Customer communication management software assists companies in managing customer communication needs of clients across a range of media. It manages inbound and outbound communications with customers. The global customer communication management software market report by Market Research Future (MRFR) covers numerous drivers and challenges for the period of 2019 to 2025 (forecast period). The COVID-19 pandemic and other hurdles to growth are highlighted and explained fully in the report.
Market Scope
The global customer communication management software market is expected to register a CAGR of 11.2% during the assessment period. Massive demand for customer experience management and functions of multimedia marketing are expected to drive the market. Various organizations are focusing their efforts on diverse communication channels for expanding their reach among customers. Furthermore, rapid response to general queries and importance of social media in the age of digitization can favor the market.
The focus on customer-driven content and maintenance of brand image owing to penetration of smartphone and tablet use can bode well for the market. Formulation of new policies on outbound communications and responsive design of communication mediums can shape the market in the coming years. Recently, WhatsApp, a popular mobile messaging application has decided to launch chatbots for customer as a medium for businesses to target multiple customers simultaneously. Instant responses and AI can lower the resolution period for complaints and build relationships.
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However, the lack of knowledge of customer management solution software can hamper the market growth.
Segmentation
By component, the market has been segmented into solution and service. The service segment has been further segmented into professional services and managed services. Between the two, the solution segment is touted to gain a large market share during the forecast period owing to adoption of email marketing, SMS communication, printer management, data extraction, and others.
By deployment mode, the market has been segmented into cloud-based and on-premise. The cloud-based segment is set to gain a large market share over the assessment period due to scalability and flexibility of cloud. Low deployment and ownership costs can drive the segment growth.
By organization size, the market has been divided into large enterprises and small and medium enterprises. The former can sustain its large share of the global customer communication management market, while the latter can display a strong growth rate till 2025.
By vertical, the market has been segmented into media & entertainment, travel & hospitality, BFSI, IT & telecom, healthcare, and others. The BFSI vertical is likely to dominate the global CCM market due to enhanced customer interaction and addition of value-added services to the portfolio.
Regional Analysis
North America is expected to dominate the market with the largest share during the forecast period owing to the presence of key market players such as Adobe, OpenText, and others. Deliverance of information rapidly to customers and penetration of cloud can influence the market demand significantly over the forecast period.
The APAC is expected to advance at the highest CAGR during the forecast period due to the growing utilization of technologies for customer relationship management and social media in the region. Appointment of brand managers for prioritizing customers and measuring CCM performance can drive the market demand significantly.
Competitive Outlook
Newgen Software Technologies Limited, Oracle Corporation, Pitney Bowes Inc, Open Text Corporation, Lexmark International, Inc., Xerox Corporation, Ecrion, Inc, SmartComms SC, Striata, Adobe, Inc., Crawford Technologies, Zoho Corporation, Hewlett Packard Enterprise Development LLC, EMC Corporation, and GMC Software are key players of the global customer communication management market.
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