Customer Care BPO Market to Drive with A CAGR Of 5.6% by 2025

Global customer care BPO market size is projected to witness the growth of USD 88.72 billion by 2025. The major trends driving the market growth are advanced technologies such as a focus on cost reduction, integration of cloud, analytics and automation technologies in the BPO services.

Get Research Insights @ Customer Care BPO Market Revenue, 2019-2025 (USD Billion)

The market research report on the global customer care BPO market learns the market demand and scenario for the period ranging from 2014 to 2025. Moreover, the report delivers a key highlight of the historical trends from 2014 to 2017 and the market forecast from 2019 to 2025. The report studies in-depth learning about the current status and future prospects of the market at a global level. The global customer care BPO market is majorly segmented into type, application, and geography.

The report includes quantitative as well as several qualitative aspects of the global customer care BPO market such as market drivers, market opportunities, and key industry trends. Furthermore, the report is a potential delivery of the market competition with company profiles of global as well as local players.

In terms of type overview, the global customer care BPO market is categorized into onshore and offshore outsourcing. Offshore Outsourcing contributed 39.2% of the total market share in 2018 and is expected to register steady growth at a CAGR of 5.1% over the forecast period. Even though, the onshore outsourcing held the highest market share compared to this segment, the demand for offshore outsourcing customer care BPO market is at a growing stage over the forecast period. Advanced technologies that have introduced in the recent past including robotic process automation (RPA) are expected to push the BPO industry to the next level.

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Telecom & IT customer care BPO contributed 35.3% of the total market share in 2018 and is expected to witness significant growth over the forecast period. Due to increasing requirement of IT services as a major service offered to the customers, these applications hold the highest demand providing specialized data analysis, customer acquisition, and customer care services to run business reliable and profitable.

Moreover, the industry operates to provide tech support business, customer care BPO companies are focusing on providing better connectivity and has witnessed substantial improvement over the last few years. This trend will positively impact the market growth and with the changing dynamics and increasing demand for telecom providers are estimated to witness major growth in the coming years.

Leading players of the global customer care BPO market include Teleperformance SA Spot, Convergys, Atento, Star Trek Inc., Arvato, TeleTechHoldings, Serco, Acticall (Sitel), West Corporation, Webhelp, Amdocs, Transcom, Infosys BPM, and Comdata Network, Inc.

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Key segments of the global customer care BPO market

Type Overview, 2014 – 2025 (USD Million)

• Onshore Outsourcing
• Offshore Outsourcing

Application Overview, 2014 – 2025 (USD Million)

• Telecom & IT
• BFSI
• Healthcare & Life Sciences
• Government & Public
• Retail & Consumer Goods
• Others

Regional Overview, 2014 – 2025 (USD Million)

• North America
• US
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Rest of APAC
• Rest of the World

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Analyst Commentary You know the Customer Care BPO Market is growing. But do you know what it is becoming?

With the growing awareness of social media, companies are realizing the power of online marketing. It provides an outstanding wealth of consumer data that can boost a company’s strength to analyse fresh trends and innovations. Moreover, companies are focusing on investing in real-time customer engagement that allows them to gain product insights and fix errors into newly launched products to minimize future problems.

Many BPO-based organizations are also taking an interest in investing in advanced technologies such as robotic process automation, cloud computing and software, and social media to maximize growth and reduce costs in their supplying countries. Around 52% of the businesses are highly concerned about the lack of skilled employees as the demand for skilled labor is increasing in the BPO industry.

What does the report include?

• Significant parameters that impact the market such as drivers, restraints, and opportunities have been discussed in detail in the report.
• The study analyzes the market dynamics using various tools including Porter’s Five Forces Model and value chain analysis.
• In-depth analysis based on segmentation by type, application, and region which assist in estimating the market potential in the forecast period.
• Company profiles of the key players in the global customer care BPO market which include product offering, financial performance and key strategic initiatives.

Analysis of trends that are likely to drive and restrain the market during the forec

Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018.