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Global Chatbots Market 2021 is expected to register a CAGR of 24.1%, during forecast period with Impact of Covid 19 Analysis

Chatbots

Global “Chatbots Market” Report 2021 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Chatbots in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Chatbots Market report categorizes the market based on manufacturers, regions, type, and application. Chatbots Market reports offer a detailed assessment of the Chatbots including enabling technologies, current market situation, market assumptions, restraining factors.

The Global Chatbots market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.

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Chatbots Market was worth USD 864.9 million in 2017 and is projected to reach USD 3146.4 million by 2023 growing at a CAGR of 24.1% over the period 2018 – 2023. The scope of the report is limited to type including solution and service, deployment including on-premise and cloud, and end-user verticals such as BFSI, healthcare, IT and telecommunication, retail, utilities, government, and others. The regions considered in the scope of the report include North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The study also emphasizes the benefits of chatbots in accordance with diverse application and future prospect of the same.

The evolution and utilization of artificial intelligence applications are skyrocketing owing to its numerous benefits offered and rising consumer base. The top messaging applications by users are WhatsApp, Facebook Messenger, Skype, and Slack. The rising number of messengers across the globe, the demand for chatbots which is capable of imitating human conversation and solving various tasks are on the rise. Numerous companies and startups are investing in the technology to ease their businesses and tackle customer’s queries. For instance, Chinese WeChat bots are increasingly used to make medical appointments, transfer money to friends, check in for a flight, and medical appointments. Voice recognition coupled with artificial intelligence is high on demand which can perform the tasks mentioned above without coming contact with the device which can also be helpful for SMEs thereby propelling the market growth over the forecast period. Furthermore, the industry players are betting on blockchain technology with chatbots which can enhance the potential and performance of these bots resulting in high consumer interaction with consumer acquisition.

Rising Utilization of Mobile and Website Applications

In today’s era, users are more relied on mobile and website application from booking an appointment to procuring information. Companies are betting on chatbots to enhance the consumer interface and experience by integrating with Facebook Messenger or WhatsApp. For instance, Goibibo, an India based travel company seamlessly integrated chatbots to WhatsApp messaging application wherein if a person books a flight through the company, user receives an automated WhatsApp message to confirm the seat allocation and meals preference further. Once the user selects the option, the preferred option(s) are registered in the system without logging into the application.

Cloud to be the Fastest Growing

The chatbots service based on the cloud offers high flexibility and scalability to the operations. Furthermore, the deployment on the cloud provides data access and instant analytics that can be used to take the crucial business decision(s). Currently, cloud services are preferred over on-premise hosting owing to reduced cost as some companies offer pay as you go service wherein the integrator pays only for their fair usage which is expected to propel the market growth over the next six years.

Asia Pacific to Witness the Highest Growth

In Asia Pacific region, there are numerous startups investing in the chatbots and machine learning technology. Additionally, small and mid-sized enterprises are rapidly integrating the usage of chatbots offering seamless performance, handling a large number of consumers, and enhancing the customer engagement techniques. The number of companies in the region adopting chatbots is increasing owing to rising demand for artificial intelligence thereby fuelling the market growth.

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The global Chatbots market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.

Chatbots Market Report covers the Top Key-players in 2021:-

  • IBM Corporation
  • eGain Corporation
  • Nuance Communications
  • Creative Virtual Ltd.
  • Artificial Solutions
  • Next IT Corp
  • ChattyPeople Chatbot
  • Smooch Technologies Inc.
  • MEOKAY
  • Botsify
  • Chatfuel
  • PullString Inc.
  • Bold360
  • Dialogflow
  • Amazon Web Services
  • Inc. (Amazon Lex)
  • LiveChat
  • Inc.
  • LivePerson
  • Inc.

Highlighted points of Chatbots Market Size:

  • Covers the varying market dynamics of the industry.
  • In-depth analysis of market risks, opportunities, limitations, and growth of the market.
  • Includes market driving and restraining factors.
  • Participants profiles along with product description, overview, and business data.
  • Include details of five years of forecast analysis by types, regions, and applications.

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This Chatbots Market Research/analysis Report Contains Answers to your following Questions

  • Which Manufacturing Technology is Used for Chatbots? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Chatbots Market? What’s Their Company Profile, Their Product Information, Contact Information?
  • What Was Global Market Status of Chatbots Market? What Was Capacity, Production Value, Cost and PROFIT of Chatbots Market?
  • What Is Current Market Status of Chatbots Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Chatbots Market by Taking Applications and Types in Consideration?
  • What Are Projections of Global Chatbots Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
  • What Is Chatbots Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Chatbots Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Chatbots Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Chatbots Industry?

Key Developments in the Chatbots Market: in Chatbots Market

  • May 2018: eGain launched Solve, a solution for Amazon Connect based on Amazon Web Services (AWS) cloud infrastructure which is expected to enhance the consumer experience and mitigate the latency

    Reasons to Purchase Chatbots Market Report

  • The future prospect of the chatbots market and opportunities
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Regional analysis of the market
  • Identify the latest developments, market shares and strategies employed by the major market players
  • 3-month analyst support along with the Market Estimate sheet (in Excel)

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    Finally, the report Global Chatbots Market 2021 describes the Chatbots industry expansion game plan, the Chatbots industry knowledge supply, appendix, analysis findings, and the conclusion.

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