Global Customer Care BPO Market anticipated to grow 0.7x by the end forecast period with a CAGR of over 8.43% during the forecast period (2022-2030).
According to the Regional Research Reports, the Global Customer Care BPO Market was valued at US$ 20.17 billion in 2021 and is projected to reach US$ 35.41 billion by 2030. The Customer care BPO market is expected to grow at a CAGR of 8.43% from 2022 to 2030.
Based on end-use, the Healthcare BPO market is segmented into patient enrollment, revenue cycle management, and patient care. The revenue cycle management services segment accounts for the largest share of 70.8% of the healthcare BPO market in 2021. The revenue cycle management services market is being driven by a declining trend in reimbursements in the healthcare industry, reductions in the healthcare costs, government initiatives to implement revenue cycle management solutions, and increased expenditure by the healthcare IT industry.
Tata Consultancy Services (TCS) was the third-largest player in the healthcare BPO market. TCS is a pioneer in offering innovative, best-in-class consulting and IT solutions and services, such as engineering and industrial services, business services, assurance services, digital enterprise, application services, managed financial services, infrastructure services, logistics, and managed services.
Customer Care BPO Market Trends
Demand for Reduction in Operational Cost of Businesses
There is a wide gap between the wage pattern of eastern and western countries. The wage rate is comparatively very low in developing countries of Asia-Pacific such as India and China when compared to western countries such as the U.S. and U.K. The wage difference varies up to 60%. Moreover, the company does not have to make investments in infrastructure. Customer care BPO also enables to save cost on recruitment and training. With the increasing need for cost-cutting to run the business significantly, companies are opting for customer care BPO and are impacting the market growth positively.
Solution -Based Market Insights
The global customer care BPO market is segmented on basis of solution as onshore, offshore, and nearshore. The most prominent solution in Customer care BPO market accounted for nearshore outsourcing segment to serve its services to neighboring countries and region along with the domestic country. Offshore outsourcing held the second largest market in 2019, and is anticipated to lose its shares during the forecast period from 2021 – 2027.
Global Customer Care BPO Market Segmentation:
Global Customer Care BPO Market, by Type (2018-2021, 2022-2030, USD Million, % Share, Y-o-Y Growth)
- Multichannel Client Services
- Multilingual Client Services
- Others
Global Customer Care BPO Market, by Solution (2018-2021, 2022-2030, USD Million, % Share, Y-o-Y Growth)
- Onshore Outsourcing
- Offshore Outsourcing
- Nearshore Outsourcing
Global Customer Care BPO Market, by End-Use (2018-2021, 2022-2030, USD Million, % Share, Y-o-Y Growth)
- Telecom and IT
- BFSI
- Healthcare and Life Sciences
- Government and Public
- Retail and Consumer Goods
- Others
Based on the region, the Global Customer Care BPO printing market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2021, North America held the largest share in the global Customer Care BPO, followed by Asia Pacific.
Global Customer Care BPO Market, by region
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
Major market players covered in the Global Customer Care BPO Market:
- Premier BPO
- Bernard
- NTT DATA
- Teleperformance
- Comdata
- Taskus
- Sykes Enterprises
- Infosys
- Serco
- Convergys
- Alorica
- TTEC
- Fusion
- Acticall (Sitel)
- HKT Teleservices
- Atento
(Note: The list of the major players will be updated with the latest market scenario and trends)
Competitive Landscape:
- Established companies in the market with a major market share
- Emerging players who are growing rapidly
- New Entrants and Prominent Startups
- Competitive Product Benchmarking
- Product Development Matrix
Regional Research Reports Key Takeaways:
- Growth prospects
- SWOT analysis
- Key trends
- Key data-points affecting market growth
Objectives of the Study:
The Global Customer Care BPO market report provides a thorough analysis of macro-economic factors and every segment's market attractiveness. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the market players' presence in the respective segment and region/country. The information concluded in the report includes the inputs.
Global Customer Care BPO Market Report Covers Comprehensive Analysis On:
- Market Segmentation & Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply & Demand Analysis
- Product Life Cycle Analysis
- Porter's Five Forces & Value Chain Analysis
- Developed & Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, & Trends
- Conclusion & Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
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