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Allied Market Research

Customer Communication Management Software Market by Offering (Software Suite, Managed CCM Services, and Others), Deployment Model (Cloud and On-Premise), and End User (Healthcare, BFSI, IT & Telecom, Retail, Government, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

A07816
Pages: NA
Dec 2020 | 90 Views
 
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Customer Communication Management Software Market Insights and COVID-19 Analysis:

The customer communication management (CCM) software market is expected to witness a significant growth during the forecast period, owing rise in customer queries in various industry verticals. Presently, the most important thing for any business to succeed in the competitive market is to connect with their customers for which customer communication management software plays a big role. This software enables organizations to centralize analog and digital communication of customers across a variety of channels. CCM software includes emails, printed documents, attachments to the PDF, interactive documents, SMS text messages, etc. and many more. Moreover, it helps to create, deliver, store, and retrieve various critical documents. CCM software also helps companies to simplify their business procedures, retain loyal customers and generate higher rate of interest (ROI) by having a better communication on all platforms such as postal mails, emails, social media, SMS or text messaging, and phone calls. CCM software also helps in structured communications such as sending offers, bills, and account statements, which ultimately improves business efficiency and in turn, fuels the market growth.

Market scope and structure analysis:

        Report Metric

                                             Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value ($)

  Segments covered

  Offering, Deployment Model, End User, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and Middle East & Africa

  Companies Covered

Major players include: EMC Corporation, Adobe Systems Inc., Open Text Corporation, Oracle Corporation, Xerox Corporation, Crawford Technologies, Hewlett Packard Enterprise Development LLC, Lexmark International, Inc., and Newgen Software Technologies Limited, GMC Software, and Pitney Bowes Inc.

COVID-19 scenario analysis:

  • To encourage social distancing and stop the spread of COVID-19, all businesses are shut down and there is lack of communication between customers and companies. Thus, many customers and end users are facing various problems to resolve any issue or complaint, owing to which the adoption of CCM is expected to increase. In addition, CCM software is also expected to help companies to structure documents manage other tasks such as sending offers, bills, and account statements without the need of workforce.
  • Companies adopt for CCM software, owing to the above mentioned benefits which, is expected to drive the market growth in the future.
  • Overall, the corona virus will have a positive impact on the growth of the CCM software market.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis:

Rise in demand for automating and simplifying business procedures among various end users are the major factors that drive growth of the market. Moreover, rise in adoption of CCM software by companies to reduce operational costs fuels the market growth. However, data security and privacy concerns hamper the market growth. Furthermore, growth in adoption of technologies such as cloud solutions, growth of social media analytics, and increase in smartphone penetration across the globe are expected to provide lucrative opportunities for the customer communication software market. 

The market trends for customer communication software management market are as follows: 

Asia-Pacific expected to lead the market:

Asia-pacific has witnessed a huge growth in CCM software solutions, owing to presence of prominent players in the market and emerging economies such as India and China. Enterprises are widely adopting CCM software to reach to maximum customers and retain them. 

Adoption of cloud-based solutions:

On the basis of deployment model, it is categorized into two models cloud and on-premises. On-premises models are widely used in industry verticals like BFSI, government, healthcare to secure the sensitive data, financial statements, account statements and others. On-premises model is used where companies need to protect user credentials as this type of model helps companies to control their IT infrastructure, which boosts the market growth.

Key segments covered:

            Segments

                                  Subsegments

  Offering

  1. Software Suite
  2. Managed CCM Services
  1. Others

  Deployment Model

  1. Cloud
  2. On-premise

  End User

  1. Healthcare
  2. BFSI
  3. IT & Telecom
  4. Retail
  5. Government
  6. Others.

 

Key benefits of the report:

  • This study presents analytical depiction of the global customer communication management software market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global customer communication management software market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed market analysis based on the present and future competitive intensity of the market.
 
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