Global CX outsourcing market to hit $173.68Bn by 2029

DUBLIN, IRELAND — A recent report by ResearchAndMarkets.com projects the global Customer Experience (CX) outsourcing market will nearly double, reaching $173.68 billion by 2029 from $90.87 billion in 2022.

With a compound annual growth rate (CAGR) of 10% from 2024 to 2029, this growth is attributed to an increasing emphasis on customer experience as a key business priority.

The report also underlines the impact of the COVID-19 pandemic, emphasizing the critical need for a resilient and robust customer service framework. 

Further, technological innovations are expected to boost the CX outsourcing market’s evolution, specifically in artificial intelligence (AI), automation, big data, and cloud services in modernizing customer support operations.

ResearchAndMarkets.com also highlighted the integration of AI-powered chatbots and virtual assistants as they help expedite customer query responses around the clock and free up human agents to focus on intricate tasks, boosting operational efficiency and cutting costs.

According to ResearchAndMarkets.com, such technological advancements are key to the market’s future growth, as they allow CX outsourcing firms to provide more personalized and exceptional customer service to customers worldwide.