Customer Communications Management Market: Share and Expected at a CAGR of of 11.5% by 2028

As per the report published by Fior Markets, the global Customer Communications Management market is expected to grow from USD 1.2 billion in 2020 and to reach USD 2.86 billion by 2028, growing at a CAGR of 11.5% during the forecast period 2021-2028.

The Customer Communications Management market is witnessing significant growth in the past years. This growth is attributed to the increasing usage of CCM solutions and services in several industries such as information technology and telecommunications, retail and eCommerce, healthcare, banking and finance, travel and hospitality, government, utilities, and others. Also, the introduction of cloud CCM solutions and various technological growth is boosting the market growth.

Customer communications management (CCM) is an approach for enhancing outgoing and interactive contacts. CCM software improves the production, delivery, storage, and retrieval of incoming and interactive communications. CCM software helps organizations generate, customize, structure, and distribute content from many sources like websites into electronic and physical interactions with their customers. The technology also allows for the distribution of tailored messaging via email, mobile, SMS, social media sites, and print media. CCM solutions incorporate data extraction, document generation, printer management, email marketing, SMS communication, data analysis, and portal technology. Organizations may use data extraction software to combine and analyze data from many sources in order to gain insights about individual customers. The data will help the firm evaluate its marketing mix and create personalized promotional programs for customers. The document composition engine creates a print stream or XML data to facilitate the creation of documents that may be printed or transferred electronically. By automating the content production and delivery processes, CCM systems help to build personalized and engaging connections with customers. CCM systems also reduce the total costs of producing documents and correspondence. As a result, CCM software is gaining traction among small and medium-sized enterprises (SMEs). It also aids the firm in conforming to customer privacy regulations.

The global Customer Communications Management market is expected to witness significant growth, owing to the accelerated CCM solution enhancement in sustaining customer engagement throughout omnichannel, advancement in the technology, increasing demand for effective customer communications systems, and high acceptance level of CCM solutions in numerous industries. The factors restraining the market growth are the complexities of customer feedback touchpoints and data synchronization. Leveraging CCM technology with the cloud to provide new business opportunities will provide market growth opportunities.

Key players operating in the global customer communications management market include Adobe, Papyrus Software, Oracle, AdventSys, Hyland, OpenText, Zendesk, Smart Communications, Newgen Software, Capgemini, Quadient, Topdown, Sefas, CEDAR CX Technologies, Messagepoint, Doxim, Napersoft, Ecrion, Doxee, Front, Bitrix24, Braze, HelpCrunch, Trengo, Podium and Pitney Bowes. To gain a significant market share in the global customer communications management market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Adobe and Smart Communications are some of the key manufacturers operating in the customer communications management market.

• In February 2021, Capgemini and OVHCloud have entered into a global alliance collaboration agreement to fulfill the cloud transformation needs of public and private organizations.
• OmniOMS 9.0, an updated version of Newgen Software’s customer communication management system, was released in December 2020. The most recent version of the software provides a strong and unified communications platform that connects various types of information, information sources, and distribution methods. The integrated functions would allow users to create customer communications easily, manage design composition changes, distribute, and control.
• In 2020 October, Adobe has released new capabilities for its Advertising Cloud DSP. The legacy help has been replaced with new pages, which may be accessed via the Help option in the DSP main menu. For faster insights, easier workflows, and customizable views, the previous Campaigns Beta views are now the default Campaigns views.

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Solution segment dominated the market and held the largest market share of 63.4% in the year 2020

On the basis of components, the global customer communications management market is segmented into services and solutions. The solutions segment dominated the market and held the largest market share of 63.4% in the year 2020. This growth is attributed to the numerous organizations utilizing CCM solutions to provide highly personalized experiences to consumers across a range of websites, stores, contact centers, mobile applications, social media, emails, virtual assistants, and several other touchpoints.

IT and Telecom segment dominated the market and held the largest market share of 25.17% in the year 2020

On the basis of verticals, the global customer communications management market is segmented into Healthcare, IT and Telecom, Retail & eCommerce, BFSI, Travel & Hospitality. IT and Telecom segments dominated the market and held the largest market share of 25.17% in the year 2020. This growth is attributed to the rising level of investment in CCM solutions by several IT companies, a wide range of applicability in various domains, and the contribution of CCM solutions to IT infrastructure simplification by adopting an efficient, comprehensive approach for batch automation and interactive communications generation.

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