Market Size of Consumer Technical Support Services Industry
Study Period | 2021 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 7.30 % |
Fastest Growing Market | Asia-Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Consumer Technical Support Services Market Analysis
The Consumer Technical Support Services market is expected to register a CAGR of 7.3% during the forecast period. The market is expanding because of rising digital technology use across various end-use sectors and rising social media, online platforms, internet service, and smart computing device penetration. Also, one of the main things driving the growth of the market for technical support services is the growing need for cost-effective ways to improve productivity.
- The global digital transformation has brought about an increased number of software projects, which can be costly to develop in-house. Outsourcing maintenance and app development helps reduce software implementation costs and provides the technical expertise needed to deliver high-quality consumer services. Automation has changed the way business is done because most policies, strategies, and initiatives of organizations around the world depend on how well they can automate every process.
- The international financial market has been transforming rapidly with the rise in the need for electronic billing, digital payment systems, and electronic data record maintenance, fueling demand prospects in the technical support outsourcing market. Notably, IBM reported that chat boxes handled approximately 87% of customer interactions and queries they received from consumers in the previous year by always being there for them. Their questions are quickly addressed and promptly answered.
- However, the cost of outsourcing technical support to any third party compromises the quality of technical support, which leads to a compromise in the quality of front-end services like sales, the building of rapport with regular company customers, and a lack of understanding of the company's core products. These are some of the challenges limiting the technical support outsourcing market's growth.
- Due to a lack of technical skills and understanding of technology, businesses in many different industries have turned to global technical support outsourcing vendors to handle the technical parts of their businesses.Also, original equipment manufacturers (OEM) and independent software vendors (ISV) are focusing on outsourcing technical support because it lets them focus on their core developments.
- Businesses had achieved amazing speed in providing first-rate customer service and sensitive staff care due to COVID-19 and its quick adoption of internet channels among customers. With the requirement for cost-effective solutions to improve the efficiency and quality of the services and disruptions in the supply chain, most of the services and queries were resolved online, thereby driving the market's growth. The sudden shift to work-from-home models and a big rise in call volume during the pandemic put the business at risk at first, but over time, these changes have given the Global Consumer Technical Support Services Market a huge amount of potential.
Consumer Technical Support Services Industry Segmentation
Consumer Technical support service is an outsourcing business process that involves hiring a third-party individual or organization to provide technical support services to end-user industries. These services are often called "virtual help desks," where customers can ask and resolve queries and receive support while troubleshooting issues with a service or product.
Consumer Technical Support Market is Segmented by Type (Help Desk and Call Centre) by End-User Industry (IT and Telecommunication, BFSI, Education, Manufacturing, and Automotive), and by Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
By Type | |
Help Desk | |
Call Centre |
End-User | |
IT and Telecommunication | |
BFSI | |
Education | |
Manufacturing | |
Automotive | |
Other( Hospitality, pharmaceuticals , logistics and supply chain, ecommerce) |
By Region | |
North America | |
Europe | |
Asia-Pacific | |
Latin America | |
Middle East and Africa |
Consumer Technical Support Services Market Size Summary
The Consumer Technical Support Services market is experiencing significant growth, driven by the increasing adoption of digital technologies across various sectors and the rising penetration of smart devices and online platforms. This expansion is further fueled by the demand for cost-effective solutions to enhance productivity and the need for outsourcing to reduce software implementation costs. The global shift towards digital transformation has led to a surge in software projects, making outsourcing an attractive option for businesses seeking to leverage technical expertise without incurring high in-house development costs. Automation and the use of advanced technologies, such as chatbots, have also transformed the industry, improving service quality and reducing operational costs. However, challenges such as the potential compromise in service quality due to outsourcing and the need for skilled technical support personnel remain significant hurdles.
The market is characterized by a fragmented landscape with numerous players, including major companies like Accenture, IBM, and Tata Consultancy Services, actively expanding their global presence and enhancing their service offerings. The Asia-Pacific region, known for its skilled workforce and cost-effective services, plays a crucial role in the market's growth, particularly in the helpdesk support sector. The adoption of 5G technologies is expected to further revolutionize the market by enhancing the efficiency of technical support services. Despite the challenges, the market presents lucrative opportunities, especially for small and medium enterprises (SMEs) looking to outsource technical support to focus on their core business activities. The ongoing advancements and strategic collaborations among key players are likely to drive the market's growth in the coming years.
Consumer Technical Support Services Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Increase in Automation in the Industry
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1.1.2 Digital Transformation and Industry 4.0 Practices
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1.2 Market Challenges
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1.2.1 Compromising With the Quality of Technical Support for Saving Time and Cost
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Help Desk
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2.1.2 Call Centre
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2.2 End-User
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2.2.1 IT and Telecommunication
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2.2.2 BFSI
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2.2.3 Education
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2.2.4 Manufacturing
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2.2.5 Automotive
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2.2.6 Other( Hospitality, pharmaceuticals , logistics and supply chain, ecommerce)
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2.3 By Region
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 Latin America
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2.3.5 Middle East and Africa
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Consumer Technical Support Services Market Size FAQs
What is the current Consumer Technical Support Services Market size?
The Consumer Technical Support Services Market is projected to register a CAGR of 7.30% during the forecast period (2024-2029)
Who are the key players in Consumer Technical Support Services Market?
Accenture PLC, Collabera Inc., Tata Consultancy Services Limited, IBM Corporation and Aegis Plc (Essar) are the major companies operating in the Consumer Technical Support Services Market.