Global Chatbots Market, By Type (Software, Services), By Usage (Websites, Contact Centres, Social Media, Mobile Platform), By Industry Vertical (Financial Services, Healthcare, Communication, Retail, Travel and Hospitality, Government, Education, Utilities), By Deployment Type, By End User (Small and Medium Enterprises, Large Enterprises), By Geography– Industry Trends and Forecast to 2025
Market Analysis: Global Chatbots Market
The Global Chatbots Market is expected to reach USD 4125.3 Million by 2025, from USD 750.3 Million in 2017 growing at a CAGR of 36.5% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2018 to 2025.
Market Definition: Global Chatbots Market
This market report defines the market trends and forecast the upcoming opportunities and threats of the chatbots market in the next 8 years. Chatbots is a computer program designed to simulate chat with human users, over the Internet. It conducts conversation via auditing and textual messages. These are the computer programs that imitate conversation with people using artificial intelligence. The chatbot ecosystem includes several cross-linking features that enable enhanced performance of chatbots in various applications. Many companies prefer in-built chatbots on their websites as they facilitate companies in providing immediate customer interaction. Mostly slack and twitter messaging platforms are preferred by businesses. Chatbots allows companies to engross in continuous communication with their customers. Chatbots installed by the companies offer information related to product and brand, which helps the company to increase brand awareness, and inspire customers to sign up for the company's account. There is a huge growth for chatbots because large enterprises widely employ chatbot for digital marketing applications and for easy communication. The Kik Bot Store is going to launch chatbot with 16 bots, which will include the Weather Channel, H&M, Vine and Funny or Die.
Major Market Drivers and Restraints:
- Acceptance of cloud-based technology
- Increasing demand for automated patient management tools in the healthcare industry
- Penetration of websites and mobile applications are increased.
- Lack of awareness due to early presence in tech-adoption life cycle
- High deployment cost and system integration complexities
Market Segmentation: Global Chatbots Market
- The global chatbots market is segmented into type, industry vertical, usage, deployment type, end user and by geography.
- Based on type, the global chatbots market is segmented into software and services. Services are further segmented into professional services and managed services.
- On the basis of usage, the global chatbots market is segmented into websites, contact centres, social media, and mobile platform.
- On the basis of industry vertical, the global chatbots market is segmented into financial services, healthcare, communication, retail, travel and hospitality, government, education, utilities and others.
- On the basis of deployment type, the global chatbots market is segmented into on-premises and on-cloud.
- On the basis of end user, the global chatbots market is segmented into small and medium enterprises, large enterprises.
- Based on geography, the global chatbots market report covers data points for 28 countries across multiple geographies namely north America & south America, Europe, Asia-Pacific And, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Competitive Analysis: Global Chatbots Market
The global chatbots market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of chatbots market for global, Europe, North America, Asia pacific and South America.
Major Market Competitors/Players: Global Chatbots Market
Some of the major players operating in the global chatbots market are IBM, Nuance Communications, Inc., eGain Corporation., Creative Virtual Ltd., Artificial Solutions, Next IT Corp., 7.ai, Inc., CX Company, Speaktoit, Inc., iDAvatars, Baidu, Inc, Poncho, Kik., WeChat., Varo, Babylon, ReplyYes, SRI International, Inbenta Technologies Inc., Anboto, among others.
Research Methodology: Global Chatbots 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 inquiry.
Demand Side Primary Contributors: Software Developers, OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others