Pune, India, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The global Customer Communication Management Market size was valued at USD 1.73 billion in 2022 and is projected to reach USD 4.13 billion by 2030, exhibiting a CAGR of 11.8% during the forecast period. Fortune Business Insights presents this information in their report titled "Global Customer Communication Management Market Forecast, 2023-2030."
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Customer Communication Management (CCM) solution is primarily deployed for customer satisfaction improvement, enhancement of quality of customer interactions, and making strong relationships with customers. The market expansion can be ascribed to the growing deployment of the solution in several industries, such as healthcare, IT & telecom, government, BFSI, retail, and others.
Notable Industry Development:
May 2023- Precisely announced the launch of EngageOne RapidCX, offering the latest innovation in customer communications management. Moreover, the new solution allows organizations to offer enhanced and more efficient customer experiences with the help of data-driven and personalized communications.
Key Takeaways
- Customer Communication Management Market size in North America was USD 0.65 billion in 2022
- Surge in Demand for Digital Transformation Across Industries Propelled the Market Growth
- Ability of Customer Communication Management Solution to Tailor Messages to Fuel Software Segment Growth
- Surging Adoption of CCM Solutions by Banks to Escalate the BFSI Segment Growth
Discover the Leading Players Featured in the Report:
“Companies leading the global Customer Communication Management Market are Quadient (France), Doxee S.p.A (Italy), Doxim (Canada), Newgen Software Technologies Limited (India), Open Text Corporation (Canada), Intense Technologies (in10stech) (India), BelWo, Inc. (U.S.), Precisely (U.S.), Smart Communications (U.K.), Nagarro (Germany)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 11.8% |
| 2030 Value Projection | USD 4.13 billion |
| Base Year | 2022 |
| Customer Communication Management Market Size in 2022 | USD 1.73 billion |
| Historical Data for | 2017 to 2021 |
| No. of Pages | 120 |
| Segments covered | Component, Channel, End-Use and Geography |
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Drivers and Restraints:
Rising Adoption of Cloud-based Customer Communication Management by Top Companies to Spur Market Growth
One of the major factors propelling the customer communication management market growth is an increase in the adoption of cloud-based customer communication management by leading players. Cloud communication deploys cloud-hosted technologies, tools, and platforms for the development of customer contact strategies such as video conferencing, sending messages, and hosting chats.
However, the growing complexity of data synchronization and templates may impede the market growth.
Segmentation
By Channel
- SMS
- Website
- Social Media
- Others (Print, Phone Calls, and others)
By Component Type
- Software
- Services
By Industry
- BFSI
- Retail
- IT & Telecom
- Government
- Healthcare
- Others (Energy & Utilities, Media & Entertainment, and others)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America Dominates due to Strong Presence of Several CCM Solution Providers
North America customer communication management accounts for the largest share, owing to the robust presence of several CCM solution providers in the region.
Asia Pacific market growth is driven by the deployment of the solution by businesses for retaining existing customers.
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Competitive Landscape:
Major Players Focus on Product Innovations to Strengthen their Position
Major market players are focusing on expanding their geographical footprint across the globe by launching industry-specific solutions. Moreover, joint ventures and mergers and acquisition strategies are being adopted by other players to increase their share. Several companies are also investing substantially in intense research and development to launch innovative products.
FAQs
How big is the Customer Communication Management Market?
The Customer Communication Management Market size was USD 1.73 billion in 2022. It is expected to reach USD 4.13 billion by 2030.
How fast is the Customer Communication Management Market growing?
The Customer Communication Management Market will exhibit a CAGR of 11.8% during the forecast period, 2023-2030.
Related Reports:
Customer Relationship Management (CRM) Market Size, Share, Revenue Forecast and Opportunities
Customer Experience Management Market Overview, Industry Share and Forecast
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