Press release
Customer Communications Management Market Size, Share, Global Industry Analysis And Forecast 2024-2033
Customer Communications Management Market
The customer communications management market size is expected to see rapid growth in the next few years. It will grow to $2.52 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to expansion of omnichannel customer engagement, increased demand for interactive and dynamic content, emphasis on privacy and data security in customer communications, growth in cloud-based customer communications management solutions. Major trends in the forecast period include personalization and hyperpersonalization in customer communications, integration with customer relationship management (crm) systems, rise of conversational and chatbot-based communications, adoption of rich media and interactive documents, shift towards automated and self-service customer communications.
Market Overview -
Customer communication management refers to software for improving production, delivery, storage, and outbound communications retrieval to customers. A centralized CCM platform that enables real-time, cross-channel, interactive conversations improve customer experience substantially. The customer communication management is used to facilitate customer interactions and improve sharing, storage, and retrieval of customer communications using various tools and processes.
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Smartphone Penetration Fuels Growth In The Customer Communication Management Market
An increase in smartphone penetration across the globe is driving the growth of the customer communication management market. Smartphone penetration refers to the quantity of active mobile phone subscriptions compared to the overall market for mobile phones. Smartphones are used to manage customer communications across a wide range of media, such as queries via live chat, dropping a feature request via email, SMS/MMS, responsive design mobile experiences, and in-app notifications. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, mobile connections in the UK reached 71.8 million, showing a 3.8% increase from the previous year, totaling approximately 2.6 million additional connections. Furthermore, it is projected that the UK's population will expand to 68.3 million by 2025, with an estimated 95% of the population, or around 65 million individuals, owning a smartphone . Therefore, an increase in smartphone penetration is expected to propel market growth over the coming years.
Competitive Landscape -
Major companies operating in the customer communications management market report are Adobe Inc., Capgemini SE, CEDAR CX Technologies, Open Text Corporation, Sefas Innovation Inc., ABBYY Solutions Ltd., Avaya LLC., BCC Software LLC., Broadridge Financial Solutions Inc., Cincom Systems, Cognizant Technology Solutions Pvt Ltd., Crawford Technologies Inc., Dell Technologies Inc., Doxee S. p. A., Exela Technologies Inc., GMC Software AG, Hewlett Packard Enterprise Development LP, Kofax Inc., Messagepoint Inc., Newgen Software Technologies Limited, Hyland Software Inc., Objectif Lune Inc., OneSpan Inc., Oracle Corporation, Pitney Bowes Inc., The Ricoh Company Ltd., Xerox Corporation., Zoho Corporation.
Technological Advancements Transforming The Landscape Of Customer Communication Management
Technological advancements are gaining significant popularity in the customer communication management market. Major market players are focusing on implementing technological advancements such as artificial intelligence, augmented reality, and machine learning in customer communication management that work on cloud-based customer communications management technology and advanced natural language processing that offer advantages in cross-departmental cooperation, allowing for coordinated and consistent communication across the customer experience. For instance, in May 2021, Quadient, a France-based company specializing in mailing equipment, business process automation, and customer experience management, introduced Inspire Evolve, a software-as-a-service (SaaS) customer communications management (CCM) solution that is integrated with a cloud-based customer communications solution and streamlines existing technology. It includes on-premises and hybrid cloud CCM solutions, SaaS customer journey mapping and orchestration solutions. This launch represents another step forward for the Quadient product portfolio.
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Key Segments -
The customer communications management market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Organization Size: Large Enterprises, Small And Medium Enterprises
4) By Vertical: IT And Telecom, Retail And eCommerce, BFSI, Healthcare, Travel And Hospitality, Government, Utilities, Other Verticals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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