Customer care market to exceed USD84.5bn by 2020

A study conducted by Hexa Research showed that the global outsourced customer care services market is poised to exceed USD84.5bn by 2020 as demand for interaction through non-voice channels continues to surge. The study also forecast that the Asia Pacific outsourced customer care services market, which was valued at USD10bn in 2013, is likely to grow at 7% over the forecast period. The growth of the market in the region will be buoyed by the emergence of India and the Philippines as preferred outsourcing destinations, the report added. Customer interaction market size was valued at over USD51bn billion in 2014, and was the foremost service activity segment. This segment is forecast to account for USD68.5bn by 2020.