Raipur, Oct. 14, 2022 (GLOBE NEWSWIRE) — Stratview Research, a leading market research company has launched a report on Chatbot Market which provides an in-depth analysis of market dynamics, current and emerging trends, industry forecasts, and competitive landscape.
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How Does the Report Help?
The report has high utility for key decision makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report examines the possible impact of COVID-19 on market dynamics that offers a cushion against an uncertain business environment and helps streamline resources and investment decisions in a fruitful manner.
What are the Top Drivers in the Market?
According to the report, the chatbot market is driven by many factors, some of which are mentioned below:
- Increasing demand for 24/7 customer support at lower operating costs,
- Increased focus on customer interaction through various channels, technological advancements, and increased customer demand for self-service operations, giving businesses a competitive advantage,
- Initiatives to create self-learning chatbots that provide a more human-like conversational experience.
- Self-learning chatbots can adapt to changing environmental conditions and learn from their actions, experiences, and decisions.
The report also includes growth rate estimates based on the intensity of drivers and constraints and provides users with several graphical illustrations of key insights.
Chatbot Market Segmentation:
Stratview Research has segmented the market in the following ways that address the market data needs of multiple stakeholders across the industry’s value chain.
- By Product (Artificial intelligence, Marketing, Human intelligence),
- By Type (Standalone, Web-based, Messenger-based/Third party)
- By Deployment Mode (In place, Cloud)
- By End-use (Healthcare, Retail, Banking, Financial Services, and Insurance (BFSI), Media and entertainment, Travel and Tourism, E-commerce, Others),
- By Region (North America, Europe, Asia-Pacific, and Rest of the World)
Chatbot Market Insights
Product Trends
The market is classified into Artificial intelligence, Marketing, Human intelligence. Under them, Marketing segment held a significant market share nearly 56.0% in 2021 and is expected to grow at a steady CAGR in the coming years.
Types of Trends
The market is classified into Standalone, Web-based, Messenger-based/Third party. Under them, Single segment held a significant market share of more than 54.5% in 2021 and is expected to grow at a steady CAGR in the coming years.
End-use Trends
The market is classified into Healthcare, Retail, Banking, Financial Services, & Insurance (BFSI), Media & entertainment, Travel & Tourism, E-commerce, Others. The E-commerce segments recorded the largest market share of more than 19.0% in 2021. Cloud computing has changed the way businesses operate. Chatbots are gaining popularity in various industries due to benefits such as remote connectivity and virtual presence, which significantly reduce transportation costs.
Which region offers the best opportunity and growth?
The North American market holding the highest market share of more than 40.3% in 2021. APAC countries are technologically advanced and offer great investment and income opportunities. China, Singapore, Japan, and India are among these countries. Factors such as flexible economic conditions, government policies encouraging industrialization and globalization, and digitalization are expected to support the growth of the APAC chatbot market.
Impact of COVID-19 on the Chatbot Market
COVID-19 has brought many industries worldwide to an immediate halt. Lockdown standards in several countries have quickly affected the global economy by affecting the supply chain, production, and market demand. Both direct, as well as indirect effects of the pandemic, are included in this report.
To find out more about the impact of covid-19, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/2684/chatbot-market.html#form
Who are the Top Players in the Market?
After a thorough market analysis, experts have listed some key players and discussed the company profiles of the players given below –
- IBM
- Microsoft
- Google (US)
- AWS (US)
- Nuance (US)
- Oracle
- Creative Virtual (UK)
- Artificial Solutions (Spain)
- kore.ai (US)
- Sold (US)
- [24]7. AI (US)
- Aivo (Argentina)
- ServiceNow (US)
- Conversica (US)
- Personetics (US)
- LiveChat (Poland)
What deliverables will you get from this report?
- In-depth chatbot market analysis
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, current, and future market size analysis.
- Industry trends, technology, and advancements.
- Growth and operational strategies adopted by key players.
- Potential segments/regions offering good growth.
- Geographical presence of key players.
Related reports that may be useful:
- Artificial Intelligence Market
- Funny Pet Robot Market
About us –
Stratview Research is a global market research company that offers reliable market reports, market entry strategies, strategic growth consulting, and more. Market experts compile high-quality market information to help users gain a granular level of clarity on current business trends and expected future developments. Stratview Research also offers customization of reports. Engage with analysts to customize the provided report as per your priority/need.
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