Global Market Study on Enterprise Customer Communications Management: Increasing Need to Control Customer Churn Rate Fuelling Market Growth


Enterprise Customer Communications Management  Market
  • Published On : Jun-2020 |
  • Pages : 325 Pages |
  • Format : Enterprise Customer Communications Management  Market Enterprise Customer Communications Management  Market Enterprise Customer Communications Management  Market Enterprise Customer Communications Management  Market

Customers are constantly presented with different offers by enterprises across verticals such as retail and consumer goods, banking financial services and insurance, and others, which are meant for attracting new customers and retaining the existing ones. Due to increase in competition, enterprises are increasingly adopting technological solutions that can help them enhance their product and service delivery and attract new customers. Enterprise customer communication plays a very important role in today’s competitive world, as good communication with customers results in customer satisfaction, and ultimately, customer retention and loyalty.

Efficient control over customer churn rate is standing out as a KPI for enterprises, and to retain existing customers, they are increasingly adopting enterprise customer communications management platforms. These platforms are used for creation, storage, delivery, and retrieval of outbound communications with customers. Hence, the increasing need for controlling the customer churn rate is driving the growth of the enterprise customer communications management market size, significantly.

For instance, in April 2020, Cincom Systems introduced a new customer communication management solution that is able to transform all communications from paper to digital form, as such, allowing multiple delivery methods. Businesses of all sizes operating across various verticals can significantly reduce operating costs, and, at the same time, enhance customer satisfaction.

Enterprise Customer Communications Management Market Trends

With the development of cloud-based deployment of software, cloud-based businesses have been initiated, and this is effective for customers as well as enterprises. A cloud-based business model enables hassle-free payment options for the services rendered. Users can opt for a monthly, quarterly, or yearly subscription plan based on the requirement of their businesses. Recurring billing enables online billing and eliminates repetitive manual payments for services. An inevitable benefit for businesses is that, the cloud-based model increases revenue while building upon business and customer relationships. With the introduction of a cloud-based revenue model, it is expected that the demand for enterprise customer communications management platforms and services from small and medium enterprises will increase over the forecast period.

For instance in July 2019, Open Text Corporation expanded its strategic partnership with Google Cloud. The company uses Google Cloud to enable multi-layered global disaster recovery services for customers with business-critical EIM workloads running in the cloud, on-premise, and in hybrid cloud architectures.

Steady Growth of Market Under Impact of COVID-19 Pandemic

Amid the COVID-19 crisis, most countries are in partial or total lockdowns, due to which, most employees are working from remote places. Hence, the market is anticipated to face a decline in demand for enterprise customer communications management solutions. On the other hand, new customers are demanding more cloud-based solutions so that they can continue running their operations from remote workplaces. Thus, to cover up the declining demand for enterprise customer communications management solutions, players are developing new cloud-based solutions. As such, the demand for enterprise customer communications management cloud-based solutions is anticipated to grow 5-10% in the near future.

Regional Analysis of Enterprise Customer Communications Management Market

In terms value, the enterprise customer communications management market in North America accounted for the largest market share in 2019, with the United States market dominating the region. Nowadays, the shift of companies from manual systems to integrated solutions is driving the growth of the market. However, the enterprise customer communications management market in East Asia is anticipated to grow at the highest CAGR during the forecast period (2020-2030). Organizations and companies in these regions are interested in adopting technology and are finding it easy to implement convenient and trusted solutions, which do not increase the complexity of workflows.

Enterprise Customer Communications Management Market Structure

Enterprise customer communications management platform providers generate major revenue from subscription-based models. A majority of customers subscribe for one month or opt for quarterly plans, with very few customers opting for annual subscriptions. As a result, even though the number of subscriptions is high, there is no assurance that vendors will be able to retain those customers. Thus, while subscription-based models are a source of high revenue generation, they are always associated with a high risk factor, as customers can easily switch from one vendor to another. Moreover, competition in the enterprise customer communications management market is very high, and customers have multiple vendors to choose from. As such, the global enterprise customer communications management market is fragmented in nature.

Analysts’ Viewpoint

A comprehensive view of the enterprise customer communications management market has led our analysts to conclude that, the market is escalating at a significant rate. Regions such as Europe and North America are holding a large part of the global enterprise customer communications management market. Alliances with other customer communications management solution providers along with regional expansion are some strategies being opted for by key players to fuel their sales growth.

Enterprise Customer Communications Management Market – Report Scope

Persistence Market Research (PMR) recently published a new research analysis on the enterprise customer communications management market for the assessment period of 2020-2030. The research study offers a close look at the evolving aspects of the enterprise customer communications management market, as well as the dynamics impacting market growth. The research study focuses on the key developments that have made their mark in the enterprise customer communications management market, and other developments that are on the cards. The report talks about various macro- and micro-economic factors responsible for having an in-depth impact on the growth of the enterprise customer communications management market.

A direct market overview provides the growth scenario and market potential with maximum precision, which is adjudged with suitable assumptions. The report features unique and relevant factors that are likely to have a significant impact on the enterprise customer communications management market during the forecast period. This report includes a detailed and considerable amount of information, which will help new manufacturers in the most comprehensive manner for better understanding.

Several stakeholders in the enterprise customer communications management market can rely on the data offered in this research study, and delve into pragmatic decision-making. Moreover, information offered in the enterprise customer communications management market report also helps new market entrants expand their bases in the market space.

The report elaborates the historical and current trends molding the growth of the enterprise customer communications management market. The performance journey of the enterprise customer communications management market has been drawn and analyzed in way that the lucrative side of the market is evident to readers. The competitive landscape presented in the enterprise customer communications management market report gives a detailed outlook of the profiles of key companies operating in the market, along with their differential strategies and key focus areas.

Enterprise Customer Communications Management Market: Segmentation

PMR’s research study on the global enterprise customer communications management market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The segmentation of the enterprise customer communications management market has been offered on the basis of solution, deployment, enterprise size, industry, and region. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.

Solution

  • Customer Communication Management (CCM) Platforms
  • Services

Deployment

  • On-premise
  • Cloud

Enterprise Size

  • Small & Medium Enterprises
  • Large Enterprises

Industry

  • BFSI
  • IT & Telecom
  • Manufacturing
  • Retail
  • Energy & Utilities
  • Government
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa

Enterprise Customer Communications Management Market: Key Questions Answered in the Report

The research study on the enterprise customer communications management market offers inclusive insights about the growth of the market in the most comprehensible manner for the better understanding of users. Insights offered in the enterprise customer communications management market report answer some of the most salient questions that assist stakeholders in gauging all the emerging possibilities.

  • How have virtual interaction points turned into a major growth engine for the enterprise customer communications management market?
  • How are small and medium enterprises creating new opportunities for the enterprise customer communications management market?
  • What are the key trends that are constantly shaping the growth of the enterprise customer communications management market?
  • Which are the prominent regions offering plentiful opportunities for the enterprise customer communications management market?
  • What are the key differential strategies adopted by key players to command a significant chunk of the global market share?

Enterprise Customer Communications Management Market: Research Methodology

A unique and promising research methodology forms the base of the enterprise customer communications management market for the forecast period. The report has been prepared after comprehensive analysis of market happenings, and then riveting insights have been compiled meticulously. The research methodology of the enterprise customer communications management market has been a two-step process that comprises primary and secondary research. Key stakeholders, which include enterprise customer communications management manufacturers, suppliers, and distributors have been interviewed, along with experts of several designations, including executive vice presidents, directors, service engineers, technical advisors, GM marketing professionals, and sales professionals.

Secondary sources referred to garner report findings include investor presentations of manufacturers, World Bank, and many other credible sources.

Companies covered in Enterprise Customer Communications Management Market Report

  • Newgen Software Technologies Limited
  • Adobe systems, Inc.
  • Cincom Systems, Inc.
  • Doxee S.p.A.
  • OpenText Corp.
  • Oracle Corporation
  • Pitney Bowes, Inc.
  • Xerox Corporation
  • ISIS Papyrus Europe AG
  • Crawford Technologies

Enterprise Customer Communications Management Market

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