Customer Communications Management Market worth US$ 2,752.4 Million by 2028 - Exclusive Report by The Insight Partners

The customer communications management market size is expected to grow from US$ 1,325.6 million in 2021 to US$ 2,752.4 million by 2028; it is estimated to grow at a CAGR of 11.4% from 2022 to 2028.

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Customer communications management enables organizations to improve customer communications across various channels. It increases communication efficiency and helps find better ways to engage customers, improve their communication strategy, and strengthen customer relationships. The growing adoption of CCM solutions and services in various verticals such as IT & telecom, retail & e-commerce, healthcare, BFSI, travel & hospitality, government, and utilities, is driving the CCM market growth.

Top Companies Mentioned:
• Adobe Systems Inc.
• Canon Cyprus
• Dell Technologies
• DocCentrics
• Hewlett Packard Enterprise Development LLC
• Newgen Software Technologies Limited
• Open Text Corporation
• Oracle Corporation
• Pitney Bowes Inc.
• Xerox Corporation

The growing demand for enhanced functionalities of multi-channel-based marketing and customer experience management and the increasing usage of analytics and mobility for customer communications management are among the key factors driving the growth of the customer communications management market. The integration of cloud-based Customer Communications Management technology is emerging as a potential opportunity for the customer communications management market. Further, the growing adoption of advanced technologies such as natural language processing for better consumer experience offers lucrative growth prospects for the market. However, the data synchronizations and complexities in Customer Communications Management software and security issues of such integrated platforms are hampering the customer communications management market growth.

Component-Based Customer Communications Management Market Insights:
The customer communications management market analysis by component, the market is segmented into solution and service. The solution segment accounted for a larger customer communications management market share in 2021. The growing adoption of CCM solutions by various industries, such as manufacturing, IT & telecom, and retail, to improve the customer experience and retain the customer is driving the market growth for the solution segment.

Deployment-Based CCM Market Insights:
The customer communications management market analysis by deployment, the market is segmented into cloud-based and on premise. The cloud-based segment accounted for a larger market share in 2021. Ongoing initiatives for integrating the cloud-based platform with the CCM solutions fuel the market growth for the cloud-based segment.

Enterprise Size-Based CCM Market Insights:
By enterprise size, the market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment accounted for a larger market share in 2021. The market growth for the small & medium enterprises segment is primarily attributed to the growing adoption of CCM solution by various industries to keep customer engagement through multiple channels. It also helps in reducing customer churn rates, which is driving the CCM market growth.

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Industry-Based CCM Market Insights
Based on industry, the customer communications management market is segmented into BFSI, IT and telecom, manufacturing, retail, energy & utilities, government, and others. The IT & Telecom segment accounted for the largest share of the market in 2021. The market growth for the segment is primarily attributed to the growing adoption of CCM solution in banking and insurance sector to enhance the customer communication. Moreover, the market for the retail segment is projected to grow at a faster pace during the forecast period.

Players operating in the customer communications management market are mainly focused on the development of advanced and efficient products.

• In January 2022, Quadrant Knowledge Solutions, a worldwide research and consulting business, recognized Messagepoint as a SPARK Matrix Customer Communications Management (CCM) Technology Leader for 2022.

• In April 2021, Doxim, a leading customer communications management (CCM) and engagement technology supplier for financial and regulated markets, announced the addition of Doxim CCM Interactive Video to its enterprise-grade CCM platform.

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Additionally, the report includes an exhaustive analysis of the market and concludes with precise estimates of the revenue generation by each segment, country, region and company. Every detail that might prove to be essential for making strategic decisions is mentioned along with solutions and suggestions from expert analysts. Each segment of the market is studied extensively to provide reliable knowledge for supplementary market investments.

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