Customer Care BPO Market 2027 By Solution, End-User | The Insight Partners

The customer care BPO market was valued at US$ 18.85 billion in 2019 and is projected to reach US$ 30.40 billion by 2027. The Customer care BPO market is expected to grow at a CAGR of 6.2% during the forecast period of 2020 to 2027.

The customer care BPO market is expected to grow at a significant pace during the forecast period. With the increasing competition, rise in technological innovation, partnerships among the vendors, many regional and global players are offering specific application products for customers. The North America region is expected to hold a major market share of the customer care BPO market, whereas South America and Asia-Pacific are expected to witness high year-on-year growth during the forecast period. For the players in the BPO industry, focus towards development of hybrid strategy between the data capacity, automation, and workflow management might help the companies to sustain in the agile customer care BPO market. With continuous evolution taking place within the BPO industry due to rising demand for delivering better customer experience, improvements in automation, and an urge to fulfill the growing expectations of frustrated users. To achieve all these aspects efficiently, technology is capable to assist the players. At a current scenario, digital technology offers solutions to broad array of industries. Pertaining to high proficiency skills of technology for the BPO industry, few tech-based solutions has incorporated related solutions in their business.

The market for customer care BPO is segmented on the basis of solution and end-user. Based on solution, the customer care BPO market is segmented into onshore outsourcing, offshore outsourcing, and nearshore outsourcing. On the basis of end-user, the Customer care BPO market is segmented into BFSI, IT & telecommunication, manufacturing, retail & e-commerce, healthcare & pharmaceutical, transport & logistics, media & communication, and automotive. Geographically, the market is fragmented into five regions, including North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The spending on customer care BPO is quite high in both developed and developing regions such as North America, Europe, and the Asia Pacific. The demand for customer care BPO is expected to grow further during the forecast period of 2020 to 2027.

Lucrative Regions in Customer care BPO Market

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Customer Care BPO Market Insights

Demand for Reduction in Operational Cost of Businesses

There is a wide gap between the wage pattern of eastern and western countries. The wage rate is comparatively very low in developing countries of Asia-Pacific such as India and China when compared to western countries such as the U.S. and U.K. The wage difference varies up to 60%. Moreover, the company does not have to make investments in infrastructure. Customer care BPO also enables to save cost on recruitment and training. With the increasing need for cost-cutting to run the business significantly, companies are opting for customer care BPO and are impacting the market growth positively.

Solution -Based Market Insights

The global customer care BPO market is segmented on basis of solution as onshore, offshore, and nearshore. The most prominent solution in Customer care BPO market accounted for nearshore outsourcing segment to serve its services to neighboring countries and region along with the domestic country.  Offshore outsourcing held the second largest market in 2019, and is anticipated to lose its shares during the forecast period from 2021 – 2027.

Customer Care BPO Market, by Solution – 2019 and 2027

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End-User -Based Market Insights

The global Customer care BPO market is segmented on basis of end user as BFSI, IT and telecommunication, healthcare and pharmaceuticals, retail and e-commerce, transportation and logistics, media and communication, automotive, and others. The most prominent type in customer care BPO market accounted for IT & telecommunication segment as the telecom industry is boosting significantly globally.

Strategic Insights

Players operating in the Customer care BPO market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the customer care BPO market. A few developments by key players of the customer care BPO market are:

In June 2019, Sitel announced its plans to open a new customer service business in Knoxville. For this, the company is planning to hire 200 new employees. Also, the company’s new office will now become its key location in Tennessee.

In May 2019, Alorica Inc. continues to broaden its footprint in Asia-Pacific with the addition of an innovations lab and digital business processing management operations located in Bengaluru.

Customer Care BPO Market – by Solution

• Onshore Outsourcing
• Offshore Outsourcing
• Nearshore Outsourcing

Customer care BPO Market – by End User

• BFSI
• IT and Telecommunication
• Healthcare and Pharmaceutical
• Retail and e-Commerce
• Transportation and Logistics
• Media and Communication
• Automotive
• Others

Customer care BPO Market – by Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Spain
  • UK
  • Italy
  • Rest of Europe

• Asia Pacific (APAC)

  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of APAC

• MEA

  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA

• SAM

  • Brazil
  • Argentina
  • Rest of SAM

Customer care BPO Market – Company Profiles

• Alorica Inc.
• Arvato AG
• Atento S.A.
• COMDATA GROUP
• CONCENTRIX corporation
• SITEL group
• Sykes Enterprises, Incorporated
• Teletech Holdings
• Teleperformance
• webhelp