Customer Communications Management Software Market Estimated to Accumulate more than (Revenues ) by 2024

Customer communications management (CCM) is defined as a strategy which supports in improving outbound and interactive communications. The CCM software improves the creation, delivery, storage and retrieval of outbound and interactive communications. CCM software supports an organization in composing, personalizing, formatting and delivering content acquired from various sources such as websites into electronic and physical communications between the organization and its customers. The software also facilitates in delivering target communications through a wide range of media such as email, mobile, SMS, social media sites and print media.

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The components of CCM solutions include data extraction, document composition, printer management, email marketing, SMS communication, data analysis and portal technology. The data extraction software offers the organizations to combine data from multiple sources and analyze it to gain insights about individual customers. The insights support the organization in evaluating their marketing mix and creation of personalized promotional programs for customers. The document composition engine produces a print stream or XML data to facilitate creation of documents which can be printed or distributed electronically. The print management software manages the routing and distribution of print jobs to a single printer or a series of connected printers.

The CCM solutions support in creating personalized and interactive communications with customers by automating the process of content creation and delivery of the content. The personalized documents facilitate in creating an impact on the minds of customers, thus increasing customer retention for the organization. The CCM solutions also reduce overall costs of producing documents and correspondence. Thus, CCM software is gaining increasing demand from small and medium sized enterprises (SMEs). Furthermore, it supports the organization in following regulations pertaining to customer privacy. Growth of social media and smartphone adoption in coming years is expected to create ample opportunities for the CCM market as the organizations could target the customers based on their preferences.

CCM software market is broadly segmented on the basis of delivery model, industry vertical, organization size and geography. On the basis of delivery model, the CCM software market is segmented into standalone solution and integrated solution. On the basis of industry vertical, the CCM software market is segmented into BFSI, manufacturing, healthcare, government and others. On the basis of organization size, the market is segmented into large enterprises and SMEs. Moreover, in terms of geographies, the global CCM software market is segmented into North America; Europe; Asia Pacific; Middle East & Africa (MEA); and Latin America. North America and Europe are the leading regions in terms of adoption of CCM software due to the presence of huge tech-savvy population across the region. CCM software market in Asia Pacific is anticipated to grow significantly during the coming years due to significant growth in digitalization across sectors such as BFSI, manufacturing and government.

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The major participants of the CCM software market include EMC Corporation, Adobe Systems Inc., Open Text Corporation, Oracle Corporation, Xerox Corporation, Crawford Technologies, Hewlett Packard Enterprise Development LLC, Lexmark International, Inc., and Newgen Software Technologies Limited, GMC Software and Pitney Bowes Inc.

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