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Rising collaborations and acquisitions are reshaping the employee experience management industry, in addition to innovations and introduction of new projects from leading companies. Strategic partnerships between EXM providers and technology firms are helping combine expertise and resources to deliver comprehensive solutions to meet the evolving needs of modern workplaces.
These collaborations are also fostering the integration of cutting-edge technologies, such as AI, analytics, and automation into EXM platforms, for enabling organizations to enhance employee engagement, productivity, and satisfaction. To cite an instance, January 2024, Nexthink celebrated its 20th anniversary with the acquisition of AppLearn, a digital adoption leader, signaling a significant advancement in DEX.
The software segment generated over USD 3.5 billion in 2023, attributed to the growing adoption of EXM solutions powered by innovative software across organizations.
The market size of employee experience management reached USD 6.1 billion in 2023 and is set to grow at over 6.5% CAGR between 2024 and 2032, propelled by the rising number of surveys highlighting its significance.
North America accounted for more than 35% of the market share in 2023, with organizations placing a strong emphasis on employee satisfaction and productivity in the region.
Some of the top employee experience management firms are ADP, Cornerstone, OnDemand, IBM, Microsoft, Oracle, Qualtrics, Salesforce, ServiceNow, SurveyMonkey Enterprise, and Workday.