Correspondence Management Solution is a comprehensive system which can be used to manage, and track all of the correspondence, documents or communications of an organisation. This includes both internal as well as external correspondence. The correspondence may include e-mails, scanned letters, documents, faxes and others. The automation of the correspondence and document management leads to better optimization of the business processes and decision making. Surge in digitisation of the businesses as well as growth in connectivity technology has led to growth of the correspondence management solution market. Although less awareness about the correspondence management solutions may act as a limiting factor for growth of the market. North America is currently the largest market of correspondence management solution.This growth is primarily driven by Surge in Digital Communication Solutions such as E-Mails and Growth of Digitisation and Adoption of Modern Technologies by Businesses.
Globally, a noticeable market trend is evident Mailroom Automation Accounts for Significant Stakes. Major Players, such as IBM Corporation (United States), Adobe Inc. (United States), Microsoft Corporation (United States), Xerox Holdings Corporation (United States), MicroPact Inc. (United States), Pitney Bowes (United States), Open Text Corporation (Canada), Fabasoft AG (Austria), Everteam (France) and Rosslyn Data Technologies (United Kingdom) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2019, OpenText Corporation, one of Canadaís largest software developer which specialises in development of enterprise information management software has announced acquisition of Carbonite for an amount of USD 1.4 Billion. Carbonite provides cloud backup solutions for both businesses and homes. The acquisition will consolidate OpenTextís standing in cloud computing market and further help it provide endpoint security and protection to its existing customers.
In 2021, IBM Corporation, a Global Tech Giant specialising in cloud computing and artificial intelligence along with other digital business solutions has announced signing of a definitive agreement to acquire myInvenio, a Process Mining and DTO provider. The acquisition will enable IBM to provide comprehensive AI-powered automation solutions for streamlining of the business processes as well as enhance its hybrid cloud computing solutions.
- Surge in Digital Communication Solutions such as E-Mails
- Growth of Digitisation and Adoption of Modern Technologies by Businesses
- Mailroom Automation Accounts for Significant Stakes
- Less Awareness about Correspondence Management Solution
SMEs Present Huge Opportunity to Develop as Automation of Back Door Office Tasks leads to Significant Saving in Costs
Dearth of Significant IT and Telecom Hardware in Developing Countries
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Correspondence Management Solution Study Sheds Light on
The Correspondence Management Solution Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Correspondence Management Solution industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Correspondence Management Solution industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Correspondence Management Solution Market?
The Correspondence Management Solution market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Correspondence Management Solution Market?
Top performing companies in the Global Correspondence Management Solution market are IBM Corporation (United States), Adobe Inc. (United States), Microsoft Corporation (United States), Xerox Holdings Corporation (United States), MicroPact Inc. (United States), Pitney Bowes (United States), Open Text Corporation (Canada), Fabasoft AG (Austria), Everteam (France) and Rosslyn Data Technologies (United Kingdom), to name a few.
3. Which region dominated the worldwide market for Correspondence Management Solution in 2020?
is dominating the Correspondence Management Solution Market.