Customer Communications Management Market by Component (Solutions and Services), Deployment Type, Organization Size, Vertical (IT and Telecom, BFSI, Retail & eCommerce, Travel & Hospitality, Healthcare), and Region - Global Forecast to 2026
MarketsandMarkets forecasts the global post-COVID-19 CCM market size to grow from USD 1.3 billion in 2021 to USD 2.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.2% during the forecast period. The major growth drivers for the market include increasing adoption of CCM solutions and services in various verticals such as IT and telecom, retail and eCommerce, healthcare, BFSI, travel and hospitality, government, utilities, and other verticals.
Among component, solution segment to hold a larger market size during the forecast period
The solution segment is expected to hold the largest market size during the forecast period. Enterprises deploy CCM solutions to provide customers highly connected personalized experiences across a wide range of websites, stores, call centers, mobile apps, social media, emails, virtual assistants, and other touchpoints. Customer queries would be resolved through automatic response processes and solutions wherein customers receive real-time feedback on their queries. Enterprises are aware of the importance of each interaction, which carries customers’ perception of products or brands. Solutions such as omnichannel, ML, analytics, and workforce optimization are the backbone of modern customer services, which offer brands and products a competitive edge.
Among Verticals, IT and Telecom vertical to grow at the highest CAGR during the forecast period
CCM market is segmented into IT and telecom, retail and eCommerce, BFSI, travel and hospitality, healthcare, government, utilities, and other verticals. CCM solutions help simplify IT infrastructure through a single, comprehensive solution for batch automation and interactive communications generation. In this way, companies can utilize data while creating documents. This enables them to create valuable content and contribute directly to objectives of their customer experience strategy. Therefore, telecommunications and IT companies have started investing in CCM solutions that would help them deliver high-quality services to their customers.
Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
APAC countries are increasingly investing in CCM projects. The CCM market in APAC has been sub-segmented into China, Japan, India, and the rest of APAC. These countries act as a major driver for the growth of the market in the region. The increasing internet penetration and per user online consumption have led organizations to enhance their offerings in the CCM market. This rapid growth is because of its growing technology adoption rate. The growth of SMEs in the region has increased their spending on advanced technologies, such as AI, ML, and data analytics, to compete in the market and capture more opportunities. The implementation of CCM solutions has become more plausible for these businesses. Cloud computing is adopted on a large scale by organizations in the region’s developed economies, such as Japan, ANZ, and Singapore. As the cloud technology is used as a repository of data for further analysis, its increased adoption is expected to drive the growth of the CCM market.
By Company: Tier I: 34%, Tier II: 43%, and Tier III: 23%
By Designation: C-Level Executives: 50%, Directors: 30%, Others: 20%
By Region: North America: 30%, Europe: 30%, APAC: 25%, MEA: 10%, Latin America:5%
The report includes the study of the key players offering CCM solutions and services. It profiles major vendors in the global CCM market, including Adobe(US), Oracle(US), OpenText(US), Zendesk(US), Newgen Software(India), Capgemini(France), Quadient(France), Smart Communications(England), Sefas(France), CEDAR CX Technologies(US), Messagepoint(Canada), Doxim(Canada), Topdown(US), Napersoft(US), Ecrion(US), Doxee(Italy), Papyrus Software(Austria), Hyland(US), Bitrix24(US), Braze(US), HelpCrunch(US), AdventSys(India), Front(US), Trengo(Netherlands), Podium(US), Pitney Bowes(US).
The report segments the global CCM market by component, by deployment mode, by organization size, by verticals, and by region. The component includes solutions and services. The deployment mode comprises of on-premises and cloud. The organization size include large enterprises and SMEs. The CCM market by verticals include IT and telecom, retail and eCommerce, healthcare, BFSI, travel and hospitality, government, utilities, and other verticals. The report covers the CCM market with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA) and Latin America.
The report would help the market leaders and new entrants in the global CCM market in the following ways:
1. The report segments the market into various subsegments. Hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are split further across applications and regions.
2. It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
3. It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.
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