According to a new market report published by Transparency Market Research , the global customer communication management (CCM) market was valued at US$ 1,247.4 Mn in 2017 and is expected to expand at a CAGR of 12.1% from 2018 to 2026, reaching US$ 3,474.6 Mn by the end of the forecast period. According to the report, the Americas was a significant contributor in terms of revenue, to the customer communication management market in 2017. Considering the adoption of cloud technology and presence of prominent CCM software vendors across the region, especially in the U.S., Canada, and Mexico, the Americas constitutes a leading share of the global CCM software market.
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Integration of CCM with social and mobile marketing and increasing emphasis on multifarious and divergent communication channels are driving the global customer communication management market
Integration of CCM with social and mobile marketing and increasing emphasis on multifarious and divergent communication channels are major factors that are expected to fuel the customer communication management market across the globe. Significant penetration of mobile phones in the market and rapidly developing mobile platform applications for integration with day-to-day functions has propelled the customer communication management software market. This is also supported by declining cost of mobile broadband communications, low power internet protocols, and developing cloud infrastructure. Furthermore, customer communication solutions are becoming more and more dynamic with the arrival of novel and ground-breaking communication channels. Presently, organizations are focusing more on multifarious and divergent communication channels in order to reinforce their presence across numerous platforms, as customers are likely to be anywhere within the connected world.
Customer Communication Management Market: Scope of the Report
The global customer communication management market has been segmented based on solutions, enterprise size, deployment, end-use industry, and geography. In terms of solutions, the market has been categorized into software suite, managed CCM services, and other services (consulting, integration, and maintenance). Software suite sub-segment is estimated to contribute major share of the total market share. However managed services market is estimated to grow at a higher pace as companies are focusing on outsourcing their communication operations so as to improve the quality of the customer experience. Based on enterprise size, the market can be segmented into large enterprises, and small and medium enterprises (SMEs). The global CCM software market is majorly supported by the increasing number of businesses across theworld. Small and medium enterprises are a more attractive market for CCM software vendors. This is due to the fact that the enterprises are increasing their IT spending and are focusing on adopting advanced technology solutions for better customer experience. In terms of deployment, the market has been segmented into cloud-based and on-premise. Due to growing demand for cloud-based software deployment, cloud segment is expected to expand at a substantial growth rate during the forecast period. However, the market for on-premise CCM software deployment is estimated to see steady growth as some of the large enterprises still prefer an on-premise deployment model due to security concerns. Based on end-use industry, the market has been divided into healthcare, banking, financial services and insurance (BFSI), IT & telecom, e-commerce and retail, hospitality and travel, government & utilities, and others (education, entertainment, and media).
Based on geography, the global customer communication management market has been categorized into North America, Asia Pacific, Europe, South America, and Middle East & Africa. The Americas market is expected to maintain its dominant position throughout the forecast period. However, Asia Pacific and Europe are also expected to constitute significant market share in the coming years.
Global Customer Communication Management Market: Competitive Dynamics
Key players operating in the global customer communication management market include Adobe systems, Inc., Cincom Systems, Inc., Doxee S.p.A., EMC Corporation (Dell), GMC Software Technology, Hewlett Packard Enterprise Development LP,ISIS Papyrus Europe AG, Kofax Inc. Newgen Software, OpenText Corp., Oracle Corporation, Pitney Bowes, Inc., Xerox Corporation, Ricoh Company, Ltd. and Sefas Innovation, Inc.
The customer communication management market has been segmented as below:
Market Segmentation:Global Customer Communication Management Market
By Solutions
- Software Suite
- Managed CCM Services
- Other Services (Consulting, Integration, and Maintenance)
By Deployment
- On-premise
- Cloud-based
By EnterpriseSize
- Small and Medium Enterprises
- Large Enterprises
By End-use Industry
- Healthcare
- BFSI
- Banks and NBFCs
- Insurance
- IT and Telecom
- E-commerce and Retail
- Hospitality and Travel
- Government and Utilities
- Others (Education, Entertainment and Media)
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