What is Global Customer Care BPO Market?
The Global Customer Care Business Process Outsourcing (BPO) Market is a vast and dynamic sector that encompasses a wide range of services provided by third-party vendors to businesses worldwide. These services are aimed at enhancing customer experience and satisfaction levels, thereby contributing to the overall growth and success of the businesses. The market is characterized by the provision of customer care services such as customer support, technical support, telemarketing, debt collection, and other related services. These services are often outsourced by businesses to BPO firms to focus on their core competencies and achieve cost efficiencies. The global customer care BPO market is witnessing significant growth due to the increasing need for businesses to maintain a competitive edge in the market by providing superior customer service.
Onshore Outsourcing, Offshore Outsourcing in the Global Customer Care BPO Market:
Onshore and offshore outsourcing are two key aspects of the Global Customer Care BPO Market. Onshore outsourcing refers to the practice of hiring an external organization within the same country to perform certain business functions. This type of outsourcing is often preferred by businesses due to the ease of communication and cultural similarities. On the other hand, offshore outsourcing involves contracting business processes to a third-party service provider in a foreign country. This is often done to take advantage of lower labor costs, specialized skills, or favorable economic conditions in the foreign country. Both onshore and offshore outsourcing play a crucial role in the global customer care BPO market, providing businesses with the flexibility to choose the most suitable and cost-effective solution for their needs.
Telecom and IT, BFSI Outsouring, Healthcare and Life Sciences, Government and Public, Retail and Consumer Goods, Others in the Global Customer Care BPO Market:
The Global Customer Care BPO Market finds extensive application in various sectors such as Telecom and IT, BFSI Outsourcing, Healthcare and Life Sciences, Government and Public, Retail and Consumer Goods, among others. In the Telecom and IT sector, customer care BPO services are used to handle customer queries, complaints, and technical issues. In the BFSI sector, these services are used for handling customer inquiries, account management, and debt collection. The Healthcare and Life Sciences sector uses BPO services for patient care, appointment scheduling, and medical billing. In the Government and Public sector, these services are used for citizen services, complaint handling, and public information dissemination. The Retail and Consumer Goods sector uses these services for customer support, order management, and product information services.
Global Customer Care BPO Market Outlook:
The global Customer Care BPO market is on a growth trajectory, with its value standing at US$ 60830 million in 2022. It is projected to reach US$ 86290 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period of 2023-2029. The market is dominated by key players such as Teleperformance SA, Convergys, Arvato, Sykes Enterprises, Atento, who collectively account for about 20% of the market. Europe holds the largest market share, contributing over 30% to the global market. Onshore outsourcing is the most common product in this market, accounting for over 63% of the services. The Telecom and IT sector is the largest consumer of these services, holding a market share of over 40%.
| Report Metric | Details |
| Report Name | Customer Care BPO Market |
| Accounted market size in 2022 | US$ 60830 in million |
| Forecasted market size in 2029 | US$ 86290 million |
| CAGR | 6.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Teleperformance SA, Convergys, Arvato, Sykes Enterprises, Atento, TeleTech Holdings, Serco, Acticall (Sitel), Alorica, Webhelp, Amdocs, Transcom, Comdata, West Corporation, Infosys BPM, StarTek Inc |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
