According to a new market research report published by Credence Research “Customer Communication Management (CCM) Managed Services Market (Industry Verticals – IT & Telecom, Banks, Financial Services & Insurance (BFSI), E-commerce & Retail, Hospitality & Travel, Government & Utilities and Others (Healthcare, Education, Media & Entertainment)) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, The worldwide market for CCM managed services is set to cross the US$ 1.20 billion mark by 2026.
The general market for CCM managed services is motivated primarily by a steadily increasing tendency towards the adoption of managed IT services. The increasing need to maintain clients involved through communication across different channels has assured a significant penetration of CCM solutions over time. CCM managed services allow organisations to accomplish this efficiently while at the same time restricting human labor costs. In addition, the powerful implementation of cloud services, particularly in tiny and medium-sized businesses (SMEs) in North America and Europe, has considerably broadened the consumer base for CCM managed services. Nevertheless, the threat of data breach continues a significant challenge for the market for CCM managed services.
Browse the full report at “Customer Communication Management (CCM) Managed Services Market”
Based on the product type, the IT & Telecom section of the CCM managed services market accounts for more than 1/4 of the general market income produced globally. Other prominent vertical sectors for CCM managed services include BFSI, e-commerce & retail and public & utilities. The Hospitality & Travel segment is anticipated to record elevated market development over the forecast period. Furthermore, based on geography, the market is resulted by North America and is estimated to remain dominant in the market throughout the forecast period. The area is primarily supported by the US, which generates more than 25% of the total income of the IT sector globally. Asia Pacific is set to show the largest growth rate over the forecast period.
Some of the major players operating in the market include Oracle Corporation, Pitney Bowes, Inc., Adobe Systems, Inc., OpenText Corporation. Other prominent players profiled in the report include GMC Software AG, SmartComms SC Ltd., XMPie (Xerox Corporation), Ecrion, Inc., Zoho Corporation, Striata, Cincom Systems, Inc., Kofax, Inc., Newgen Software, Inc., Intense Technologies Ltd., Dell, Inc., ISIS Papyrus Europe AG, Fidelity National Information Services, Inc. and Doxee S.p.A. among others. The overall CCM managed services market is quite competitive in nature with majority of the players focusing on enhancing their service portfolio.
Managed services has gained momentum on account of factors such as flexibility, scalability, reduced overheads and seamless operation. Thus, major players in the market emphasize towards enhancing their service portfolio. One of the major strategies identified is partnership with other players in the market with an aim of delivering application specific CCM managed service. For instance, in July 2017 Pitney Bowes announced its partnership with NMPi, a digital marketing agency, to deliver superior solutions of digital marketing for online retailers.
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By Industry Vertical Segment (2016–2026; US$ Mn)
- IT & Telecom
- Banks, Financial Services & Insurance (BFSI)
- E-commerce & Retail
- Hospitality & Travel
- Government & Utilities
- Others (Healthcare, Education, Media & Entertainment etc.)
By Geography Segment (2016–2026; US$ Mn)
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America