Customer Communication Management Market Size, Share & Industry Analysis, By Component (Services, Solutions), By Deployment (On-premises, Cloud), By Organization Size (Large Enterprises, Small & Medium-Sized Enterprise), By Industry (Government, Banking, Financial Services, and Insurance (BFSI), Retail, Healthcare, Media & Entertainment) And Regional Forecast 2022-2029
Pune, India, May 17, 2022 (GLOBE NEWSWIRE) -- The customer communication management market size will witness an appreciable gain on the back of the rising adoption of customer communication management (CCM) solutions across industry verticals. With rising demand to enhance the customer experience to retain customers, leading companies are likely to inject funds into the landscape. Moreover, a surge in cybersecurity cases has furthered the need for advanced communication management solutions. Fortune Business Insights™ has delved into these inputs in an upcoming research report, titled, “Customer Communication Management Market Size, 2022-2029.”
Customer Communication Management Industry Developments
December 2020: Newgen Software Technologies Limited rolled out OmniOMS 9.0, which is an advanced version of the customer communication management system.
November 2020: Oracle Corporation introduced the latest cloud-based customer experience management solutions for the communication industry to boost personalization.
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Drivers and Restraints-
Expanding Footfall of Omnichannel Experience to Underpin Industry Growth
Stakeholders are likely to bank on the rising need to foster the omnichannel experience across the advanced and emerging economies. In a bid to remain competitive, leading companies are likely to bank on seamless CCM solutions. In doing so, major companies are likely to integrate CCM technology with the cloud, thereby underpinning customer communication management market share. SMEs are expected to count on improved customer interactions to bolster their product offerings. Moreover, advanced technologies, such as cloud, AI and ML, will continue to gain an uptick to protect corporate data. With digitization taking center stage, the need for seamless communication will gain immense popularity. However, concerns regarding data synchronization and customer feedback process may impede the industry growth.
Pandemic Augments Need for Digital Brands
The upsurge of COVID-19 cases led to the demand for advanced CCM solutions and services to streamline communication in the midst of the pandemic. End-users exhibited profound traction for AI and cloud, auguring well for the business outlook. It is worth noting that the prevalence of digital brands has remained pivotal for industry growth. With the soaring demand for personalized services with agility, CCM platforms will continue to receive impetus over the next few years.
The Customer Communication Management Market report offers a comprehensive view of factors reshaping the industry dynamics, including opportunities, drivers, restraints and trends. The primary sources are used to validate assumptions and findings to provide a bird-eye-view of the global market. The report also includes secondary resources, including press releases, annual reports, journals and white papers. Furthermore, quantitative and qualitative analyses have been sought to offer a granular view of the market.
Cloud Platform to Gain Traction with Rising Demand to Boost Brand Visibility
In terms of component, the market is segmented into solutions and services.
Based on deployment, the industry is fragmented into cloud and on-premises. With respect to organization size, the market is segregated into small & medium-sized enterprises and large enterprises. On the basis of industry, the market covers banking, financial services and insurance (BFSI), government, healthcare, retail, media & entertainment, IT & telecommunication, energy & utilities and others. From the regional perspective, the Customer Communication Management Market is segmented into Europe, North America, Asia Pacific, Latin America and the Middle East & Africa.
The cloud segment could contribute notably toward the global market in the wake of soaring demand to boost brand visibility.
To get to know more about the short-term and long-term impact of COVID-19 on this Customer Communication Management Market,
North America to Observe Investment Galore with Exponential Rise in Social Media Platforms
A notable use of social media platforms and mobility to bolster customer relationship management will foster North America market size. Besides, the presence of major companies, such as Open Text Corporation and Adobe, has further expedited the need for customer communication management solutions. A growing uptick of data analytics and AI across BFSI, government, healthcare and retail sectors will solidify the position of the U.S. and Canada in the global market.
Asia Pacific customer communication management market growth will be pronounced following the exponential rise in internet penetration and online consumption. For instance, SMEs have upped their investments in advanced technologies and will continue to be viable for the end-use sectors. Expanding digital channels across China, Japan, Australia and India will boost the demand for customer communication management solutions and services.
Leading Companies Prioritize Product Personalization to Gain Traction
Well-established players and emerging companies could invest in R&D activities, technological advancements, and product rollouts over the next few years. Besides, industry players are expected to infuse funds into mergers & acquisitions and product offerings to expand their footfall across untapped regions.
Companies Profiled in the Customer Communication Management Market Report:
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