This Correspondence Management Solutions market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Correspondence Management Solutions market.
Over the years correspondence management has increasingly transformed itself to be one of the core business pillars for enterprises across industries. Across all industries from Banking & Financial Services to Public Sectors - real time and constant communication with client or other associated members in client value chain through correspondence management solution is witnessing ever increasing demand. However, in spite of being crucial, many enterprises over the years are not able to leverage crucial solution like correspondence management to automate certain parts of their processes to save cost for document aggregation and delivery; other than that by not adopting relevant correspondence solutions enterprises have also failed to gain advantage of reusing existing content and avoid duplication.
Real adoption of correspondence management solutions not only save cost, but also provide enterprise with options like compliance with ever changing government regulations, enhanced content efficiency, & better employee productivity. As going gets tough for enterprises and they are trying to save dollars from every opportunity, increasing uptake of correspondence management solutions can certainly improve the bottom line.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
In terms of vertical adoption of correspondence management, Financial Services and Public Sector entities are leading the charge and constitute more than 60% of the total market share in 2014. The key drivers for increasing uptake of correspondence management among public sector are increasing traction of electronic communication systems along with emphasis on digitization where old processes are getting streamlined by implementing new technologies. For financial services, increasing requirement of adhering to compliance is driving the correspondence management solution uptake.
Software License revenue primarily dominates the correspondence management market by holding more than 35% of the total correspondence management solution market opportunity; however for vendors this is an opportunity as the providers need to showcase this as an end-to-end solution; combination of software & services; FMI also noted that Service Providers with Case as a Service portfolio is witnessing preference in the market.
FMI in the upcoming report highlighted that there are several options how vendor can tap this opportunity. The Service Providers should try to go to the market through a solution approach by tying up with software houses and providing it as an end to end solution and behaving like a one stop shop for the correspondence management solution. Also, service providers can evaluate options of offering correspondence management solution as a service under their BPO portfolios.
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product type and distribution channels.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Several categories of providers are targeting correspondence management solution market;
- System Integrators like Cognizant, Accenture, Capgemini, CGI & Infosys
- Large Software houses like Adobe, EMC, HP, OPENTEXT, Oracle, Pitney Bowes, Metavanteetc
- Niche & Specialized vendors like Top Down Systems, Afa, Merlin, CEDAR etc
- Boutique System Integrators like SWORD, Gimmal, SynApps
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Middle East and Africa
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Correspondence Management Solutions report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Correspondence Management Solutions. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Correspondence Management Solutions report?
In addition to up-to-date market figures and customized of the Correspondence Management Solutions, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.