Middle East and Africa Conversational Computing Platform Market – Industry Trends and Forecast to 2030

Middle East and Africa Conversational Computing Platform Market, By Type (Solution, Service), Technology (Natural Language Processing, Natura Language Understanding, Machine Learning and Deep Learning, Automated Speech Recognition), Deployment Type (Cloud, On-Premise), Application (Customer Support, Personal Assistance, Branding and Advertisement, Customer Engagement and Retention, Booking Travel Arrangements, Onboarding and Employee Engagement, Data Privacy and Compliance, Others), Vertical (Banking, Financial Services, and Insurance, Retail and E-commerce, Healthcare and Life Sciences, Telecom, Media and Entertainment, Travel and Hospitality, Others) – Industry Trends and Forecast to 2030.

Middle East and Africa Conversational Computing Platform Market Analysis and Size

Conversational computing platform is progressively implemented for automatic conversational systems. These solutions provide easy and simple conversation between customer and Artificial intelligence (AI) system to deal with their problems and gain customer satisfaction. The media and entertainment and digital marketing industry are widely use conversational computing solutions for, advertising, information broadcasting, promotions and product discovery. Conversational computing platforms provide enhanced customer experience, lower cost of operations and automated resolutions which will aid the market to grow in the forecast period.

Data Bridge Market Research analyses that the conversational computing platform market is expected to reach USD 7,333.64 million by 2030, which is USD 932.92 million in 2022, at a CAGR of 29.40% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Middle East and Africa Conversational Computing Platform Market Scope and Segmentation

Market Definition

Conversational computing platforms are those computer based software programs which allow the communication between humans and computers over voice inputs or text inputs. Conversational computing platform includes several solutions such as chatbot virtual assistants through text or voice inputs. Conversational computing solutions are used in both procedures such as personal and business, because these procedures comprise multi-turn conversations.

Middle East and Africa Conversational Computing Platform Market

Drivers

• Rising application of conversational computing platform for personal purposes

The conversational computing platform is widely used for personal purposes such as for voice and assistants. The usage of conversational computing platform is not only limited to the voice assistant, but also used for messaging platforms such as WhatsApp, Facebook Messenger and many other messaging platforms. Other uses of conversational computing platform are setting reminders at the proper times based on the daily schedule of users. Consequently, growing demand of conversational computing platform for personal purposes is likely to drive the growth of the market during the forecast period.

• Surging usage of virtual digital assistance

Those customers which are communicating by using voice commands are highly using conversational computing platforms. One of the popular form of the conversational computing is chatbot. Chabot is becoming more popular for customer service and playing various tasks such as providing technical help, shopping and making trip reservations. Apple’s Siri, Microsoft’s Cortana and Amazon’s Alexa are few examples of automated assistants answering voice commands on mobile devices. Moreover, the growing usage of Chabot in the e-commerce sector is an important factor which will help to improve customer services is likely to boost the market growth in the forecast period. 

Opportunities

• Shifting consumer preferences toward online shopping

The major significant factor that increases the application of Chabot is the expanding e-commerce sector in the global market which eventually increase the demand for the conversational computing platform and create lucrative opportunities for the market growth. Apart from providing 24X7 service to the users, conversational computing platforms also help to analyze the purchasing preferences of consumers. Thus, the shifting consumer preferences toward online shopping and the increasing online purchasing power of the consumers are expected to enhance the growth of the conversational computing platform market.

• Increasing adoption of various advanced technologies

Increasing adoption of various advanced technologies is further likely to create ample lucrative opportunities for the market and will further increase the growth rate of the conversational computing platform market in upcoming years. Advanced technologies such as block chain bi-data analytics, artificial intelligence, machine learning are being used to make conversational computing platforms. These technologies are increasing because of their expanding use across various industries. All these factors are creating various growth opportunities for the market players during the forecast period.

Restraints

• Multiple issues associated with data safety, security and privacy

The large storage of data or information of clients puts conversational computing platform continuously at risk. The safety, security and privacy of client data is very crucial for the providers. Thus, the growing concerns regarding the issues associated with safety, security and privacy of data and undesirable actions by conversational computing platforms are projected to be a major challenge for the growth of the market during the forecast period.

• High implementation costs of smart technology

The implementation of smart technology require major financial investment. These technologies can be expensive to construct an infrastructure. Thus, the high costs and the investments required are further anticipated to obstruct growth of the market over the forecast period.

This conversational computing platform market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the conversational computing platform market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In 2019, Artificial Solutions started their partnership with Mobinology which is a leading service provider of AI in china region. With this partnership, Mobinology will gain high level of expertise in deployment of conversational AI applications. This will support the company in maintaining its presence in special administrative regions.
•  In 2019, Artificial Solutions declared their partnership with Capgemini, which is a multinational IT solution provider company. With this partnership, Capgemini uses Artificial Solutions’ conversational AI development platform called as Teneo. This development aids the company to deal with large multinational company such as Capgemini.

Middle East and Africa Conversational Computing Platform Market Scope

The conversational computing platform market is segmented on the basis of type, technology, deployment type, application and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Solution
• Chatbot
• Text Assistant
• Voice Assistant
• Natural Language Processing
• Natural Language Understanding
• Machine Learning and amp
• Deep Learning
• Automated Speech Recognition
• Service
• Consulting and Training
•  System Integration and Deployment
• Support and Maintenance  

Technology

• Natural Language Processing
• Natura Language Understanding
• Machine Learning and Deep Learning
• Automated Speech Recognition

Deployment Type

• Cloud
• On-Premise

Application

• Customer Support
• Personal Assistance
• Branding and Advertisement
• Customer Engagement and Retention
• Booking Travel Arrangements
• Onboarding and Employee Engagement
• Data Privacy and Compliance
• Others

Vertical

• Banking
• Financial Services, and Insurance
• Retail and E-commerce
• Healthcare and Life Sciences
• Telecom
• Media and Entertainment
• Travel and Hospitality
• Others

Conversational Computing Platform Market Regional Analysis/Insights

The conversational computing platform market is analyzed and market size insights and trends are provided by country, type, technology, deployment type, application and vertical as referenced above.

The countries covered in the conversational computing platform market report Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA),

Saudi Arabia dominates the Middle East and Africa conversational computing platform market the market due to increasing population in this country and high investments in computer based technologies. Furthermore, U.A.E. has planned to spend around USD 500000 Million in 26,500 square kilometer vast technology parks which will be named as Megacity.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Conversational Computing Platform Market Share Analysis

The conversational computing platform market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to conversational computing platform market.

Some of the major players operating in the conversational computing platform market are:

• IBM (U.S.)
• Alphabet (US.)
• Microsoft (U.S.)
• Amazon Web Services, Inc. (U.S.)
• Artificial Solutions (Sweden)
• Accenture (Ireland)
• Apexchat  (U.S)
• Botpress (Canada)
• Cognizant (U.S.)
• Cognigy  (Germany)
• Conversica, Inc. (U.S.)
• Jio Haptik Technologies Limited (India)
• Nuance Communications, Inc. (U.S.)
• Omilia Natural Language Solutions Ltd (Cyprus)
• Oracle (U.S.)
• Nuacem AI (India)
• PolyAI Ltd., (U.K.)
• SAP (Germany)