The customer communications management market size is projected to reach US$ 3.80 billion by 2031 from US$ 1.53 billion in 2023. The market is expected to register a CAGR of 12.1% during 2023–2031. Customer communication management (CCM) solutions maintain customer engagement through omnichannel are likely to remain key trends and drivers in the market.
The customer communications management market is experiencing significant growth. This growth is attributed to customer communications management solutions, maintaining customer engagement through omnichannel and increasing usage of analytical and mobility for customer communication management.
Communications, such as a bill from the utility company or a credit card statement from the bank, seem simple. In reality, they are complex to design and deliver. It has several features, such as customer data from a customer relationship management (CRM) system, marketing messages from a marketing platform, financial information from an enterprise resource planning (ERP) system, brand assets from a digital asset management platform (DAM), terms and conditions from a legal system and more.
Data analytics is the process of collecting, processing, and analyzing data to generate insights and inform decisions. Data analytics can provide effective ways to communicate and interact with customers who have limited mobility. These ways include creating content and interfaces that are accessible and usable, personalizing and customizing products and services based on customer data, representing customers with limited mobility in marketing campaigns, and building trust and empathy with them. Thus, increasing usage of analytics and mobility for customer communication management is driving the customer communication management market.
In recent years, a result of technological advancements and changing customer expectations and business needs have changed (Communications-as-a-Service) CaaS. The competitive landscape is promptly consolidating as traditional service providers become more technologically driven. A key driver behind the evolution from CCM to Customer Experience Management (CXM) has been the shift from on-premise software installation to cloud-based solutions. The cloud-based CCM software offers various advantages, such as
Key segments that contributed to the derivation of the Customer Communications Management market analysis are component, deployment, enterprise size, and industry.
The geographic scope of the customer communications management market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the customer communications management market. High technology adoption trends in various industries in the North American region have fuelled the growth of the customer communications management market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American customer communications management market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of customer communications management market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the customer communications management market.
The regional trends and factors influencing the Customer Communications Management Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Customer Communications Management Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.53 Billion |
| Market Size by 2031 | US$ 3.80 Billion |
| Global CAGR (2023 - 2031) | 12.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Customer Communications Management Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Customer Communications Management Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The customer communications management market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the customer communications management market are listed below:
The “Customer Communications Management Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The global customer communications management market is expected to reach US$ 3.80 billion by 2031.
The expected CAGR of the customer communications management market is 12.1%.
The key players holding majority shares in the global customer communications management market are Adobe, Capgemini, Crawford Technologies, Smart Communications, Cedar CX Technologies, Newgen Software Technologies Limited, Open Text Corporation, Oracle, Messagepoint, and Doxim Inc.
Technological advancement in natural language processing for better customer experience is anticipated to drive the market in the forecast period.
Customer communication management (CCM) solutions maintain customer engagement through omnichannel are some of the factors driving the customer communications management market.
North America is anticipated to dominate the customer communications management market in 2023.