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U.S. Customer Communication Management (CCM) Market: Increasing Demand for On-demand and Interactive Solutions to Boost Growth

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 Transparency Market Research (TMR) in a new study. In addition, the market is reeling under the availability of substitutes, which makes sustenance of market share difficult key players.

By the end of 2016, the U.S. customer communication management market was worth an estimated US$423.1 mn. Exhibiting a CAGR of 11% between 2017 and 2025, the market is forecast to reach US$1.06 bn by the end of 2025.

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Customer Communication Management (CCM) Market: Snapshot

Customer communications management (CCM) is described as an advanced derivative of enterprise content management (ECM) technology. The customer communication management software is developed from the convergence of output management technologies and document composition & generation.  A CCM software allows customer interactions through a wide range of communication channels such as email, mobile, web-pages, SMS, print and customer self-services. Customer communications management system automates and simplifies document-related business procedures in order to increase the business performance and efficiency.

The rising adoption of CCM solutions by enterprises in the U.S. is a chief driver of the CCM market. As the CCM software enables organizations to manage communications across all distribution channels more efficiently, they are able to connect with their clients easily and forge more profitable relationships with customers. At present, the CCM market is expanding at a high rate due to new technological developments in the field of customer relationship management across the industries. In addition, the market is gaining from the increasing emphasis on context-rich information, multifarious communication channels, and multi-channel output.

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U.S. Customer Communication Management Market: Key Segments

Based on the solution type, the market is further divided into the software suite, managed CCM services, and others services including consulting, integration, and maintenance. Based on the enterprise size, the U.S. customer communication management market is categorized into large enterprises, and small & medium enterprises (SMEs). On the basis of deployment model, the market is segmented into cloud-based and on premise. Furthermore, the end-use industry based segmentation includes healthcare, banking financial services & insurance (BFSI), IT & telecom, e-commerce & retail, hospitality & travel, government & utilities, and others such as education, and entertainment & media. The report includes a comprehensive analysis of all segments under the market attractiveness analysis section.

IT &Telecom to Continue Dominating Market as Leading End-use Industry

Furthermore, in terms of end-use industry, the market is classified into healthcare, BFSI, IT & telecom, e-commerce & retail, hospitality & travel, government & utilities and others such as education, entertainment and media. Among these industries, BFSI and healthcare segments are estimated to showcase increasing demand for customer communication management in the forecast period. However, over the course of the forecast period, the IT & Telecom segment is forecast to remain dominant. The rising proliferation of IT solutions across enterprises in the U.S., and the increasing demand for innovative communication technologies will fuel the uptake of customer communication management solutions across the U.S. IT sector. This will in turn give impetus to the customer communication management market in the U.S.
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