(Wireless-NewsWire.Com, November 19, 2019 ) Market Overview
• Customer Communications Management (CCM) is a software to enable companies to manage customer communications across a wide range of media including printed documents, email, web pages and text messages. It entails an automated process that involves not only the delivery of communication but also the segmentation of messages according to different customer profiles and contexts.
• The major drivers of this market efficiency that Customer communications management system provides by automating and simplifying the business procedures Customer Communications Management is software that allows organizations to centralize communications with customers across a diverse range of channels, both analog and digital. It includes printed documents, emails, PDF attachments, interactive documents, SMS text messages and more. Advanced Natural Language Processing (NLP) and Artificial Intelligence (AI) have made the CCM much more advance then earlier and are solving business problems by providing better services by being available 24*7, also by giving quick solutions to the customers. Moreover, the businesses are adopting is quickly to enhance customer experience and engage a large number of customers cost-effectively.
• Moreover, increased IT services in regions like APAC has also fostered growth in the global CCM market. For instance, In 2015, IT services spending reached 90.6 billion U.S. dollars in the Asia Pacific.
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• By End-User Industry, the global CCM market is segmented into IT and Telecom, BFSI, Healthcare, Retail, Government, and Other. In 2018, BFSI sector accounted for the majority share in the market. This is mainly due to the capitalization of market opportunities over different geographies and the requirement for cross-selling and up-selling the products. The BFSI sector is gaining advantage by outsourcing the service, as it helps reduce operating cost and maximize customer service so that the companies in this sector can concentrate on their core business.
• By deployment, the global CCM market is segmented into On-premise and cloud. In 2018, On-premise deployment segment accounted for the largest market share in the global market. On-premises deployment widely used in verticals like BFSI, and government and defense; mainly to secure sensitive data, financial records, accounting information, and money transfers. On-Premise deployment is a traditional approach to implement CCM solutions across enterprises. The organizations where user credentials are critical for business operations would prefer the on-premises deployment, as it provides them with the flexibility to control their IT systems. However, cloud deployment segment is expected to grow at an exponential rate, mainly due to the rising adoption of cloud-based solutions.
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• By geography, the global Customer Communication Management Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
• In 2018, North America region is dominating the Customer Communication Management market followed by Europe, APAC, and other regions. North America is expected to continue to dominate the global market owing to the existence of several market key players such as Adobe, OpenText, and others in these particular regions. Furthermore, the growing utilization of technologies, for instance, mobility for customer relationship management and social media, are developing the market prospects in these regions.
• Asia Pacific is also gradually adopting CCM software technologies due to the entrance of established key players thus driving the growth of the customer communication management market. With the rising economies the greater number of mid and small-sized enterprises are growing which are investing in CCM as it will enable the companies to engage large number of customers.
• Key players in the market are OpenText Corp., Doxee S.p.A. GMC Software AG, Adobe Systems Incorporated, SmartComms SC, Limited, Newgen Software, Inc., Oracle Corporation, Inc., Zoho Corporation, Ecrion, Inc., and Striata, among others.
• Major players with prominent shares in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market shares and profitability.
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