Customer Communications Management Market Size, Share and Global Market Forecast to 2028
Customer Communications Management Market
The Customer Communications Management Market is predicted to reach 2,354 million by 2028, exhibiting a CAGR of 11.2% over the forecast period (2021-2028).
The factors driving the growth of Customer Communications Management Market includes increasing number of customer queries in different industries such as E-commerce, healthcare, Telecom and travel and hospitality and the growing emphasis on customer retention and improving channels of communications such as SMS, and social media, mail, and voice. As per the report published by Bain & Company, the companies who focusses on providing superior customer services, can grow their revenue by 4%–8%, above their existing market growth, which is expected to boost the demand for customer communications management systems in the approaching years. Moreover, the advent of Artificial Intelligence and advanced natural language processing software and increasing number of online shopping around the world, are some of the additional factors, supplementing the Global Customer Communications Management Market.
However, the growth of Customer Communications Management Market is hindered due to data security and privacy concerns.
The major players operating in the market are Smart Communications, Sefas Innovation, Inc., Adobe, Oracle, Open Text Corporation, CEDAR CX Technologies, Capgemini, Quadient, Zendesk and Newgen Software Technologies Limited among others.
Component – Segment Analysis
Based on Component, the Solutions segment is anticipated to capture sizeable market share over the forecast period due to increasing adoption of Customer Communication Management Software by enterprises which offers personalized experience to customers across social media, virtual assistants, and mobile applications.
Vertical – Segment Analysis
Based on Vertical, the IT & Telecom segment is projected to expand at significant CAGR during the forecast period attributed to increasing investments by IT Companies on Customer Communication Management platforms.
Regional – Segment Analysis
Based on region, the Asia-Pacific region is predicted to capture the largest market share over the forecast period. The increasing number of internet users, rise in spending on Artificial Intelligence, data analytics tools and Internet of Things by private players and adoption of cloud-based solutions, are some of the important factors supplementing the Customer Communications Management Market size in the Asia Pacific region.
Market Segmentation
Global Customer Communications Management Market by Component
Solution
Services
Global Customer Communications Management Market by Deployment Mode
On-premises
Cloud
Global Customer Communications Management Market by Organization Size
Large Enterprises
Small & Medium Enterprises
Global Customer Communications Management Market by Vertical
IT and Telecom
Retail and eCommerce
BFSI
Healthcare
Travel and Hospitality
Government
Utilities
Others
Global Customer Communications Management Market by Region
Asia PacificChina
Japan
India
Rest of APAC
North AmericaUnited States of America
Canada
EuropeUnited Kingdom
Germany
France
Spain
Rest of Europe
RoWBrazil
South Africa
Saudi Arabia
UAE
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