U.S. CUSTOMER COMMUNICATION MANAGEMENT MARKET ANALYSIS

U.S. Customer Communication Management Market size was valued at US$ 765.2 Mn in 2022, exhibiting a compound annual growth rate (CAGR) of 12.6% from 2023 to 2030.

Customer communication management is a software service that allows companies to manage customer communication across a wide range of media like print, social media platforms, company websites, etc. Over the course of time this service has evolved to incorporate communication channels like SMS, E-mails, in-app communications, etc. Customer communications management (CCM) is a kind of enterprise content management (ECM) technology. CCM has an automated approach for communication delivery and message segmentation based on various consumer profiles and situations. CCM can be provided under SaaS (Software as a Service) category. Data extraction, transform & load software, data hygiene database software, document composition software, portal technology, email marketing software, printer management software, envelope inserter machines, etc. are just a few of the components that make up customer communication management technology. Customer communication management can be correlated with the concept of Customer relationship management (CRM) where the organizations make use of effective communication tools to ensure satisfaction of the customers.

U.S. Customer Communication Management Market- Segmentation

The U.S. Customer Communication Management market is classified into following segments based on solution, enterprise size, deployment type, end-use industry.

Based on deployment type, the cloud segment holds a dominant position over other on-premises segment. Cloud computing refers to the on-demand availability of computer services without the need to store the files on the personal devices of the users. This allows the users to access the customer communication management services without worrying about the challenge of storing the files. As cloud computing technology is evolving, more and more business activities are coming under its scope leading to the development off cloud infrastructure in the organizations across the world. The convenience provided by the cloud computing services would lead to the increase in adoption of the segment in the US customer communication management market and ensure that the segment holds a strong position in the market during the forecast period.

Figure 1. U.S. Customer Communication Management Market Share (%) Analysis and Forecast, By Deployment Model, 2022

To learn more about this report, request sample copy

U.S. Customer Communication Management market was valued at US$ 765.2 Million in 2022 and is expected to reach US$ 1,958 Million by 2030, exhibiting a CAGR of 12.6% between 2023 and 2030.

U.S. Customer Communication Management Market- Key Competitors

Major players operating in the U.S. Customer Communication Management market include Newgen Software, Adobe Systems Inc., Xerox Corporation, Cincom Systems Inc., Pitney Bowes, Inc., Doxee S.p.A., Oracle Corporation, EMC Corporation (Dell), OpenText Corp., and HP Enterprise and Others.

U.S. Customer Communication Management Market- Recent Developments

• In July, 2022, Xerox, a U.S. based company that operates in print and digital document products and services announced the acquisition of Go Inspire, a UK based print and digital marketing service provider. The acquisition would help Xerox to widen the scope of its digital services and customer engagement services in the UK.
• In November 2020, Oracle, an America based multinational technology company, announced the launch of its new cloud based customer communication management software named Oracle Cloud CX Platform. The new platform would adopt the data based approach to connect customer behavior, transactions and demographics to ensure effective customer communication services.

U.S. Customer Communication Management Market- Drivers:

Introduction of innovative and cutting-edge communication channels:

The emergence of novel and cutting-edge communication channels has significantly transformed the landscape of customer communication. As customers adopt various digital platforms and devices, businesses must adapt to meet them where they are. This dynamic shift has led to the increasing demand for customer communication management platform services. With an array of communication channels available, businesses need a centralized system to manage all interactions efficiently. A customer communication management platform provides a unified dashboard to monitor and respond to customer inquiries across multiple channels, such as social media, email, live chat, SMS, and more. For instance, on April 19, 2023, Nextiva, an U.S. based voice-over-communication company announced the acquisition of Simplify 360, an India based AI customer communication management company to increase its omni-channel communication management services. This shows that the market players are increasingly focused on developing omni-channel communication capabilities to serve the growing needs of the customer communication management market in the US.

Increasing penetration of cloud technologies:

The technological infrastructure in the U.S. is regarded as one of the most advanced across the world. The presence of huge technological corporations and a strong foundation of innovation and research facilities with abundant resources has led to the emergence of the country as the hub for technology. Cloud computing is one of the latest technology that is being increasingly adopted in the business world across different verticals. Cloud based technologies have the capability to transform the business processes in a more efficient manner. Cloud-based solutions can be deployed quickly compared to traditional on-premises systems, which often require lengthy setup processes, these CCM solutions are maintained and updated by the service provider, ensuring that businesses always have access to the latest features and capabilities. For instance, on May 3, 2023, Intense Technologies Limited, a company that provides software services in the regions of Asia Pacific and US, announced the development of a new customer experience management (CXM) solution with cloud and AI capabilities to automate the process of customer communication management (CCM).

U.S. Customer Communication Management Market- Restraint

Security concerns regarding data used for customer communication management software:

As businesses collect and store vast amounts of sensitive customer data for communication purposes, ensuring its security and privacy becomes paramount. Several security threats like data breaches, cyberattacks, unauthorized access, phishing, etc. are becoming more frequent in the current market scenario. These instances can lead to the decreased adoption of CCM software solutions and affect the market growth for the US customer communication management market. For instance, in July 2023, Jump Cloud, a US based software company experienced cyber-attack attempts on its servers that stored sensitive user data. The attack was suspected to be attempted by the team of hackers in North Korea. Such hacking attempts raise the concern of privacy of user data and this could act as a challenge for the organization making use of these cloud services and could act as a restraining factor for the US customer communication management market.

U.S. Customer Communication Management Market- Opportunity

Increasing adoption of customer communication management software in the Banking, Financial Services and Insurance (BFSI) industry:

The BFSI sector is witnessing a growing adoption of customer communication management platforms, aimed at improving customer interaction and enhancing the service portfolio. Both private and government financial institutions are actively embracing CCM software to streamline operations, reduce operating costs, and elevate customer service. By integrating CCM solutions, these organizations can prioritize their core business activities while delivering personalized and efficient communication to their customers. For instance, according to an article published by Doxee, an Italy based company that provides cloud technologies, provides a software named, Doxee Document Experience, a cloud based CCM software designed exclusively to meet the needs of banking industry. The software processes the company’s data to optimize their document production and distribution process and ensure multi-channel communication model

U.S. Customer Communication Management Market- Impact of COVID-19:

The Covid-19 pandemic disrupted the markets across the world. As a result of the country-wide lockdowns and strict social distancing norms. At the same time, the pandemic acted as a catalyst which boosted innovation and development in the technology sector. Consequently, several industries based on technology as its core, were revolutionized with improved service offerings. During the pandemic the pace of technological development was significant. Factors like acceleration of digital transformation, increased demand for omni-channel communication, focus on personalized and empathetic communication, etc. led to the customization of CCM services to incorporate these changing needs of the market. Hence, the covid-19 pandemic could be considered to have a positive impact on increasing the pace of technological development in the US customer communication management market.

 *Definition: Customer Communication Management (CCM) refers to the strategy and process of managing all interactions and communications between a business or organization and its customers. It involves the effective and coordinated use of various communication channels to engage with customers, deliver personalized messages, and provide a seamless customer experience throughout their journey with the company.