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.
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 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 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.
Customer Communication Management Software Market Report Highlights
By Enterprise Size
By Deployment Model
By End User
Key Market Players
Pitney Bowes Inc., Adobe Systems Inc., Hewlett Packard Enterprise Development LLC, Newgen Software Technologies Limited, GMC Software, EMC Corporation, Oracle Corporation, Crawford Technologies, Open Text Corporation, Xerox Corporation, Lexmark International, Inc.