures are rounded. The base year is 2013. Source: Frost & Sullivan analysis. 800 850 900 950 1,000 1,050 1,100 2012 2013 Revenue ($ Million) 897.7 1,045.6 Revenue($Million) Year Contact Center Outsourcing Services Market: Revenue Forecast Colombia, 2012–2013
  • 10. NDB7-76 10 Market Overview—Segmentation (Colombia) Note: All figures are rounded. The base year is 2013. Source: Frost & Sullivan analysis. Domestic Revenues 72.1% Offshore Revenues 27.9% Percent Sales Breakdown Total Contact Center Outsourcing Services Market: Colombia, 2013
  • 11. NDB7-76 11 Colombia Contact Center Outsourcing Services Market— Percent Revenue Forecast by Origin Note: All figures are rounded. The base year is 2013. Source: Frost & Sullivan analysis. 0% 20% 40% 60% 80% 100% 2013 2020 Offshore Revenue 27.9 35.1 Domestic Revenue 72.1 64.9 Revenue(%) Year Contact Center Outsourcing Services Market: Percent Revenue Forecast by Origin, Colombia, 2013–2020
  • 12. NDB7-76 12 Voice 91.0% E-mail 2.2% Web Collaboration & Chat 3.2% SMS 1.6% Social Media 0.9% Others* 1.0% Contact Center Outsourcing Services: Percent of Activities by Contact Center Medium Type, Colombia, 2013 Colombian Contact Center Outsourcing Services Market Activities by Medium Type Analysis .*Others include fax and in-person services. Note: All figures are rounded. The base year is 2013. Source: Frost & Sullivan analysis.
  • 13. NDB7-76 13 Competitive Analysis • Group 1: Large multinational companies or United States or European-based companies. • Group 2: Regional Latin America-based companies, with presence in two or more countries in the region. • Group 3: Large locally-focus Latin American-based companies, with presence in only one country in the region, with revenues greater than $50 million per year. • Group 4: All other small and medium Latin American-based companies with revenue streams below the target indicated above. Note: All figures are rounded. The base year is 2013. Source: Frost & Sullivan analysis. Tier I Global Participants Group 1 (%) Tier II Regional Participants Group 2 (%) Tier II Local Participants Group 3 (%) Total for Tier II (%) Tier III Group 4 (%) 43.8 12.1 22.9 35.0 21.2
  • 14. NDB7-76 14 Legal Disclaimer Frost & Sullivan takes no responsibility for any incorrect information supplied to us by manufacturers or users. Quantitative market information is based primarily on interviews and therefore is subject to fluctuation. Frost & Sullivan research services are limited publications containing valuable market information provided to a select group of customers. Our customers acknowledge, when ordering or downloading, that Frost & Sullivan research services are for customers’ internal use and not for general publication or disclosure to third parties. No part of this research service may be given, lent, resold or disclosed to noncustomers without written permission. Furthermore, no part may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the permission of the publisher. For information regarding permission, write to: Frost & Sullivan 331 E. Evelyn Ave. Suite 100 Mountain View, CA 94041 © 2014 Frost & Sullivan. All rights reserved. This document contains highly confidential information and is the sole property of Frost & Sullivan. No part of it may be circulated, quoted, copied or otherwise reproduced without the written approval of Frost & Sullivan.
  • 15. NDB7-76 15 Appendix
  • 16. NDB7-76 16 For Additional Information Sebastian Menutti Industry Analyst ICT Latin America (5411) 4772 1152 Juan Manuel Gonzalez Industry Manager ICT Latin America (5411) 4777 1555 Jose Roberto Mavignier Director ICT Latin America (5511) 30658463
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