Frost & Sullivan: Low Employment Costs is a Top Driver for Vietnam's Fast-growing Contact Center market

Frost & Sullivan: Low Employment Costs is a Top Driver for Vietnam's Fast-growing Contact Center market PR Newswire KUALA LUMPUR, Malaysia, Sept. 25, 2012 KUALA LUMPUR, Malaysia, Sept. 25, 2012 /PRNewswire/ -- Vietnam's economic growth rate has been among the highest in the Asia Pacific region in recent years, with an annual GDP rate of 7% - 8.5%. With customer service becoming a key focus in Asia Pacific, Vietnam is improving customer relationships for the purpose of greater loyalty, brand recall and profitability. According to Dao Thi Minh Thao, Research Associate, ICT Practice, Frost & Sullivan APAC, this effort is leading to an impressive growth in its contact center industry that was estimated to be worth US$4.2 million in 2011 and is expected to reach US$11.4 million in 2018 with a growth rate of 15%. Basic applications like Automatic Call Distributor (ACD), Computer Telephony Integration (CTI), Interactive Voice Response (IVR), and Call Monitoring (CM) are still leading the trends in the Vietnam contact center market. "ACD is the biggest contributor that accounts for almost 40% of all applications and is still growing at a fast rate as majority of contact centers' primary purpose is to support incoming voice calls. It is forecasted that in 2018, ACD will reach the saturated status of 31.7% from 37.3% in 2011 and start to slow down. The same will happen to other current major applications like CTI and IVR," said Thao.