Westford, USA, Nov. 04, 2022 (GLOBE NEWSWIRE) -- Today, organizations are rapidly adopting customer communication management solutions and services to keep pace with the ever-changing customer expectation and behavior. The trend of BYOD and mobile commerce is gaining momentum in the global customer communication management market, which has resulted in an increase in the use of smartphones and tablets for contacting businesses or making purchases. This has created a need for organizations to manage their customer interactions across multiple channels such as email, chat, social media, and SMS. Moreover, with the increasing adoption of Internet of Things (IoT), there is a growing need for managing interactions with connected devices such as thermostats, parking meters, and wearable devices.
Growing demand for customer communication management market can help businesses to improve their efficiency and effectiveness in managing customer communications, as well as providing them with valuable insights into customer behavior. In particular, CCM platforms can help businesses to better understand how customers prefer to communicate, what channels they are using, and what kind of information they are looking for. This allows businesses to tailor their communications accordingly, ensuring that they are providing customers with the best possible experience.
The report on global customer communication management market provides granular insights into the key trends, drivers, and challenges impacting the growth of the global CCM market. It also includes a detailed competitive landscape that covers the major players in the market.
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Key Findings: Cloud Deployment to Lead, Retail Industry to Dominate and North America to Hold Lions Share in Global Customer Communication Management Market
The study found that the retail industry is currently the largest user of CCM solutions, accounting for 37% of the market share. However, other industries such as healthcare, banking, and insurance are also beginning to adopt CCM solutions at a rapid pace. The healthcare industry is expected to be the fastest-growing adopter of CCM solutions over the forecast period, with a CAGR of 18%.
According to the study, cloud deployment models continue to dominate the customer communication management market, accounting for 62% of the total market share in 2021 as it offers several benefits such as reduced costs, scalability, faster deployment, and enhanced security and disaster recovery over on-premises solutions. Cloud-based solutions also offer pay-as-you-go models that are beneficial for small and medium-sized enterprises (SMEs). SkyQuest attributes this strong growth to a number of factors, including the continued shift from traditional forms of communication (such as print and post) to digital channels (such as email and SMS); the growing importance of customer experience in driving business success; and the increasing availability of CCM solutions that are designed for specific industry verticals.
While the overall global customer communication management market is growing rapidly, there are some important regional variations to take note of. For example, North America and Europe are both experiencing stable growth (with CAGRs of 10.2% and 9.0%, respectively), while Asia-Pacific is staying somewhat ahead (with a CAGR of just 15.7%). This difference is likely due to the fact that North America and Europe have been early adopters of CCM solutions, while Asia-Pacific is still in the early stages of adoption.
Despite this regional variation, we believe that there are significant opportunities for growth in Asia-Pacific over the next few years, as more organizations in the region wake up to the importance of customer experience and start investing in the region.
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Top 3 Players Holds More Than 30% Customer Communication Management Market
As per SkyQuest analysis, Adobe, IBM, and EC Corporations are top 3 player in the market and they are holding more than 10% of share of the market.
Adobe: Adobe is a well-known name in the CCM industry. They offer a variety of solutions for businesses, including document services, customer communications, and digital experience management. Their document services help businesses create, manage, and deliver documents across channels. Their customer communications solutions help businesses manage customer interactions and journeys. Their digital experience management solutions help businesses deliver engaging experiences to customers across digital channels.
Adobe is constantly innovating to stay ahead of the curve in customer communication management market. The company recently announced new features for its Experience Manager Forms and Campaign products, including enhanced data management and new capabilities for journey orchestration. With these innovations, Adobe is helping businesses take their customer communication strategies to the next level.
EMC Corporation: EMC Corporation is another key player in the customer communication management market. They offer a variety of solutions for business, including information management, big data, cloud storage, and content management. Their information management solutions help businesses govern and secure their information. Their big data solutions help businesses collect, store, and analyze big data. Their cloud storage solutions help businesses store and protect their data in the cloud. And their content management solutions help businesses create, manage, publish, and distribute content across channels.
Adobe offers a complete set of tools for managing customer communications, from creating and sending documents to tracking and measuring engagement. Its products are used by some of the largest companies in the world, including banks, insurance companies, and retailers. Adobe's customer communication management solutions are helping these organizations to drive down costs, improve efficiency, and better serve their customers.
IBM: IBM is another key player in the global customer communication management market. They offer a variety of solutions for business, including marketing automation, eCommerce, customer service management, and analytics. Their marketing automation solutions help businesses automate their marketing processes. Their eCommerce solutions help businesses Sell more online and drive more conversions. Their customer service management solutions help businesses provide excellent customer service while reducing costs. And their analytics solutions help businesses make better decisions with data-driven insights.
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Key Players in Global Customer Communication Management Market
- Adobe Systems, Inc. (US)
- Cincom Systems, Inc. (US)
- Dell EMC (US)
- Doxee S.p.A. (Italy)
- Ecrion Software, Inc. (Sweden)
- Hewlett Packard Enterprise (US)
- Kofax, Inc. (US)
- Newgen Software Technologies Limited (India)
- OpenText Corporation (US)
- Oracle Corporation (US)
- GMC Software (US)
- Pitney Bowes Inc. (US)
- Xerox Corporation (US)
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