Enterprise Customer Communications Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle

Enterprise Customer Communications Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Enterprises across various sectors such as retail, consumer goods, banking, financial services, insurance, and others are consistently presenting different offers to attract new customers and retain existing ones. With the increase in competition, these enterprises are increasingly adopting technological solutions that enhance product and service delivery, aiming to attract and retain customers. Effective customer communication plays a crucial role in today’s competitive Analysis, as good communication leads to customer satisfaction, retention, and loyalty.

Importance of Enterprise Customer Communication Management

Controlling customer churn rate has become a critical KPI for enterprises. To retain existing customers, enterprises are increasingly adopting enterprise customer communications management (ECCM) platforms. These platforms are essential for the creation, storage, delivery, and retrieval of outbound communications with customers. Consequently, the growing need to control the customer churn rate is significantly driving the growth of the ECCM market.

For instance, Cincom Systems introduced a new customer communication management solution that transforms all communications from paper to digital form, allowing multiple delivery methods. This enables businesses of all sizes to significantly reduce operating costs while enhancing customer satisfaction.

Trends in the ECCM Market

The development of cloud-based software deployment has led to the initiation of cloud-based business models, which benefit both customers and enterprises. A cloud-based business model offers hassle-free payment options for services rendered, allowing users to choose monthly, quarterly, or yearly subscription plans based on their business needs. Recurring billing facilitates online billing, eliminating repetitive manual payments for services. A notable benefit for businesses is that the cloud-based model increases revenue while strengthening business and customer relationships.

With the introduction of a cloud-based revenue model, the demand for ECCM platforms and services from small and medium enterprises is expected to increase over the forecast period. For example, Open Text Corporation expanded its strategic partnership with Google Cloud to enable multi-layered global disaster recovery services for customers with business-critical EIM workloads running in the cloud, on-premise, and hybrid cloud architectures.

Impact of COVID-19 on the ECCM Market

Amid the COVID-19 crisis, many countries implemented partial or total lockdowns, causing most employees to work remotely. This situation led to a decline in demand for ECCM solutions. However, new customers are increasingly demanding cloud-based solutions to continue operations from remote workplaces. To address the declining demand for traditional ECCM solutions, industry players are developing new cloud-based solutions. As a result, the demand for cloud-based ECCM solutions is anticipated to grow significantly in the near future.

Regional Analysis of the ECCM Market

In terms of value, North America holds the largest market share, with the United States leading the region. The shift of companies from manual systems to integrated solutions is driving market growth. However, the ECCM market in East Asia is anticipated to grow at the highest rate during the forecast period. Organizations in these regions are keen to adopt technology and find it easy to implement convenient and trusted solutions that do not increase workflow complexity.

Market Structure and Dynamics

ECCM platform providers generate major revenue from subscription-based models. While a majority of customers subscribe for one month or opt for quarterly plans, very few choose annual subscriptions. Consequently, despite the high number of subscriptions, there is no assurance that vendors will retain these customers. Subscription-based models, though a source of high revenue, are associated with high risk, as customers can easily switch vendors. Moreover, competition in the ECCM market is very high, providing customers with multiple vendor options. As such, the global ECCM market is fragmented in nature.

Analysts’ Viewpoint

A comprehensive analysis of the ECCM market reveals that it is growing at a significant rate. Regions such as Europe and North America dominate the global ECCM market. Key players are adopting strategies such as alliances with other customer communications management solution providers and regional expansion to fuel sales growth.

Market Segmentation

Fairfield Market Research’s study on the global ECCM market offers a detailed market taxonomy, discussing key segments in detail. The segmentation of the ECCM market is based on solution, deployment, enterprise size, industry, and region. Each segment has been thoroughly analyzed, with growth data included in the study.

Solutions in the ECCM Market
• Customer Communication Management (CCM) Platforms
• Services

Deployment Types
• On-premise
• Cloud

Enterprise Sizes
• Small & Medium Enterprises
• Large Enterprises

Industries Utilizing ECCM
• BFSI
• IT & Telecom
• Manufacturing
• Retail
• Energy & Utilities
• Government
• Others

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

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