Global Correspondence Management System Market was valued at US$ 1.3Bn in 2017 and is expected to reach US$ 4.2Bn by 2026, at a CAGR of 15.79% during a forecast period.
for automating and personalizing communication systems and timely and secured internal and external communications. However, in spite of being vital, 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 benefit of reusing existing content and avoid duplication. Based on component, software segment id dominating the market for global correspondence management system. Software License revenue mostly dominates the correspondence management market by holding more than 37% of the total correspondence management solution market opportunity. On the basis of application, mailroom automation segment is expected to account for major share in terms of revenue in the correspondence management system market globally. Mailroom automation aids organizations classify their incoming correspondences as per their category, content and appearance, and send them to the respective department or the person. An organization receives thousands of correspondences and wants to conduct internal and external communications. So, it is very difficult for any organization to keep track of all the correspondences and respond to them. Additionally, the manual mail sorting process is very time-consuming and expensive to implement. In terms of region, North America is leading the correspondence management system market. The USA represents the highest potential market for correspondence management, followed by the UK and Germany. In Europe, Scandinavian countries have also demonstrated their interest in the solution in the recent past. Amongst emerging geographies, Brazil is slightly green field