Many industry leaders and those who are still looking for employment will undoubtedly be satisfied to hear that the Philippine contact center industry is projected to sustain its growth in the next five years, from about US$ 6.2 billion in revenues for 2010 to about US$ 14.7 billion by 2016 - more than doubling the size of the industry, and corresponding to a compounded annual growth rate (CAGR) of 15 percent.
The Contact Center Association of the Philippines (CCAP) just released a report highlighting the dominance of the country's contact center industry in the global outsourced voice services market with revenue growth outpacing the global benchmark by almost twice the rate and its global market share growing to 24 percent, or almost 50 percent higher than its share five years ago.
At the same time, the industry is expected to employ about 816,000 FTEs (full-time equivalents) by the end of 2016 from about 344,000 in 2010. Seat capacity is also projected to grow to more than 500,000 by 2016.
To further emphasize the remarkable growth of the industry, the estimated revenue for the Philippines for 2010 has exceeded the estimated revenue of India at US$ 5.6 billion to US$ 5.9 billion.
This was attributed to the increase in the Philippines' share in the global call center outsourcing market from 15 percent in 2006 to nearly 24 percent in 2010.
The market share is also projected to increase to about 29 percent by 2016 if the industry's growth is sustained at the projected CAGR of 15 percent.
The growth of the Philippine contact center industry from 2006 to 2010 (at 15 percent CAGR) was noted to be comparably faster than the rest of the world, which is projected to grow by only 12 percent over the same period.
During the rapid growth of the Philippines in the last five years, other milestones were also achieved - from a diversification of support for up to 17 languages; an expansion of market reach to now include EMEA (Europe, Middle East and Asia), Latin America and Australasia; an extension of industry experience and expertise to now support a wider array of industry verticals including banking and finance, high technology, telecommunications, power/energy, airline, and government services; and an elevation of service offerings to now include financial advisory, health care management, legal help desk, B2B technical support, and sales channel management.
The Contact Center Association of the Philippines (CCAP) just released a report highlighting the dominance of the country's contact center industry in the global outsourced voice services market with revenue growth outpacing the global benchmark by almost twice the rate and its global market share growing to 24 percent, or almost 50 percent higher than its share five years ago.
At the same time, the industry is expected to employ about 816,000 FTEs (full-time equivalents) by the end of 2016 from about 344,000 in 2010. Seat capacity is also projected to grow to more than 500,000 by 2016.
To further emphasize the remarkable growth of the industry, the estimated revenue for the Philippines for 2010 has exceeded the estimated revenue of India at US$ 5.6 billion to US$ 5.9 billion.
This was attributed to the increase in the Philippines' share in the global call center outsourcing market from 15 percent in 2006 to nearly 24 percent in 2010.
The market share is also projected to increase to about 29 percent by 2016 if the industry's growth is sustained at the projected CAGR of 15 percent.
The growth of the Philippine contact center industry from 2006 to 2010 (at 15 percent CAGR) was noted to be comparably faster than the rest of the world, which is projected to grow by only 12 percent over the same period.
During the rapid growth of the Philippines in the last five years, other milestones were also achieved - from a diversification of support for up to 17 languages; an expansion of market reach to now include EMEA (Europe, Middle East and Asia), Latin America and Australasia; an extension of industry experience and expertise to now support a wider array of industry verticals including banking and finance, high technology, telecommunications, power/energy, airline, and government services; and an elevation of service offerings to now include financial advisory, health care management, legal help desk, B2B technical support, and sales channel management.
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