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Overview and Scope
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.
Sizing and Forecast
The customer communications management market size has grown rapidly in recent years. It will grow from $1.47 billion in 2023 to $1.63 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to adoption of multichannel communication strategies, growth in customer-centric business models, emphasis on regulatory compliance in communications, advances in digital and personalized marketing, increase in customer experience optimization.
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.
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Segmentation & Regional Insights
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
North America was the largest region in the customer communications management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the customer communications management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The customer communications management market report table of contents includes:
1. Executive Summary
2. Customer Communications Management Market Characteristics
3. Customer Communications Management Market Trends And Strategies
4. Customer Communications Management Market – Macro Economic Scenario
5. Global Customer Communications Management Market Size and Growth
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26. South America Customer Communications Management Market
27. Brazil Customer Communications Management Market
28. Middle East Customer Communications Management Market
29. Africa Customer Communications Management Market
30. Customer Communications Management Market Competitive Landscape And Company Profiles
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