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| Frost & Sullivan:Global Economic Slowdown Curtails Growth in APAC Contact Center Application MarketsGlobal Economic Slowdown Curtails Growth in APAC Contact Center Application Markets
By: Frost & Sullivan Domestic demand from some markets in the region helped to offset the decline at an Asia Pacific level. Domestic demand in smaller markets such as Vietnam and Indonesia remains largely untapped. These markets will contribute significantly in the future as competition intensifies and the focus on customer service increases. New analysis from Frost & Sullivan (http://www.contactcenters.frost.com) “Domestic demand has been particularly important in underpinning the market’s performance this year,” says Frost & Sullivan Senior Research Analyst Kunal Kakodkar. “The tide of IP migrations and the strong growth potential of the unsaturated markets in the region have been responsible for mitigating some of the losses suffered due to the global financial crisis.” The economic downturn affected spending in the banking and financial services and insurance (BFSI) sector as well as in many enterprises in Asia Pacific. The slump in outsourcing demand from the United States and Europe affected hubs such as India and the Philippines. Cutback in technology spending due to the economic climate in 2009 was the major cause for the contact center applications market’s poor performance. As the effects of the slowdown trickled down from BFSI to other verticals, outsourcing from the west and domestic spending were reined in. Low migration levels to full IP environments invariably due to budget cuts and security concerns had restrained market momentum. Mature markets such as Japan, South Korea, and Australia offer limited scope for organic growth. With the world economy entering a protracted phase of recovery, spending will resume and the markets will return to growth. However, intensifying focus on cost-saving and boosting productivity will persist. This means that segments such as agent performance optimization, self-service, analytics, and hosted applications will see increased growth in the future. “Hosted contact center solutions see strong traction in some markets in Asia Pacific, and a snowball effect is expected in other markets in the region as enterprises opt for the pay-per-use model over the high cost of purchase of advanced applications,” If you are interested in more information on this study, please send an e-mail to Donna Jeremiah, Corporate Communications, at djeremiah@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Asia Pacific Contact Center Applications Market CY 2009 is part of the Contact Centers Growth Partnership Services program, which also includes research in the following markets: Asia Pacific Contact Center Services and Hosted Contact Center Services. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Contact: Donna Jeremiah Corporate Communications – Southeast Asia P: +603 6204 5832 F: +603 6201 7402 E: djeremiah@frost.com http://www.frost.com # # # About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com. End
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