New York, NY, May 22, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Chatbot Market by Type (Support, Skills, and Assistant), by End-User (Healthcare, Retail, BFSI, Travel & Hospitality, E-commerce, Media & entertainment Entertainment, and Others) by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa): Global Industry Perspective, Comprehensive Analysis, and Forecast 2017-2024’’. According to the report, global chatbot market was valued at around USD 369.79 million in 2017 and is expected to reach approximately USD 2,166.28 million in 2024, growing at a CAGR of slightly above 28.73% between 2018 and 2024.
The global information technology sector has been plagued by numerous factors including concerns over data security, increasing operational cost, the intense competition offered by global and local players, and many others. Due to these factors, various industry players are looking for ways that can curtail cost, improve performance and leads to customer satisfaction. Chatbots are the talking point in the business world nowadays. This is a technology that has the ability to performs a conversation via auditory or textual methods. It is a specialized robot that interactively chats with human beings through audio or textual mode via the internet and artificial intelligence. Chatbots are also known as conversational agents.
Browse through 29 Tables & 25 Figures spread over 110 Pages and in-depth TOC on “Global Chatbot Market Size & Share 2017: Industry Trends, Growth Opportunities Analysis and Forecast, 2024”.
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There are two types of chatbots namely rule-based, that provides a predefined response from a database, based on the keywords used for the search. Whereas smart machines chatbots derive their capabilities from artificial intelligence and adjust their behavior as per previous customer interactions. The pop-ups on message service inhabited within the chatbot help the users in multiple applications such as booking a room in the hotel, a ride or flight tickets, etc. Chatbots are finding their ways as intelligent customer care tools for improving efficiency and user experience. Chatbots are used in numerous applications such as to schedule meetings, order online food, provide customer support, and offer weather conditions and forecasting, thus leading to the growth of the chatbot market.
Rising investments and adoption of artificial intelligence across various industries in government and private organizations will fuel the chatbot market during the forecast period. The necessity requirement of high performing chatbots, growing popularity of online messaging applications are the preliminary factors contributing to the growth of the chatbot market. Usage of chatbots in digital marketing applications and easy implementation of AI-based tools in various industry industrial products is allowing the chatbot market to gain a significant consumer base. However, the slow adoption rate, high deployment cost, and lack of expertise related to the services can restrain the chatbot market. Tech-savvy customers, connected to social platforms, expect a real-time response to their queries; this segment is expected to grow tremendously in the forecast horizon period. Healthcare sector is projected to depict significant gains expansion over the forecast timeframe owing to the rise in need of for patient engagement activities such as patient documentation, doctor visits, medicines, and check-ups reminder systems.
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The chatbot market is segmented based on type and type and end- user. The type segment is categorized into support, software skills, and services assistant. The end- user segment is further bifurcated fragmented into BFSI, healthcare, retail, e-commerce, travel and hospitality, media & entertainment, and others. Regional segmentation of the chatbot market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with further country- wise bifurcation classified into segmentation into major countries such as the U.S., the UK, France, Germany, China, Japan, India, and Brazil.
Request Here to Download Report TOC ( Includes List of Tables and Figures) https://www.zionmarketresearch.com/download-toc/chatbot-market
The major players operating in the global chatbot market are 24/7 Customer Inc., CX Company, Creative Virtual Pvt. Ltd., eGain Corporation, IBM Watson, Codebaby, Speaktoit Inc., Next IT Corporation, Artificial Solutions, and Nuance Communications IncNuance Communications Inc., Next IT Corporation, Pandorabots, Inc., Microsoft Corporation, IBM Watson, eGain Corporation, Creative Virtual Pvt. Ltd., Google, CX Company, Astute Solutions, Imperson Ltd., and 24/7 Customer Inc.
For More Information, Browse the full "Chatbot Market by Type (Support, Skills, and Assistant), by End-User (Healthcare, Retail, BFSI, Travel & Hospitality, E-commerce, Media & Entertainment, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast 2017-2024." report at https://www.zionmarketresearch.com/report/chatbot-market
The report segments the global chatbot market as follows:
Global Chatbot Market: Type Segment Analysis
- Support chatbot
- Skills chatbot
- Assistant chatbot
Chatbot Market: End-User Segment Analysis
- BFSI
- Healthcare
- E-commerce
- Retail
- Travel and Hospitality
- Media & entertainment
- Others
Chatbot Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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