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2025-2034 Customer Communications Management Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Customer Communications Management Market
What Is the Expected CAGR for the Customer Communications Management Market Through 2025?
In recent times, the market size of customer communications management has seen substantial growth. It's projected to expand from $1.59 billion in 2024 to $1.75 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.8%. This surge during the historical period can be linked to the uptake of multichannel communication strategies, the evolution of customer-centric business models, focus on regulatory compliance in communications, developments in digital and tailor-made marketing, and a rise in customer experience optimization.
What's the Projected Size of the Global Customer Communications Management Market by 2029?
In the forthcoming years, the customer communications management market is anticipated to experience a swift growth surge, ballooning to $2.88 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 13.4%. Factors contributing to the expected growth during this forecast period comprise the broadening of omnichannel customer engagement, rising requirement for dynamic and interactive content, focus on customer communications privacy and data security, and the expansion of cloud-based customer communications management solutions. The forecast period is also likely to witness trends such as personalised and hyper-personalised customer communications, integration of customer relationship management (CRM) systems, the emergence of conversational and chatbot-based communications, adoption of interactive and rich media documents, and the transition towards automated and self-service customer communications.
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Top Growth Drivers in the Customer Communications Management Industry: What's Accelerating the Market?
The proliferation of smartphones worldwide is a major factor propelling the expansion of the customer communication management market. Smartphone penetration denotes the number of active mobile phone subscriptions in relation to the total market for mobile phones. The ability to manage customer communication across diverse channels, such as live chat, email for feature requests, SMS/MMS, adaptable mobile design experiences, and app notifications, is facilitated by smartphones. As an example, data from Uswitch Limited, a UK-based financial conduct authority, indicates that in February 2023, UK mobile connections hit 71.8 million, marking a 3.8% increase from the previous year, which is approximately an additional 2.6 million connections. It is also predicted that the UK's population will increase to 68.3 million by 2025, with nearly 95% of this population, almost 65 million people, owning a smartphone. Consequently, the rising prevalence of smartphones is anticipated to stimulate market growth in the forthcoming years.
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What Trends Will Shape the Customer Communications Management Market Through 2029 and Beyond?
In the realm of customer communication management market, technological innovations are becoming more and more sought after. Top market players are making significant strides in deploying advanced technologies such as artificial intelligence, machine learning, NLP, automation, cloud services, and sophisticated analytics. These newly emerging technologies are ushering in an era where businesses are able to provide more individualized, streamlined, and expandable customer communications - intensifying customer involvement and gratification across various platforms by ensuring unified and steady communication throughout the customer's journey. For instance, EngageOne RapidCX, a tool designed to transform Customer Communication Management (CCM), was launched by a US-based software company specializing in data integrity tools in May 2023, primarily targeting heavily controlled sectors.
What Are the Main Segments in the Customer Communications Management Market?
The customer communications management market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Organization Size: Large Enterprises, Small And Medium Enterprises
4) By Vertical: IT And Telecom, Retail And eCommerce, BFSI, Healthcare, Travel And Hospitality, Government, Utilities, Other Verticals
Subsegments:
1) By Solution: Document Generation Solutions, Customer Engagement Solutions, Workflow Automation Solutions, Analytics And Reporting Solutions
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training Services
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Which Top Companies are Driving Growth in the Customer Communications Management Market?
Major companies operating in the customer communications management market include Adobe Inc., Capgemini SE, CEDAR CX Technologies, Open Text Corporation, Sefas Innovation Inc., ABBYY Solutions Ltd., Avaya LLC., BCC Software LLC., Broadridge Financial Solutions Inc., Cincom Systems, Cognizant Technology Solutions Pvt Ltd., Crawford Technologies Inc., Dell Technologies Inc., Doxee S. p. A., Exela Technologies Inc., GMC Software AG, Hewlett Packard Enterprise Development LP, Kofax Inc., Messagepoint Inc., Newgen Software Technologies Limited, Hyland Software Inc., Objectif Lune Inc., OneSpan Inc., Oracle Corporation, Pitney Bowes Inc., The Ricoh Company Ltd., Xerox Corporation., Zoho Corporation.
Which Regions Will Dominate the Customer Communications Management Market Through 2029?
North America was the largest region in the customer communications management market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the customer communications management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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