What Is The Current and Historic Market Size Analysis Of The Outsourced Customer Care Services Market?
The outsourced customer care services market has seen considerable growth due to a variety of factors.
• In recent years, the market size of outsourced customer care services has been experiencing robust growth. The market is projected to rise from $73.54 billion in 2024 to $77.32 billion in 2025, representing a compound annual growth rate (CAGR) of 5.1%.
Factors propelling growth in the historical period include the need for mobility services, a swift transition in preference from enriched to transformational services, demand for services of higher value, the incorporation of outsourced customer care services, and economic expansion.
What Are The Predictions for The Outsourced Customer Care Services Market in the Coming Years?
The outsourced customer care services market is expected to maintain its strong growth trajectory in upcoming years.
• The market for outsourced customer care services is predicted to experience consistent expansion in the upcoming years, swelling to $93.19 billion in 2029 with a compound annual growth rate (CAGR) of 4.8%.
The projected growth during the forecast period may be credited to the escalating requirement for customer service via instant messaging, expanded demand and existence of tax-exempt zones, elevated consumer expectations for smooth and effective services, growing requirements for wireless devices, and rising disposable incomes. Key trends during this forecast period comprise digital transformation and omnichannel support, mechanization of monotonous tasks, application of artificial intelligence (AI) and chatbots, incorporation of advanced technologies, and product innovation.
Which Drivers Are Accelerating Growth In The Outsourced Customer Care Services Market?
Anticipated growth in cloud-based services is set to catalyze the development of the outsourced customer care services sector in the near future. These services encapsulate compute resources, applications, and online data storage, proffering flexibility, scalability, and convenience regardless of location. Attributes such as cost-efficiency, easy access and remote work capabilities, data security, and regulatory compliance, make cloud-based services significant. They empower outsourced customer care service providers to foster innovation, save costs, and nurture business growth while offering their clients superior, effective, and expandable support solutions. For example, AAG IT Services, a company located in the UK which offers a comprehensive range of IT services, generated revenue exceeding $415 billion in 2022 for public cloud services, experiencing an increase from $343 billion in 2021. Revenue from public cloud services is projected to reach $526 billion in 2023. Consequently, the evolution of cloud-based services constitutes a key factor for the growth of the outsourced customer care services market.
What Are The Core Segments Of The Global Outsourced Customer Care Services Market?
The outsourced customer care services market covered in this report is segmented –
1) By Type: CRM Technology Hosting, Fulfillment Or Logistics, Customer Interaction
2) By Application: Pharma And Healthcare, Food And Beverages, Chemical And Material, Construction, Logistics, Other Applications
3) By End-User: Small And Medium Enterprises (SMEs), Large Enterprises
Subsegments:
1) By CRM Technology Hosting: Cloud-Based CRM Hosting, On-Premise CRM Hosting
2) By Fulfillment Or Logistics: Order Processing And Tracking, Inventory Management, Shipping And Delivery Services
3) By Customer Interaction: Voice-Based Support, Email And Chat Support, Social Media Support, Self-Service And Automated Support
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How Are New Trends Impacting The Size Of The Outsourced Customer Care Services Market?
The primary players in the outsourced customer care services market are concentrating their efforts on crafting unique solutions like Rimini ONE, an outsourcing service initiative, to solidify their standing in the market. Rimini ONE offers a complete range of unified and integrated services for managing enterprise applications, databases and technological software. As an example, in March 2023, Rimini Street, Inc., a company based in the US that offers end-to-end enterprise software support, products, and services, introduced Rimini ONE. This outsourcing service program is designed to provide a wide range of unified, integrated services for managing enterprise applications and software. This move aims to assist businesses in streamlining operations and making the most out of their existing software, eliminating the need for vendor upgrades or migrations.
Who Are the Key Players In The Outsourced Customer Care Services Market?
Major companies operating in the outsourced customer care services market are:
• Accenture plc
• Tata Consultancy Services Limited
• Capgemini SE
• NTT DATA Corporation
• Cognizant
• Infosys Limited
• iQor
• HCL Technologies Limited
• Wipro Limited
• Teleperformance SE
• Tech Mahindra
• Arvato
• Serco Group plc
• Genpact
• Capita
• Alorica
• EXL Service
• Hinduja Global Solutions Ltd.
• Atento
• Sitel Group
• Sykes Enterprises Inc.
• Transcom WorldWide AB
• Sutherland Global Services
• TeleTech
• VXI Global Solutions LLC
• Intelenet Global Services
• Stream Global Services
What Are The Regional Insights Into The Outsourced Customer Care Services Market?
North America was the largest region in the outsourced customer care services market in 2024. The regions covered in the outsourced customer care services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
