The interaction customer relationship market (ICRM) in India is likely to touch a total of $149.6 million in 2008, according to a study by the leading consultants, Frost and Sullivan. The market is expected to grow at a steadier compound annual growth rate (CGAR) of 25.2 per cent.
The study also emphasizes that the market registered a high growth of 129.4 per cent to touch $31 million in 2001. "This growth was primarily driven by growth of both inhouse and outsourced call centers in India that cater to the international demand" the study says. The report also points out that the outsourced call center market would be the key driver for ICRM in India. Frost and Sullivan's research on the Indian call center market says that the outsourced call center market is likely to grow at over 22 per cent CAGR over the year 2002, to 2008.
The consultants cite Tata-Avaya, Lucent and Servion global as the three leading vendors and solution providers in the Indian market for call center hardware and software. The research also says that India is well equipped, with excellent skills and low cost resources to exploit the growing global alignment towards Asia in the field of ICRM.
"From 1999, India has emerged as one of the preferred countries for setting up call centers", the research says, adding that the need for world-class customer interaction system drives the need for call center software too.