CHICAGO, April 30, 2021 /PRNewswire/ -- According to a new market research report "Customer Communications Management Market by Component (Solutions and Services), Deployment Type, Organization Size, Vertical (IT and Telecom, BFSI, Retail & eCommerce, Travel & Hospitality, Healthcare), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the CCM Market size to grow from USD 1.3 billion in 2021 to USD 2.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.2% during the forecast period.
The major growth drivers for the market include increasing adoption of CCM solutions and services in various verticals such as IT and telecom, retail and eCommerce, healthcare, BFSI, travel and hospitality, government, utilities, and other verticals.
By component, solution segment to hold the largest market size during the forecast period
The solution segment is expected to hold the largest market size during the forecast period. Enterprises deploy CCM solutions to provide customers highly connected personalized experiences across a wide range of websites, stores, call centers, mobile apps, social media, emails, virtual assistants, and other touchpoints. Enterprises are aware of the importance of each interaction, which carries customers' perception of products or brands. Solutions such as omnichannel, ML, analytics, and workforce optimization are the backbone of modern customer services, which offer brands and products a competitive edge.
By vertical, IT and telecom segment to grow at a higher CAGR during the forecast period
CCM Market is segmented into IT and telecom, retail and eCommerce, BFSI, travel and hospitality, healthcare, government, utilities, and other verticals. CCM solutions help simplify IT infrastructure through a single, comprehensive solution for batch automation and interactive communications generation. In this way, companies can utilize data while creating documents. This enables them to create valuable content and contribute directly to objectives of their customer experience strategy. Therefore, telecommunications and IT companies have started investing in CCM solutions that would help them deliver high-quality services to their customers.
North America to hold the largest market size during the forecast period
North America, a technologically advanced region with a high number of early adopters and the presence of major market players, is expected to contribute the highest market share in terms of revenues during the forecast period. North America has fairly adopted the latest instruments in customer data analytics and real-time reporting. Besides, it is incorporating advanced technologies, thus making organizations in the US and Canada excel in the CCM Market. Currently, enterprises in North America are adopting CCM solutions, indicating a significant acceptance of these solutions and services. Organizations in North America are opting for various digital channels, including web portals, social media, call centers, and mobile phones, to collect customer feedback data. This region would remain the highest contributor, in terms of revenue generation, to the CCM Market.
Major vendors in the global Customer Communications Management Market include Adobe (US), Oracle (US), OpenText (US), Zendesk (US), Newgen Software (India), Capgemini (France), Quadient (France), Smart Communications (England), Sefas (France), CEDAR CX Technologies (US), Messagepoint (Canada), Doxim (Canada), Topdown (US), Napersoft (US), Ecrion (US), Doxee (Italy), Papyrus Software (Austria), Hyland (US), Bitrix24 (US), Braze (US), HelpCrunch (US), AdventSys (India), Front (US), Trengo (Netherlands), Podium (US), Pitney Bowes (US).
Customer Experience Management Market by Component (Solutions, Services) Touchpoint, Deployment Type, Organization Size, Vertical (IT and Telecom, BFSI, Retail, Healthcare, Media and Entertainment), and Region - Global Forecast to 2025
Customer Engagement Solutions Market by Component (Solutions, Services), Deployment Type (Cloud, On-premises), Organization Size, Vertical (BFSI, Telecommunication, Consumer Goods & Retail), and Region - Global Forecast to 2023
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