The Global Customer Communications Management Market size is expected to reach $2. 6 billion by 2027, rising at a market growth of 11. 8% CAGR during the forecast period. A software that enables companies to centralize the communication process with their customers across a wide range of channels including digital and analog is termed Customer Communications Management.
New York, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Customer Communications Management Market By Component, By Organization Size, By Deployment Mode, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06131526/?utm_source=GNW
This software consists of emails, printed documents, interactive documents, SMS text messages, PDF attachments, and many more. CCM has evolved and become more advance by using Natural Language Processing (NLP) & Artificial Intelligence (AI) technologies. This development helps companies to solve various communication problems by offering improved services through the 24X7 availability and also provide solutions to the customers’ queries faster. In addition, companies are rapidly adopting CCM to improve customer experience and better engage with a huge customer base in a more cost-effective manner.
The increasing customer queries across many industry verticals are anticipated to bolster the growth of the customer communication management (CCM) market over the forecast period. One of the vital things for any company to succeed in the highly competitive market is to interact & connect with their customers so as to solve their queries. In order to fulfil this requirement, companies are utilizing CCM software. This software helps enterprises to centralize communication across analog and digital channels to better communicate with their customers.
The CCM solution helps in minimizing the overall cost attached to the creation of the documents and correspondence. Hence, CCM software is witnessing a surge in its demand by small and medium-sized enterprises (SMEs). In addition, it also helps a company to follow all the rules & regulations related to customer privacy. The evolution of social media and the rising adoption of the smartphone are anticipated to open new lucrative opportunities for the CCM market since the companies can able to target their potential customers based on their preferences.
COVID-19 Impact Analysis
The outbreak of the global COVID-19 pandemic has a huge impact on every domain of society, be it individuals or businesses. Various impositions like the travel ban, nation-wide lockdown and temporary shutdown of offices & manufacturing units have majorly affected the companies. However, many companies across the globe are rapidly working to create communication management plans to cope up with the COVID-19 impact. There is increasing investment in CCM platforms that are using AI and the cloud, to improve communications during the pandemic.
Customers have become dependent on online or digital platforms for obtaining their products & services during the pandemic due to the imposition of precautionary measures like social distancing and lockdown. CCM solutions integrated with transaction data can help the CCM vendors to do personalization. These solutions allow organizations to provide customers with customized service experience, quick response and solving their queries faster and establish a connection with a company anytime.
Based on Component, the market is segmented into Solution and Services. Based on Component, the solution segment is estimated to acquire the largest market share over the forecast period. Companies are increasingly implementing CCM solutions to offer their customers more connected & customized experiences across a broad variety of channels like stores, mobile apps, websites, social media, call centers, virtual assistants, emails, and other touchpoints.
Organization Size Outlook
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. The Large Enterprises market dominated the Global Customer Communications Management Market by Organization Size 2020, and would continue to be a dominant market till 2027. The Small & Medium Enterprises market is expected to witness a CAGR of 13.6% during (2021 - 2027).
Deployment Mode Outlook
Based on Deployment Mode, the market is segmented into On-premise and Cloud. There are many companies in which user credentials are very important for business operations, due to which many companies are inclined towards the on-premises deployment, as it offers them with great flexibility to operate their IT systems. Though, the cloud deployment segment is projected to acquire a significant growth rate in the forecast period owing to the increasing adoption of cloud-based solutions.
End User Outlook
Based on End User, the market is segmented into IT & Telecom, Retail & eCommerce, BFSI, Healthcare, Energy & Utilities, Government & Defense and Others. On the basis of vertical, the IT and telecom segment is estimated to garner the highest growth rate over the forecast period. These CCM solutions support the companies in simplifying IT infrastructure by a unified and comprehensive solution for batch automation and better interactive communications generation. Further, it helps organizations to use data and also create documents. This allows them to make more valuable content and support directly to the goals of their customer experience strategy.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific nations are heavily investing in CCM projects. Countries like India, China and Japan are the major regions in the CCM market. The growing internet penetration along with the per user internet consumption has motivated companies to improve their capabilities in the CCM market. This swift growth is attributed to the increasing technology adoption rate in the region.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Adobe, Inc. and Oracle Corporation are the major forerunners in the Customer Communications Management Market. Companies such as Zendesk, Inc., Quadient SA, and Newgen Software Technologies Limited are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Adobe, Inc., Oracle Corporation, Capgemini SE, Newgen Software Technologies Limited, OpenText Corporation, Zendesk, Inc., Hyland Software, Inc., Quadient SA, PLDT, Inc. (Smart Communications, Inc.), and ISIS Papyrus Europe AG.
Recent strategies deployed in Customer Communications Management Market
Partnerships, Collaborations, and Agreements:
Mar-2021: Zendesk teamed up with Jio Haptik Technologies Limited, a subsidiary of Reliance Jio Platforms. This collaboration focuses on helping companies transform customer experience and integrate AI-driven automation with human-powered empathy.
Feb-2021: Capgemini entered into a partnership agreement with OVHcloud, a French cloud computing company. This partnership focuses on addressing the cloud transformation requirements of public and private organizations.
Feb-2021: Newgen Software entered into a partnership with Glia, a leading provider of Digital Customer Service. Under this partnership, Newgen would combine its online account opening & lending portals with Glia. Glia’s advanced communications & collaboration platform enables users to engage with their institutions via their channel of choice that includes messaging, voice, video, or an integration of all three.
Nov-2020: Zendesk joined hands with Facebook. Under this collaboration, Zendesk introduced a series of exciting updates and Facebook selected Zendesk as a preferred CX partner for delivering improved support to users over messaging channels. Together, Zendesk and Facebook would work on the latest product capabilities & features, like a Messenger API for Instagram.
Oct-2020: Adobe came into partnership with Dentsu, a multinational media and digital marketing communications company. Under this partnership, Merkle, Dentsu International’s customer experience management (CXM) company, has joined Adobe’s technology partner program as a preferred partner with its Merkury identity resolution platform. This partnership aims at market-leading integrations, which combine the strengths of Merkury & Adobe Experience Cloud across identity resolution & audience management.
Oct-2020: Adobe joined hands with Microsoft, an American multinational technology company. Together, the companies introduced C3 AI CRM powered by Microsoft Dynamics 365. It is the first enterprise-class, AI-first customer relationship management solution specially developed for industries, integrates with Adobe Experience Cloud, and helps in customer-facing operations with predictive business insights.
Oct-2020: Zendesk partnered with Amperity, the first AI-powered Customer Data Platform (CDP). Under this partnership, Amperity would integrate with Zendesk’s customer relationship management (CRM) platform, enabling joint users to put into action the full breadth & depth of user intelligence from Amperity.
Sep-2020: Oracle Fusion Cloud Customer Experience (CX) teamed up with Sprinklr, a Customer Experience Management (CXM) platform for modern enterprises. This collaboration aims to assist marketers to reach audiences on social media & other messaging channels at any point in the user journey and also user service professionals solve service requests more effectively and efficiently.
Aug-2020: Adobe entered into a partnership with HDFC Bank. This partnership is powered by Adobe Experience Cloud Solutions and would assist HDFC Bank to provide customized digital experiences to prevailing and also new customers, at any time and anywhere. The HDFC Bank would utilize platforms such as the Data Management Platform in Adobe Audience Manager to create a deep understanding of the users.
Aug-2020: Newgen Software entered into collaboration with Clarien Bank. In this collaboration, Clarien Bank has selected Newgen Omnichannel Customer Engagement (CCM) product portfolio to simplify customer interactions. With Newgen’s CCM portfolio, the bank would obtain and offer customized, content-rich, and on-demand communication to its users.
Jul-2020: Quadient came into partnership with Infosys, an Indian multinational information technology company. Under this partnership, Infosys become a Platinum Business Partner in Quadient’s Partner Advantage Program. In addition, Infosys would leverage & supply Quadient solutions to offer companies the top omnichannel Customer Communication Management (CCM) platform and the ability to fulfil complicated communication requirements and also being aligned to their user experience strategy.
Jul-2020: Quadient entered into a partnership with Sapiens International Corporation, a publicly-traded company. This partnership aimed to bring improved omnichannel distribution offerings to Sapiens solutions and helps insurers’ business customers to manage complicated templates as part of their customer communications strategy.
Jun-2020: Adobe partnered with Walgreens Boots Alliance and Microsoft. This partnership aims to release a top-class digital experience and user insights platform to offer tailored healthcare and shopping capabilities. It would offer Walgreens and Boots users products & services from its international pharmacy and retail businesses anywhere, anyplace and any way they may need them.
Mar-2020: Zendesk partnered with Tata Consultancy Services (TCS). This partnership integrates Zendesk’s strong support, sales and engagement software solutions with TCS’ expert contextual knowledge & experience in digital transformation. Both the companies would collaborate and more effectively resolve enterprises’ increasingly complicated technological needs and offer powerful CRM custom solutions & integrations.
Acquisition and Mergers:
Jan-2021: Smart Communications took over Assentis, a leading solution provider of customer communication management (CCM). Through this acquisition, Smart Communications aimed to expand its geographic presence and offer its cloud solution to companies in Continental Europe along with the UK, Australia, New Zealand, the United States, and Singapore.
Mar-2020: OpenText took over XMedius, a provider of secure information exchange and unified communication solutions. XMedius brings its experience and patented technologies to transform safe and collaborative communication, allowing companies to shift more workloads to the cloud & unveil the information benefit.
Oct-2019: Oracle entered into an agreement to acquire CrowdTwist, the leading cloud-native customer loyalty solution. In this acquisition, the CrowdTwist team will unite with the Oracle Customer Experience (CX) Cloud organization.
Jul-2019: Smart Communications took over Intelledox, a global digital transformation software company. This acquisition aimed to better equipped Smart Communications to offer top-class, two-way customer interaction across the whole customer journey. Together, the companies would redefine customer engagement and also enhancing internal efficiency and witnessing ROI that is unmatched in the industry.
May-2019: Zendesk took over Smooch Technologies Holdings. Through this acquisition, Zendesk aimed to provide omnichannel experiences on any messaging channel.
Product Launches and Product Expansions:
May-2021: Quadient introduced Inspire Evolve, which is a high-performance, software-as-a-service (SaaS) customer communications management (CCM) solution. The solution supports quick company transformation by empowering the employees disregarding their technical expertise, with the capability to operate customer communications with some reliance on IT.
Feb-2021: Oracle introduced new updates to Oracle Cloud Customer Experience (CX). These new updates to Oracle Service, Oracle Sales, and Oracle Marketing assist companies to boost sales cycles, solve customer service inquiries quicker and create engaging loyalty programs, which could grow customer lifetime value.
Feb-2021: Quadient released Quadient Impress version 1.2, an upgrade of the multichannel outbound document management platform. It automates the customer communication workflow for small and medium businesses (SMBs). This version consists of architecture updates across the cloud-based platform, which accelerate the task of preparing & sending customer interactions on-site or remotely with more scalability and improved security.
Dec-2020: Newgen Software introduced OmniOMS 9.0, an upgraded version of its customer communication management system. The new version of the software delivers a strong and integrated communications platform connecting a wide range of information sources, information types, and distribution channels. The incorporated functionalities help customers with simplified customer communication creation, distribution, design composition change management, and control.
Nov-2020: Oracle unveiled the latest cloud-based customer experience (CX) management solution for the communications sector. Oracle Digital Experience for Communications is a portfolio of applications, which are industry-specific that capture and evaluate customer-interaction data from front & back-office operations. It assists service providers to better understand their users’ distinct buying behaviours & preferences so that providers can instantly introduce compelling new offers & products, deliver better service, and boost sales.
Oct-2020: Adobe introduced the latest features in Advertising Cloud DSP. The previous features were replaced with upgraded pages, accessible from the Help link in the DSP main menu. The early Campaigns Beta views become the default Campaigns views for instant insights, streamlined workflows, and personalized views.
Aug-2020: Zendesk unveiled Explore Enterprise, the newest solution within its service-first CRM platform. This platform helps organizations to evaluate real-time data to understand changing requirements. Through Explore Enterprise, Zendesk provides enterprises with the capability to evaluate data to have a clear vision of user trends they are seeing over their Support and Sales Suites.
Apr-2020: Hyland unveiled OnBase Foundation Enhancement Pack 3 (EP3) and Content Composer Foundation EP1. This launch is delivered on the company’s modernization strategy to offer customers the most feature-rich, safer and advance products.
Jan-2020: Adobe launched Adobe Experience Manager as a Cloud Service, part of Adobe Experience Cloud. It is the most advanced cloud-native solution for digital experience management combine with rich out-of-box offering and content customization options, which marketers & developers demand, integrated with SaaS-like agility.
Scope of the Study
Market Segments covered in the Report:
By Organization Size
• Large Enterprises
• Small & Medium Enterprises
By Deployment Mode
By End User
• IT & Telecom
• Retail & eCommerce
• Energy & Utilities
• Government & Defense
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Adobe, Inc.
• Oracle Corporation
• Capgemini SE
• Newgen Software Technologies Limited
• OpenText Corporation
• Zendesk, Inc.
• Hyland Software, Inc.
• Quadient SA
• PLDT, Inc. (Smart Communications, Inc.)
• ISIS Papyrus Europe AG
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