by The global Multi-channel Communication Services Market is estimated to be valued at US$ 5.08 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Multi-channel communication services enable organizations to deliver personalized and consistent messages to customers through different channels like email, SMS, social media and mobile apps. These services improves customer engagement and experience across multiple touchpoints.
Market key trends:
One of the key trends in the multi-channel communication services market is the increasing adoption of cloud and artificial intelligence. As more organizations are moving their IT infrastructure and applications to the cloud for better scalability, flexibility and reduced costs, they are also leveraging cloud-based multi-channel communication platforms. Artificial intelligence capabilities integrated with these platforms enables organizations to gain insights from customer data and send personalized messages in real-time based on customer behavior and preferences. This is driving higher revenue growth and stronger customer loyalty.
Segment Analysis
The global multi-channel communication services market is segmented on the basis of channel, type, organization size, end use industry and region. Based on channel, the market is segmented into email marketing, social media marketing, SMS marketing and others. The email marketing segment is expected to dominate the market during the forecast period, owing to its wide reach and high engagement rates. Based on type, the market is segmented into managed services and professional services. The professional services segment is dominating currently due to growing demand for customized solutions.
Key Takeaways
Global Multi-Channel Communication Services Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing need for improved customer engagement through personalized communication across various channels.
Regional analysis
North America region dominates the multi-channel communication services market currently owing to strong presence of service providers and widespread digitalization in the region. Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to rising internet penetration and smartphone usage in developing countries like India and China.
Key players
Key players operating in the multi-channel communication services market are Ecrion Software, Striata, Xerox Corporation, Quadient, Liquid State, MailTeck, Conduent, Inc., Enghouse Interactive, Paragon Customer Communications, Infobip ltd, and Compart AG. The market is highly fragmented with the presence of both global and regional players. The key players are focusing on partnerships and new product launches to strengthen their foothold in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
