Final Report will add the analysis of the impact of COVID-19 on this industry.
The report titled Chatbot Market has recently added by MarketIntelligenceData to get a stronger and effective business outlook. It provides an in-depth analysis of different attributes of industries such as trends, policies, and clients operating in several regions. The qualitative and quantitative analysis techniques have been used by analysts to provide accurate and applicable data to the readers, business owners and industry experts.
The chatbot market was valued at USD 17.17 billion in 2019,and is projected to reach USD 102.29 billion by 2025,registering a CAGR of 34.75% over the forecast period, 2020- 2025.
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Top Companies operating in the Global Chatbot market profiled in the report: IBM Corporation, eGain Corporation, Nuance Communications, Creative Virtual Ltd, Artificial Solutions Inc., Next IT Corp, 7.ai, Inc., MEOKAY, Botsify, Chatfuel, Bold360 ai, Dialogflow (Google), Amazon Web Services, Inc. (Amazon Lex), LiveChat, Inc.
Scope of the Report
A chatbot is an artificial intelligence (AI) software that can simulate a conversation (or a chat) with a user in natural language through messaging applications, websites, mobile apps or through the telephone.
Key Market Trends
Retail Sector to Witness High Growth
– In today’s times, the retail offerings are huge, which creates difficulty for a user to navigate through all of them. Though options, such as search and filter are provided by the companies, but they can be clumsy at time’s for a user to navigate. In the retail industry, chatbot basically replicates the real-life experience of the store, wherein the users have to post their desired products and suggestions would be provided by the bot.
– Many retail companies are incorporating their chatbot application to various widely-used messaging apps to offer rich customer experience and solve customer queries.
– Global retail outlets, such as Domino’s are leveraging the advantages of artificial intelligence and machine learning through chatbots, wherein a user can place an order directly through messenger. In February 2017, the company launched its first chatbot integrated with Facebook messenger, which is expected to have an immense impact on the market growth over the forecast period.
Global Chatbot Market Split by Product Type and Applications:
Market Segment by Type, covers:
Market Segment by Applications, covers:
IT and Telecommunication
Regional Analysis For Chatbot Market:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Influence of the Chatbot Market Report:
-Comprehensive assessment of all opportunities and risk in the Chatbot market.
-Chatbot market recent innovations and major events.
-Detailed study of business strategies for growth of the Chatbot market-leading players.
-Conclusive study about the growth plot of Chatbot market for forthcoming years.
-In-depth understanding of Chatbot market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Chatbot market.
Chatbot Market report includes the estimation of market size for value (million USD) and volume (M Sqm). Both Top-down and bottom-up approaches have been used to estimate and validate the market size of Chatbot Market, to estimate the size of various other dependent submarkets in the overall market.
Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
How we have factored the effect of Covid-19 in our report:
All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
MarketIntelligenceData provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketIntelligenceData provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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