Global CX outsourcing to hit $152B By 2028
DUBLIN, IRELAND — The global customer experience (CX) outsourcing market is projected to grow from $98.57 billion in 2023 to $152.13 billion in 2028, representing a compound annual growth rate (CAGR) of 5.80%.
According to research firm ResearchAndMarkets.com, the key factors driving the market’s growth include the increased focus on customer-centricity, cutting costs, and trends like digitalization enabling advanced CX solutions.
Outsourcing helps companies access specialized expertise in AI-powered chatbots, predictive analytics, and omnichannel support to improve customer interactions.
North America currently leads the CX outsourcing market, but Asia Pacific is forecasted to experience the fastest growth at over 8% CAGR from 2023 to 2028.
Asia Pacific’s expanding middle class and e-commerce sector are spurring demand for outsourced customer support. Latin America also presents significant opportunities given its labor cost advantages.
The report also noted that the global CX market is highly fragmented, with the top eight players holding just 30% share. Major companies like Genpact, Teleperformance, Concentrix, and Infosys offer a wide range of CX services globally. Additionally, many regional and niche providers cater to local markets.
While COVID-19 initially disrupted operations, it accelerated digital transformation and highlighted the importance of customer experience. Post-pandemic resilience and business continuity have become priorities for CX outsourcing partnerships.
Overall, specialization and technological innovation continue to shape the competitive landscape. Market leaders actively pursue investments, mergers, and acquisitions to augment capabilities as evolving customer preferences raise the stakes for CX.
