Consumer Communication Services are being changing continuously due to the changing demand and needs of the consumers. Moreover, change in standard of living and the adoption of advance technology has also impacted the market for Consumer Communication Services. At present consumers are taking use of smart phones and other devices to do shopping, providing reviews, and other tasks.
With the change in service expectations among consumers, they have started using various communication channels for their needs and many organizations also have started using technology based Consumer Communication Services that are automated, intelligent and scalable. These Consumer Communication Services works in integration with existing processes and helps enterprise in reducing the risk of fraud and improves customer services.
The rising usage of modern technologies such as cloud, 4G, smartphones, social networking and other are constantly changing the way consumer behaves due to which Consumer Communication Services providers have increased their focus towards technology infrastructure, value added services and other customer support services.
The major factor driving the adoption of Consumer Communication Services is the high adoption of smart technologies among individuals. The technology engagement in the consumer services has changed the way for consumer support services.
Consumer Communication Services allow consumer to connect with other organizations on a real time basis such as insurance company can update consumer on claim processing, telecom providers can manage appointment notifications, healthcare providers can provide home care services and other.
The key challenge for Consumer Communication Service market is to manage revenue expenses. OTT players are offering various services due to which communication service providers have to manage the costly expansion of their networks to fulfill needs and demand of its customer.
Moreover enterprises have started deploying their business applications on cloud rather than on purchasing heavy machines which unnecessary increases the work of Consumer Communication Services providers.
In November 2016, Samsung acquired NewNet Communication technologies, a rich communication service provider. This acquisition will help Samsung to provide its clients better communication platform and deploymement of RCS enabled networks.
In September 2016, Salesforce and Cisco has entered into the partnership for cloud communication services. This partnership will help in providing advance communication solution by combining Cisco’s web based technology and audio technology with Salesforce’s cloud software.
In June 2016, Broadridge a financial solution provider has entered into the agreement to acquire DST a customer communication service provider. This acquisition will help Broadridge to increase its market postioning and improve its offering in digital communication.
In Consaumer Communication Service market there are many vendors some of them are Salesforce, Samsung, Fico, Metaswitch, FCA and others.
North America is holding the largest market share currently for Consumer Communication Services market due to high adoption of digital technologies among small and medium business. The adoption of cloud application and cloud platform is also impacting the market for Consumer Communication Service in a positive manner. Companies such as Samsung is also working towards the development of Consumer Communication Service platforms with the partnerships and acquisitions in this market to enhance market opportunities.
In Europe region, the market for Consumer Communication Services is witnessing high growth rate due to the increasing demand for social analytics and consumer support service for network operations, security management, and cloud application management.
The Asia Pacific region is following the Europe region in Consumer Communication Services market. This market is expected to have the highest growth rate in coming years due to the adoption of cloud based business application and growth in the cloud service providers.
Consumer Communication ServicesMarket Segments
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Segmentation on the basis of services:
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