Raipur, Oct. 14, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Chatbot Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the chatbot market is driven by a host of factors, some of which are noted below:
- Increase in the need for 24/7 customer support at a lower operational cost,
- Increased focus on customer engagement through various channels, technological advancements, and rising customer demand for self-service operations, which provide businesses with 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 upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Chatbot Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- By Product (Artificial intelligence, Marketing, Human intelligence),
- By Type (Standalone, Web-based, Messenger-based/Third party)
- By Deployment Mode (On-premise, Cloud)
- By End-use (Healthcare, Retail, Banking, Financial Services, and Insurance (BFSI), Media and entertainment, Travel & Tourism, E-commerce, Others),
- By Region (North America, Europe, Asia-Pacific, and Rest of the World)
Chatbot Market Insights
Product Trends
The market has been classified into Artificial intelligence, Marketing, Human intelligence. Under these, Marketing segment held a significant market share nearly 56.0% in 2021 and is projected to grow at a robust CAGR in the coming years.
Type Trends
The market has been classified into Standalone, Web-based, Messenger-based/Third party. Under these, Standalone segment held a significant market share of more than 54.5% in 2021 and is projected to grow at a robust CAGR in the coming years.
End-use Trends
The market has been classified into Healthcare, Retail, Banking, Financial Services, and Insurance (BFSI), Media and entertainment, Travel & Tourism, E-commerce, Others. The E-commerce segment accounted for the largest market share of more than 19.0% in 2021. Cloud computing has transformed the way businesses operate. Chatbots are gaining popularity in a variety of 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 held the highest market share of more than 40.3% in 2021. APAC countries are technologically advanced and offer significant investment and revenue opportunities. China, Singapore, Japan, and India are among these nations. Factors such as flexible economic conditions, government policies that encourage industrialization and globalisation, and digitalization are expected to support the growth of the APAC chatbot market.
COVID-19 Impact on the Chatbot Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/2684/chatbot-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
- IBM (US)
- Microsoft (US)
- Google (US)
- AWS (US)
- Nuance (US)
- Oracle (US)
- Creative Virtual (UK)
- Artificial Solutions (Spain)
- Kore.ai (US)
- Inbenta (US)
- [24]7.AI (US)
- Aivo (Argentina)
- ServiceNow (US)
- Conversica (US)
- Personetics (US)
- LiveChat (Poland)
What deliverables will you get in this report?
- In-depth analysis of the chatbot market
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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