Customer Experience Management Market Growing at a Rapid Pace by 2032 | Trends and Future Forecasting
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The global Customer Experience Management (CEM) market size is expected to reach USD 34.47 Billion in 2032 and register a steady revenue CAGR of 12.3% over the forecast period, according to latest analysis by Emergen Research. Rising adoption of Artificial Intelligence (AI) and Augmented Reality (AR) in industries, such as retail, Information Technology (IT) & telecom, Banking, Financial Services, and Insurance, among others, is a key factor driving market revenue. Customer experience plays a vital role in cultivating brand loyalty and retaining customers. A satisfying customer experience entails not only visiting the website or store again, but also the willingness to share positive feedback about the brand. This positive feedback not only encourages other customers to engage with the brand but also contributes to customer retention and acquisition. It is worth noting that acquiring new customers can cost 6 to 7 times more than retaining existing ones. Increasing customer rete