Customer Communication Management (CCM) Market: Snapshot
Customer communications management (CCM) is described as an advanced derivative of enterprise content management (ECM) technology. The customer communication management software is developed from the convergence of output management technologies and document composition & generation. A CCM software allows customer interactions through a wide range of communication channels such as email, mobile, web-pages, SMS, print and customer self-services. Customer communications management system automates and simplifies document-related business procedures in order to increase the business performance and efficiency.
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The rising adoption of CCM solutions by enterprises in the U.S. is a chief driver of the CCM market. As the CCM software enables organizations to manage communications across all distribution channels more efficiently, they are able to connect with their clients easily and forge more profitable relationships with customers. At present, the CCM market is expanding at a high rate due to new technological developments in the field of customer relationship management across the industries. In addition, the market is gaining from the increasing emphasis on context-rich information, multifarious communication channels, and multi-channel output.
By the end of 2016, the U.S. customer communication management market was worth an estimated US$423.1 mn. Exhibiting a CAGR of 11% between 2017 and 2025, the market is forecast to reach US$1.06 bn by the end of 2025.
Demand for Software Suite to Remain High Through Forecast Period
Considering the various kinds of solution currently available, the U.S. CCM market can be segmented into managed CCM services, software suite, and others constituting integration & maintenance and consulting. Of these, the dominant share of 46.9% of the market was held by software suite. In the coming years, the segment is likely to show moderate growth but losing some market share. Nevertheless, the software suite segment will continue leading the market through the course of the forecast period. The growing number of enterprises across the country and rising demand for cloud-based technologies are the key drivers for the segment.
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Based on the enterprise size, the U.S. customer communication management market is bifurcated into into large enterprises and small & medium enterprise (SMEs). Of these, large enterprises emerged dominant in 2016. On the basis of deployment model, the U.S. CCM market is segmented into cloud and on-premise. Of these, the cloud-based segment led the market in 2016 and is expected to continue as the dominant segment through the forecast period. Proliferation of cloud-based technologies across the U.S. will support this segment’s expansion.
IT &Telecom to Continue Dominating Market as Leading End-use Industry
Furthermore, in terms of end-use industry, the market is classified into healthcare, BFSI, IT & telecom, e-commerce & retail, hospitality & travel, government & utilities and others such as education, entertainment and media. Among these industries, BFSI and healthcare segments are estimated to showcase increasing demand for customer communication management in the forecast period. However, over the course of the forecast period, the IT & Telecom segment is forecast to remain dominant. The rising proliferation of IT solutions across enterprises in the U.S., and the increasing demand for innovative communication technologies will fuel the uptake of customer communication management solutions across the U.S. IT sector. This will in turn give impetus to the customer communication management market in the U.S.
Some of the major players in U.S. CCM market are Adobe systems, Inc., Cincom Systems, Inc., Doxee S.p.A., Emc Corporation (Dell), HP enterprise, Newgen Software, OpenText Corp., Oracle Corporation, Pitney Bowes, Inc., and Xerox Corporation
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Customer Communication Management Market: Snapshot
Customer communications management (CCM) refers to a software that helps organizations from various industries in managing all their communications with customer from all across the globe. Earlier, the idea of customer communication was limited to only few options such as emails, archived digital documents, printed documents, and web pages. With the evolution of communication techniques, there is extensive advancement in customer communication techniques. In addition to conventional communication techniques, the customer communication management systems utilizes advanced tools such as in-app notifications, SMS/MMS, messages over common social media platforms, and responsive design mobile experiences.
With technological advancement in almost every industrial sector, the enterprises from across all sectors are growing focus toward achieving customer satisfaction. As a result, there is remarkable growth in need for automation of diverse customer engagement activities. This scenario has created promising sales opportunities for enterprises operating in the global customer communication management market.
Customer communications management system is gaining popularity across various companies as it helps in automating and thereby simplifying document-related business processes. As a result, this system is considered helpful in boosting the efficiency and performance of businesses. Owing to this factor, there is remarkable growth in adoption of customer communication management systems in all worldwide locations. This factor is fueling the demand opportunities in the global customer communication management market.
Customer communication management systems are increasingly used for various purposes including structured communications. Thus, growing utilization of these systems for sending bills, offers, and account statements to the customers is generating prominent expansion avenues for vendors working in the global customer communication management market.
Vendors in the customer communication management market are strategizing business moves to recuperate from the adverse impact of the recent COVID-19 pandemic on their businesses. Several players are seen taking initiatives to regain their regular activities while following all safety guidelines compelled by the regional government bodies.
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