Customer Communications Management Market To Hit $2.2 Billion by 2026

Research firm MarketsandMarkets values the current global customer communications management market at $1.3 billion and expects it to reach $2.2 billion by 2026, growing at a compound annual rate of 11.2 percent.

The firm attributes the growth to increasing adoption in verticals such as IT and telecom, retail and e-commerce, health care, financial services, travel and hospitality, government, and utilities.

Customer communications management solutions help simplify IT infrastructure through a single, comprehensive solution for batch automation and interactive communications generation, it said.

Companies 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., according to the research firm. Omnichannel, machine learning, analytics, and workforce optimization are the backbone of modern customer services, which offer  a competitive edge, it said.

The report identifies Adobe, Oracle, OpenText, Zendesk, Newgen Software, Capgemini, and Quadient as key players in the industry.