The customer communications management market size is projected to record a CAGR of 10.2% during the forecast period. The customer communications management market is projected to be valued at USD 1,542.7 million in 2023 and is anticipated to reach USD 4,086.9 million by 2033.
Customer communications management (CCM) enables businesses to communicate with customers effectively across various channels, including:
CCM software is getting upgraded due to Artificial Intelligence (AI) and Advanced Natural Language Processing (NLP). The customer communication management software market is anticipated to grow as a multi-channel market. Customer experience management becomes advanced and the usage of mobility and analytics for customer communication management increases.
| Attribute | Details |
|---|---|
| Customer Communications Management Market CAGR (2023 to 2033) | 10.2% |
| Customer Communications Management Industry CAGR (2018 to 2022) | 8.1% |
| Customer Communications Management Industry Value (2022) | USD 1,420.5 million |
| Customer Communications Management Market Value (2023) | USD 1,542.7 million |
| Customer Communications Management Industry Value (2033) | USD 4,086.9 million |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The increasing demand for customer communication management systems is one of the primary factors driving the customer communication management market. To maintain a strong customer connection, businesses must give necessary documentation and promotional offers to customers regularly. As a result, the sales of customer communication management systems are anticipated to grow significantly during the forecast period.
The global demand for customer communication management systems is predicted to grow as customers in this technology-driven world want to communicate with businesses via their preferred channels, such as:
Companies are encouraging client interactions across these many channels to stay competitive, which is further boosting the sales of customer communication management systems.
The demand for customer communication management systems is constantly growing, allowing software applications to be deployed without the hassle and expense of managing and obtaining the underlying software and hardware layers.
SMEs are emphasizing improved client interactions to add value to their goods, which, in turn, is propelling the sales of customer communication management systems.
The demand for customer communication management systems is projected to rise as it utilizes cloud-based environments to serve both large and small businesses. As a result, businesses are expected to migrate to a cloud environment to increase communication system flexibility. This is a key factor propelling the sales of customer communication management systems and the overall customer communication management market.
The demand for a customer communication management system offering a seamless CX may get hampered by the fact that these many channels remain in silos, preventing an organization from providing an Omni channel experience to customers.
Customers can choose between several channels without having to worry about losing knowledge or having to repeat what they already know. Over the course of the forecast period, several organizations migrating to Omni channels are expected to be multifold. As a result, the sales of customer communication management system is projected to rise throughout the forecast period.
From 2018 to 2022, the market expanded at a CAGR of 8.1%. In 2018, the market reached USD 1,038.3 million, and in 2022, the market witnessed a revenue generation of USD 1,420.5 million.
The demand for customer communication management systems is growing significantly. It is due to almost all financial institutions and other sectors have invested in customer communications management (CCM) systems in the last ten years to better manage their client contacts.
Organizations are finding it challenging to manage many digital clients and create a real multi-channel customer journey with old CCM platforms as new communication channels emerge. This factor is projected to affect the sales of customer communication management systems during the forecast period.
Organizations require a CCM capability that can do more than just get work done fast. It must be able to adapt, scale, and evolve quickly to meet the demands of the digital customer.
The demand for customer communication management systems spiked as organizations want communications that are consistent across numerous channels from a single source, as well as content that adjusts to the context of the customer.
In the estimated period, the market is predicted to register CAGR of 10.2%. In 2023, the market gained revenue of USD 1,542.7 million and by 2033, the market is forecasted to attain USD 4,086.9 million.
Principal Consultant
The BFSI sector accounted for the majority of the customer communication management market share in 2022. The BFSI segment is anticipated to dominate the customer communication management market during the forecast period. This is mostly due to the need to capitalize on market opportunities across many geographies.
Outsourcing service benefits the BFSI sector since it lowers operational costs and improves customer service, allowing enterprises in this area to focus on their primary business.
| Segment | On-premise |
|---|---|
| Market Share (2022) | 63.2% |
In 2022, the on-premise deployment segment held a significant share of the customer communication management market. This segment expanded at a CAGR of 9.2%. The value share accumulated by the segment was 63.2% in 2022.
On-premises deployment is frequently utilized in industries such as banking, finance, and insurance, as well as government and defense, to secure
The typical method of deploying CCM solutions across businesses is on-premise deployment. This deployment mode is opted for by enterprises whose user credentials are critical for business operations. This is because it gives them much control over their IT systems.
The cloud deployment segment is predicted to increase at an exponential rate during the forecast period due to the increasing acceptance of cloud-based solutions.
| Regions/ Countries | Value Share (2022) |
|---|---|
| North America | 26.5% |
| Europe | 23.4% |
| The United States | 18.2% |
| Germany | 7.3% |
| Japan | 5.1% |
| Australia | 2.4% |
North America is likely to hold a significant share of the global customer communication management market with a CAGR of 9.8%. It is due to different prominent businesses in the industry like Open Text Corporation, Adobe, and others in the region.
The customer communication management market opportunity is growing due to the increased usage of technologies like social media and mobility for customer relationship management in these countries.
| Countries | CAGR (2023 to 2033) |
|---|---|
| China | 9.8% |
| India | 11.2% |
| The United Kingdom | 9.1% |
Customer communication management projects are becoming increasingly popular in Asia Pacific countries. China, Japan, India, and the rest of Asia Pacific are the sub-segments of the CCM market in Asia Pacific. These countries are key contributors to the region's customer communication management market expansion.
Organizations have increased their offers in the customer communication management market as internet penetration and per-user online consumption have increased. To compete in the market and seize additional chances, SMEs in the region have boosted their investment in new technologies. These technologies include AI, machine learning, and data analytics. For these companies, implementing CCM solutions has become feasible.
Organizations in the region's industrialized economies, such as Japan, Australia, New Zealand, and Singapore, have embraced cloud computing on a big scale. As cloud technology is employed as a data store for subsequent analysis, the customer communication management market is likely to increase as a result of its growing popularity.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Key players in the customer communication management market are concentrating their efforts on growing their consumer base in new countries. To improve their market share and profitability, these companies are relying on strategic collaborative initiatives.
Recent Developments in the Customer Communications Management Market
The market will expand at a 10.2% CAGR from 2023 to 2033.
The market in 2023 totals USD 1,542.7 million.
The segment held a market share of 63.2% in 2022.
By 2033, the market will reach USD 4,086.9 million.
Adobe, Oracle, and Capgemini are some key players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 5.1. Solutions 5.2. Services 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Mode 6.1. On-premises 6.2. Cloud 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Organization Size 7.1. Large Enterprises 7.2. SMEs 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Verticals 8.1. IT and Telecom 8.2. Retail and eCommerce 8.3. BFSI 8.4. Healthcare 8.5. Travel and Hospitality 8.6. Government 8.7. Utilities 8.8. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. South Asia 9.5. East Asia 9.6. Oceania 9.7. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. ADOBE 19.2. ORACLE 19.3. PITNEY BOWES 19.4. CAPGEMINI 19.5. NEWGEN SOFTWARE 19.6. Messagepoint Inc. 19.7. Topdown Inc. 19.8. Cincom Systems Inc. 19.9. Zoho Corporation 19.10. A Lexmark Company 20. Assumptions & Acronyms Used 21. Research Methodology
Technology
December 2022
REP-GB-1875
250 pages
Explore Technology Insights
View Reports
Customer Communications Management Market
