Demand for customer relationship management services is on the upswing with the worldwide CRM services market projected to increase at a compound annual growth rate of 18.6 percent to reach $45.5 billion in 2006, reports International Data Corp., a Framingham, Massachusetts-based research firm. United States CRM services revenues are expected to exceed $18 million in 2006. One of the strongest CRM sectors is outsourced customer care services, which is attracting a diverse array of vendors with varying niche or generalized offerings, IDC notes. The worldwide customer care services market, which consists of customer care outsourcing and CRM consulting services, will expand from $34.9 billion in 2001 to $90.3 billion by 2006, IDC projects.
"We expect this market opportunity to continue its path of expansion and growth into new arenas of service," said Brian Bingham, program manager of IDC's CRM and Customer Care Services research program. "Service providers can expect to see a furtherance in the revenue opportunities from clients in search of CRM strategy consultation and outsourced customer care services over the next five years."
Customer care service providers and CRM service firms should advocate an incremental approach to CRM as part of a long-term vision, IDC notes. Companies also should expand their vertical-industry expertise and be receptive to partnering, IDC adds.
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