Global Customer Care BPO Market 2023-2030

Global Customer Care BPO Market 2023-2030

Global Customer Care Business Process Outsourcing (BPO) Market Size, Share, and Trends Analysis Report by Type (BPO Call Centers, and Customer Service Centers), and by Application (Telecom and IT, BFSI, Healthcare and Life Sciences, Government and Public, Retail and Consumer Goods, and Others), Forecast Period (2023-2030)

The global customer care BPO market is anticipated to grow at a considerable CAGR of 7.5% during the forecast period (2023–2030). The market's growth is attributed to factors such as expanding IT and telecommunications sectors will provide lucrative opportunities for customer care services globally. Uses of innovative management tools in its work and offers outsourcing solutions to the telecommunications industry. For instance, in April 2023, Infosys announced its collaboration with Service Now, a leading digital workflow company, to launch the Infosys Live Operations platform, aimed at enhancing customer experiences (CX) for telecom providers. They aid in the identification, attraction, and conversion of prospective customers into actual customers. They also specialize in sales statistics and analytics. Their specialists employ a sales strategy based on advanced technology, such as lead generation services. Outbound sales are accomplished through phone calls or mailing to email addresses

Segmental Outlook

The global customer care BPO market is segmented based on type and application. Based on the type, the market is segmented into BPO call centers, and customer service centers. Further, based on application, the market is segmented into IT and telecom, BFSI, healthcare and life sciences, government and public, retail and consumer goods, and others. Among the type, the BPO call center sub-segment is estimated to contribute to the growing demand for a group of specialists that handle customer service operations for other companies.

The BFSI Sub-Segment is Anticipated to Hold a Prominent Share of the Global Customer Care BPO Market

Among the type, the BFSI sub-segment is expected to hold a prominent share of the global customer care BPO market due to the growing demand for the desire for customized services, that compels organizations to focus on their core business and is especially essential in the current economic climate, is driving the growth of the BFSI customer care BPO market. The innovations in the latest digital tools and technologies, financial institutions are ready to provide their consumers with services that make transaction processes more efficient and convenient. For instance, in May 2022, Concentrix announced the acquisition of the b2b digital sales and customer success solution company Service Source. Concentrix will continue offering its CX services to the acquired company to a new customer base.

Regional Outlook

The global customer care BPO market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, the Asia-Pacific region is anticipated to grow at a significant rate over the forecast period, owing to the emergence of India as a key player in the field of BPO services, IT and software development. For nearly two decades, India has remained one of the BPO giants, providing a wide range of outsourcing services ranging from contact centers to tech services. . According to NASSCOM estimates, a total of 1.1 million people work in Indian BPM industry. More than 500 companies in India are offering outsourcing services in 35 languages to over 66 countries. About 200 MNCs operate out of India in this industry.

Global Customer Care BPO Market Growth, by Region, 2023-2030

Source: OMR Analysis

The North American region is expected to hold a prominent share of the global Customer Care BPO market.

The growth of the market is attributed to the presence of leading market players in the region headquartered in US or in Canada. These players adopt different strategies such as acquisitions, mergers, partnerships and new solutions which is anticipated to augment the market. Growing investment in BPO sector US For instance, in March 2022, The US-based company XtendOps, leader in BPO (Business Process Outsourcing) solutions, formally announced its installation in Aguascalientes, for that it will make an investment of US$5 million over the next three years, during said time it will be creating 300 jobs.

Market players' outlook

The major companies serving the global customer care BPO market include Simply Contact International, Foundever Operating Corp, Front Logix Solutions LLC., Teleperformance SE, Infosys and others. The market players are considerably contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2022, Concentrix acquired the B2B digital sales and customer success solution company. Concentrix will continue offering its customer experience (CX) services to the acquired company to a new customer base.

The report covers

Market value data analysis for 2022 and forecast to 2030

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions

Key companies operating in the global customer care BPO market Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market entry and market expansion strategies.

Competitive strategies by identifying ‘who stands where’ in the market.