By the end of 2025, the U.S. customer communication management market is forecasted to reach US$1.06 bn.
In order to study the various trends and patterns prevailing in the overall market for Customer Communication Management (CCM), Market Research HUB has included a new report titled “Customer Communication Management (CCM) Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the US market in the near future.
The U.S. over the years has remained one of the early adopters of the latest technologies. On account of this, the demand for customized communication solutions is considerably high, rendering the U.S.
customer communication management (CCM) market highly competitive. As the existing retailers enjoy a strong presence, the market doesn’t provide much scope for the entry of new players, finds MRRSEin a new study.
In addition, the market is reeling under the availability of substitutes, which makes sustenance of market share difficult key players.
“Considering the scenario, the leading CCM vendors are focusing on offering diverse customized solutions by developing and integrated CCM software with cloud environment,” said a lead MRRSE analyst. the presence of several large companies has exacerbated the prevailing competition.
Currently, companies such as HP Enterprises, Pitney Bowes Inc., OpenText Corp., and Adobe Systems Incorporated hold strong position in the U.S. customer communication management market.
Together these companies held the dominant share of 30.6% in the U.S. CCM market in 2016.
Furthermore, Oracle Corporation, EMC Corp. (Dell), and Cincom Systems, Inc., are among the other prominent vendors in the U.S.
CCM market. According to MRRSE, the U.S. CCM market stood at US$423.1 mn in 2016.
Rising at a CAGR of 11% between 2017 and 2025, the market is forecast to reach US$1.06 bn by the end of 2025. Among various solutions available in the market, software suite held the dominant share of 46.9% in the overall market in 2016.
By end use, the IT & Telecom emerged as the lead holding over 20.5% of the market in the same year. The aforementioned segments are also expected to remain dominant through the course of the forecast period.
Demand for Multifarious Communication Channels to Drive Growth
Customer communication has become more dynamic with the advent of ground-breaking communication channels. These innovations over the last few years and knowledge about benefits they offer have brought organizations to their feet.
They are now keener on multifarious communication channels to establish their presence across diverse platforms as these technologies have empowered them to connect with customers in any corner of the world. Consequently, the demand for customer communication management is accelerated and the trend is less likely to slow down any time soon.
It is important to note that the U.S. is a relatively mature market. The enterprises operating from this nation are therefore more interested in batch, interactive and on-demand communication solutions.
This is further triggered by the rising demand for solutions that will help organizations acquire, serve, and grow customer relationship. As on-demand CCM systems support non-linear development model, they help organizations rationalize messy application platforms.
This is one of the key factors driving the customer communication management market in the U.S. In addition, the rising emphasis on context-rich information and multi-channel output will impel companies invest more in advanced customer communication management solutions.
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On the flip side, security concerns related to CCM software could act against the market in the near future. Sectors such as BFSI, government, healthcare, and retail require robust customer interaction platform.
While CCM software caters to the requirement, it is yet to eliminate a few inherent security concerns that comes with the technology. This could hinder the market’s trajectory to an extent.
Nevertheless, the evolution of the CCM software technology to cloud will facilitate the deployment of communication software without much complexity or incurring huge expense. “The evolution of cloud-based environment will enable customer communication management software to cater to small, medium, as well as large enterprises,” observed the MRRSE report’s author.
This will open lucrative opportunities for the market’s growth in the near future.
The report also includes competitive profiling of the key players associated with the U.S. customer communication management market.
The important business strategies adopted by them, their market positioning, financials, SWOT analysis, and recent developments have also been identified in the research report. The competitive landscape section of the report also gives an overview about the major contributing regions/countries by these key players in order to strengthen their market position in the future.
The report also provides market share analysis of the U.S. customer communication management market.
Adobe systems, Inc., Cincom Systems, Inc., Doxee S.p.A., Emc Corporation (Dell), HP enterprise, Newgen Software, OpenText Corp., Oracle Corporation, Pitney Bowes, Inc., and Xerox Corporation, are the key players which have been profiled in this study. Details such as financials, business strategies, SWOT analysis, recent developments, and other such strategic information pertaining to these players has been duly provided as part of company profiling.
The U.S. Customer Communication Management Market has been segmented as follows:
The U.S. Customer Communication Management Market, by Solution
- Software Suite
- Managed CCM Services
- Other Services (Consulting, Integration, and Maintenance)
The U.S. Customer Communication Management Market, by Enterprise Size
- Large Enterprises
- Small and Medium Enterprises (SMEs)
The U.S. Customer Communication Management Market, by Deployment
The U.S. Customer Communication Management Market, by End-use Industry
- IT and Telecom
- E-commerce and Retail
- Hospitality and Travel
- Government and Utilities
- Others (Education, Entertainment and Media)
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