Multi-channel Communication Services Market Analysis and Forecast 2020: By Keyplayers Ecrion Software, Striata, Xerox Corporation, Quadient, Liquid State, MailTeck, Conduent, Inc., Enghouse Interactive, Paragon Customer Communications, Infobip ltd, and Co

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Market Overview

Multi-channel communication can be defined as communications with customers through multiple channels such as print, SMS, e-mail, web portals, and mobile applications. Multi-channel communication involves sending information through multiple channels. Multi-channel communication services facilitate clients to complete end to end information transactions utilizing different multiple channels. Multi-channel communication service involves delivering the right information, at right time, through right communication channel. Moreover, a multi-channel communications strategy does not support interactive or bidirectional communications with customers.

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Competitive Section

Key companies operating in the global multi-channel communication services market include Ecrion Software, Striata, Xerox Corporation, Quadient, Liquid State, MailTeck, Conduent, Inc., Enghouse Interactive, Paragon Customer Communications, Infobip ltd, and Compart AG among others.

The global multi-channel communication services market is expected to exhibit a CAGR of 21.4% during the forecast period (2019-2027).

Market Dynamics- Drivers

1. Increasing adoption of e-commerce in the retail industry is expected to drive growth of the global multi-channel communication services market during the forecast period

Retail e-commerce allows consumers to buy goods from the seller over the internet. Consumers can buy required products by visiting the website. E-commerce is one of the major channel in multi-channel communication platform. Top retailers are adopting retail multichannel communication platform to provide seamless shopping experience to their customers. Moreover, increasing adoption of mobile phones and rising penetration of internet in retail industry are expected to drive growth of the global multi-channel communication services market over the forecast period. For instance, according to Coherent Market Insights, in 2016, there were around 4,900 million mobile phone users worldwide, and the number is expected to reach 5,500 million by 2021.

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Key Developments

1. Key companies are focused on expanding product portfolio, in order to gain competitive edge in the market. For instance, in November 2016, Xerox expanded its portfolio of communication and marketing solutions, and enhanced its document transaction processing services. Moreover, both services helped large enterprises to better manage front- and back-end business processes and reduced invoice processing costs.

2. Key manufacturers are focused on product showcase, in order to enhance their product portfolio. For instance, in October 2016, R. R. Donnelley & Sons Company, one of the leader in enabling integrated multi-channel marketing and business communications, showcased its suite of data-driven multichannel communication services designed to enable customers to transform everyday consumers into lifelong customers at “&THEN”, the Direct Marketing Association’s annual event, at the Los Angeles Convention Center in Los Angeles, California.

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