The global CCM Market size is projected to grow from USD 1.3 billion in 2021 to USD 2.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.2% during the forecast period. The major growth drivers for the market include increasing adoption of CCM solutions and services in various verticals such as IT and telecom, retail and eCommerce, healthcare, BFSI, travel and hospitality, government, utilities, and other verticals.
By component, solution segment to hold the largest market size during the forecast period
The solution segment is expected to hold the largest market size during the forecast period. Enterprises deploy CCM solutions to provide customers highly connected personalized experiences across a wide range of websites, stores, call centers, mobile apps, social media, emails, virtual assistants, and other touchpoints. Enterprises are aware of the importance of each interaction, which carries customers’ perception of products or brands. Solutions such as omnichannel, ML, analytics, and workforce optimization are the backbone of modern customer services, which offer brands and products a competitive edge.
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By vertical, IT and telecom segment to grow at a higher CAGR during the forecast period
CCM market is segmented into IT and telecom, retail and eCommerce, BFSI, travel and hospitality, healthcare, government, utilities, and other verticals. CCM solutions help simplify IT infrastructure through a single, comprehensive solution for batch automation and interactive communications generation. In this way, companies can utilize data while creating documents. This enables them to create valuable content and contribute directly to objectives of their customer experience strategy. Therefore, telecommunications and IT companies have started investing in CCM solutions that would help them deliver high-quality services to their customers.
Key and innovative vendors in the CCM market include Adobe(US), Oracle(US), OpenText(US), Zendesk(US), Newgen Software(India), Capgemini(France), Quadient(France), Smart Communications(England), Sefas(France), CEDAR CX Technologies(US), Messagepoint(Canada), Doxim(Canada), Topdown(US), Napersoft(US), Ecrion(US), Doxee(Italy), Papyrus Software(Austria), Hyland(US), Bitrix24(US), Braze(US), HelpCrunch(US), AdventSys(India), Front(US), Trengo(Netherlands), Podium(US), Pitney Bowes(US).
These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in the CCM market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2018 to 2021 to innovate their offerings and broaden their customer base.
Adobe offers its products and services in three different segments, namely, Digital Media, Digital Experience, and Print & Publishing. Under the Digital Media segment, the company offers extensive cloud-based platforms, such as Adobe Creative Cloud, providing users access to its creative products, such as Photoshop, Illustrator, Premiere Pro, and Adobe XD. Adobe Experience Cloud, which provides a plethora of solutions such as analytics, targeting, advertising optimization, digital experience management, marketing automation and engagement, content management, order management, and predictive intelligence. Adobe also has a presence in various regions, such as the Americas, Europe, the MEA, and APAC.
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Oracle’s customers include businesses of various sizes, government agencies, educational institutions, and resellers. The company sells its products and services directly and indirectly through worldwide salesforce and the Oracle Partner Network, respectively. It specializes in developing, manufacturing, and marketing hardware systems, databases, and middleware software, and application software. The company includes SaaS offerings designed to incorporate emerging technologies, such as IoT, AI, ML, and blockchain. Oracle operates through three business segments, which include cloud and license, hardware, and services, in more than 175 countries and caters to 430,000 customers across verticals, such as banking, telecommunications, engineering and construction, financial services, healthcare, insurance, public sector, retail, and utilities. Oracle Documaker is a Customer Communications Management (CCM) system and the most widely-used Enterprise Document Automation (EDA) solution. Documaker dynamically creates, manages, and delivers enterprise communications to customers and stakeholders when and how they want them—whether by print, email, text messaging, social media, or any other format. The company offers its solutions to customers present in more than 145 countries across the Americas, Europe, APAC, and MEA.
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