Global Conversational Computing Platform Market is Forecasted to Grow at 32.3% in the Forecast Period of 2020 to 2027

Conversational Computing Platform Market is expected  to grow at 32.3% with factors such as growing adoption of Omni-Channel in the E-commerce sector is major factor attribute growth of the market. It has been witness the adoption of omni-channel platform has brought tremendous change in the consumers. This platform allow consumer to interact with brands which in turn allow business to remain competitive in the market

Conversational Computing Platform Market

Conversational computing platform market has shown an exceptional penetration in countries such as U.K. and Germany. The growing E-commerce sales in the U.K have increased the demand for the conversational computing platform. As the rising sales of E-commerce has increase the customer base for the company. To sustain their customers for longer period of time retail sector companies utilize this platform for enhancing customer satisfaction that will further keep the retail company competitive in the market.

Conversational Computing Platform Market Scenario

According to Data Bridge Market Research the market for conversational computing platform the market in North America region has the highest market share followed by Europe and Asia-Pacific. The market leader IBM Corporation accounts an estimated market share of approximately 24% to 25% of market share across the globe in the conversational computing platform market. The technology services & cloud platforms revenue of IBM Corporation has increased to USD 35,257 in 2018 from USD 34,934 million in 2017. The company has driven its competitive position and profit dynamics through strategic and continued investment in innovative technology. AI, data, analytics, cybersecurity and cloud has accounted more than half of company’s total revenue. The strategic investment of the company comprises of more than USD 5000 million in research and development, which led to IBM’s 26th consecutive year of U.S. patent leadership. IBM Corporation has been granted more than 1,600 patents, which are related to AI. IBM Watson-enabled technologies lead to better decision-making and market results through more than 20,000 client contributions spanning 20 sectors to date.

In late 2018, IBM Corporation has announced to plans to acquire Red Hat, which is the open source technology provider for the enterprise. Through this acquisition IBM would improve its role as the number one hybrid cloud provider in the world, helping customers access the cloud's full business quality. Along with this company is also continuing to pioneer innovations in speech processing, natural language processing and machine learning and computer vision.

Trends Impacting the Market

Conversational Computing Platform Market

Data Bridge Market Research has forecasted a large growth in Asia-Pacific conversational computing platform market and the market leaders targeting China and Japan to be their next revenue pockets for 2020.

Conversational computing platform market is becoming more competitive every year with companies like Alphabet,Inc.(Google) and Microsoft are the market leaders for Conversational Computing Platforms. The Data bridge market research new reports highlight the major growth factors and opportunities in the conversational computing platform market.

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New Conversational Computing Platform Market Developments in 2019

IBM corporation has launched Watson tools for agriculture applications in May 2019. This tool provides decision insights to agriculture, which can be helpful for harvesting, ploughing and planting crops.

Alphabet Inc.’s subsidiary google has confirmed Google Duplex AL technology in April 2019.

Artificial solutions have launched a portal for Teneo Developers in June 2019. This portal is launched to help developers which are frustrated by lack of intelligent design and capability of general chatbot marketplace

Scope of the Conversational Computing Platform Market

Conversational computing platform market is segmented on the basis of countries into U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India,South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Saudi Arabia, UAE, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).

All country based analysis of the conversational computing platform market is further analyzed based on maximum granularity into further segmentation. On the basis of technology, the market is segmented into natural language processing, natural language understanding, machine learning and deep learning and automated speech recognition. On the basis of deployment type, the market is segmented into cloud and on-premise. On the basis of application, the market is segmented into personal assistance, branding and advertisement, data privacy and compliance, customer engagement and retention, customer support, onboarding and employee engagement, booking travel arrangements and others. On the basis of vertical, the market is segmented into retail & ecommerce, banking, financial service and insurance, healthcare & life science, telecom, media & entertainment, travel & hospitality and others.

Conversational technology has transformed over the past few years which enables organization to resolve their business challenges and give personalized and engaging experience. Conversational computing platforms offer a feasible path by which different enterprises can bridge the gap between technological growth, customer service and user efficiency.

To know more about the study

Key Pointers Covered in the Conversational Computing Platform Market Industry Trends and Forecast to 2027

  • Market Size
  • Market Shares in different regions
  • Recent Developments for Market Competitors
  • Market Platform Recent market value for different regions
  • Market Platform key vendors and disruptors study
  • Market Platform Infrastructure Development

Key Market Competitors Covered in the Report

  • Alphabet Inc. (Google)
  • IBM Corporation
  • Microsoft
  • Nuance Communications, Inc
  • Tresm Labs
  • Apexchat
  • Artificial Solutions
  • Conversica, Inc
  • Haptik, Inc
  • Rulai
  • Cognizant
  • PolyAI Ltd
  • Avaamo
  • SAP SE
  • Cognigy GmbH
  • Botpress, Inc
  • 42Chat
  • Accenture
  •, Inc
  • Oracle
  • Omilia Natural Language Solutions Ltd

Above are the key players covered in the report to know about more and exhaustive list of Conversational Computing Platform companies contact us

Research Methodology: Global Conversational Computing Platform Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: BFSI, Retail, Healthcare, Telecom, Media & Entertainment industry, personal consumers.
  • Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.

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