The call center sector is expected to hit about $20.4 billion in revenues in the next six years, accounting for over half of the total target of the information technology and business process management (IT-BPM) industry.
This was just a conservative target for 2022, amid recent developments that may prove positive for both the sector and the entire industry, the Contact Center Association of the Philippines (CCAP) said.
CCAP board chair Benedict C. Hernandez said the sector accounts for two-thirds of revenue, employment, and contracts done in the IT-BPM industry but “we are growing [collectively].”
In the next six years, the Philippine IT-BPM Roadmap 2022 expects the entire industry to grow up to $38.9 billion.
“Last year, we were about 751,000 people. I think that’s about $15 billion worth of revenues. In the next six years we’d continue to grow, I think the number [in terms of] employment is almost 1.2 million,” he said, citing a study from market research firm Frost & Sullivan.
Hernandez attributed the growth of the call center sector to diversification, noting that more companies were now offering end-to-end and industry-specific services.
He also said demand according to geographical regions were beginning to diversify, although North America still accounted for over 70 percent. Of this figure, the US has around 80 percent share, he added.
IT-BPM firms also stood to benefit from the weakening peso against the dollar, he said. This advantage was helping the country close the gap with India, the current global leader in the industry, he said.