We are monitoring the impact of COVID-19 on Correspondence Management System Market Get in touch with us for detailed analysis Know More
Pulished Date March, 2021
ID: 11307
Share on
Share on

Correspondence Management System Market Research Report – Segmentation By component (Software, service features), By Delivery Channel (Email, Web, and SMS/MMS), By Application (Mailroom Automation, Engineering Document Control), By Vertical (BFSI, Telecommunications and IT, Government and public sector, Energy and Public services, Manufacturing and automotive, Retail and e-commerce, Health care and Immovable), Organization Size, Industry Vertical, and Region - Global Forecast to 2026

Pulished: March, 2021
ID: 11307
Pages: 150

Correspondence Management System Market Size & Growth (2021 – 2026)

The global Correspondence Management System market size is expected to grow from USD 2.5 billion in 2021 to USD 4.35 billion by 2026, at a CAGR of 12.6% during the forecast period.

Demand is expected to increase over the next 5 years due to several factors including the need to reduce planning and budgeting cycles. In addition, the automation of internal and external communications has developed considerably with the rise of analysis and big data solutions. Additionally, to effectively execute real-time communication, organizations are rapidly adopting correspondence management solutions to handle all correspondence.

Recent Developments

  • 2019: Hyland Software, Inc. Launches Enterprise Search Federator for OnBase. With this new version, users can take advantage of enterprise search to discover OnBase documents as well as other sources of content in an enterprise. Enterprise Search provides users with a flexible interface that supports all mobile devices, browsers and operating systems.
  • 2018: Ideagen expands its operations in Southeast Asia. The project involves offices in Malaysia, Kuala Lumpur and is expected to provide development, service and support services to its customers.
  • 2018 - The Xerox Flex Cloud content management platform allows users to collaborate on projects, work from anywhere, track business transactions, connect with customers, automate paper workflows and automatically organize documents and data without IT support. The platform integrates with DocuSign and will soon expand to integrate with Salesforce.com and QuickBooks Online.
  • 2017: SpringCM obtains FedRAMP authorization for document management solutions. The company would help federal agencies streamline complex business processes while managing billions of documents and reducing review and approval time.

Market Growth and Trends

The automated and personalized communication system is very useful to manage correspondence between sectors, such as banking, financial services and insurance (BFSI), health and telecommunications and IT, as these sectors follow defined processes, repeated and rule-based. The automated communication system reduces inconsistencies and terminations of correspondence in the business environment, enabling an efficient internal and external communication system. This, in turn, is driving the growth of the Correspondence Management System market.

Correspondence management systems are a valuable solution for organizations as they help reduce paper waste, which in turn lowers the cost of printing. As a result, many organizations are increasingly moving towards a paperless environment. It can be done efficiently through the use of correspondence management systems.

The demand for the cloud-based deployment model is expected to increase rapidly. With availability and accessibility, cloud-based deployments are gaining ground. Another big reason for the rise of cloud-based deployments is the transition of large and small enterprise systems to the cloud. As this saves time and additional expense and maintenance cost, especially small businesses are implementing correspondence management system platforms using the cloud deployment model as it enables them to focus on their core skills rather than investing more capital in your IT infrastructure.

Market Drivers and Restraints

The main driver of the global correspondence management systems market includes the growing need for automation and customization of fast and secure internal and external communications and communications systems. However, while vital, many companies over the years have failed to exploit a crucial solution such as correspondence management to automate parts of their processes to reduce aggregation costs and document delivery, other than not adopting the relevant correspondence solutions that companies have. Nor was it able to take advantage of reusing existing content and avoiding duplication.

Market segmentation

Correspondence Management System Market - By Component:

  • Software
  • Service features

Based on the component, software segment is leading with the highest shares of the correspondence management systems market.

Correspondence Management System Market - By Delivery Channel:

  • e-mail
  • Web-based
  • SMS / MMS

On the basis of delivery channel, the e-mail segment is ruling with the largest shares of the market whereas web-based sector is witnessed in holding the highest CAGR.

Correspondence Management System Market - By Application:

  • Mail room automation
  • Diplomatic exchange
  • Control of engineering documents

Correspondence Management System Market - By Vertical Sector:

  • BFSI
  • Telecommunications and IT
  • Government and public sector
  • Energy and Public services
  • Manufacturing and automotive
  • Retail and e-commerce
  • Health care
  • Immovable

Regional Analysis:

The global market by region covers 5 main geographic regions:

  • North America
  • Asia Pacific (APAC)
  • Europe
  • Middle East and Africa (MEA)
  • Latin America

North America represents the highest market share, due to the increasing adoption of automation, as well as the growing need for effective communication with customers and internally for better retention in various industry verticals, such as retail and e-commerce., BFSI and the government. The United States and Canada are two important markets in North America that are experiencing a healthy adoption of advanced technologies, such as mail management system solutions.

Europe is following North America in leading the highest shares of the market. Constant economic growth and rising investments are major factors propelling the demand of the correspondence management system market.

Asia Pacific is estimated to hit the highest CAGR in the coming years. Prominence for the innovative technological products is leveraging the growth rate of the correspondence management system market in Asia Pacific.

Key market players:

The market includes major vendors such as Opentext Corporation (Opentext), IBM Corporation (IBM), Micropact (MicroPact), Catec (CATEC), Fabasoft AG (Fabasoft), Microsoft Corporation (Microsoft), Adobe Systems, Inc. (Adobe), Rosslyn Analytics (Rosslyn Analytics), Newgen Software Technologies Limited (Newgen Software), Top Down Systems Corporation (Top Down Systems), Everteam, Xerox Corporation, Pitney Bowes (Pitney Bowes), Palaxo International LTD (Palaxo). The study includes an in-depth competitive analysis of these key players in the global market with their company profiles, recent developments, and key market strategies.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Correspondence Mnagement Systems Market, By Component                           

                                6.1.1 Software 

                                6.1.2 Service features   

                                6.1.3 Market Size Estimations & Forecasts (2021-2026)   

                                6.1.4 Y-o-Y Growth Rate Analysis              

                                6.1.5 Market Attractiveness Index           

                6.2 Correspondence Mnagement Systems Market, By Delivery Channel                  

                                6.2.1 e-mail       

                                6.2.2 Web-based            

                                6.2.3 SMS / MMS            

                                6.2.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.5 Y-o-Y Growth Rate Analysis              

                                6.2.6 Market Attractiveness Index           

                6.3 Correspondence Mnagement Systems Market, By Application                             

                                6.3.1 Mail room automation      

                                6.3.2 Diplomatic exchange          

                                6.3.3 Control of engineering documents

                                6.3.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.3.5 Y-o-Y Growth Rate Analysis              

                                6.3.6 Market Attractiveness Index           

                6.4 Correspondence Mnagement Systems Market, By Vertical Sector                       

                                6.4.1 BFSI           

                                6.4.2 Telecommunications and IT             

                                6.4.3 Government and public sector       

                                6.4.4 Energy and Public services

                                6.4.5 Manufacturing and automotive     

                                6.4.6 Retail and e-commerce     

                                6.4.7 Health care             

                                6.4.8 Immovable             

                                6.4.9 Market Size Estimations & Forecasts (2021-2026)   

                                6.4.10 Y-o-Y Growth Rate Analysis           

                                6.4.11 Market Attractiveness Index        

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                    

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Component      

                                7.2.3 By Delivery Channel            

                                7.2.4 By Application       

                                7.2.5 By Vertical Sector 

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Component      

                                7.3.3 By Delivery Channel            

                                7.3.4 By Application       

                                7.3.5 By Vertical Sector 

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Component      

                                7.4.3 By Delivery Channel            

                                7.4.4 By Application       

                                7.4.5 By Vertical Sector 

                7.5 Latin America                            

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Component      

                                7.5.3 By Delivery Channel            

                                7.5.4 By Application       

                                7.5.5 By Vertical Sector 

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Component      

                                7.6.3 By Delivery Channel            

                                7.6.4 By Application       

                                7.6.5 By Vertical Sector 

8. Key Player Analysis                                    

                8.1 IBM Corporation (IBM)                          

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Microsoft Corporation (Microsoft)                   

                8.3 Adobe Systems, Inc. (Adobe)                              

                8.4 Opentext Corporation (Opentext)                    

                8.5 Pitney Bowes (Pitney Bowes)                             

                8.6 Rosslyn Analytics (Rosslyn Analytics)               

                8.7 Micropact (MicroPact)                           

                8.8 Fabasoft AG (Fabasoft)                         

                8.9 Newgen Software Technologies Limited (Newgen Software)                

                8.10 Top Down Systems Corporation (Top Down Systems)                            

9. Market Outlook & Investment Opportunities                                 

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of Component, Delivery Channel, Application, Vertical, Organization Size along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
  1. Global Correspondence Management Systems Market By Region, From 2021-2026 ( USD Billion )
  2. Global Correspondence Management Systems Market By Component, From 2021-2026 ( USD Billion )
  3. Global Software Market By Region, From 2021-2026 ( USD Billion )
  4. Global Service features Market By Region, From 2021-2026 ( USD Billion )
  5. Global Correspondence Management Systems Market By Delivery Channel, From 2021-2026 ( USD Billion )
  6. Global e-mail Market By Region, From 2021-2026 ( USD Billion )
  7. Global Web-based Market By Region, From 2021-2026 ( USD Billion )
  8. Global SMS / MMS Market By Region, From 2021-2026 ( USD Billion )
  9. Global Correspondence Management Systems Market By Application, From 2021-2026 ( USD Billion )
  10. Global Mail room automation Market By Region, From 2021-2026 ( USD Billion )
  11. Global Diplomatic exchange Market By Region, From 2021-2026 ( USD Billion )
  12. Global Control of engineering documents Market By Region, From 2021-2026 ( USD Billion )
  13. Global Correspondence Management Systems Market By Vertical Sector, From 2021-2026 ( USD Billion )
  14. Global BFSI Market By Region, From 2021-2026 ( USD Billion )
  15. Global Telecommunications and IT Market By Region, From 2021-2026 ( USD Billion )
  16. Global Government and public sector Market By Region, From 2021-2026 ( USD Billion )
  17. Global Energy and Public services Market By Region, From 2021-2026 ( USD Billion )
  18. Global Manufacturing and automotive Market By Region, From 2021-2026 ( USD Billion )
  19. Global Retail and e-commerce Market By Region, From 2021-2026 ( USD Billion )
  20. Global Health care Market By Region, From 2021-2026 ( USD Billion )
  21. Global Immovable Market By Region, From 2021-2026 ( USD Billion )

Please wait. . . . Your request is being processed

LICENCE TYPE

$ 1234 4255

Clients
clients
clients
clients
clients
clients
clients
Click for Request Sample