The U.S. market for customer communication management is expected to experience a significant level of competition in the next few years, owing to the expected rise in the number of players entering the market, states a research report by Transparency Market Research. The leading players in the market are making remarkable efforts to enhance their market presence by offering a wide range of products to consumers. Some of the key players operating in the customer communication management market in the U.S., namely HP Enterprises, OpenText Corp., Pitney Bowes Inc., and Adobe Systems Incorporated are expected to collectively hold a massive share if the market in the forecast period. To gain a competitive edge in the market, the players are expected to focus on providing customized solutions to consumers with the help of cloud environment. This is likely to offer promising opportunities for key players in the coming years.
As per the research study by Transparency Market Research, in 2016, the U.S. market for customer communication management was worth US$423.1 mn. The market is estimated to reach a value of US$1.06 bn by the end of 2025, registering a progressive 11.0% CAGR between 2017 and 2025.
Adoption of New technologies to Bolster U.S. Customer Communication Management Market
As U.S. has always been a leading nation in terms of adoption of latest technologies, owing to which the scope for customer communication management market to grow is high in the next few years. In addition, the presence of several prominent players operating in this region is expected to contribute extensively towards the development of the overall market in the next few years. Furthermore, the rising focus of key players on research and development activities and introduction of new products are likely to accelerate the growth of the customer communication management market in the next few years.
On the basis of end use, the U.S. market for customer communication management market has been categorized into education, healthcare, media, entertainment, it and telecom, government and utilities, hospitality and travel, BFSI, and e-commerce and retail. Among these, the healthcare and BFSI segments are likely to experience high growth throughout the forecast period, states a TMR analyst. Nevertheless, the IT and telecom segment is expected to offer potential growth opportunities in the next few years. The rising demand for innovative technologies for communication is predicted to supplement the growth of these segments in the near future.
Expansion of Application Base to Boost Customer Communication Management Solutions
Technological advancements and innovations in the communication technologies are considered as the key factors that are estimated to augment the growth of the customer communication management market in the U.S. In addition, the rising rate of adoption and the expansion of the product portfolio are anticipated to accelerate the development of the market in the next few years. Furthermore, the key players in the customer communication management market are emphasizing on multi-channel output and context-rich information, which are predicted to supplement the market’s growth in the next few years.
On the flip side, the players in the U.S. customer communication management market are likely to face several barriers throughout the forecast period. The rising concerns related to the security is anticipated to restrict the growth of the U.S. customer communication management market in the coming few years. In addition, the lack of knowledge among consumer regarding the benefits of using latest communication technologies is expected to hamper the overall development of the market in the next few years. Nonetheless, the introduction of cloud technology in the customer communication management sector is expected to augment the market in the next few years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Customer Communication Management (CCM) Market (Solution - Software Suite, Managed CCM Services, Consulting, Integration, and Maintenance; Enterprise Size - Large Enterprises and Small and Medium Enterprises (SMEs); Deployment - Cloud and On-premise; End-use Industry - Healthcare, BFSI, IT & Telecom, E-commerce and Retail, Hospitality & Travel, Government & Utilities, Education, Entertainment, and Media) - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2025.”
The U.S. customer communication management market has been segmented as below:
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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