Customer experience outsourcing market to reach $205.1Bn by 2032
DELAWARE, UNITED STATES — The global customer experience outsourcing services market is on track for remarkable growth, projected to reach $205.1 billion by 2032. This represents a compound annual growth rate (CAGR) of 11.1% from its 2023 valuation of $79.4 billion, according to a report by Allied Market Research.
The expansion is largely driven by the increasing adoption of automated customer services and digital transformation efforts across various industries.
Driving forces behind market expansion
Several factors are propelling the market’s growth, including the rising popularity of automated customer services among businesses and ongoing digital transformation initiatives.
However, the market faces challenges such as a shortage of skilled professionals in certain regions and a lack of awareness about technological advancements.
Despite these hurdles, increased investments in IT infrastructure in developing countries are expected to create new opportunities for market growth during the forecast period.
Leading segments: Outbound services and voice channels
In 2023, the outbound service segment held the largest market share. These services enable companies to explore new markets and connect with potential customers through targeted outreach programs.
Additionally, the voice support channel dominated the market, offering solutions for complex queries and providing real-time technical assistance.
Industry sectors and regional insights
The IT and telecommunications sector emerged as the leading end-user segment in 2023, with companies increasingly adopting subscription-based customer service models.
North America led the market in terms of revenue, driven by technological advancements and digital transformation across sectors such as telecommunications, IT, retail, and finance.
Future outlook and strategic developments
The customer experience outsourcing services market is expected to maintain its upward trajectory, bolstered by technological innovations and strategic investments.
Notable industry trends include the UK government’s $6.09 billion investment framework for outsourced contact center services and Japan’s initiative to enhance IT applications in government organizations.
Additionally, the Reserve Bank of India has introduced norms for IT outsourcing to ensure customer protection.
Competitive landscape: Key players and innovations
Major players in the market include Teleperformance, Acquire BPO, and Concentrix. Recent strategic developments include NTT DATA’s launch of a security management outsourcing service and Rimini Street’s introduction of Rimini ONE, a comprehensive outsourcing service program.
As the market evolves, businesses are increasingly turning to customer experience outsourcing providers to enhance their digital value propositions and drive customer satisfaction. The continued focus on digital transformation and technological advancements is expected to propel the market forward, offering substantial growth opportunities for industry participants.
