USD 1.63 billion
Customer Communication Management Market Size, Share, Growth Analysis, By Component(Services, Solutions), By Deployment(On-premises, Cloud), By Industry(Government, Banking, Financial Services, Retail), By Region - Industry Forecast 2024-2031
Report ID:
SQSG45E2011 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
93
|Figures:
76
Customer Communication Management Market Insights
Global Customer Communication Management Market size was valued at USD 1.63 billion in 2019 and is poised to grow from USD 1.83 billion in 2023 to USD 3.89 billion by 2031, growing at a CAGR of 9.9% in the forecast period (2024-2031).
Due to an increase in customer questions in several industrial verticals, Customer Communication Management market is expected to grow significantly over the next few years. This tool enables businesses to integrate simple and computerised client communication across multiple channels.
Customer Communication Management programming incorporates messages, printed records, connections to the PDF, intelligent archives, SMS instant messages, and so forth and some more. It also aids in the creation, transmission, storage, and recovery of several basic archives. The customer communication management programming aids an organisation in making customised and intelligent correspondences with clients by increasing the effectiveness of content planning and creation of material accessible from various sources, such as websites, into electronic and actual correspondences between the association and its clients. Natural Language Processing (NLP) and Artificial Intelligence (AI) at a high level have elevated Customer Communication Management programming to a new level, and it is now addressing business issues by providing better types of assistance and being available 24 hours a day, seven days a week, as well as providing quick responses to clients.
US Customer Communication Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Solutions
Fastest Growth
Services
Growth Rate
9.9% CAGR
Global Customer Communication Management Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Customer Communication Management Market Segmental Analysis
Global Customer Communication Management Market is segmented based on Component, Deployment, Industry and Region. Based on Component Customer Communication Management Market is categorized into: Services and Solutions. Based on Deployment Customer Communication Management Market is categorized into On-premises and Cloud. On the basis of Industry, Customer Communication Management Market is segmented into Government, Banking, Financial Services, Retail, Healthcare, Media & Entertainment, Energy & Utilities, IT & telecommunication. Based on region Customer Communication Management Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Customer Communication Management Market Analysis by Component
Component Segment is divided into two segments: Solutions and Services. In 2021, the Solutions sector dominated the market. Customers can get highly integrated custom-made abilities through a range of websites, stores, contact centres, mobile applications, social media, emails, virtual assistants, and other touchpoints when businesses use customer communication management solutions. Customers' questions will be answered using automated response methods and technology that deliver real-time feedback. Businesses recognise the importance of each interaction with customers that influences their opinions of products or brands.
Customer Communication Management Market Analysis by Industry
The industry type segment is sub-portioned into IT and Telecom, Retail and eCommerce, Travel and Hospitality, Government, Utilities, Banking, Financial, Healthcare, Media and Entertainment, and Other Verticals. The IT and Telecom segment held the largest share in 2021. Organizations can involve information in this manner while making archives. This empowers them to make important substance while likewise crediting to the objectives of their business offering. Accordingly, media communications and data innovation organizations have started to put resources into customer communication management answers for assist them with offering excellent types of assistance to their clients.
Global Customer Communication Management Market By Component , 2021(%)
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Customer Communication Management Market Regional Insights
North America is supposed to hold a highest share in the global customer communication management market because of numerous industry-driving organizations like Open Text Corporation, Adobe, and others. Moreover, the Customer Communication Management Market an open door in these districts is becoming because of the expanded utilization of advancements like virtual entertainment and portability for client relationship the executives.
Asia Pacific is probably going to display momentous market development with the most elevated CAGR during the conjecture time frame. Associations have expanded their proposals in the Customer Communication Management market as web entrance and per client online utilization extension. Moreover, SMEs in the locale have extended their interest in new advances, for example, AI, and information examination.
The Middle East and Africa, and Latin America are in a developing stage, so there is a consistent development of the customer communication management market in the locale.
Global Customer Communication Management Market By Geography, 2021 - 2028
- Largest
- Fastest
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Customer Communication Management Market Dynamics
Customer Communication Management Market Driver
- Client commitment is maintained across omnichannel because of the quick Customer Communication Management resolutions. One of the main factors driving the Customer Communication Management market’s growth is the growing requirement to keep clients linked through various channels of communication. To maintain a healthy client connection, associations must send relevant information and special propositions to their clients on a regular basis. Clients in today's innovation-driven world want to communicate with businesses via channels of their choosing, such as voice, email, web, mobile, SMS, and virtual entertainment.
Customer Communication Management Market Restraint
- Data privacy and synchronisation- Organizations collect a massive amount of data through numerous channels in order to have a better understanding of customer preferences, needs, purchasing patterns, and so on. With the rise of smart technologies and cell phones, businesses are inundated with data gathered from both internal and external sources. Better information synchronisation becomes critical in organising and dissecting customers' excursions in this instance. Historically, businesses have relied on clump-based record synchronisation. However, the associations may face dwindling benefits and a loss of consumer trust if they pursue this strategy.
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Customer Communication Management Market Competitive Landscape
Key industries in the customer communication management market are focusing their endeavours on developing their shopper base in new nations. To further develop their portion of the overall industry and benefit, these organizations are depending on key cooperative drives. Major players are including Adobe, Dell EMC, Oracle Corporation and Newgen Software Technologies and many others.
Customer Communication Management Market Top Players Company Profiles
- Adobe
- OpenText
- Pitney Bowes
- Xerox Corporation
- Oracle Corporation
- Quadient
- GMC Software AG
- HP Inc.
- Crawford Technologies
- Doxee
- Smart Communications
- Toppan Forms Co. Ltd.
- Zoho Corporation
- Striata
- Kofax Inc.
- Newgen Software Technologies Ltd.
- Messagepoint Inc.
- Ecrion Software Inc.
- Intense Technologies Ltd.
- Neopost
Customer Communication Management Market Recent Developments
- In February 2022, Capgemini and OVH Cloud reported a worldwide collusion association understanding planned to address the cloud change requirements of public and confidential associations.
- In June 2021, Doxim delivered an omnichannel client correspondence arrangement in the United Kingdom to help its clients in succeeding at omnichannel interchanges and boosting the venture worth of all client connections.
Customer Communication Management Key Market Trends
- The cloud-based stage is continually developing, which gives the organization applications without difficulty and cost of overseeing and getting the fundamental programming and equipment layers. SMEs are laying attention on upgraded client communications to enhance their contributions. Customer Communication Management is supposed to develop in a cloud-based climate to take special care of huge endeavours as well as SMEs. Subsequently, ventures are supposed to change to a cloud climate to teach adaptability in a correspondence framework.
Customer Communication Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by component, the Solutions sector dominated the Customer Communication Management Market has the largest revenue share in 2021. By deployment segment, the on-premises segment has the biggest hold on the Customer Communication Management Market. By Industry Verticals, The IT and Telecommunication sector dominated the Customer Communication Management Market. Region-wise, the North America region held the highest Customer Communication Management Market share.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.63 billion |
| Market size value in 2031 | USD 3.89 billion |
| Growth Rate | 9.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Customer Communication Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Customer Communication Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Customer Communication Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Customer Communication Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Customer Communication Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Customer Communication Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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