Customer care BPO market to surge to $86Bn by 2030 — The Market Reports
PUNE, INDIA — The global Customer Care Business Process Outsourcing (BPO) market is on a trajectory of robust growth, with an expected growth to $86 billion in 2030 from $57 billion in 2023.
Indicating a Compound Annual Growth Rate (CAGR) of 6.0%, research firm The Market Reports attributed this surge to the increasing demand for outsourcing customer care operations to third-party service providers, a practice that has become integral to enhancing customer experience across various industries.
The market encompasses both onshore and offshore outsourcing, with onshore outsourcing having a market share of over 63%.
The Market Reports also revealed that the telecom and information technology (IT) sectors are the primary beneficiaries of these services, accounting for more than 40% of the applications in the Customer Care BPO market.
Other significant sectors include Banking, Financial Services, and Insurance (BFSI), Healthcare and Life Sciences, Government and Public, as well as Retail and Consumer Goods.
Key players in the sector, such as Teleperformance SA, Convergys, Arvato, Sykes Enterprises, and Atento, collectively hold approximately 20% of the market.
Region-wise, Europe emerged as the largest customer care BPO market, commanding a share of over 30%.
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