Correspondence Management System Market by Component, Delivery Channel (Email, Web, and SMS/MMS), Application (Mailroom Automation, Engineering Document Control), Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2023
[141 Pages Report] The correspondence management system market size expected to grow from USD 1.9 billion in 2018 to USD 3.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 12.6% during the forecast period. The demand expected to rise over the next 5 years owing to various factors, including the need for reducing planning and budgeting cycles. Moreover, automation of internal and external communication has been immensely growing with the rise of big data and analytics solutions. Furthermore, to efficiently execute real-time communication, organizations are rapidly adopting correspondence management solutions to manage all the correspondences.
Business need for any organization varies with the workforce they are employing and with the nature of its business. Companies, at times, need greater visibility into costs, resources, and performance, and requires to improve accuracy, efficiency, controls, and auditability. Correspondence management system automates and, thereby, offers speed and agility for delivering better insights about the customer and internal affairs. Digital transformation is helping organizations in meeting client’s requirements at a faster rate. The solutions enable businesses to enhance revenues by keeping the customers and shareholders informed through regular correspondence, thus leading to a higher adoption rate. Another factor accelerating the correspondence management system market growth is the emergence of new IT applications and infrastructure such as big data and advanced analytics. Furthermore, companies can leverage big data that helps make more accurate decisions through predictive capabilities of correspondence management system solutions.
Automation to accelerate the adoption of correspondence management system particularly for the industries that follow rule-based processes
The automated and personalized communication system is highly useful in managing the correspondences across industries, such as Banking, Financial Services and Insurance (BFSI), healthcare, and telecommunications and IT, as these industries follow defined, repeated, and rule-based processes. Automated communication system reduces inconsistencies and terminations of correspondences in the business environment, thereby enabling effective internal and external communication system. This, in turn, is boosting the growth of the correspondence management system market.
Correspondence management to mitigate the use of printed correspondence, thus, saving paper wastage
Considerable time wasted or used inefficiently in managing paper documentation, especially when a high percentage of the data is created and generated electronically. Correspondence management systems are a valuable solution for organizations as they help in reducing paper wastage, which in turn reduces the cost of printing. As a result, many organizations are increasingly transitioning to a paper-free environment. It can be efficiently achieved with the use of correspondence management systems.
Cloud deployment model to grow at the highest CAGR during the forecast period
The demand for the cloud-based deployment model is expected to be increasing rapidly. With availability and accessibility, cloud-based deployments are gaining traction. Another major reason for increasing cloud-based deployments is the transition of systems from both the large enterprises and small enterprises over the cloud. As it saves time and additional expenses and maintenance costs small enterprises, in particular, implement correspondence management system platforms using the cloud deployment model, as it enables them to focus on their core competencies rather than investing more capital on their IT infrastructure.
North America to account for the largest share of correspondence management system market during the forecast period.
The global market by region covers 5 major geographic regions: North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. North America constitutes the highest market share, owing to the growing adoption of automation as well as the increasing need for efficient customer and internal communication for better retention in multiple industry verticals, such as retail and eCommerce, BFSI, and government. The US and Canada are 2 two prominent markets in North America that are witnessing healthy adoption of advanced technologies, such as correspondence management system solutions.
Key Correspondence Management System Market Players
The market comprises major providers, such as IBM Corporation (IBM), Microsoft Corporation (Microsoft), Adobe Systems, Inc. (Adobe), Opentext Corporation (Opentext), Pitney Bowes (Pitney Bowes), Rosslyn Analytics (Rosslyn Analytics), Micropact (MicroPact), Fabasoft AG (Fabasoft), Newgen Software Technologies Limited (Newgen Software), Top Down Systems Corporation (Top Down Systems), Everteam, Xerox Corporation, Palaxo International LTD (Palaxo), and Catec (CATEC). 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.
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|
Report Metrics |
Details |
|
Market size available for years |
2016–2023 |
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Base year considered |
2017 |
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Forecast period |
2018–2023 |
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Forecast units |
Million (USD) |
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Segments covered |
Delivery Channel, Component, Application, Deployment Model, Organization Size, Industry Vertical, and Region |
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Geographies covered |
North America, Europe, APAC, MEA, and Latin America |
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Companies covered |
IBM (US), Microsoft (US), Adobe (US), OpenText (Canada), Pitney Bowes (US) Rosslyn Analytics (England), MicroPact (US), Fabasoft (Austria), NewGen (India), Everteam (France), Xerox (US), Palaxo International LTD (Palaxo), Top Down Systems (US), IT-Blocks (Egypt), and CATEC (UAE) |
This research report categorizes the market based on delivery channel, component, application, deployment mode, organization size, industry verticals, and regions.
Correspondence Management System Market by Component:
- Software
- Services
By Delivery Channel, the Market has the following segments:
- Email-based
- Web-based
- SMS/MMS-based
Correspondence Management System Market by Application:
- Mailroom automation
- Diplomatic bag
- Engineering document control
By Industry Vertical, the market has the following segments:
- BFSI
- Telecom and IT
- Government and Public Sector
- Energy and Utilities
- Manufacturing and Automotive
- Retail and eCommerce
- Healthcare
- Real-Estate
- Others*
By Regions, the Correspondence Management System Market has the following segments:
- North America
- Europe
- APAC
- MEA
- Latin America
Recent Developments:
- In February 2019, MicroPact upgraded its platform by launching a new version entellitrak 3.30. The new upgrade would help customers build their applications.
- In January 2019, OpenText acquired Liaison, a cloud-based integration and data management company. This acquisition would strengthen OpenText’s application network product offerings in the areas of SaaS, cloud, mobile, and omnichannel. Moreover, ALLOY platform of Liaison would be integrated into OpenText Business Network.
Key questions addressed in the report:
- What are the opportunities in the correspondence management system market?
- What is the competitive landscape in the market?
- What are the regulations that will impact the market?
- How are mergers and acquisitions evolving the market?
- What are the dynamics of the market?
Frequently Asked Questions (FAQ):
What is Correspondence Management System?
What is the projected market value of Correspondence Management System Market?
What are the major revenue pockets in the global Correspondence Management System Market currently?
Which are Leading Companies in Correspondence Management System Market?
What are the applications in Correspondence Management System Market?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 18)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology (Page No. - 22)
2.1 Research Data
2.2 Key Data From Secondary Sources
2.2.1 Secondary Data
2.2.2 Primary Data
2.2.2.1 Breakup of Primary Profiles
2.2.2.2 Key Industry Insights
2.3 Market Breakup and Data Triangulation
2.4 Market Size Estimation
2.5 Microquadrant Research Methodology
2.6 Vendor Inclusion Criteria
2.7 Market Forecast
2.8 Assumptions for the Study
2.9 Limitations of the Study
3 Executive Summary (Page No. - 31)
4 Premium Insights (Page No. - 36)
4.1 Attractive Market Opportunities in the Correspondence Management System Market
4.2 Market Share Across Regions
5 Market Overview and Industry Trends (Page No. - 37)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Need for Automating and Personalizing Communication Systems
5.2.1.2 Timely and Secured Internal and External Communications
5.2.2 Restraints
5.2.2.1 Siloed Data and Disparate Systems Affecting Data Integration
5.2.3 Opportunities
5.2.3.1 E-correspondence Management System Helps in Reducing Paper Wastage
5.2.3.2 Compliance Adherence to Enhance Customer Trust
5.2.4 Challenges
5.2.4.1 Lack of Technical Expertise
5.3 Industry Trends
5.3.1 Regulations
5.3.1.1 Health Insurance Portability and Accountability Act
5.3.1.2 Health Information Technology for Economic and Clinical Health Act
5.3.1.3 Gramm-Leach-Bliley Act
5.3.1.4 Federal Information Security Management Act
5.3.1.5 EU General Data Protection Regulation
6 Correspondence Management System Market By Component (Page No. - 42)
6.1 Introduction
6.2 Software
6.2.1 Correspondence Management System Software to Become A Vital Tool for Organizations to Quickly Connect With Their Targeted Audience
6.3 Services
6.3.1 Managed Services
6.3.2 Professional Services
6.3.2.1 Deployment and Integration
6.3.2.1.1 Increasing Need for Effective Deployment to Drive the Deployment and Integration Segment
6.3.2.2 Support and Maintenance
6.3.2.2.1 Increasing Complexity of Operations and Need for Regular Assistance During the Software Life Cycle to Boost the Growth of the Support and Maintenance Segment
7 Correspondence Management System Market By Delivery Channel (Page No. - 50)
7.1 Introduction
7.2 Email-Based
7.2.1 Need for Effective Communication Channel to Boost the Growth of Email-Based Correspondence Management System
7.3 Web-Based
7.3.1 Increasing Need for Secured Customer Communication to Fuel the Growth of Web-Based Correspondence
7.4 SMS/MMS-Based
7.4.1 Growing BYOD Adoption to Spur Demand for SMS/MMS-Based Correspondences
8 Correspondence Management System Market By Deployment Model (Page No. - 55)
8.1 Introduction
8.2 On-Premises
8.2.1 Data Privacy and Security to Aid the Growth of On-Premises Deployment
8.3 Cloud
8.3.1 Universal Access to Correspondence Management System Platform to Drive the Adoption of Cloud Deployment Model
9 Correspondence Management System Market By Organization Size (Page No. - 59)
9.1 Introduction
9.2 Large Enterprises
9.2.1 Regulations to Boost Large Enterprises’ Adoption of Correspondence Management Systems
9.3 Small and Medium-Sized Enterprises
9.3.1 Cost Efficient Cloud Based Solutions to Drive Adoption of Correspondence Management Systems
10 Correspondence Management System Market By Industry Vertical (Page No. - 63)
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.2.1 Focus on Offering Real-Time Customer Services and Growth of Fintech to Have A Huge Impact on the BFSI Industry Vertical
10.3 Telecom and IT
10.3.1 Focus on Managing Customer Communications Through Voluminous Content to Drive the Adoption of the Correspondence Management System
10.4 Government and Public Sector
10.4.1 Re-Engineered Traditional Models and Improvement in Real-Time Interactions to Drive the Adoption of Correspondence Management System
10.5 Energy and Utilities
10.5.1 Need for Effective Communication Solution to Drive Adoption of Correspondence Management System in Energy and Utilities Vertical
10.6 Manufacturing and Automotive
10.6.1 Correspondence Management System Tools to Help Companies Understand and Identify Early Warning Signals and Reduce the Overall Cost
10.7 Retail and eCommerce
10.7.1 Increasing Adoption of Advanced Technologies By Retail and eCommerce Enterprises to Drive Market
10.8 Healthcare
10.8.1 Digital Revolution in Healthcare to Drive the Adoption of Correspondence Management System
10.9 Real Estate
10.9.1 Increasing Need for Managing Data to Drive the Adoption of Correspondence Management System
10.10 Others
11 Correspondence Management System Market By Application (Page No. - 74)
11.1 Introduction
11.2 Mailroom Automation
11.2.1 Advantage of Faster Turn Around Time for Customers to Drive Mailroom Automation
11.3 Diplomatic Bag
11.3.1 Increased Need for Secured Customer Communication to Boost Diplomatic Bag Application Growth
11.4 Engineering Document Control
11.4.1 Growing Need for Managing Critical Correspondences to Fuel the Growth of Engineering Document Control
12 Correspondence Management System Market By Region (Page No. - 79)
12.1 Introduction
12.2 North America
12.2.1 United States
12.2.1.1 Demand for High-Performance Communication Management Solution to Drive the US Market
12.2.2 Canada
12.2.2.1 Rising Adoption of Innovative Delivery Methods to Drive Market in Canada
12.3 Europe
12.3.1 United Kingdom
12.3.1.1 Need to Improve Customer Experience and Steady Performance in Abnormal Conditions to Drive the Market
12.3.2 France
12.3.2.1 Supportive Government Initiatives and Increased Spending to Boost the Market Growth in France
12.3.3 Germany
12.3.3.1 Government Regulations and Digitalization to Fuel the Market Growth in Germany
12.3.4 Spain
12.3.4.1 Adoption of Advanced Technologies to Drive the Market in Spain
12.3.5 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.1.1 Need to Further Enhance Customer Experience to Drive the Correspondence Management System Market in Japan
12.4.2 Singapore
12.4.2.1 Digitization to Lead for Efficient Business Process Management in Singapore
12.4.3 China
12.4.3.1 Adoption of Emerging Technologies to Drive the Market in China
12.4.4 India
12.4.4.1 Growing Technological Investments to Accelerate Adoption of Correspondence Management System in India
12.4.5 Rest of Asia Pacific
12.5 Latin America
12.5.1 Brazil
12.5.1.1 Growing online Businesses to Spur Demand for Correspondence Management System
12.5.2 Mexico
12.5.2.1 Growing Investments and Business Expansions to Fuel the Market Growth in Mexico
12.5.3 Rest of Latin America
12.6 Middle East and Africa
12.6.1 Middle East
12.6.1.1 Business Automation to Drive the Correspondence Management System Market in the Region
12.6.2 Africa
12.6.2.1 Rapidly Transforming Business Landscape and Startups to Accelerate the Market Growth in Africa
13 Competitive Landscape (Page No. - 105)
13.1 Microquadrant Overview
13.1.1 Visionaries
13.1.2 Innovators
13.1.3 Dynamic Differentiators
13.1.4 Emerging Companies
13.1.5 Strength of Product Portfolio Adopted By Major Players in the Market
13.1.6 Business Strategy Excellence Adopted By Major Players in the Correspondence Management System Market
14 Company Profiles (Page No. - 109)
(Business Overview, Platforms and Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
14.1 IBM
14.2 Adobe
14.3 Microsoft
14.4 OpenText
14.5 Rosslyn Analytics
14.6 Pitney Bowes
14.7 Fabasoft
14.8 NewGen
14.9 MicroPact
14.10 CATEC
14.11 Everteam
14.12 Xerox
14.13 Palaxo
14.14 Top Down Systems
14.15 IT-Blocks
*Details on Business Overview, Platforms and Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
15 Appendix (Page No. - 134)
15.1 Key Insights of Industry Experts
15.2 Discussion Guide
15.3 Knowledge Store: MarketsandMarkets’ Subscription Portal
15.4 Available Customization
15.5 Related Reports
15.6 Author Details
List of Tables (80 Tables)
Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Evaluation Criteria
Table 3 Factor Analysis
Table 4 Correspondence Management System Market Size and Growth Rate, 2016–2023 (USD Million, Y-O-Y %)
Table 5 Market Size By Component, 2016–2023 (USD Million)
Table 6 Software: Market Size By Region, 2016–2023 (USD Million)
Table 7 Services: Market Size By Type, 2016–2023 (USD Million)
Table 8 Services: Market Size By Region, 2016–2023 (USD Million)
Table 9 Managed Services Market Size, By Region, 2016–2023 (USD Million)
Table 10 Professional Services Market Size, By Type, 2016–2023 (USD Million)
Table 11 Professional Services Market Size, By Region, 2016–2023 (USD Million)
Table 12 Deployment and Integration Market Size, By Region, 2016–2023 (USD Million)
Table 13 Support and Maintenance Market Size, By Region, 2016–2023 (USD Million)
Table 14 Correspondence Management System Market Size By Delivery Channel, 2016–2023 (USD Million)
Table 15 Email-Based: Market Size By Region, 2016–2023 (USD Million)
Table 16 Web-Based: Market Size By Region, 2016–2023 (USD Million)
Table 17 SMS/MMS-Based: Market Size By Region, 2016–2023 (USD Million)
Table 18 Market Size By Deployment Model, 2016–2023 (USD Million)
Table 19 On-Premises: Market Size By Region, 2016–2023 (USD Million)
Table 20 Cloud: Market Size By Region, 2016–2023 (USD Million)
Table 21 Correspondence Management System Market Size By Organization Size, 2016–2023 (USD Million)
Table 22 Large Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 23 Small and Medium-Sized Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 24 Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 25 Banking, Financial Services, and Insurance: Market Size By Region, 2016–2023 (USD Million)
Table 26 Telecom and IT: Market Size By Region, 2016–2023 (USD Million)
Table 27 Government and Public Sector: Market Size By Region, 2016–2023 (USD Million)
Table 28 Energy and Utilities: Market Size By Region, 2016–2023 (USD Million)
Table 29 Manufacturing and Automotive: Market Size By Region, 2016–2023 (USD Million)
Table 30 Retail and eCommerce: Market Size By Region, 2016–2023 (USD Million)
Table 31 Healthcare: Market Size By Region, 2016–2023 (USD Million)
Table 32 Real Estate: Market Size By Region, 2016–2023 (USD Million)
Table 33 Others: Market Size By Region, 2016–2023 (USD Million)
Table 34 Correspondence Management System Market Size By Application, 2016–2023 (USD Million)
Table 35 Mailroom Automation: Market Size By Region, 2016–2023 (USD Million)
Table 36 Diplomatic Bag: Market Size By Region, 2016–2023 (USD Million)
Table 37 Engineering Document Control: Market Size By Region, 2016–2023 (USD Million)
Table 38 Correspondence Management System Market Size By Region, 2016–2023 (USD Million)
Table 39 North America: Market Size By Component, 2016–2023 (USD Million)
Table 40 North America: Market Size By Service, 2016–2023 (USD Million)
Table 41 North America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 42 North America: Market Size By Delivery Channel, 2016–2023 (USD Million)
Table 43 North America: Market Size By Application, 2016–2023 (USD Million)
Table 44 North America: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 45 North America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 46 North America: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 47 North America: Market Size By Country, 2016-2023 (USD Million)
Table 48 Europe: Correspondence Management System Market Size By Component, 2016–2023 (USD Million)
Table 49 Europe: Market Size By Service, 2016–2023 (USD Million)
Table 50 Europe: Market Size By Professional Service, 2016–2023 (USD Million)
Table 51 Europe: Market Size By Delivery Channel, 2016–2023 (USD Million)
Table 52 Europe: Market Size By Application, 2016–2023 (USD Million)
Table 53 Europe: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 54 Europe: Market Size By Organization Size, 2016–2023 (USD Million)
Table 55 Europe: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 56 Europe: Market Size By Country, 2016-2023 (USD Million)
Table 57 Asia Pacific: Correspondence Management System Market Size By Component, 2016–2023 (USD Million)
Table 58 Asia Pacific: Market Size By Delivery Channel, 2016–2023 (USD Million)
Table 59 Asia Pacific: Market Size By Service, 2016–2023 (USD Million)
Table 60 Asia Pacific: Market Size By Application, 2016–2023 (USD Million)
Table 61 Asia Pacific: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 62 Asia Pacific: Market Size By Organization Size, 2016–2023 (USD Million)
Table 63 Asia Pacific: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 64 Asia Pacific: Market Size By Country, 2016–2023 (USD Million)
Table 65 Latin America: Correspondence Management System Market Size By Component, 2016–2023 (USD Million)
Table 66 Latin America: Market Size By Delivery Channel, 2016–2023 (USD Million)
Table 67 Latin America: Market Size By Service, 2016–2023 (USD Million)
Table 68 Latin America: Market Size By Application, 2016–2023 (USD Million)
Table 69 Latin America: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 70 Latin America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 71 Latin America: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 72 Latin America: Market Size By Country, 2016–2023 (USD Million)
Table 73 Middle East and Africa: Correspondence Management System Market Size By Component, 2016–2023 (USD Million)
Table 74 Middle East and Africa: Market Size By Delivery Channel, 2016–2023 (USD Million)
Table 75 Middle East and Africa: Market Size By Service, 2016–2023 (USD Million)
Table 76 Middle East and Africa: Market Size By Application, 2016–2023 (USD Million)
Table 77 Middle East and Africa: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 78 Middle East and Africa: Market Size By Organization Size, 2016–2023 (USD Million)
Table 79 Middle East and Africa: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 80 Middle East and Africa: Market Size By Sub-Region, 2016–2023 (USD Million)
List of Figures (36 Figures)
Figure 1 Correspondence Management System Market: Research Design
Figure 2 Bottom-Up and Top-Down Approaches
Figure 3 Market to Witness Prominent Growth During the Forecast Period
Figure 4 Market By Component (2018–2023)
Figure 5 Market By Delivery Channel (2018–2023)
Figure 6 Market By Organization Size (2018–2023)
Figure 7 Market By Deployment Model (2018–2023)
Figure 8 Correspondence Management System Market By Industry Vertical (2018–2023)
Figure 9 Increasing Automation Across Industries to Help Accelerate the Growth of the Market
Figure 10 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 11 Drivers, Restraints, Opportunities, and Challenges
Figure 12 Software Segment to Account for A Larger Market Size During the Forecast Period
Figure 13 Professional Services Segment to Hold A Larger Market Size During the Forecast Period
Figure 14 Deployment and Integration Segment to Account for A Larger Market Size By 2023
Figure 15 Email-Based Segment to Account for the Largest Market Size During the Forecast Period
Figure 16 Cloud Deployment Model to Grow at A Higher CAGR During the Forecast Period
Figure 17 Small and Medium-Sized Enterprises to Grow at A Higher CAGR During the Forecast Period
Figure 18 Banking, Financial Services, and Insurance Industry Vertical to Account for the Largest Market Size During the Forecast Period
Figure 19 Mailroom Automation Segment to Account for the Largest Market Size During the Forecast Period
Figure 20 North America to Lead the Correspondence Management System Market in 2018
Figure 21 North America: Market Snapshot
Figure 22 Asia Pacific: Market Snapshot
Figure 23 Correspondence Management System Market Competitive Leadership Mapping, 2018
Figure 24 IBM: Company Snapshot
Figure 25 SWOT Analysis: IBM
Figure 26 Adobe: Company Snapshot
Figure 27 SWOT Analysis: Adobe
Figure 28 Microsoft: Company Snapshot
Figure 29 SWOT Analysis: Microsoft
Figure 30 OpenText: Company Snapshot
Figure 31 SWOT Analysis: OpenText
Figure 32 Rosslyn Analytics: Company Snapshot
Figure 33 Pitney Bowes: Company Snapshot
Figure 34 SWOT Analysis: Pitney Bowes
Figure 35 Fabasoft: Company Snapshot
Figure 36 Newgen: Company Snapshot
The study involved 4 major activities in estimating the current market size for the global correspondence management system market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources, such as D&B Hoovers and Bloomberg BusinessWeek, have been referred to for identifying and collecting information for this study. Secondary sources included annual reports; press releases and investor presentations of companies; whitepapers, certified publications and articles by recognized authors; gold standard and silver standard websites; Research and Development (R&D) organizations; regulatory bodies; and databases.
Primary research
Various primary sources from both supply and demand sides of the correspondence management system market ecosystem were interviewed to obtain qualitative and quantitative information for this study. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various vendors providing the correspondence management system associated service providers, and system integrators operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Following is the breakup of the primary respondents’ profiles:
To know about the assumptions considered for the study, download the pdf brochure
Correspondence Management System Market Size Estimation
For making market estimates and forecasting the correspondence management system market and the other dependent submarkets, the top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall market size of the global market using key companies’ revenues and their offerings in the market. The research methodology used to estimate the market size includes the following:
- The key players in the market have been identified through extensive secondary research.
- The market size, in terms of value, has been determined with the help of the primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.
Report Objectives
- To define, describe, and forecast the correspondence management system market based on delivery channel, component, application, deployment mode, organization size, industry verticals, and regions
- To provide detailed information related to the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market
- To analyze the market’s subsegments concerning the individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the correspondence management system market for stakeholders and provide the competitive landscape of the market
- To forecast the revenue of the market’s segments concerning 5 major regions, namely, North America, Europe, Middle East and Africa (MEA), Asia Pacific (APAC), and Latin America
- To profile the key players and comprehensively analyze their recent developments and positioning in the market
- To analyze the competitive developments, such as mergers and acquisitions, new product developments, and R&D activities in the market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
- Product matrix gives a detailed comparison of the product portfolio of each company
Company Information
- Detailed analysis and profiling of additional market players up to 5
Growth opportunities and latent adjacency in Correspondence Management System Market