Customer Care BPO market to surpass $34Bn by 2028

PUNE, INDIA — The Customer Care Business Process Outsourcing (BPO) market is expected to reach US$34.57 billion by 2028 at a compound annual growth rate (CAGR) of 7.5%

Market research firm Insight Partners attributed the market’s impending growth to the rising focus on customer satisfaction and the significant cost benefits of outsourcing. 

The report also stated that the COVID-19 pandemic highlighted the importance of outsourcing for business continuity and flexibility. BPO service companies can provide intelligent solutions that aid in better insights and problem-solving abilities.

The IT sector, in particular, is expected to provide significant opportunities for growth in the customer care BPO market as businesses increasingly move online and rely on technology. 

By geography, North America is projected to witness significant market growth from 2023 to 2028, with the availability of efficient infrastructure in developed nations such as the United States and Canada and the increased focus on customer experience management to retain existing customers and convert first-time users to repeat customers.

Insight Partners estimated the Customer Care BPO industry to have reached US$22.59 billion last 2022.