Impact Analysis of Covid-19

The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Insight- U.S. Customer Communication Management Market

Market Overview

Customer communications management (CCM) is a type of software that enables organizations for the management of customer communications across a variety of media. It includes email, printed documents, text messages, and web pages. In layman’s terms, customer communications management is described as an advanced derivative of enterprise content management (ECM) technology. CCM includes an automated process to deliver communication and to provide segmentation of messages as per different customer profiles and contexts. Customer communication management technology consists of various components including data extraction, transform & load software, data hygiene database software, document composition software, portal technology, email marketing software, printer management software, envelop inserter machine, etc. 

The U.S. customer communication management market was estimated to account for US$ 573.4 Mn in terms of in 2019 and is expected to grow at a CAGR of 11.0% during the forecast period (2019 – 2027).

Market Dynamics- Drivers

  1. Increasing focus on diverse and divergent communication channels is expected to drive growth of the U.S. customer communication market during the forecast period

Advent of novel and cutting-edge communication channels has made customer communication more and more dynamic. Currently, various organizations are focused on diverse and different communication channels, in order to reinforce their presence across various platforms. As a result of this, customers can be connected across the world. Moreover, growing demand for customer communication systems across the globe. The U.S. is a major adopter and innovator in terms of technology adoption and supporting infrastructure, the region acts as a lucrative market for CCM as well. Hence, these factors are expected to drive the U.S. customer communication management market growth during the forecast period. For instance, EMC Corporation facilitates organizations to enhance and achieve an enterprise-wide strategy to augment their customer experience by providing a multi-channel customer communication management system. Apart from this, CCM software also enables organizations to easily and independently create and manage documents and templates.

  1. Growing focus on context-enriched information and multi-channel output is expected to propel the U.S. customer communication management market growth over the forecast period

CCM service providers are focused on delivering high-quality information to their users. Increasing technological advancements and high penetration of cloud technologies across various industries are boosting the demand for context-enriched information through social analytics. Moreover, growing demand for personalization in customer communication is expected to boost growth of the market in the near future. Increasing developments in the market, in order to accomplish a customer-centric approach, is expected to provide multi-channel output across the industries related to customer requirements. Hence, these factors are expected to drive the U.S. customer communication management market growth over the forecast period.

Market Dynamics- Restraints

  1. Security concerns regarding data for CCM software are expected to restrain growth of the U.S. customer communication management during the forecast period

Documentation is an integral part of the businesses and verticals such as healthcare BFSI, retail, and other require robust customer verification platform. Although CCM software provides the most suitable platform there are certain security concerns involved. For instance, According to Kaspersky Lab AO 2015 white paper, BFSI was the leading vertical which was hampered by cybercrime prominently with 31.03% of the data. Data such as customer information, surveys, and strategies are vulnerable to cyber threats. Moreover, security issues lead to changes in CCM implementation settings. Data breaches are one of the major security concerns related to CCM software. Hence, these factors are expected to restrain the market growth in the near future.

  1. Lack of skilled professionals is expected to hamper the U.S. customer communication management market growth over the forecast period

Implementation of customer communication management software requires skilled personnel. Since the use of CCM is still in nascent stage, there is lack of availability of said workforce. Implementation and operating of CCM software require specific skill sets that are not available any software engineer. Hence, the lack of skilled personnel regarding CCM software is expected to hamper the U.S. customer communication management market during the forecast period.

Market Opportunities

  1. Integration of CCCM technology with the cloud is expected to provide major business opportunities

The cloud-based platform is constantly evolving, which provides the deployment of software applications without the complexity and cost of managing and acquiring the underlying software and hardware layers. Small and mid-sized enterprises are laying emphasis on enhanced customer interactions, in order to add value to their offerings. CCM software platform is expected to evolve in a cloud-based environment to cater to the large enterprises as well as SMEs. As a result of this, enterprises are expected to switch to cloud environment, in order to inculcate flexibility in a communication system.

  1. Increasing adopting of CCM software in BFSI sector to pose significant growth opportunities

Banking, financial services, and insurance (BFSI) sector is increasingly adopting customer communication management platforms. This is done to enhance customer interaction and add value to the service portfolio. Various private, as well as government financial institutions, are focused on incorporating CCM software, in order to reduce operating costs and enhance customer service so that the organizations can focus on their core business. This, in turn, is expected to provide major growth opportunities over the forecast period.

U.S. Customer Communication Management  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Increasing demand for customizable CCM solution

Customer communications management system simplifies and automates document-associated business procedures, in order to enhance business performance and efficiency. The demand for customized CCM solutions is increasingly rampant, as these solutions are designed to encounter the enterprise or departmental requirements. For instance, OpenText Exstream is a multichannel CCM solution, which has the capability to improve the customer experience with meaningful, relevant communications delivered through the customer's preferred channels such as email, web, SMS, and print. Apart from this, Exstream enables enterprises to produce fully customized high-volume bills & statements, on-demand marketing, and self-service web applications.

  1. Growing emphasis on automated on-demand content delivery with the use of natural language processing

Natural language processing (NLP) is one of the critical components of artificial intelligence, which enables computer to understand the human speech. There is an increasing demand for NLP integrated CCM software from various sectors, in order to leverage numerous benefits of NLP. NLP, integrated with CCM, providers various advantages such as automatic summarization, coreference solution, and discourse analysis. Key players in the market are focused on integrating NLP with CCM, in order to provide enhanced services.

Segment information:

In U.S. CCM market, by End-use Industry segment, On-premises sub segment dominated the global market in 2019, accounting for 20.2% share in terms of value

U.S. Customer Communication Management  | Coherent Market Insights

Source: Coherent Market Insights

Competitive Section

Key players operating in the U.S. customer communication management market are Newgen Software, Adobe Systems Inc., Xerox Corporation, Cincom Systems Inc., Pitney Bowes, Inc., Doxee S.p.A., Oracle Corporation, EMC Corporation (Dell), OpenText Corp., and HP Enterprise. 

Key Developments

  1. Key players in the market are focused on product launches, in order to expand their product portfolio. For instance, in January 2020, Newgen Software, a provider of low code automation platform managing content, launched OmniOMS 8.6- an enhanced version of customer communication management suite.
  2. Major companies in the market are involved in product launches, in order to enhance the market presence. For instance, in February 2019, Adobe Systems Inc. introduced ‘Adobe Experience Manager’, which is part of Adobe Marketing Cloud.

Customer communications management (CCM) is a type of software that enables organizations for the management of customer communications across a variety of media. It includes email, printed documents, text messages, and web pages. Customer communication management (CCM) enhances the creation, delivery, storage, and retrieval of outbound communications. This includes new product introductions, marketing, renewal notification, bill and payment notification, and claims correspondence and documentation. The CCM Software market has developed from the convergence of output management technologies and document composition & generation. Thus, the customer communication management market is expected to witness a paradigm shift in growth trends during the forecast period.

Market Dynamics

Advent of novel and cutting-edge communication channels has made customer communication more and more dynamic. Currently, various organizations are focused on diverse and different communication channels, in order to reinforce their presence across various platforms. As a result of this, customers can be connected across the world. Moreover, the growing focus on context-enriched information and multi-channel output. CCM service providers are focused on delivering high-quality information to their users. Increasing technological advancements and high penetration of cloud technologies across various industries are boosting the demand for context-enriched information through social analytics. Moreover, growing demand for personalization in customer communication is expected to boost growth of the market in the near future.

Market Taxonomy

This report segments the global customer communication management market on the basis of by solution, enterprise size, by deployment model, by end use industry, and region. On the basis of solution, the global customer communication management market is segmented into Software Suite, Managed CCM Services, and Other Services (Consulting, Integration and Maintenance). On the basis of deployment model, global customer communication management market is segmented into on-premises and cloud. On the basis of enterprise size, global customer communication management market is segmented into Large Enterprises and Small and Medium Enterprises. On the basis of end use industry, global customer communication management market is segmented into Healthcare, BFSI, IT & Telecom, E-commerce and Retail, Hospitality and Travels, Government & Utilities, and Others (Education, Entertainment, and Media).  On the basis of region, global customer communication management market is segmented into North America, Latin America, Europe, APAC, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global customer communication management market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global customer communication management market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global customer communication management market includes Newgen Software, Adobe Systems Inc., Xerox Corporation, Cincom Systems Inc., Pitney Bowes, Inc., Doxee S.p.A., Oracle Corporation, EMC Corporation (Dell), OpenText Corp., and HP Enterprise
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global customer communication management market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global customer communication management market.

Detailed Segmentation:

  1. Global Customer communication management Market, By Solution
  • Software Suite
  • Managed CCM Services
  • Other Services (Consulting, Integration, and Maintenance)
  1. Global Customer communication management Market ,By Enterprise Size
  • Large Enterprises
  • Small and Medium Enterprises
  1. Global Customer communication management Market ,By Deployment Model
  • On-premise
  • Cloud
  1. Global Customer communication management Market ,By End-Use Industry
  • Healthcare
  • BFSI
  • IT & Telecom
  • E-commerce and Retail
  • Hospitality and Travels
  • Government & Utilities
  • Others (Education, Entertainment, and Media)
  1. Global Customer communication management Market ,By Region
  • North America
  • Latin America
  • Europe
  • APAC
  • Middle East and Africa
  • Company Profiles
    • Newgen Software*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Adobe Systems Inc.
    • Xerox Corporation
    • Cincom Systems Inc.
    • Pitney Bowes, Inc.
    • Doxee S.p.A.
    • Oracle Corporation
    • EMC Corporation (Dell)
    • OpenText Corp.
    • HP Enterprise.

*Browse all the market data tables and figures on “Global Customer Communication Management Market - Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Solution
      • Market Snippet, By End Use Industry
      • Market Snippet, By Deployment Model
      • Market Snippet, By End-Use Industry
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Customer Communication Management Market, By Solution, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Software Suite
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Managed CCM Services
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Other Services (Consulting, Integration, and Maintenance)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Customer Communication Management Market, By Enterprise Size, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Large Enterprises
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Small and Medium Enterprises
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Customer Communication Management Market, By Deployment Model, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • On-premise
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Cloud
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  7. Global Customer Communication Management Market, By End-Use Industry, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Healthcare
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • BFSI
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • IT & Telecom
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • E-commerce and Retail
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Hospitality and Travels
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Government & Utilities
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  8. Global Customer Communication Management Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Solution, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Enterprise Size, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Deployment Model, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-Use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Solution, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Enterprise Size, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Deployment Model, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-Use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • APAC
      • Regional Trends
      • Market Size and Forecast, By Solution, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Enterprise Size, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Deployment Model, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-Use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Solution, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Enterprise Size, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Deployment Model, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-Use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Solution, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Enterprise Size, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Deployment Model, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-Use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  9. Competitive Landscape
    • Company Profiles
      • Newgen Software
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Adobe Systems Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Xerox Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Cincom Systems Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Pitney Bowes, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Doxee S.p.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Oracle Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • EMC Corporation (Dell)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • OpenText Corp.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • HP Enterprise.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “Global Customer Communication Management Market-forecast to 2027”.

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