Technical Support Outsourcing Market to Surpass Valuation of US$ 83.82 Bn by 2031

Transparency Market Research delivers key insights on the global technical support outsourcing market. In terms of revenue, the global technical support outsourcing market is estimated to expand at a CAGR of 6.7% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global technical support outsourcing market.

Technical support is a service that most companies provide to users that help them deal mainly with technology or software issues. With technical support outsourcing, a third party is hired to provide support for a company's products and services. This allows the company to focus on more important issues that would help the business grow, such as the development of new products. Technical support outsourcing has seen exponential development, owing to the accessibility of extremely skilled support agents in low salary regions such as the Philippines or India.

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Technical support outsourcing gives customers access to quick and easy resolutions in multiple channels. This can range from mobile apps that support virtual assistants to an email support helpdesk or even contact centers where a live support agent helps solve problems. Technical support outsourcing is not the only way to streamline technical support business processes. However, it is one of the ideal options as it saves considerable costs such as hiring and training support agents. Hence, technical support outsourcing is expected to witness increasing demand in the near future.

Technical Support Outsourcing Market: Dynamics

The rise in adoption of cost-effective cloud-based outsourcing solutions in different industries helps to improve the work efficiency of an organization, which reduces in-house technical support issues, further saving time and money of an organization. Cloud-based sourcing services reduce the need for data centers hosted by the Internet supplier, with minimal transition services and accessible from anywhere to develop, test, and manage web applications as per customer requirements. For instance, according to PWC.com, 77% of IT outsourcing service providers are migrating toward cloud platforms to provide secure and reliable outsourcing services to clients. However, 64% of service providers adopt the private and public cloud-based platform to develop IT infrastructure as per needs of clients.

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Moreover, the growing adoption of cloud-based outsourcing service models helps to improve data security and data storage capacity of an organization. This feature of cloud outsourcing services helps to reduce the risk of data breach activities and also reduces the cost of hardware material such as servers, routers, and other devices. This factor increases the demand for cloud outsourcing services to improve a company’s productivity.

For instance, according to Deloitte, rising use of outsourcing 4.0 and cloud outsourcing services among various industries helps IT operations become more flexible and efficient by increasing speed of innovating new products and services offered to the customer. Thus, rise in demand for cloud service outsourcing models is expected to propel the technical support outsourcing market during the forecast period.

Technical Support Outsourcing Market: Prominent Regions

North America is expected to hold a major share of the global technical support outsourcing market by the end of 2021. This can be attributed to the strong presence of technological pioneers such as IBM Corporation and Worldwide Call Centers, Inc. in the region. In addition, rise in adoption of cloud-based outsourcing solutions in various sectors is expected to boost the technical support outsourcing market in the region. The U.S. holds more than half the share in the technical support outsourcing market. Europe follows North America in terms of share of revenue of the global technical support outsourcing market. The demand for technical support outsourcing in the region is majorly driven by countries in Western Europe. Primary forces propelling this growth are increased adoption of call center services, and customer acquisition, in emerging countries such as the U.K., France, and Germany.

The rise in adoption of technical support outsourcing in the IT & automotive sector in Asia Pacific is fueling the growth in this region. South America and MEA offer significant opportunities to the technical support outsourcing market, owing to increasing rate of adoption of advanced technology and rising call center services in these regions.

Technical Support Outsourcing Market: Key Players

Key players operating in the global technical support outsourcing market are Accenture PLC., Asia Premier One Source, Inc., Collabera Inc., Computer Generated Solutions, Inc., Essentiel Outsourcing, Flatworld Solutions Pvt. Ltd., Genpact, HCL Technologies, IBM Corporation, Infosys Limited, Invensis Technologies Pvt Ltd, Qcom Outsourcing Ltd, StarTek Inc., Suma Soft, Support.com, Inc., Tata Consultancy Services Limited, Wipro Limited, Worldwide Call Centers, Inc. etc.

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