DUBLIN–(BUSINESS WIRE)–The “Correspondence Management System Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Correspondence Management System Market is expected to register a CAGR of 14% over the forecast period 2021 to 2026.
Companies Mentioned
IBM Corporation Adobe Inc. Microsoft Corporation OpenText Corporation Rosslyn Data Technologies Inc. Pitney Bowes Inc. Newgen Software Technologies Limited Fabasoft AG MicroPact Inc. Everteam SAS Ademero, Inc. Blue Project Software Inc. Xerox Holdings Corporation Palaxo International Ltd. Top Down Systems Corporation Harvest Technology Group Key Market Trends
Government and Public Sector to Account for the Dominant Market Share
The government and public sector industry vertical covering all the government institutions and agencies. These organizations’ responsibilities are to interact with tax collection, public, safety, education, interest, and others. These communications are conducted through several correspondences, such as letters, emails, bills, invoices, fax, agreements, and contracts. For instance, organizations like Harvest Technology Group Inc. provides document management solutions for public sector clients in local governments, Health and Human Service, Public Safety, Court Systems, Community Development, and Geographic Information Systems. Also, iCasework’s highly configurable Correspondence Management solution allows for secure and scalable management of Parliamentary Questions, Subject Access, Complaints, FOI, Treat Official, Ministerial, and Inter-Departmental correspondence. Now one can manage all correspondence types through a single solution. According to Microsoft Corporation, in cases with stringent timelines, such as Freedom of Information Act (FOIA) requests, robust and easy-to-use dashboards to Government and Public Sector, provide users real-time visibility and direct insight into what actions are being taken, when and by whom hence, improving accountability and reducing missed deadlines by up to 30% within a year of deployment. Most of the organizations pertaining to government and public sector lose hundreds of daily interactions. Moreover, they fail to follow up on critical communications. Hence, government and public organizations are moving toward an efficient correspondence management system to streamline the complete lifecycle of correspondences. North America to Drive the Correspondence Management System Market
North America constitutes the largest market share, owing to the growing adoption of automation as well as the increasing need for the 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. For instance, according to Microsoft Corporation, in the region, automation, and simplified collaboration makes time and resource management more effective and more productive. For example, the United States Air Force singly saved nearly USD 1.4 million yearly by streamlining task management and communication among teams departments and teams. To avoid manual processes in business that might bring down operations in significant industry verticals such as IT & telecom, they would require adopting the correspondence management system. The correspondence management system efficiently organizes, manage, search, track, and report on correspondence and action plans. Prominent global vendors of Correspondence Management System Market in the region are IBM, Microsoft, Adobe, OpenText, Pitney Bowes, MicroPact, Xerox, and Top Down Systems song others. Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Need for Automating and Personalizing Communication Systems
4.2.2 Convenient and Secured Internal and External Communications
4.3 Market Restraints
4.3.1 Cellar Data and Disparate Data Systems Impacting Data Integration augmented by Lack of Technical Expertise
4.4 Industry Attractiveness – Porter’s Five Forces Analysis
4.5 Industry Value Chain Analysis
5 MARKET SEGMENTATION
5.1 By Component
5.1.1 Software
5.1.2 Services
5.2 By Delivery Channel
5.2.1 Web-based
5.2.2 Email-based
5.2.3 Other Delivery Channel (SMS/MMS-based)
5.3 By Industry Vertical
5.3.1 BFSI
5.3.2 Government & Public Sector
5.3.3 Telecom & IT
5.3.4 Healthcare
5.3.5 Retail & E-commerce
5.3.6 Other Industry Verticals
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Latin America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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