Global Chatbot Market Research Report 2020: COVID-19 Outbreak Impact Analysis
Brand Essence Market Research has developed a concise study on the Chatbot market to depict valuable insights related to significant market trends driving the industry. The report features analysis based on key opportunities and challenges confronted by market leaders while highlighting their competitive setting and corporate strategies for the estimated timeline.
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Global Chatbot market is valued at USD 435.2 Million in 2018 and expected to reach USD 2306.3 Million by 2026 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
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.
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 Reportâ€“ 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 customerâ€™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. Ivaâ€™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.
Geographically, 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.
Key Benefits for Chatbot Market Reports
â€¢ Global market report covers in-depth historical and forecast analysis.
â€¢ 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.
â€¢ Global market report helps to identify opportunities in market place.
â€¢ Global market report covers extensive analysis of emerging trends and competitive landscape.
Global Chatbot Market Segmentation:â€“
â€¢ North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o Latin America
o Middle East
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.
Chatbot Market Key Players:
â€¢ Artificial Solutions
â€¢ IBM Watson
â€¢ Naunce Communications
â€¢ eGain Coporation
â€¢ Creative Virtual
â€¢ Next IT Corp.
â€¢ CX Company
â€¢ Living Actor (Cantoche)
â€¢ Inbenta Technologies
â€¢ Applied Voice & Speech Technologies
This comprehensive report will provide:
â€¢ Enhance your strategic decision making
â€¢ Assist with your research, presentations and business plans
â€¢ Show which emerging market opportunities to focus on
â€¢ Increase your industry knowledge
â€¢ Keep you up-to-date with crucial market developments
â€¢ Allow you to develop informed growth strategies
â€¢ Build your technical insight
â€¢ Illustrate trends to exploit
â€¢ Strengthen your analysis of competitors
â€¢ Provide risk analysis, helping you avoid the pitfalls other companies could make
â€¢ Ultimately, help you to maximize profitability for your company.
Our Market Research Solution Provides You Answer to Below Mentioned Question:
â€¢ Which are the driving factors responsible for the growth of market?
â€¢ Which are the roadblock factors of this market?
â€¢ What are the new opportunities, by which market will grow in coming years?
â€¢ What are the trends of this market?
â€¢ Which are main factors responsible for new product launch?
â€¢ How big is the global & regional market in terms of revenue, sales and production?
â€¢ How far will the market grow in forecast period in terms of revenue, sales and production?
â€¢ Which region is dominating the global market and what are the market shares of each region in the overall market in 2017?
â€¢ How will each segment grow over the forecast period and how much revenue will these segment account for in 2026?
â€¢ Which region has more opportunities?
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The Essential Content Covered in the Global Chatbot Market Report:
* Top Key Company Profiles.
* Main Business and Rival Information
* SWOT Analysis and PESTEL Analysis
* Production, Sales, Revenue, Price and Gross Margin
* Market Share and Size
The report provides a 6-year forecast (2020-2026) assessed based on how the Chatbot market is predicted to grow in major regions like USA, Europe, Japan, China, India, Southeast Asia, South America, South Africa, Others.
Strategic Points Covered in TOC:
Chapter 1: Introduction, market driving force product scope, market risk, market overview, and market opportunities of the global Chatbot market.
Chapter 2: Evaluating the leading manufacturers of the global Chatbot market which consists of its revenue, sales, and price of the products.
Chapter 3: the competitive nature among key manufacturers, with market share, revenue, and sales.
Chapter 4: Presenting global Chatbot market by regions, market share and revenue and sales for the projected period.
Chapters 5, 6, 7, 8 and 9: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.
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