Report : Asia Pacific Customer Communication Management Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution and Services), Deployment (Cloud-based and On-Premise), Enterprise Size (Small & Medium-Size Enterprises and Large Enterprises), and Industry (BFSI, IT & Telecom, Manufacturing, Retail, Energy & Utilities, Government, and Others)
At 12.9% CAGR, the Asia Pacific Customer Communication Management Market is speculated to be worth US$ 696.35 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC customer communication management market was valued at US$ 336.16 million in 2022 and is expected to reach US$ 696.35 million by 2028, registering an annual growth rate of 12.9% from 2022 to 2028. Customer communications management (CCM) solutions provide customer engagement through omnichannel and rising usage of analytics and mobility for customer communications management (CCM) concerns are the critical factors attributed to the market expansion.
The businesses are looking forward to achieving a higher customer base, resulting in a rise in revenue with the help of various channels to understand various factors such as customer purchasing trend, demands, and choice of brands. Thus, with the growing adoption of advanced technologies and mobile devices, organizations are gathering data from various sources. Thus, data synchronization is a prominent factor in mapping and analyzing customer demands. The synchronization in data prevents data conflicts, resulting in errors, low-quality, and low-trust data. Thus, synchronized and reliable data is essential for meeting consumer demand. Complexity grows with data, which can become an issue in achieving consumer demand appropriately. The data obtained from a particular source is not similar to other sources as the enterprises cannot combine them and emerges the need to structure data in different ways. Thus, a significant amount of structured and unstructured data must be followed by precise resources, such as money, time, and employees to analyze. The organizations must improve the speed of integration with the consistent growth and complexity of touchpoints in the customer feedback process. Thus, data synchronizations and associated complexities in managing the customers are hampering the customer communications management market. This is expected to drive the market during the forecast period.
On the contrary, data synchronizations and difficulties of customer communication management hurdles the growth of APAC customer communication management market.
Based on component, the APAC customer communication management market is divided into solution and services. The solution segment held 73.5% market share in 2022, amassing US$ 247.23 million. It is projected to garner US$ 523.19 million by 2028 to expand at 13.3% CAGR during 2022–2028.
Based on deployment, the APAC customer communication management market is categorized into cloud-based and on premise. The cloud-based segment held 66.3% market share in 2022, amassing US$ 222.93 million. It is projected to garner US$ 472.20 million by 2028 to expand at 13.3% CAGR during 2022–2028.
Based on enterprise size, the APAC customer communication management market is categorized into small & medium-size enterprises and large enterprises. The large enterprises segment held 68.1% market share in 2022, amassing US$ 228.82 million. It is projected to garner US$ 454.57 million by 2028 to expand at 12.1% CAGR during 2022–2028
Based on industry, the APAC customer communication management market is BFSI, IT and telecom, manufacturing, retail, energy & utilities, government, and others. The IT and telecom segment held 24.7% market share in 2022, amassing US$ 82.93 million. It is projected to garner US$ 177.34 million by 2028 to expand at 13.5% CAGR during 2022–2028
Based on country, the APAC customer communication management market has been categorised into the China, Japan, India, Australia, South Korea, and Rest of APAC. Our regional analysis states that China captured 31.6% market share in 2022. It was assessed at US$ 106.23 million in 2022 and is likely to hit US$ 225.62 million by 2028, exhibiting a CAGR of 13.4% during the forecast period.
Key players dominating the APAC customer communication management market are Smart Communications; Adobe; Crawford Technologies; Newgen Software Technologies Ltd; Open Text Corporation; MESSAGEPOINT INC.; Oracle Corporation; Doxim; Capgemini; Precisely(CEDAR CX Technologies) among others.
- In Dec 2021, CEDAR CX Technologies has been acquired by Precisely.
- In May 2020, Aspire has named Smart Communications a Customer Communications Management Leader.