The customer communications management global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Customer Communications Management Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The customer communications management market size has grown rapidly in recent years. It will grow from $1.47 billion in 2023 to $1.63 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to adoption of multichannel communication strategies, growth in customer-centric business models, emphasis on regulatory compliance in communications, advances in digital and personalized marketing, increase in customer experience optimization.
The customer communications management market size is expected to see rapid growth in the next few years. It will grow to $2.52 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to expansion of omnichannel customer engagement, increased demand for interactive and dynamic content, emphasis on privacy and data security in customer communications, growth in cloud-based customer communications management solutions. Major trends in the forecast period include personalization and hyperpersonalization in customer communications, integration with customer relationship management (crm) systems, rise of conversational and chatbot-based communications, adoption of rich media and interactive documents, shift towards automated and self-service customer communications.
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Scope Of Customer Communications Management Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
An increase in smartphone penetration across the globe is driving the growth of the customer communication management market. Smartphone penetration refers to the quantity of active mobile phone subscriptions compared to the overall market for mobile phones. Smartphones are used to manage customer communications across a wide range of media, such as queries via live chat, dropping a feature request via email, SMS/MMS, responsive design mobile experiences, and in-app notifications. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, mobile connections in the UK reached 71.8 million, showing a 3.8% increase from the previous year, totaling approximately 2.6 million additional connections. Furthermore, it is projected that the UK’s population will expand to 68.3 million by 2025, with an estimated 95% of the population, or around 65 million individuals, owning a smartphone . Therefore, an increase in smartphone penetration is expected to propel market growth over the coming years.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The customer communications management market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Organization Size: Large Enterprises, Small And Medium Enterprises
4) By Vertical: IT And Telecom, Retail And eCommerce, BFSI, Healthcare, Travel And Hospitality, Government, Utilities, Other Verticals
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Regional Insights –
North America was the largest region in the customer communications management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the customer communications management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the customer communications management market report are Adobe Inc., Capgemini SE, CEDAR CX Technologies, Open Text Corporation, Sefas Innovation Inc., ABBYY Solutions Ltd., Avaya LLC., BCC Software LLC., Broadridge Financial Solutions Inc., Cincom Systems, Cognizant Technology Solutions Pvt Ltd., Crawford Technologies Inc., Dell Technologies Inc., Doxee S. p. A., Exela Technologies Inc., GMC Software AG, Hewlett Packard Enterprise Development LP, Kofax Inc., Messagepoint Inc., Newgen Software Technologies Limited, Hyland Software Inc., Objectif Lune Inc., OneSpan Inc., Oracle Corporation, Pitney Bowes Inc., The Ricoh Company Ltd., Xerox Corporation., Zoho Corporation.
Table of Contents
1. Executive Summary
2. Customer Communications Management Market Report Structure
3. Customer Communications Management Market Trends And Strategies
4. Customer Communications Management Market – Macro Economic Scenario
5. Global Customer Communications Management Market Size and Growth
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31. Global Customer Communications Management Market Competitive Benchmarking
32. Global Customer Communications Management Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Customer Communications Management Market
34. Customer Communications Management Market Future Outlook and Potential Analysis
35. Appendix
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