Customer Experience Management Services in Asia-Pacific, Forecast to 2029 Updated Research Available

This study provides forecasts for the Asia-Pacific (APAC) customer experience management (CXM) services market from 2022 to 2029. Organizations must prioritize delivering excellent CX as a strategic component for sustained business growth. It is crucial to recognize the significance of superior CX as a competitive differentiator. According to Frost & Sullivan’s 2024 Contact Center IT Decision Maker (ITDM) survey, published in March 2024, 65% of respondents have made improving CX their top business objective for the upcoming year. This is bringing greater attention and investment opportunities into the CXM services market.

In 2023, the APAC CXM services market generated a revenue of $39.80 billion, recording a 5.8% increase from 2022. Revenue is forecast to grow close to 4.8% in 2024 as companies increasingly outsource CX services. Growth rates are expected to slow down over time as pent-up demand settles. The compound annual growth rate (CAGR) is forecast to be 3.2% from 2024 to 2029. Over the next few years, the market 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. However, the market is likely to face cost pressure as automation becomes the central theme in the short term.

The CXM services market is undergoing a tech-driven transformation, with AI, automation, and analytics offering opportunities for greater efficiency and better CX. However, varying client digital maturity levels challenge even leading service providers in implementing large-scale transformations. Providers must balance cutting-edge technologies with maintaining the human touch customers expect. In addition, the fast pace of technological change demands constant innovation and upskilling. Striking this balance between technology and human interaction is crucial for future-proofing services.

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.

Author: Sherrel Roche