Global Chatbot market is valued at USD 435.2 Million in 2018 and expected to reach USD 2306.3 Million by 2025 with a 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
Scope of Chatbot market Report:
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.
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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.
Key Players for Global Chatbot Market Report– Global chatbot market report covers prominent players are like Artificial Solutions, IBM Watson, Naunce Communications, eGainCoporation, Creative Virtual, Next IT Corp., CX Company, Speaktoit, Customer, Codebaby, Facebook, Nuance, IPsoft, Interactions, Botego, Ivee, Microsoft, Baidu, Jibo, EasilyDo, CogniCor, Living Actor (Cantoche), Google, Inbenta Technologies, Applied Voice & Speech Technologies and others.
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.
This report split global into several key Regions, revenue (Million USD) The geography (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) focusing on key countries in each region. It also covers market drivers, restraints, opportunities, challenges, and key issues in Global Chatbot Market.
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Global Chatbot Market Segmentation: –
Rest of Europe
Rest of Asia-Pacific
Table of Content
1. Chapter – Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description
2. Chapter – Global Chatbot Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. Global Chatbot Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Chatbot Market: Trends
2.8. Porter’s Five Forces Analysis
2.8.1. Bargaining Power of Suppliers
2.8.2. Bargaining Power of Consumers
2.8.3. Threat of New Entrants
2.8.4. Threat of Substitute Product and Services
2.8.5. Competitive Rivalry within the Industry
2.9. Market Attractiveness Analysis
2.9.1. Market Attractiveness Analysis by Segmentation
2.9.2. Market Attractiveness Analysis by Region
3. Chapter – Global Chatbot Market Overview: Quantitative Analysis
4. Chapter – Global Chatbot Market Analysis: By Type
5. Chapter – Global Chatbot Market Analysis: By Technology
6. Chapter – Global Chatbot Market Analysis: By End-User
7. Chapter – Global Chatbot Market Analysis: By Manufacturer
8. Chapter –Chatbot Market: Regional Analysis
9. Chapter – Company Profiles
9.1. Artificial Solutions
9.1.2. Product portfolio
9.1.3. Chatbot Market Revenue (USD Million) and Market Share (%), 2014 – 2018
9.1.4. Chatbot Sales Market Share (%), 2014 – 2018
9.1.5. Business strategy
9.1.6. Recent developments
9.2. Artificial Solutions
9.3. IBM Watson
9.4. Naunce Communications
9.5. eGain Coporation
9.6. Creative Virtual
9.7. Next IT Corp.
9.8. CX Company
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