Asia-Pacific Customer Experience Outsourcing Services Market, Growth Forecast to 2029
Published on: 02-Nov-2023 | SKU: IT_2023_278

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This study provides forecasts for the Asia-Pacific (APAC) customer experience (CX) outsourcing services market from 2021 to 2029. Organizations across the board realize the significance of delivering excellent customer service as a competitive differentiator. CX outsourcing services play an increasingly vital role in building a strong end-to-end customer journey as customer centricity takes center stage. This is bringing greater attention to and investment opportunities into the market.

The APAC CX outsourcing services market is becoming more tech-intensive as emerging tools create a seamless and effortless CX while significantly reducing costs across front- and back-end operations. Implementing artificial intelligence (AI), machine learning (ML), and natural language processing (NLP), omnichannel capabilities, and streamlined security tools is essential in this competitive and dynamic market. However, organizations are facing challenges around securing budgets, growing costs, legacy systems’ inflexibility/technology complexities, and skill shortages. Capable outsourcing partners offer much respite to organizations in their pursuit to transform their CX strategies.

By partnering with leading outsourcing partners, organizations not only overcome internal challenges but also gain access to best-in-class technology, global best practices, process excellence, and industry expertise at scale, offering a blend of locations and delivery models that help them achieve the business outcome that matters most. In recent years, CX outsourcers’ priority has shifted from a task-based focus to achieving top-line outcomes. The right mix of people, processes, and technology is the key to success and will help providers bring reliable and agile transformation capabilities to their clients.

In 2022, the Asia-Pacific CX outsourcing services market grew by 6.6% and is projected to grow at a compound annual growth rate (CAGR) of 5.6% from $37.63 billion in 2022 to $55.01 billion in 2029. The market is experiencing remarkable growth and will continue to expand. Over the next few years, it will continue to grow, fueled by the growing recognition of CX as a compelling strategy for competitive differentiation and the incentives gained by organizations outsourcing their CX operations.

The significant growth opportunities for the CX outsourcing market include the following: 1) holistic CX/digital value proposition, 2) intelligent CX, 3) generative AI, 4) hyperautomation, 5) content moderation, 6) CX agent engagement, and 7) verticalization of offerings.

This study also highlights market revenue based on domestic and offshore outsourcing forecasts. In addition, it covers market sizing based on seat forecast. Various growth drivers/restraints and their impact on short- and long-term growth are also discussed.

In preparing this study, Frost & Sullivan conducted interviews with executives from the leading CX outsourcing service providers in the region. Unless otherwise noted, the opinions expressed in this assessment are those of Frost & Sullivan and have been developed through its research, interviews, and analysis.

Asia-Pacific Customer Experience Outsourcing Services Market,  Growth Forecast to 2029

  • Asia-Pacific Customer Experience Outsourcing Services Market,  Growth Forecast to 2029

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This study provides forecasts for the Asia-Pacific (APAC) customer experience (CX) outsourcing services market from 2021 to 2029. Organizations across the board realize the significance of delivering excellent customer service as a competitive differentiator. CX outsourcing services play an increasingly vital role in building a strong end-to-end customer journey as customer centricity takes center stage. This is bringing greater attention to and investment opportunities into the market. The APAC CX outsourcing services market is becoming more tech-intensive as emerging tools create a seamless and effortless CX while significantly reducing costs across front- and back-end operations. Implementing artificial intelligence (AI), machine learning (ML), and natural language processing (NLP), omnichannel capabilities, and streamlined security tools is essential in this competitive and dynamic market. However, organizations are facing challenges around securing budgets, growing costs, legacy systems inflexibility/technology complexities, and skill shortages. Capable outsourcing partners offer much respite to organizations in their pursuit to transform their CX strategies. By partnering with leading outsourcing partners, organizations not only overcome internal challenges but also gain access to best-in-class technology, global best practices, process excellence, and industry expertise at scale, offering a blend of locations and delivery models that help them achieve the business outcome that matters most. In recent years, CX outsourcers priority has shifted from a task-based focus to achieving top-line outcomes. The right mix of people, processes, and technology is the key to success and will help providers bring reliable and agile transformation capabilities to their clients. In 2022, the Asia-Pacific CX outsourcing services market grew by 6.6% and is projected to grow at a compound annual growth rate (CAGR) of 5.6% from $37.63 billion in 2022 to $55.01 billion in 2029. The market is experiencing remarkable growth and will continue to expand. Over the next few years, it will continue to grow, fueled by the growing recognition of CX as a compelling strategy for competitive differentiation and the incentives gained by organizations outsourcing their CX operations. The significant growth opportunities for the CX outsourcing market include the following: 1) holistic CX/digital value proposition, 2) intelligent CX, 3) generative AI, 4) hyperautomation, 5) content moderation, 6) CX agent engagement, and 7) verticalization of offerings. This study also highlights market revenue based on domestic and offshore outsourcing forecasts. In addition, it covers market sizing based on seat forecast. Various growth drivers/restraints and their impact on short- and long-term growth are also discussed. In preparing this study, Frost & Sullivan conducted interviews with executives from the leading CX outsourcing service providers in the region. Unless otherwise noted, the opinions expressed in this assessment are those of Frost & Sullivan and have been developed through its research, interviews, and analysis.
More Information
Deliverable Type Tracker
Author Sherrel Roche
Industries Information Technology
No Index No
Is Prebook No
Keyword 1 Customer Experience Outsourcing Analysis
Keyword 2 Apac Outsourcing Services Trends
Keyword 3 Asia Pacific Cx Outsourcing Reports
Podcast No
WIP Number PF5C-01-00-00-00

Asia-Pacific Customer Experience Outsourcing Services Market, Growth Forecast to 2029

Information TechnologyAsia-Pacific Customer Experience Outsourcing Services Market, Growth Forecast to 2029

The Need for Digital Competency and Rightshoring Capabilities Drives Market Growth

RELEASE DATE
02-Nov-2023
REGION
Asia Pacific
Deliverable Type
Tracker
Research Code: PF5C-01-00-00-00
SKU: IT_2023_278
AvailableYesPDF Download
$15,000.00
In stock
SKU
IT_2023_278