"Increasing Inclination towards Adopting Managed IT Services to Pave Way for Customer Communication Management (CCM) Managed Services"

CCM managed services market stood at US$ 423.9 Mn in 2017 and expected to cross the US$ 1,200 Mn mark by 2026. CCM managed services cover outsourced processes related to CCM on a ‘pay-as-you-go’ model. This ensures effective flow of CCM processes with minimal cost as compared to the in-house CCM suite management. With the overall growing inclination towards managed services, especially in North America and Europe, CCM managed services have witnessed robust demand in the regions since the past few years. Factors such as continually growing adoption of cloud services and higher inclination of small & medium enterprises (SMEs) towards these services would ensure optimum market growth over the forecast period. However, concerns related to data breach from web-based CCM platforms remains a major challenge for the market growth.

"IT & Telecom Segment to Continue Leading the Market; Hospitality & Travel Segment to Demonstrate the Highest Growth Rate"

In 2017, the global CCM managed services market was led by IT & telecom and BFSI segments. The two segments collectively account for more than 40% of the total market value in 2017. Presence of strong IT & telecom and BFSI sectors with strong focus on effective customer engagement is the most prominent factor supporting the segment growth. With consistently increasing penetration of cloud services and managed IT services in Asia Pacific, the IT & telecom segment would continue dominating the market. In the following years, hospitality & travel segment is projected to register high growth rate over the forecast period.

"North America to Continue Dominating the Market; whereas Asia Pacific to Emerge as the Most Promising Market"

In 2017, North America led the overall CCM managed services market in terms of value. The region contributed to more than 1/3rd of the total market value generated worldwide. The U.S., accounting for nearly 1/4th of the overall IT industry revenue, represents the largest market in North America. Factors such as higher degree of sophistication among customers and higher labor costs have resulted in greater adoption of CCM solutions in North America. In addition, higher focus towards enhanced customer engagement coupled with presence of significant number of managed services providers is another prominent factor supporting the market growth. With continued need for effective customer engagement, North America would continue leading the market over the forecast period.

Europe follows North America, in terms of market value, in the overall CCM managed services market. The market here is mainly governed by Western Europe having robust IT & telecom sector along with significant penetration of managed IT services. In Europe, Germany, U.K., France, Italy and Spain collectively control nearly 2/3rd of the total IT industry across the region. Nevertheless, in the following years, Asia Pacific would exhibit the fastest growth in CCM managed services market. Countries such as Japan, China, South Korea, India and some of the Southeast Asia countries are expected to emerge as prominent markets for overall managed IT services on account of continually growing IT industry here. Subsequently, the region would demonstrate high growth during the forecast period.

"Geographic expansion and service enhancement to remain the key strategies"

Some of the major players operating in the market include Oracle Corporation, Pitney Bowes, Inc., Adobe Systems, Inc., OpenText Corporation, 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. Prominent players in the CCM managed services market are focused on strengthening their product portfolios with more secure and efficient communication software and platform. Introduction of new and improved software with multichannel communication and advanced features are few of the prime strategies adopted by the market players. Emerging players in the market are expected to experience tough competition and will have to plan better strategies to survive in this highly competitive market in the near future due to increase in competition between the market leaders and the already existing players during the forecast period.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Customer Communication Management (CCM) Managed Services market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Customer Communication Management (CCM) Managed Services market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Customer Communication Management (CCM) Managed Services market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Customer Communication Management (CCM) Managed Services market?
• Which is the largest regional market for Customer Communication Management (CCM) Managed Services market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Customer Communication Management (CCM) Managed Services market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Customer Communication Management (CCM) Managed Services market worldwide?