Press release
Chatbot Market Market Expected to Grow at a CAGR of 24.8% During 2023-2028
The global chatbot market size reached US$ 4.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.2 Billion by 2028, exhibiting a growth rate (CAGR) of 24.8% during 2023-2028.
Chatbot Market Overview:
A chatbot is a computer program or artificial intelligence (AI) application designed to simulate human conversation and provide automated responses to user queries or inputs. These intelligent virtual assistants are employed in various industries and settings to enhance customer service, streamline processes, and engage with users in a conversational manner. Chatbots use natural language processing (NLP) algorithms to understand and interpret human language, allowing them to respond to a wide range of questions and requests.
They can be integrated into websites, messaging platforms, mobile apps, and even voice-activated devices, making them versatile tools for interaction. They are often deployed to handle routine inquiries and provide quick assistance, freeing up human agents to focus on more complex issues. They can provide information, troubleshoot problems, and guide users through processes such as online purchases or account management.
Get a Sample Copy of the Report at: https://www.imarcgroup.com/chatbot-market/requestsample
Chatbot Market Trends:
The global market is primarily driven by the increasing adoption of chatbots across various industries. Chatbots are being deployed in sectors ranging from e-commerce and customer support to healthcare and finance, contributing to market expansion. Moreover, continual advancements in artificial intelligence (AI) and natural language processing (NLP) technologies are driving the capabilities of chatbots.
Modern chatbots can understand and respond to natural language, making them more effective in customer interactions. Additionally, cost-effectiveness and efficiency are compelling factors for businesses to adopt chatbots.
Besides, the global shift towards digitalization and online communication has accelerated the demand for chatbots. With more individuals using digital platforms and mobile apps for various purposes, businesses are leveraging chatbots to offer instant support and information to their customers, enhancing user experiences.
Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/chatbot-market
Global Chatbot Market 2023-2028 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players:
• [24]7.ai Inc
• Acuvate Software Pvt Ltd
• Aivo
• Artificial Solutions
• Creative Virtual Ltd.
• eGain Corporation
• International Business Machines Corporation
• Inbenta Technologies Inc.
• Kore.ai Inc.
• LiveChat Inc.
• Nuance Communications Inc. and Verint Systems Inc.
Breakup by Type:
• Standalone
• Web-based
• Messenger-based/Third party
Breakup by Product:
• Artificial Intelligence
• Marketing
• Human Intelligence
Breakup by Application:
• Bots for Service
• Bots for Social Media
• Bots for Payments/Order Processing
• Bots for Marketing
• Others
Breakup by Organization Size:
• Small Enterprises
• Medium Enterprises
• Large Enterprises
Breakup by Vertical:
• Healthcare
• Retail
• Banking, Financial Services and Insurance
• Media and Entertainment
• Travel and Tourism
• E-commerce
• Others
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Read Also:
•https://www.benzinga.com/pressreleases/23/10/35102527/fluid-dispensing-equipment-market-report-2023-2028-size-share-trends-and-outlook
•https://www.benzinga.com/pressreleases/23/10/35102515/milk-tank-cooling-system-market-report-2023-2028-growth-share-trends-and-forecast
•https://www.benzinga.com/pressreleases/23/10/35140756/japan-coffee-and-tea-capsules-market-outlook-2023-size-share-growth-and-report-2028
•https://www.benzinga.com/pressreleases/23/10/35142798/japan-frozen-seafood-market-share-2023-growth-size-outlook-and-forecast-2028
•https://www.benzinga.com/pressreleases/23/10/35143826/smart-water-leak-detector-market-size-2023-growth-analysis-price-trends-and-report-2028
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company's expertise.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Chatbot Market Market Expected to Grow at a CAGR of 24.8% During 2023-2028 here
News-ID: 3241393 • Views: …
More Releases from IMARC Group
Surgical Adhesive Tapes Manufacturing Plant Report 2024, Industry Trends, Busine …
IMARC Group's report, titled "Surgical Adhesive Tapes Manufacturing Plant Project Report 2024: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" provides a complete roadmap for setting up a surgical adhesive tapes manufacturing plant. The report covers various aspects, ranging from a broad market overview to intricate details like unit operations, raw material and utility requirements, infrastructure necessities, machinery requirements, manpower needs, packaging and transportation requirements, and…
Oxygen Tubing Manufacturing Report 2024: Plant Cost, Business Plan, Capital Inve …
IMARC Group's report, titled "Oxygen Tubing Manufacturing Plant Project Report 2024: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue," provides a complete roadmap for setting up an oxygen tubing manufacturing plant. The report covers various aspects, ranging from a broad market overview to intricate details like unit operations, raw material and utility requirements, infrastructure necessities, machinery requirements, manpower needs, packaging and transportation requirements, and more.
In addition…
Crockery Manufacturing Plant Setup Cost, Report 2024, Business Plan, Cost and Re …
IMARC Group's report, titled "Crockery Manufacturing Plant Project Report 2024: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" provides a complete roadmap for setting up a crockery manufacturing plant.. The report covers various aspects, ranging from a broad market overview to intricate details like unit operations, raw material and utility requirements, infrastructure necessities, machinery requirements, manpower needs, packaging and transportation requirements, and more.
In addition to the…
Disposable Scalpel Manufacturing Plant Project Report 2024 Edition, Requirements …
IMARC Group's report, titled "Disposable Scalpel Manufacturing Plant Project Report 2024: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" provides a complete roadmap for setting up a disposable scalpel manufacturing plant. The report covers various aspects, ranging from a broad market overview to intricate details like unit operations, raw material and utility requirements, infrastructure necessities, machinery requirements, manpower needs, packaging and transportation requirements, and more.
In addition…
More Releases for Chatbot
42Gears Introduces Self Service ‘DeepThought’ Chatbot
42Gears Mobility Systems, a leading Unified Endpoint Management solution provider positioned as a Visionary in the Gartner Magic Quadrant 2018, announces that it has launched a Self Service Chatbot for enterprise end users. 42Gears has extended its ‘DeepThought’ engine, a virtual assistant chatbot, to function as a self-service portal for end users.
The Self Service chatbot allows end users to perform actions on their enrolled devices, which would otherwise have…
Bookbotby.ai launches Hotel specific Chatbot
bookbotby.ai announces general availability of its multi-tenant hotel chatbot. Since February this year the hotel focussed chatbot was available in beta and during this period more than 50 hotels and banquet halls deployed the bot on their websites.
James Prince, product lead at Bookbotby says “during the beta program the bot answered 1000+ guest interactions a day and generated 3000 ++ transactions for the 50 early hotels who deployed the…
Hidden Brains Launches Chatbot Development Services
Hidden Brains, India-based leading Enterprise Solutions Company launched Chatbot Development services for its clients across 107 countries across the globe. With core focus on capitalizing on emerging technologies, Hidden Brains team has taken step in exploring chatbot and its real-world implementation across different industries. Launch of Chatbot development services is expected to drive growth, improve customer experiences, and increase agility/productivity of business. Chatbots can assist customers in factual…
Chatbot Market Development in AI, Key Factor behind Growth of Chatbot Market
The global chatbot market is led by companies such as Facebook, Microsoft, and Google, who collectively accounted for a stupendous 97.5% of the market in 2015, states Transparency Market Research (TMR) in its new report. This share held by market players convey that the chatbot market is extremely consolidated with most consumers preferring the services or products of these three players. As all three companies are well established and recognized,…
Chatbot Market - Large Enterprises Making Smart Headway Using Chatbot Advancemen …
Facebook, Inc., Google, Inc., and Microsoft Corporation were the clear winners in the global chatbot market in 2015. Their collective share of close to 97.5% in the market’s revenue is an indicator of the extremely consolidated nature of the market. Consumers show an extremely high preference for the products of these three players due to their recognition and the much larger investments they make into developing chatbot technologies. Additionally, Yahoo,…
Global Chatbot Market - Large Enterprises Making Smart Headway Using Chatbot Adv …
Latest Research Report titled " Chatbot Market (Platform - Web-based, Mobile, and Standalone; Enterprise Size - Small and Medium Enterprises and Large Enterprises) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024 " features Key Market Players, Segments, Applications. Report Presents Global Market Survey, Growth, Challenges and Forecast.
Chatbot refers to a computer program, which stimulates the conversation between human and the machine. Generally, a chatbot acts…
