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Detailed Examination Of The Chatbots Market Will Reach US$ 650 Mn By 2020 to 2030

Retailers and e-Commerce businesses are accelerating the procurement of chatbot solutions and services to bridge the gap of customization faced by customers while shopping online. Integration of chatbots to cater to customer needs dramatically advances customer experience and enables sellers to gain detailed insights into the personalization requirements of their customers. Chatbots also acknowledge customer intent, while facilitating the provision of relevant product recommendations. Apart from such web-based chatbots, high demand for contact center chatbots is being observed in the retail and e-Commerce arena.

The global chatbots market was valued at US$ 650 Mn in 2019, and is estimated to progress at a CAGR of approximately 20% during the forecast period of 2020 to 2030. This strong growth rate can be attributed to the high adoption of chatbots for marketing, sales, customer support, digital onboarding, and personal assistance. However, further advancements in natural language processing (NLP) and advanced cognitive conversational skills are required to ensure the high reliability of chatbots.

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Key Takeaways from Chatbots Market Study

  • High demand originating from banking, financial services and insurance (BFSI) and retail and e-Commerce industries is the primary factor contributing to the growth of the chatbots market on a global level.
  • Marketing- and sales-related applications of chatbots are projected to offer the most attractive opportunity for revenue generation during the forecast period.
  • Start-ups offering chatbot solutions and services are targeting small- and medium-sized enterprises to ensure consistent sales.
  • Dialog management skills, humanization, process automation abilities, interaction channels, and compliance and security regulations are the key aspects considered by prospects while procuring conversational platforms.
  • With the COVID-19 pandemic resulting in lockdowns and social distancing norms, the demand for chatbots that are efficient and come with self-service features is surging.

“Intelligent conversational platforms are finding new applications in the shared services arena. Vendors should focus on developing and deploying AI-integrated chatbots for enterprise shared services such as marketing, sales, and HR recruitment,” says a PMR analyst.

Companies covered in Chatbots Market Report

  • Nuance Communications
  • Google
  • AWS
  • Artificial Solutions
  • IBM Corporation
  • SnatchBot
  • Acquire.io
  • Chatfuel
  • Floatbot
  • Botsify
  • ChatterOn
  • Smartloop
  • Pandorabots
  • Flow XO
  • Boost.ai

 

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Global Market for Chatbots Market to Register Prominent Growth in Sales During 2017 – 2025

Chatbots Market: Introduction

Chatbot is a messaging application which animates a conversation between a human and a machine. Chatbots came into picture in 2011 by integration of business intelligence, artificial intelligence and messaging platforms. Considering a business point of view, it is a way for companies to interact with buyers and provide customer support which could evolve with changing nature of communication. There are two types of chatbots, one operates based on a particular script and other operates solely on artificial intelligence. The chatbots based on script have limited functionality as their intelligence is majorly dependent on the way its script is programmed, while those which operate on artificial intelligence understands and simultaneously learns from the conversation it has with human being. Chatbots are majorly used in ecommerce websites, social media platforms, gaming and mobile applications.

With the continuous evolvement in artificial intelligence, developers are making chatbots more human-like with personalities, capable of recognizing speech patterns and can interpret non-verbal cues to make interactions more effortless.

To remain ‘ahead’ of your competitors, request for a sample [email protected] https://www.persistencemarketresearch.com/samples/17944

Chatbots Market: Drivers and Challenges

The main driver from of chatbots market is that the growth of messaging apps exceeds that of social networks as the consumer behavior has shifted from social networks to messaging platforms such as SMS,  Facebook Messenger, and Apple iMessage. One of the biggest driver of chatbots market is that people are reluctant to install apps in their phones and chatbots allow them to interact with a business without downloading one. Another driver would be that they don’t have to be restricted to a specific channel and hence helps brands to leverage their omnichannel presence.

The major challenge faced by vendors in chatbots market is compatibility between bots created by different organizations and institutes as they have limited world knowledge and suffer while making choices and not be able to deliver what a consumer has asked for.

Chatbots Market: Segmentation

Chatbots market is mainly segmented on the basis of platform, end-user, and geography. On the basis of the platform, chatbots market is segmented as Stand-alone, Mobile, and Web based.

In the End user category, chatbots market is classified into two segments, one is enterprise size and other is vertical market. On the basis of enterprise size it is further segmented into large sized enterprise and medium and small sized enterprise. While on the basis of the vertical market it is categorized as BSFI, Government, Retail and E-commerce, Travel and hospitality, and others.

Region wise, chatbots market can be segmented into North America, Latin America, Asia Pacific, Japan, Eastern Europe, Western Europe, and Middle East & Africa.

Chatbots Market: Regional overview

North America is the leader in demand for chatbots and is expected to continue to do so, whereas Asia-Pacific is showing prolific growth in demand of chatbots due to massive usage of mobile phones in this region.

Chatbots Market: Key Market Players

The leading key players in chatbots market are Apple, Facebook, Google, Microsoft Corporation, Haptik, Kiwi, Yahoo, Astute Solutions, Slack Technologies, Creative virtual, Codebaby, Applied voice & Speech Technologies, and Artificial Solutions.

For critical insights on the keyword market, request for methodology here @ https://www.persistencemarketresearch.com/methodology/17944

The report covers exhaustive analysis on:

  • Chatbots Market Introduction
  • Chatbots Market Drivers
  • Chatbots Market Challenges
  • Chatbots Market Segmentation
  • End user Segments & Market share
  • Chatbots Platforms
  • Companies involved
  • Technical Compatibility with other organizations

Regional Analysis for Chatbots Market includes demand and development of this system in the following regions:

  • North America
    • USA
    • Canada
  • Latin America
    • Mexico
    • Brazil
    • Rest of Latin America
  • Western and Eastern Europe
    • Germany
    • Spain
    • Italy
    • United Kingdom
    • France
    • Benelux
    • Hungary
    • Rest of Western Europe
    • Rest of Eastern Europe
  • Asia-Pacific
    • China
    • India
    • Singapore
    • Japan
    • Australia
    • New Zealand
    • Rest of Asia
  • Middle East and North Africa
  • Rest of the World

The report is an assortment of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

  • Chatbots Market Segments
  • Chatbots Market Dynamics
  • Historical Actual Market Size, 2014 – 2016
  • Chatbots Size & Forecast 2017 To 2027
  • Supply & Demand Value Chain
  • Chatbots Market Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Chatbots Technology
  • Chatbots Systems Value Chain

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For Related Links @ https://www.persistencemarketresearch.com/category/ict.asp

Contact us:

305 Broadway, 7th Floor
New York City, NY 10007
United States

Ph.no. +1-646-568-7751

E-mail id- [email protected]

Website: https://www.persistencemarketresearch.com

 

Categories
All News Coronavirus News

Global Market for Chatbots Market to Register Prominent Growth in Sales During 2017 – 2025

Chatbots Market: Introduction

Chatbot is a messaging application which animates a conversation between a human and a machine. Chatbots came into picture in 2011 by integration of business intelligence, artificial intelligence and messaging platforms. Considering a business point of view, it is a way for companies to interact with buyers and provide customer support which could evolve with changing nature of communication. There are two types of chatbots, one operates based on a particular script and other operates solely on artificial intelligence. The chatbots based on script have limited functionality as their intelligence is majorly dependent on the way its script is programmed, while those which operate on artificial intelligence understands and simultaneously learns from the conversation it has with human being. Chatbots are majorly used in ecommerce websites, social media platforms, gaming and mobile applications.

With the continuous evolvement in artificial intelligence, developers are making chatbots more human-like with personalities, capable of recognizing speech patterns and can interpret non-verbal cues to make interactions more effortless.

To remain ‘ahead’ of your competitors, request for a sample [email protected] https://www.persistencemarketresearch.com/samples/17944

Chatbots Market: Drivers and Challenges

The main driver from of chatbots market is that the growth of messaging apps exceeds that of social networks as the consumer behavior has shifted from social networks to messaging platforms such as SMS,  Facebook Messenger, and Apple iMessage. One of the biggest driver of chatbots market is that people are reluctant to install apps in their phones and chatbots allow them to interact with a business without downloading one. Another driver would be that they don’t have to be restricted to a specific channel and hence helps brands to leverage their omnichannel presence.

The major challenge faced by vendors in chatbots market is compatibility between bots created by different organizations and institutes as they have limited world knowledge and suffer while making choices and not be able to deliver what a consumer has asked for.

Chatbots Market: Segmentation

Chatbots market is mainly segmented on the basis of platform, end-user, and geography. On the basis of the platform, chatbots market is segmented as Stand-alone, Mobile, and Web based.

In the End user category, chatbots market is classified into two segments, one is enterprise size and other is vertical market. On the basis of enterprise size it is further segmented into large sized enterprise and medium and small sized enterprise. While on the basis of the vertical market it is categorized as BSFI, Government, Retail and E-commerce, Travel and hospitality, and others.

Region wise, chatbots market can be segmented into North America, Latin America, Asia Pacific, Japan, Eastern Europe, Western Europe, and Middle East & Africa.

Chatbots Market: Regional overview

North America is the leader in demand for chatbots and is expected to continue to do so, whereas Asia-Pacific is showing prolific growth in demand of chatbots due to massive usage of mobile phones in this region.

Chatbots Market: Key Market Players

The leading key players in chatbots market are Apple, Facebook, Google, Microsoft Corporation, Haptik, Kiwi, Yahoo, Astute Solutions, Slack Technologies, Creative virtual, Codebaby, Applied voice & Speech Technologies, and Artificial Solutions.

For critical insights on the keyword market, request for methodology here @ https://www.persistencemarketresearch.com/methodology/17944

The report covers exhaustive analysis on:

  • Chatbots Market Introduction
  • Chatbots Market Drivers
  • Chatbots Market Challenges
  • Chatbots Market Segmentation
  • End user Segments & Market share
  • Chatbots Platforms
  • Companies involved
  • Technical Compatibility with other organizations

Regional Analysis for Chatbots Market includes demand and development of this system in the following regions:

  • North America
    • USA
    • Canada
  • Latin America
    • Mexico
    • Brazil
    • Rest of Latin America
  • Western and Eastern Europe
    • Germany
    • Spain
    • Italy
    • United Kingdom
    • France
    • Benelux
    • Hungary
    • Rest of Western Europe
    • Rest of Eastern Europe
  • Asia-Pacific
    • China
    • India
    • Singapore
    • Japan
    • Australia
    • New Zealand
    • Rest of Asia
  • Middle East and North Africa
  • Rest of the World

The report is an assortment of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

  • Chatbots Market Segments
  • Chatbots Market Dynamics
  • Historical Actual Market Size, 2014 – 2016
  • Chatbots Size & Forecast 2017 To 2027
  • Supply & Demand Value Chain
  • Chatbots Market Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Chatbots Technology
  • Chatbots Systems Value Chain

Pre-Book Right Now for Exclusive Analyst Support @ https://www.persistencemarketresearch.com/checkout/17944

For Related Links @ https://www.persistencemarketresearch.com/category/ict.asp

Contact us:

305 Broadway, 7th Floor
New York City, NY 10007
United States

Ph.no. +1-646-568-7751

E-mail id- [email protected]

Website: https://www.persistencemarketresearch.com

 

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Chatbots Market to Witness a Robust CAGR Growth Between 2017 – 2025

The global Chatbots market reached ~US$ xx Mn in 2020 and is anticipated grow at a CAGR of xx% over the forecast period 2019-2029. In this Chatbots market study, the following years are considered to predict the market footprint:

  • History Year: 2014 – 2020
  • Base Year: 2020
  • Estimated Year: 2019
  • Forecast Year: 2019 – 2025

The business intelligence study of the Chatbots market covers the estimation size of the market both in terms of value (Mn/Bn USD) and volume (x units). In a bid to recognize the growth prospects in the Chatbots market, the market study has been geographically fragmented into important regions that are progressing faster than the overall market. Each segment of the Chatbots market has been individually analyzed on the basis of pricing, distribution, and demand prospect for the Global region.

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key players in chatbots market are Apple, Facebook, Google, Microsoft Corporation, Haptik, Kiwi, Yahoo, Astute Solutions, Slack Technologies, Creative virtual, Codebaby, Applied voice & Speech Technologies, and Artificial Solutions.

The report covers exhaustive analysis on:

  • Chatbots Market Introduction
  • Chatbots Market Drivers
  • Chatbots Market Challenges
  • Chatbots Market Segmentation
  • End user Segments & Market share
  • Chatbots Platforms
  • Companies involved
  • Technical Compatibility with other organizations

Regional Analysis for Chatbots Market includes demand and development of this system in the following regions:

  • North America
    • USA
    • Canada
  • Latin America
    • Mexico
    • Brazil
    • Rest of Latin America
  • Western and Eastern Europe
    • Germany
    • Spain
    • Italy
    • United Kingdom
    • France
    • Benelux
    • Hungary
    • Rest of Western Europe
    • Rest of Eastern Europe
  • Asia-Pacific
    • China
    • India
    • Singapore
    • Japan
    • Australia
    • New Zealand
    • Rest of Asia
  • Middle East and North Africa
  • Rest of the World

The report is an assortment of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

  • Chatbots Market Segments
  • Chatbots Market Dynamics
  • Historical Actual Market Size, 2014 – 2016
  • Chatbots Size & Forecast 2017 To 2027
  • Supply & Demand Value Chain
  • Chatbots Market Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Chatbots Technology
  • Chatbots Systems Value Chain

Each market player encompassed in the Chatbots market study is assessed according to its market share, production footprint, current launches, agreements, ongoing R&D projects, and business tactics. In addition, the Chatbots market study scrutinizes the strengths, weaknesses, opportunities and threats (SWOT) analysis.

Report at a discounted price exclusively!!! Purchase before the offer ends!!!

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What insights readers can gather from the Chatbots market report?

  • A critical study of the Chatbots market on the basis of segment 1, segment 2 and segment 3.
  • Learn the behavior pattern of every Chatbots market player – product launches, expansions, collaborations and acquisitions in the market currently.
  • Examine and study the progress outlook of the global Chatbots landscape, which includes, revenue, production & consumption and historical & forecast.
  • Understand important drivers, restraints, opportunities, and trends (DROT Analysis).
  • Important trends, such as carbon footprint, R&D developments, prototype technologies, and globalization.

The Chatbots market report answers the following queries:

  1. Which players hold the significant Chatbots market share and why?
  2. What strategies are the Chatbots market players forming to gain a competitive edge?
  3. Why region is expected to lead the global Chatbots market?
  4. What factors are negatively affecting the Chatbots market growth?
  5. What will be the value of the global Chatbots market by the end of 2029?

For any queries get in touch with Industry Expert @ https://www.persistencemarketresearch.co/ask-an-expert/17944 

Why Choose Chatbots Market Report?

  1. Deliver updated information on the current industry trends
  2. Available 24/7 to facilitate clients with unbiased solutions
  3. Embrace digital technologies to offer accurate business ideas
  4. Exhaustive supply chain augmentation analysis
  5. Provide reports strictly according to the requirements of the clients