Market Research Report
North America Customer Care BPO Market to 2027 - Regional Analysis and Forecasts By Solution ; End-User
|Published by||The Insight Partners||Product code||907439|
|Published||Content info||140 Pages
Delivery time: 1-2 business days
|North America Customer Care BPO Market to 2027 - Regional Analysis and Forecasts By Solution ; End-User|
|Published: July 31, 2019||Content info: 140 Pages||
The North America Customer Care BPO market accounted for US$ 7.62 Bn in 2018 and is expected to grow at a CAGR of 4.5% over the forecast period 2018-2027, to account for US$ 11.12 Bn in 2027. The growing customer-centric businesses, the demand for cost-efficient, and value-added services are increasing. It is essential to provide the best customer service to all the customers, including new, existing, and potential customers. To serve the customer, businesses are opting for outsourced customer care service. Customer care BPO helps companies in various ways such as reduce operational cost, reduce workforce, gain competitive advantage, increase cross-selling & up-selling, increase customer loyalty & retention, build brand reputation, increase overall profitability, and others. The customers in today's highly competitive environment are very demanding in terms of services. Businesses are highly focused on offering excellent services to its customers. To fulfill the need for customer services, various enterprises are opting for outsourced customer care BPO. The growing concern for enhanced customer services is positively impacting the growth of the customer care BPO market.
Over the years, customer care BPO services are providing cost-effective services to their customers. To offer enhanced services to its customer in the competitive market, vendors are implanting various technologies such as RPA (robotic process automation) and AI (artificial intelligence). The RPA has profoundly impacted the entire BPO service. RPA is a cost-efficient, high speed with enhanced efficiency in customer service. Along with call center services, vendors offer real-time analysis and insights based on customer data. Vendors operating in the customer care BPO market have a tremendous opportunity to serve customers by implementing these new technologies along with the service portfolio. The emergence of new technologies is providing opportunities for players operating in the customer care BPO market to attract more customers by integrating new technologies.
The North America customer care BPO market is fragmented with the presence of several industries, and the competitive dynamics in the customer care BPO market is expected to change during the upcoming years. The customer care BPO market is highly competitive with the presence of some of the prominent players as well as small regional players.
The customer care BPO market by the solution is segmented into onshore outsourcing, offshore outsourcing, and nearshore outsourcing. Nearshore customer care BPO is the one that provides its services to neighboring countries along with their own country. The advantages of nearshore customer care BPO are they are less expensive and easier to serve its services due to commonalities between the cultures, proximity and time zone, as well as the high possibility of people speaking the same language. The value proposition for nearshore customer care services offered is easily available for every company, which is present and established in nearshore locations. Thus, the market players are switching towards the nearshore customer care services and entitled for the nearshore value proposition.
The overall North America customer care BPO market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America customer care BPO market. It also provides an overview and forecast for the North America customer care BPO market based on all the segmentation provided for the North America region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as V.P.s, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America customer care BPO industry. Some of the players present in customer care BPO market are Alorica Inc., Atento, Arvato AG, Concentrix Corporation, Sitel Group, Sykes Enterprises, Incorporated, Teleperformance SE, Teletech Holdings, Webhelp Group, and Worldwide Call Centers, Inc. among others.