Industry Analysis & Industry Trends
Industry operators faced difficult conditions over the past five years following the financial crisis. Before 2008-09, the industry grew at a rapid pace as businesses focused on improving customer service levels. The trend of outsourcing non-core operations also benefited industry operators. However, the financial crisis and the subsequent recession caused demand to fall considerably as businesses slashed spending. The industry also faced strong competition from offshore call centres, which further hampered industry performance. Call centres in developing countries such as India, benefit from significantly lower labour costs and a large pool of potential English-speaking workers.
Industry revenue is forecast to decline at a compound annual rate of 2.5%... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
IBISWorld analysis indicates that the industry has transitioned to the decline stage of its life cycle and will continue to lose market share to offshore call centres. Drastic improvements in global communication technology infrastructure have enabled overseas operators to become extremely competitive.
Over the 10 years through 2018-19, industry value added in projected to decline at a compound annual rate of 1.6%. This performance falls well behind that of the UK economy as measured by GDP, since it is projected to grow at a compound annual rate of 1.3% over the same period. This indicates that the industry will account for a declining share of the UK economy... purchase to read more