Live Chat Software Market Expected to Reach $997 Million by 2023 - Top Impacting Factors, Global Opportunity Analysis by 2026

Rise in popularity of live chat software among end users and increasing need to improve customer relationship management (CRM) drive the growth of the global live chat software market. North America contributed the highest share in 2016, and will maintain its dominance by 2023. Market players have collaborated to launch a live chat solution to assist in identifying symptoms of coronavirus and providing advice to people seeking medical help.

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According to the report published by Allied Market Research, the global live chat software market generated $590 million in 2016, and is estimated to reach $997 million by 2023, registering a CAGR of 7.5% from 2017 to 2023. The report offers an extensive analysis of changing market dynamics, top winning strategies, business performance by key players, value chain analysis, and competitive scenario.

Covid-19 scenario:

• Market players have collaborated to launch a live chat solution to assist in identifying symptoms of coronavirus and providing advice to people seeking medical help.
• Live chat software is the most important platform in global lockdown to resolve the queries of end users as it eliminates the need for customer executives to come to company premises for offering services.

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The report offers a detailed segmentation of the global live chat software market based on product type, end user, and region.

Based on product type, the customer service live chat systems segment contributed to the largest share in 2016, and estimated to maintain its dominant position during the forecast period. In addition, it is expected to witness the highest growth from 2017 to 2023. Moreover, the report also analyzes the segments including informational live chat systems and sales live chat systems during the forecast period.

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Based on end user, the other segment which includes transportation, media, education, government, and real estate accounted for the largest share in 2016, and is expected to maintain the largest share throughout the forecast period. However, the retail segment is estimated to portray the highest growth during the forecast period.

Leading market players analyzed in the research include,

• LogMeIn Inc.
• LivePerson Inc.
• Zendesk
• SnapEngage
• Livechat Inc.
• Olark
• Kayako Inc.
• Freshdesk Inc.
• Woopra Inc.
• Provide Support LLC

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