Customer Communications Management Market Size & Report Forecast-2028

report image

Customer Communications Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Service), Deployment (Cloud-Based and On Premise), Enterprise Size (Small & Medium-Size Enterprises and Large Enterprises), and Industry (BFSI, IT and Telecom, Manufacturing, Retail, Energy & Utilities, Government, and Others)

Publication Month: May 2022 | Report Code: TIPRE00007182 | No. of Pages: 191 | Category: Technology, Media and Telecommunications | Status: Published

The customer communications management market size is expected to grow from US$ 1,325.6 million in 2021 to US$ 2,752.4 million by 2028; it is estimated to grow at a CAGR of 11.4% from 2022 to 2028.

Customer communications management enables organizations to improve customer communications across various channels. It increases communication efficiency and helps find better ways to engage customers, improve their communication strategy, and strengthen customer relationships. The growing adoption of CCM solutions and services in various verticals such as IT & telecom, retail & e-commerce, healthcare, BFSI, travel & hospitality, government, and utilities, is driving the CCM market growth.

The growing demand for enhanced functionalities of multi-channel-based marketing and customer experience management and the increasing usage of analytics and mobility for customer communications management are among the key factors driving the growth of the customer communications management market. The integration of cloud-based Customer Communications Management technology is emerging as a potential opportunity for the customer communications management market. Further, the growing adoption of advanced technologies such as natural language processing for better consumer experience offers lucrative growth prospects for the market. However, the data synchronizations and complexities in Customer Communications Management software and security issues of such integrated platforms are hampering the customer communications management market growth.

Strategic Insights

Report Coverage - Customer Communications Management Market
Report CoverageDetails
Market Size Value inUS$ 1,325.6 Million in 2021
Market Size Value byUS$ 2,752.4 Million by 2028
Growth rateCAGR of 11.4% from 2022 to 2028
Forecast Period2022-2028
Base Year2021
No. of Pages191
No. of Tables115
No. of Charts & Figures94
Historical data availableYes
Segments coveredComponent, Deployment, Enterprise Size, and Industry
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Impact of COVID-19 Pandemic on Customer Communications Management Market

 

The COVID-19 pandemic has benefited the industry for customer communications management (CCM) solutions. Businesses are facing new challenges due to the pandemic, and the development of remote work environments has positively influenced the global market dynamics. The COVID-19 outbreak has highlighted the necessity for businesses in various industries to adopt digital technologies and leverage the potential of CCM by helping companies to structure documents and manage other tasks such as sending offers, bills, and account statements without the need for a workforce. Thus, the COVID-19 pandemic positively impacted the customer communications management market size.

Lucrative Regions for Customer Communications Management Market

Lucrative Regions for Customer Communications Management Market

Get more information on this report :

Market Insights – Customer Communications Management Market
Increasing Usage of Analytics and Mobility for Customer Communications Management

Customer analytics includes the information and behavior of the customer to identify, attract and retain profitable customers. Customers in the digital era find products fulfilling their needs; therefore, the paying mode, purchasing trend, lifestyle preferences, and desired brand are the major factors catered by the customer analytics tools to understand customers. The customer analytics data tools help acquire and retain future customers. It also identifies high-value customers and suggests proactive ways to interact with them. Thus, increasing usage of analytics for CCM enables improved customer communication, which is driving the customer communications management market dynamics. As per the ACM Digital Library, 75% of Netflix viewer activity is driven by recommendations, which saves the company an estimated ~US$ 1 billion per year through focusing on most valuable customers. Further, growing interest in digital channels has increased due to changing consumer preferences caused by the COVID-19 pandemic. As a result, various organizations have switched their focus to digital customer experiences. Hence, to augment the business growth, several companies are adopting customer analytics tools, increasing the demand for Customer Communications Management software. Thus, this is supporting the customer communications management market growth.

Component-Based Customer Communications Management Market Insights

The customer communications management market analysis by component, the market is segmented into solution and service. The solution segment accounted for a larger customer communications management market share in 2021. The growing adoption of CCM solutions by various industries, such as manufacturing, IT & telecom, and retail, to improve the customer experience and retain the customer is driving the market growth for the solution segment.

Deployment-Based CCM Market Insights

The customer communications management market analysis by deployment, the market is segmented into cloud-based and on premise. The cloud-based segment accounted for a larger market share in 2021. Ongoing initiatives for integrating the cloud-based platform with the CCM solutions fuel the market growth for the cloud-based segment.

Enterprise Size-Based CCM Market Insights

By enterprise size, the market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment accounted for a larger market share in 2021. The market growth for the small & medium enterprises segment is primarily attributed to the growing adoption of CCM solution by various industries to keep customer engagement through multiple channels. It also helps in reducing customer churn rates, which is driving the CCM market growth.

Industry-Based CCM Market Insights

Based on industry, the customer communications management market is segmented into BFSI, IT and telecom, manufacturing, retail, energy & utilities, government, and others. The IT & Telecom segment accounted for the largest share of the market in 2021. The market growth for the segment is primarily attributed to the growing adoption of CCM solution in banking and insurance sector to enhance the customer communication. Moreover, the market for the retail segment is projected to grow at a faster pace during the forecast period.

Players operating in the customer communications management  market are mainly focused on the development of advanced and efficient products.

  • In January 2022, Quadrant Knowledge Solutions, a worldwide research and consulting business, recognized Messagepoint as a SPARK Matrix Customer Communications Management (CCM) Technology Leader for 2022.
  • In April 2021, Doxim, a leading customer communications management (CCM) and engagement technology supplier for financial and regulated markets, announced the addition of Doxim CCM Interactive Video to its enterprise-grade CCM platform.

Company Profiled

  • Adobe Systems Inc.
  • Canon Cyprus
  • Dell Technologies
  • DocCentrics
  • Hewlett Packard Enterprise Development LLC
  • Newgen Software Technologies Limited
  • Open Text Corporation
  • Oracle Corporation
  • Pitney Bowes Inc.
  • Xerox Corporation

Frequently Asked Questions

The growing demand for enhanced functionalities of multi-channel-based marketing and customer experience management and the increasing usage of analytics and mobility for Customer Communications Management are the key factors attributable to the growth of the CCM market over the forecast period. The integration of cloud-based Customer Communications Management technology is emerging as a potential opportunity for the customer communications management market. Further, the growing adoption of advanced technologies such as natural language processing for better consumer experience offers lucrative growth prospects for the market. However, the data synchronizations and complexities in Customer.
The integration of cloud-based Customer Communications Management technology is emerging as a potential opportunity for the customer communications management market. Further, the growing adoption of advanced technologies such as natural language processing for better consumer experience offers lucrative growth prospects for the market.
North America dominated the Customer communications management Market in 2021. It is due to the increasing rate of adoption of numerous advanced technologies. The increasing use of cutting-edge technologies such as machine learning and industrial automation and growing digitalization across organizations are expected to boost the market growth in the region. Moreover, North America is becoming a hub for various industrial verticals, including IT & Telecom, healthcare, and energy & utilities. These industrial sectors have a large client base, which is expected to provide CCM providers with new lucrative opportunities.
The APAC area, on the other hand, is expected to develop at the quickest rate throughout the projection period. The growing economies such as India and China are encouraging several major players to enter the market and expand their global footprints, boosting the customer communication management market growth. Companies in this region are primarily deploying CCM solutions in their facilities to boost their client reach and retention. These factors are expected to support the regional market expansion during the forecast period.
Natural Language Processing (NLP) is a type of machine learning. It understands the words, sentences, and context of customer support queries. As a subset of artificial intelligence (AI), NLP interprets and analyzes customer’s verbal statements. AI-powered customer communications management platform can intelligently handle the complexity of structured, personalized, compliant omnichannel customer communications more effectively and efficiently. Further, machine learning is an effective way to achieve AI. ML-based tools help enterprises process customer data efficiently and generate highly personalized offers to fulfill customers' demands. A tool that integrates NLP into a CCM solution provides a remarkable customer experience.
Adobe, Capgemini, Crawford Technologies, Smart Communications, Cedar CX Technologies, Newgen Software Technologies Limited, Open Text Corporation, Oracle, Messagepoint, and Doxim Inc are the leading companies in the customer communications management market.

The List of Companies - Customer Communications Management Market

  1. Adobe
  2. Capgemini
  3. Crawford Technologies
  4. Smart Communications
  5. Cedar CX Technologies
  6. Newgen Software Technologies Limited
  7. Open Text Corporation
  8. Oracle
  9. Messagepoint
  10. Doxim Inc.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global customer communications management market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global customer communications management market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TIPRE00007182
Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Get the Latest COVID-19 Analysis on this market




christmas_festive_offer

Have a Question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Speak to Analyst
Pricing
  • $3000 $2700
  • $4550 $4095
  • $6550 $5568
  • $8550 $6840

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.

    Inquire for Discount