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Market Size in USD Billion
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USD 932.92 Million |
| USD 7,333.64 Million | |
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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.
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.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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),
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Market Players Covered
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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)
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Market Opportunities
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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.
Drivers
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.
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
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 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
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.
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
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
Technology
Deployment Type
Application
Vertical
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.
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:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated 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 drop down your inquiry.
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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.