Market Overview

Cross-channel communication or cross-channel marketing is selling or promoting products on all possible medium such as social media, massaging apps, marketplaces, and others. There are three types of communication channel namely Omni channel, multi-channel, and cross channel. Multi-channel means selling or advertising the company’s product to the target audience by more than one channel. For instance, through newspaper, TV etc. These channels operate independently and there is no data sharing in between these channels. However, in cross channel, available channels share data among each other. For instance, if consumer orders a specific product on smartphone can continue ordering the same product form company’s website. This will give consumer hassle free experience for shopping, which will increase the traffic on their website. Moreover, to increase the sale of the products, companies are investing in cross channel communication service.

Another benefit of cross cannel communication is that a company can send consumer experience feedbacks on any available channel. For instance, instead of sending emails for feedback, companies can show pop up message in their smartphone apps. This will help companies to know the consumer better.

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Market Dynamics

Increasing demand of personalized communication services from companies is driving factor of cross-channel communication market. Consumer’s wants personalized services from brands, this can only provide with use cross channel communication. That’s why companies adopting cross-channel communication.

However, companies find it difficult to implement the cross-communication channel service at initial stages as companies have dedicated team for email channel handling and social media channel handling and it becomes difficult for the teams to collaborate with each other. This can be one of the restraining factors that can hamper the growth of cross-channel communication services market.

On the basis of region, cross-channel communication services market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America region held major share in the cross-channel communication services market in 2018 owing to large number of key players in the region, which include Ecrion Software, Conduent Inc., Paragon Communications, Enghouse Interactive Inc., Xerox Corporation, and others.

Moreover, Asia Pacific is expected to be the fastest growing region in the cross-channel communication services market over the forecast period, owing to increasing e-commerce market in the region. E-commerce companies sell their product through apps and website. To increase the sells e-commerce companies adopting cross-channel market. For instance, in December 2019, a report published by the World Bank, there is only 1.6% of sale by e-commerce market compared to 10.32% in the U.S., which makes India a huge potentially untapped market for e-commerce.

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Key players operating in the market include Ecrion Software, Conduent Inc., Neopost, Liquid State, MailTeck S.A., Infobip ltd., Paragon Communications, Enghouse Interactive Inc., Xerox Corporation, Engage Hub, Synertone Communication Corporation, and Others.

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