CEM market forecasted to hit $64.1B by 2035
NEW YORK, UNITED STATES — The customer experience management (CEM) market is on an upward trajectory as it is forecasted to reach US$64.1 billion by 2035 at a compound annual growth rate of 15.3%.
According to market research consulting firm Research Nester, enhancing customer experience across various digital platforms drives this growth.
Research indicates that 94% of satisfied customers are likely to return, emphasizing the role of CEM in ensuring repeat business.
Companies are also recognizing the value of the CEM market, with 89% focusing more on customer experience in their call centers. Research Nester added that firms focusing on customers report 61% higher profitability.
In regional terms, North America is expected to lead the market with its blend of online shopping and seamless cross-platform experiences.
Meanwhile, the Asia Pacific, fueled by China’s E-commerce explosion, is rapidly adopting CEM. The surge in online shopping and widespread use of mobile and social platforms positions it as a burgeoning e-retail hub.
From a tech standpoint, cloud-based CEM solutions are forecasted to lead the sector’s growth due to their adaptability and cost-effectiveness. With the digital shift globally, it’s projected that 85% of organizations will lean toward cloud solutions by 2025.
By 2035, the call center sector will likely be the top revenue contributor, benefiting from advancements like AI chatbots and tailored CRM systems.
