Report : North America Customer Care BPO Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Solution (Onshore Outsourcing, Offshore Outsourcing, and Nearshore Outsourcing) and End User (BFSI, IT and Telecommunication, Retail and E-Commerce, Manufacturing, Healthcare and Pharmaceutical, Transport and Logistics, Media and Communication, Automotive, and Others)
At 7.7% CAGR, the North America Customer Care BPO Market is speculated to be worth US$ 12,003.48 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America customer care BPO market is expected to grow from US$ 8,275.80 million in 2023 to US$ 12,003.48 million by 2028, registering an annual growth rate of 7.7% from 2023 to 2028. Rising focus of organizations on ensuring greater customer satisfaction and huge cost benefits conferred by outsourcing customer care services are the critical factors attributed to the North America customer care BPO market expansion.
Customers, nowadays, scrutinize businesses and their offerings more intensely. They compare their experiences with other brands for easy, thorough, and fast decision-making, and personalized experiences. Customer satisfaction, which is essential for keeping current customers and retaining new ones, is the key to customer loyalty. As a result, organizations nowadays are increasingly focusing on enhancing consumer satisfaction. Customers are the most important part of businesses, and hence, enterprises try to improve customer satisfaction through customer care services. These services can be offered by departments hosted in-house or they can be outsourced to business process outsourcing (BPO) firms. Hence, companies subcontract their customer care functions by sharing all the relevant and important information about the company’s offerings to provide optimized experiences to their clients. BPO is a convenient and cost-effective practice that is widely used nowadays. It helps business owners reduce the work burden and concentrate on core aspects. Due to digital transformation, many companies have switched from traditional business process services (BPS) to technology-driven business process-as-a-service (BPaaS). Moreover, there is a notable difference between payment patterns in developed and developing Western countries. Thus, the rising focus of organizations on providing enhanced customer experience propels the demand towards North America customer care BPO market.
On the contrary, concerns regarding data security and privacy hurdles the growth of North America customer care BPO market.
On the basis of solution, the North America customer care BPO market is segmented into nearshore outsourcing, onshore outsourcing, and offshore outsourcing. The onshore outsourcing segment held 47.9% market share in 2023, amassing US$ 3,967.97 million. It is projected to garner US$ 5,551.16 million by 2028 to expand at 6.9% CAGR during 2023–2028.
Based on end user, the North America customer care BPO market is further segmented into oil & gas, IT & telecom, power & utility, and others. The IT & telecom segment held 27.8% market share in 2023, amassing US$ 2,298.63 million. It is projected to garner US$ 3,636.57 million by 2028 to expand at 9.6% CAGR during 2023–2028.
Based on country, the North America customer care BPO market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 47.3% market share in 2023. It was assessed at US$ 3,911.42 million in 2023 and is likely to hit US$ 5,976.75 million by 2028, exhibiting a CAGR of 8.8% during the forecast period.
Key players dominating the North America customer care BPO market are Alorica Inc, Comdata SpA, Concentrix Corp, Foundever Operating Corp, Front Logix Solutions LLC, Teleperformance SE, Telus International Cda Inc, TTEC Holdings Inc, and Webhelp Inc among others.
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