Chatbots Market Size shows striking upsurge at 37% of CAGR | Industry Size, Competitors Strategy, Regional Analysis and Industry Growth by Forecast to 2023

Market Research Future published a Half Cooked research report on “Global Chatbots Market Research Report - Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023

Market Highlights:

Artificial Intelligence is the topic of the day! Artificial intelligence is expected to revolutionize the social media communication platform. We are witnessing a war for talent and software solutions that promises to produce the next generation of sales, marketing, and customer service automation. The current pace of development in the underlying technology powering intelligent software is occurring at an extravagant rate that expects significant number of salespeople be replaced with lines of code. A Chatbots is an automated program which simulates conversations, answers customer queries and handles requests using artificial intelligence. It is still a niche technology and is ongoing evolution.

The global Chatbots market is growing swiftly and is expected to grow exponentially in the upcoming years. According to a recent study report published by the Market Research Future, The global market of Chatbots is growing rapidly and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2023).

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Major Key Players

• WeChat (China),
• IBM (U.S.),
• Naunce Communications Inc. (U.S.),
• Artificial Solutions (Sweden),
• Egain Corporation (U.S.),
• Creative Virtual Pvt. Ltd. (U.K.),
• NEXT IT Corp. (U.S.),
• CX Company (Netherlands),
• 24/7 Customer Inc. (U.S.),
• Codebaby (Idavatars), Inc. (U.S.),
• Facebook, Inc. (U.S.),
• DigitalGenius (U.K.),
• Howdy (U.S.),
• Speaktoit Inc. (U.S.),
• Talla (U.S.),
• Semantic Machines (U.S).

According to MRFR, The global Chatbots Market is expected to grow at approx. USD 6 Billion by 2023, at 37% of CAGR between 2017 and 2023.

Industry News
L'Oréal, a global leader in makeup, cosmetics, hair care announced that it has deployed recruitment chatbots to improve its candidate experience.
Avaya Holdings Corp. announced the launch of the world's first social platform for chatbots. Avaya will incorporate the new capability in its Avaya Ava smart self-service platform which will raise the bar for customer service and satisfaction.

Market insights

The Chatbot Market since 2016 has been at an all-time high with regards to its growth. It’s grown by leaps and bound with regard to financial upsurge in the past few years, and is also estimated to reach approximately USD 6 billion, at CAGR of 37%. There are many factors that cater to this onrush, mainly extensive customer assistance, and proactive customer interaction, large share of the market depending on online messaging, multi lingual skills based Chatbots, and cost saving as Chatbots can cater to many customers at the same time without any delay. Major adoption of cloud-based systems can also be labelled as another reason for the growth.

Market Segmentation

The Chartbot market is divided on the basis of model/type, deployment, industry verticals, usage, end users, and regions.
On the basis of deployment, the market can be divided into cloud and on premise.
On the basis of model/type, the market can be further dissected into software and services.
Industry verticals are further split into media industry, health sector, customer service, education, hospitality and travel, banking, retail, publishing, BFSI, government and many more. Advancements in Artificial Intelligence (AI) have validated a new generation of Chatbots that are being utilized across all sectors.
The Chatbot market is segmented on the basis of usage, which is further divided into social media, mobile platform and others.
On the basis of end user, it is further segmented into large, small and medium enterprises.

Regional Analysis

Regionally, the global chatbots market has been segmented into North America, Asia Pacific, Europe, and the Rest of the World. North America is a strong market and is expected to exhibit high growth over the forecast period. The region is the frontrunner in the uptake of the latest technologies, and the concentration of major players in the region supports the growth of the North America chatbots market. Technical advancements in the region, increasing use of internet and penetration of mobiles and tablets in the region also drive the market in North America. North America is the largest market for chatbots while the Asia Pacific market is slated to emerge as the fastest growing market for chatbots over the forecast period.

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Intended Audience

• Technology investors
• Healthcare-related product manufacturers
• Integrated device manufacturers (IDMs)
• Original Manufacturers (OEMs)
• Smart grid integrators
• Surface mount component device distributors and providers
• Research/Consultancy firms

LIST OF TABLES
TABLE 1 CHATBOTS MARKET, BY TYPE
TABLE 2 CHATBOTS MARKET, BY DEPLOYMENT
TABLE 3 CHATBOTS MARKET, BY USAGE
TABLE 4 CHATBOTS MARKET, BY INDUSTRY VERTICALS
TABLE 5 CHATBOTS MARKET, BY REGIONS
TABLE 6 NORTH AMERICA CHATBOTS MARKET, BY TYPE
Continued……

LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 CHATBOTS MARKET, BY TYPE (%)
FIGURE 3 CHATBOTS MARKET, BY DEPLOYMENT (%)
FIGURE 4 CHATBOTS MARKET, BY USAGE (%)
FIGURE 5 CHATBOTS MARKET, BY INDUSTRY VERTICALS (%)
FIGURE 6 CHATBOTS MARKET, BY REGIONS (%)
Continued……

For More Information Visit @
http://www.wboc.com/story/39807558/chatbots-market-2019-global-industry-analysis-development-opportunities-future-growth-and-business-prospects-by-forecast-to-2023
https://www.marketwatch.com/press-release/current-trends-and-future-prospects-of-chatbots-market-2018-global-industry-share-size-key-players-business-growth-competitive-and-regional-forecast-to-2023-2018-12-04
https://www.snntv.com/story/39667528/chatbots-market-2018-supply-chain-trends-in-future-potential-business-growth-trends-competitive-landscape-import-export-and-revenue-by-forecast-to
http://www.digitaljournal.com/pr/3761578

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