The ‘Chatbot Market’ research report delivers a comprehensive analysis on the newest market drivers. The report also offers extracts regarding statistics, market valuation and revenue estimates, which further strengthens its status in the competitive spectrum and growth trends embraced by leading manufacturers in the business.
Chatbot market is valued at USD 435.2 Million in 2018 and expected to reach USD 2306.3 Million by 2025 with the CAGR of 26.9% over the forecast period.
Growing popularity of online messaging applications is the key factor contributing to the growth of the Global Chatbot Market
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A chatbot is a computer program that stimulates human conversation through voice commands or text chats or both. It is an artificial intelligence feature that can insert and used through any major messaging application. It is an associate assistant that communicates through text messages, a virtual companion that participates into websites, applications or instant messengers and helps entrepreneurs to urge nearer to customers. Improved customer service, increased customer engagement, monitoring consumer data and gaining insights, easier approach to global markets are the benefits of this chatbot market. Even if live chat, self-service, social media, and chatbots are relatively lower in terms of raw volume, the growth of these channels are staggering. One of the most effective samples of a decent larva may be a computer programmer spider. The 80% of companies presently use or area unit going to use chatbots by 2020. Chatbots are used in numerous applications such as to program meetings, order online food, and provide customer support, and offer weather conditions and forecasting.
Global chatbot market report is segmented on the basis of type, platform, application and regional & country level. Based on type, the market is classified into software and services. Based on platform, global chatbot market is classified as mobile-based and web-based. By application, global chatbot market is classified as BFSI, healthcare, Retail, utilities and others.
The regions covered in this Global Chatbot market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Chatbot is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global chatbot market report covers prominent players are like
- Artificial Solutions
- IBM Watson
- Naunce Communications
- Creative Virtual
- Next IT Corp.
- CX Company
- Living Actor (Cantoche)
- Inbenta Technologies
- Applied Voice & Speech Technologies
Growing Popularity of Online Messaging Applications is the Key Factor Contributing to the Growth of the Global Chatbot Market.
Major factor driving the growth of global chatbot market is growing popularity of online messaging applications. The rapid ascent of this new wave of messaging apps reflects the extent to which various communication tools serve different social needs. Facebook maintains the two biggest platforms in the global messaging market; whatsapp have 900 million monthly active users; and messenger, with 700 million MAUs. Wechat, which is mostly used in china, ranks third with more than 600 million MAUs. Whatsapp delivered more than trillion messages in 2014, the equivalent to about 1000 messages for every person. Facebook paid $21.8 billion for the service, which now transfers at least fifty % a lot of messages than the complete world SMS system.
For example; Snap chat previously informed more than 100 million daily users but is supposed to be closer to 200 million nowadays, more specifically,72% of snap chat users are also active on Facebook Messenger 54% actively use what Sapp; and 51% are active on Skype. Facebook, Snap chat et al. have taken management from inheritance players, and they encourage a more direct and unencumbered approach to messaging. As AI improves, chatbots will raise as the solution for standardized communication channels. Chatbots can before long become one voice to unravel customer’s desires. Increasing acceptance of virtual assistance and additional messaging channels are anticipated to foster the chatbot market growth. Chatbots are the underlying technology behind IVAs. Iva’s area unit designed to simulate human communication, either text-based or voice-based, and to handle common inquiries and service requests in automated fashion. Chatbots area unit being progressively deployed across numerous business verticals that area unit adding fuel to the expansion of the market. However, the slow adoption rate, high deployment cost, and lack of expertise related to the services may hamper the growth of chatbot market. Moreover, increasing R&D activities in the field of artificial intelligence and chatbots is also a prominent growth driver. This is also supplementing the growth of chatbot market.
North America is Expecetd to Dominate the Global Chatbot Market
Geographically, the global Chatbot market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. North America is projected to dominate the chatbot market owing to the its increased adoption in gaming, healthcare and other sectors in this region. In addition, high investment in research and development in this field is also supplementing the market growth in this region. Europe is expecetd to witness a significant growth in this market owing to the increased growth of e-commerce market and presence of major players in this region.
Key Benefits for Market Report–
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
The global market report covers extensive analysis of emerging trends and competitive landscape.
Chatbot Market Segmentation
By Type:- Software, Services
By Platform:- Mobile-Based, Web-Based
By Application:- BFSI, Healthcare, Retail, Utilities, Others
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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Table of Content
Chapter 1 Global Chatbot Market: Summary and Quantitative Analysis
1.1 Report Description
1.2 Global Chatbot Market Revenue Overview
1.3 Global Chatbot Market Revenue (USD Billion) and Growth (%) Rate, 2015- 2025
Chapter 2 Global Chatbot Market: Overview and Qualitative Analysis
2.1 Executive Summary
2.2 Market Drivers
2.2.1 Increasing need to improve the process in order to comply with new standards is anticipated to witness a high growth of Chatbot Market
2.3 Market Restraints
2.4 Market Opportunities
2.5 Market Trends
2.6 Global Chatbot Market: SWOT Analysis
2.7 Global Chatbot Market: PEST Analysis
2.8 Global Chatbot Market: Attractiveness Analysis
2.8.1 Global Chatbot Market: Attractiveness Analysis by Type
2.8.2 Global Chatbot Market: Attractiveness Analysis by Grade
2.8.3 Global Chatbot Market: Attractiveness Analysis by Regional
Chapter 3 Competitive Analysis
3.1 Global Chatbot Market
3.1.1 Global Chatbot market Revenue (USD Billion), By Players 2018
3.1.2 Global Chatbot Market Revenue Share (%), By Players 2018
Chapter 5 Global Chatbot Market: By Types
5.1 Global Chatbot Market Share (%), By Types, 2018
5.2 Global Chatbot Market Revenue (USD Billion), By Types, 2015 – 2025
5.3 Global Chatbot Market Revenue (USD Billion), Based,2015-2025
5.4 Global Chatbot Market Revenue (USD Billion), Based,2015-2025
5.5 Global Chatbot Market Revenue Share (%), By Types, 2015 – 2025
5.6 Global Chatbot Market Revenue Market Share (%), By Types, 2015-2025
Chapter 6 Global Chatbot Market: By Application
6.1 Global Chatbot Market Share (%), By Application, 2018
6.2 Global Chatbot Market Revenue (USD Billion), By Application, 2015 – 2025
6.3 Global Chatbot Market Revenue (USD Billion), Enterprises, 2015-2025
6.4 Global Chatbot Market Revenue (USD Billion),2015-2025
6.5 Global Chatbot Market Revenue Share (%), By Application, 2015 – 2025
6.6 Global Chatbot Market Revenue Market Share (%), By Application, 2015-2025
Chapter 7 North America Chatbot Market Analysis
7.1 North America Market Snapshot
7.1.1 North America Chatbot Market Revenue and Growth Rate (%), 2015-2025.
7.1.2 North America Chatbot Market Revenue (USD Billion) Overview, by Country, 2015 – 2025
7.1.3 North America Chatbot Market Revenue (USD Billion) and Growth Rate (%), 2015 – 2025.
7.1.4 North America Chatbot Revenue (USD Billion) Overview, by Type, 2015-2025
7.1.5 North America Chatbot Revenue (USD Billion) Overview, by Types, 2015-2025
7.1.6 North America Chatbot Revenue (USD Billion) Overview, by Application , 2015-2025
Chapter 8 Europe Chatbot Market Analysis
8.1 Europe Market Snapshot
8.1.1 Europe Chatbot Market Revenue and Growth Rate (%), 2015-2025.
8.1.2 Europe Chatbot Market Revenue (USD Billion) Overview, by Country, 2015 – 2025
8.1.3 Europe Chatbot Market Revenue (USD Billion) and Growth Rate (%), 2015 – 2025.
8.1.4 Europe Chatbot Revenue (USD Billion) Overview, by Type, 2015-2025
8.1.5 Europe Chatbot Revenue (USD Billion) Overview, by Types, 2015-2025
8.1.6 Europe Chatbot Revenue (USD Billion) Overview, by Application, 2015-2025
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