Report : South America Customer Communication Management Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution and Services), Deployment (Cloud-based and On-Premises), Enterprise Size (Small & Medium-Size Enterprises and Large Enterprises), and Industry (BFSI, IT & Telecom, Manufacturing, Retail, Energy & Utilities, Government, and Others)
At 9.3% CAGR, the South America Customer Communication Management Market is speculated to be worth US$ 66.06 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM customer communication management market was valued at US$ 38.64 million in 2022 and is expected to reach US$ 66.06 million by 2028, registering an annual growth rate of 9.3% from 2022 to 2028. Customer communications management (CCM) solutions maintain customer engagement through omnichannel and increasing usage of analytics and mobility for customer communications management (CCM) concerns are the critical factors attributed to the market expansion.
Natural Language Processing (NLP) is a type of machine learning. It understands the words, sentences, and context of customer support queries. As a subset of artificial intelligence (AI), NLP interprets and analyzes customer’s verbal statements. AI-powered customer communications management platform can intelligently handle the complexity of structured, personalized, compliant omnichannel customer communications more effectively and efficiently. Further, machine learning is an effective way to achieve AI. ML-based tools help enterprises process customer data efficiently and generate highly personalized offers to fulfill customers' demands. A tool that integrates NLP into a CCM solution provides a remarkable customer experience. Further, applying intelligence to content and optimization helps enterprises make better, more interactive, and faster content. It helps discover areas where content consolidation or improvement can be performed, such as spotting similarities, duplicates or inconsistencies, and outliers. It also provides recommendations to improve the content by making suggestions on style and highlighting areas that are inconsistent or associated with a negative sentiment. The NLP-driven CCM solutions provide better planning and coordination; increase operational efficiency; ensure seamless interaction via omnichannel; and offer a larger, deeper, and more precise customer insight to produce better and more relevant content. This will result in increased customer retention and revenue. Thus, the ongoing deployment of NLP in various organizations is expected to offer a potential growth opportunity for the customer communications management market over the forecast period. This is expected to drive the market during the forecast period.
On the contrary, data synchronizations and complexities of customer communication management hurdles the growth of SAM customer communication management market.
Based on component, the SAM customer communication management market is divided into solution and services. The solution segment held 75.2% market share in 2022, amassing US$ 29.04 million. It is projected to garner US$ 51.05 million by 2028 to expand at 9.9% CAGR during 2022–2028.
Based on deployment, the SAM customer communication management market is categorized into cloud-based and on premise. The cloud-based segment held 58.3% market share in 2022, amassing US$ 22.51 million. It is projected to garner US$ 40.01 million by 2028 to expand at 10.1% CAGR during 2022–2028.
Based on enterprise size, the SAM customer communication management market is categorized into small & medium-size enterprises and large enterprises. The large enterprises segment held 75.1% market share in 2022, amassing US$ 29.01 million. It is projected to garner US$ 47.68 million by 2028 to expand at 8.6% CAGR during 2022–2028
Based on industry, the SAM customer communication management market is BFSI, IT and telecom, manufacturing, retail, energy & utilities, government, and others. The IT and telecom segment held 23.5% market share in 2022, amassing US$ 9.09 million. It is projected to garner US$ 15.93 million by 2028 to expand at 9.8% CAGR during 2022–2028
Based on country, the SAM customer communication management market has been categorised into the Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 70.7% market share in 2022. It was assessed at US$ 27.32 million in 2022 and is likely to hit US$ 48.15 million by 2028, exhibiting a CAGR of 9.9% during the forecast period.
Key players dominating the SAM customer communication management market are Smart Communications; Adobe; Crawford Technologies; Newgen Software Technologies Ltd; Open Text Corporation; MESSAGEPOINT INC.; Oracle Corporation; and Capgemini among others.
- In April 2022, Newgen Software has released OmniOMS 10.0, an updated version of their Omnichannel Customer Engagement Platform (CCM).
- In April 2022, Quadrant Knowledge Solutions has named Messagepoint the 2022 SPARK Matrix Technology Leader in Customer Communications Management.
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