Chatbot Market Size 2019 | Global Demand, Market Dynamic Forces & Forecast 2027 - Amazon Web Services, Artificial, Creative Virtual, CX, eGain, IBM, Microsoft, Nuance Communications, Verint Systems

The global chatbot market accounted to US$ 1072.4 Mn in 2018 and is expected to grow at a CAGR of 27.9% during the forecast period 2019 – 2027, to account to US$ 9475.1 Mn by 2027.

The Industry Report “Chatbot Market” provides a clear picture of the Current Market Scenario which includes past and estimated future size with respect to value and volume, technological advancement, macro economical and governing factors in the Chatbot market.

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Europe was the leading geographic chatbot market and it is anticipated to be the highest revenue contributor throughout the forecast period. Factors such as penetration of internet users, the number of social media users, and the number of smartphones users have a profound influence over the penetration of the chatbot market during the past few years.

Global Chatbot Market – Company Profiles
- Amazon Web Services
- Artificial Solutions
- Creative Virtual
- CX Company
- eGain Corporation
- IBM Corporation
- INBENTA TECHNOLOGIES
- Microsoft
- Nuance Communications
- Verint Systems

Artificial intelligence allows businesses to prioritize and automate decision making, analyze big complex structured and unstructured data to provide deeper insights and improve efficiency by accurate planning. With all these applications, artificial intelligence enables businesses to improve operational efficiency, lower operating costs, enhance service quality and customer experience. With the increasing business complexities and high adoption of artificial intelligence across the industries, the market for Chatbots is expected to surge during the forecast period.

The emergence of advanced-driver-assistance systems like adaptive braking, self-parking, backup cameras, and automatic cruise control that further increase the passenger safety in the vehicles. Shared mobility services is another trend buzzing in the automobile ecosystem. A strong internet infrastructure coupled with cars that would be able to communicate with the rider and amongst each other regarding their availabilities and route mapping would form a trend in the upcoming few years. Highly advanced sensors are anticipated to be integrated into these vehicles for efficient communications to happen and therefore, these automotive electronic trends are anticipated to present good opportunities for the chatbot market players to cache in.

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Moreover, the factors are expected to continue to have a substantial impact over the market growth during the coming along with investment towards AI enabled CRM services, and the solution is expected to boost the growth of the market in the region. According to a report published by the World Federation of Advertisers (WFA) in 2017, the European region with a total population of 839 million reported almost 79% of internet users in the region.

GLOBAL CHATBOT MARKET - SEGMENTATION
Global Chatbot Market - By Component
- Solution
- Services

Global Chatbot Market - By Deployment
- On-premise
- Cloud

Global Chatbot Market - By Usage
- Website
- Contact Centers
- Social Media
- Mobile Platform

Global Chatbot Market - By End-User
- Retail & E-commerce
- BFSI
- Healthcare
- Travel & Tourism
- Others

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Answers that the report acknowledges:

- Market size and growth rate during forecast period.
- Key factors driving the Chatbot Market.
- Key market trends cracking up the growth of the Chatbot Market.
- Challenges to market growth.
- Key vendors of Chatbot Market.
- Detailed SWOT analysis.
- Opportunities and threats faces by the existing vendors in Global Chatbot Market.
- Trending factors influencing the market in the geographical regions.
- Strategic initiatives focusing the leading vendors.
PEST analysis of the market in the five major regions.

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This release was published on openPR.