According to a report published by Everest Group, about 89% of organizations are adopting digital technologies to improve their customer relationship. The report also expects the compound annual growth rate to increase up to 20-22% for the customer experience market by 2025.
Along with customer experience, it is the employee experience that is taking the center stage as well. The factors driving this focus involve pandemic Covid-19, the growing expectations of the new generation, including Gen-Z. With organizations trying to cope with pandemic effects, the focus is on improving the productivity of employees and offering better resources in a remote-work environment. For employee experience, the projected CAGR is around 28-30% by 2025.
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In addition, the Everest Group reports a 22% increase in Digital Interactive Experiences by 2025, estimating around US$94-$96 billion. Augmented Reality, Virtual Reality, Machine Learning, Artificial Intelligence, Conversational Systems are some of the technologies that are playing a crucial role in transforming the stakeholder experience.
The findings are published in new research by Everest Group, named Digital Interactive Experience (IX) Services State of the Market Report 2021.