Chicago, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The global Customer Communications Management Market size is projected to grow from USD 1.3 billion in 2021 to USD 2.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.2% during the forecast period, according to a new report by MarketsandMarkets™. The major growth drivers for the market include increasing adoption of CCM solutions and services in various verticals such as IT and telecom, retail and eCommerce, healthcare, BFSI, travel and hospitality, government, utilities, and other verticals.
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231 - Tables
57 - Figures
266 - Pages
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Scope of the Report
| Report Metric | Details |
| Market value in 2026 | USD 2.2 Billion |
| Market value in 2022 | USD 1.3 Billion |
| Market Growth Rate | 11.2% CAGR |
| Largest Market | Asia Pacific |
| Market size available for years | 2016–2026 |
| Base year considered | 2021 |
| Forecast period | 2021–2026 |
| Segments covered | Component (Solutions and Services), Deployment Mode, Organization Size, Verticals and Region |
| Geographies covered | North America, Europe, APAC, MEA, and Latin America |
| Companies covered | Adobe(US), Oracle(US), OpenText(US), Zendesk(US), Newgen Software(India), Capgemini(France), Quadient(France), Smart Communications(England), Sefas(France), CEDAR CX Technologies(US), Messagepoint(Canada), Doxim(Canada) and many more. |
This report's scope covers the CCM market by component, deployment mode, organization size, vertical, and region. Moreover, this study analyzes the CCM market based on contemporary trends and developments, and its potential growth from 2021 to 2026. It provides detailed trends, vendors’ shares, size, forecast, and analysis of key players in the market.
Based on regions, the CCM market in Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period. APAC countries are increasingly investing in CCM projects. The CCM market in APAC has been sub-segmented into China, Japan, India, and the rest of APAC. These countries act as a major driver for the growth of the market in the region. The increasing internet penetration and per user online consumption have led organizations to enhance their offerings in the CCM market. This rapid growth is because of its growing technology adoption rate. The growth of SMEs in the region has increased their spending on advanced technologies, such as AI, ML, and data analytics, to compete in the market and capture more opportunities. The implementation of CCM solutions has become more plausible for these businesses. Cloud computing is adopted on a large scale by organizations in the region’s developed economies, such as Japan, ANZ, and Singapore. As the cloud technology is used as a repository of data for further analysis, its increased adoption is expected to drive the growth of the CCM market.
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Based on components, the CCM market is segmented into solutions and services. These solutions are applied for the discovery, collection, and analysis of customer data to make better decisions via actionable insights and benefit customers and businesses. The services segmentation included in this report comprises managed services and professional services. Solutions segment to hold a larger market size during the forecast period. Enterprises deploy CCM solutions to provide customers with highly connected personalized experiences across a wide range of websites, stores, call centers, mobile apps, social media, emails, virtual assistants, and other touchpoints.
Top Trends in Global Customer Communications Management Market
- The management of customer communications has gotten more and more personal. Businesses have been using data analytics and customer insights to customize their messaging to specific tastes, increasing customer engagement and happiness.
- Businesses have started using a multi-channel strategy to connect with customers through their preferred channels of communication. As part of this, traditional media channels like print and direct mail are integrated with digital platforms like email, SMS, social media, mobile apps, and other digital platforms.
- Organizations have made it a priority to comprehend and map the customer journey in order to pinpoint the critical touchpoints where good communication may improve the overall customer experience.
- The integration of automation and artificial intelligence (AI) into CCM solutions has grown. Automation improves communication procedures, lessens human error, and permits direct client contact. Virtual assistants and chatbots powered by AI are also more popular for offering immediate customer service.
- Cloud-based CCM solutions are becoming more popular because of their adaptability, scalability, and affordability. Businesses can now manage and access consumer messages from any location, increasing their responsiveness and agility.
Key Industry Development
- Customer experience has grown to be a key motivator for CCM solutions. To increase customer satisfaction and loyalty, businesses saw how crucial it was to send personalized, pertinent, and consistent messaging over a variety of platforms. The development of CCM platforms with enhanced personalization capabilities, path mapping, and analytics to better understand customer behavior was influenced by the change from a transactional strategy to a more customer-centric one.
- There has been significant increase and adoption of cloud-based CCM solutions. The adoption of the cloud came with several benefits, such as flexibility, scalability, and affordability. Businesses could access and control client interactions with cloud-based CCM from any location, doing away with the requirement for costly on-premises infrastructure. Smaller firms now get access to CCM features that were previously only available to larger corporations thanks to this development.
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