Global Customer Experience (CX) Outsourcing Services Market

Global Customer Experience (CX) Outsourcing Services Market Size, Share, Growth Analysis, By Component(Software, Services), By Deployment(On-premises, Cloud), By Application(IT or Administrative Support Outsourcing, Marketing & Sales Outsourcing), By Industry(Healthcare, Government) - Industry Forecast 2024-2031

Report ID: SQMIG45D2051 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 118 | Figures: 77

Global Customer Experience (CX) Outsourcing Services Market News

  • In March 2022, Conectys partnered with one of the biggest nutrition and beauty firms in the world as their sole global partner for customer experience solutions. The client, who has operations in the United States, Dublin, and Seoul, creates nutrition solutions that are as convenient as possible for people at each stage of life.
  • In March 2022, Conectys teamed with an inspirational television network, in order to assist clients streamline and manage the costs of their customer experience initiatives.
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Customer Experience (CX) Outsourcing Services Market size was valued at USD 75.88 billion in 2019 and is poised to grow from USD 78.92 billion in 2023 to USD 112.32 billion by 2031, growing at a CAGR of 4.01% in the forecast period (2024-2031).

Players collaborate and invest in businesses that are creating cutting-edge technology to enhance the capabilities of customer experience solutions. In order to increase their market position, the major firms participate in a number of acquisitions, partnerships, collaborations, and mergers. 'Accenture plc', 'Alorica Inc.', 'Convergys Corporation', 'Genpact Limited', 'Sitel Group', 'Teleperformance SE', 'Transcom Worldwide AB', 'Aegis Ltd.', 'Arvato AG', 'Atento S.A.', 'HCL Technologies Limited', 'Infosys Limited', 'Sykes Enterprises, Incorporated', 'TTEC Holdings, Inc.', 'VXI Global Solutions LLC', 'Webhelp SA', 'Wipro Limited', '24-7 Intouch Holdings Ltd.', 'Capgemini SE', 'Concentrix Corporation'

Technological developments are fueling the market expansion: Companies are implementing a variety of new technologies in response to the growing demand from customers for a better customer experience. Because of the vast potential and the investors who are investing to make money, this subject is receiving greater attention. In this competitive and dynamic industry, the use of artificial intelligence, advanced analytics, omnichannel capabilities, and effective security measures is becoming increasingly important. As an example, Amazon introduced "NOW" customer service, which strives to respond to consumer inquiries as quickly as possible. It utilizes cutting-edge technology services.

Incorporation of Virtual Assistants: Virtual assistants use customer insights derived from historical data to automate customer interactions. By offering 24x7 customer assistance, multilingual support, quick and accurate response, and other services, integration of virtual assistants like Amazon's Alexa, Apple's Siri, and others help redefine client engagement. Similar to this, virtual assistants assist in automating routine operations, speeding up self-service responses, and condensing organizational hierarchies to enhance employee and customer experience. It is anticipated that this aspect would increase demand for consumer experience solutions. Virtual assistants are being created for applications by companies like SAP SE, Salesforce, and Oracle Corporation. The use of these virtual assistants, also known as bots, by businesses to study consumer sentiment and provide tailored customer suggestions will increase demand for these products in the upcoming years.

Based on the region, the European region currently dominates the global customer experience (CX) outsourcing services market. This is due to the high cost of in-house services in the region. The decline in industry headcount is also accelerating market expansion in Europe. The corporations in the UK, Germany, and Denmark are heavily utilizing outsourcing services across industries, according to EY's Outsourcing.

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