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Conversational AI Market | New Technology and Advancements to watch out for 2025
The research reports on “Conversational AI Market” report gives detailed overview of factors that affect global business scope. Conversational AI Market report shows the latest market insights with upcoming trends and breakdowns of products and services. This report provides statistics on the market situation, size, regions and growth factors.Get Free Sample Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=2029744
The Global Conversational AI Market size is expected to grow from 4.8 Billion in 2020 to USD 13.9 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.9% during the forecast period.
Top Companies Profiled in the Conversational AI Market:
• Microsoft (US)
• Google (US)
• AWS (US)
• Oracle (US)
• IBM (US)
• Baidu (China)
• SAP (Germany)
• Artificial Solutions (Spain)
• Conversica (US)
• Haptik (India)
• Nuance (US)
• Rasa (Germany)
• Avaamo (US)
• Kore.ai (US)
• Solvvy (US)
• Pypestream (US)
• Inbenta (US)
• Rulai (US)
• Creative Virtual (US)
• Saarthi.ai (India)
• FIS (US)
• AmplifyReach (India)
• Interactions (US)
• Quosphere (US)
• Exceed.ai (US)
• Cognigy (Germany)
• SoundHound (US)
• Kasisto (US)
• Mindsay (US)
• Clinc (US)
As the COVID-19 or coronavirus crisis has dragged on, understaffed government agencies, grocery stores, and financial services have all scrambled to set up chatbots and other conversational AI solutions for handling a new influx of calls. IBM witnessed a 40% increase in traffic to Watson Assistant from February to April of this year.
By service, the market size of the training and consulting segment is expected to be the largest during the forecast period. Consulting services include highly qualified industry experts, security professional, and domain experts to help and motivate organizations in minimizing risks, preventing revenue losses, and upgrading the existing conversational AI solutions in the market.
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In the conversational AI market by type, the Intelligent Virtual Assistants (IVA) segment is expected to record the higher CAGR during the forecast period. The growth is attributed to the increasing demand for IVA among enterprises for proving customers better and personalized experience, thus strengthening customer engagement and retention imperatives.
Breakdown of primary participants’ profile:
• By Company: Tier I: 15%, Tier II: 42%, and Tier III: 43%
• By Designation: C-Level Executives: 62%, Directors: 20%, and Others: 18%
• By Region: North America: 40%, APAC: 30%, Europe: 20%, MEA: 5%, and Latin America: 5%
Competitive Landscape of Conversational AI Market:
1 Competitive Leadership Mapping
1.1 Visionary Leaders
1.2 Innovators
1.3 Dynamic Differentiators
1.4 Emerging Companies
2 Strength Of Product Portfolio
3 Business Strategy Excellence
4 Market Ranking Analysis, By Company
Research Coverage:
The conversational AI market is segmented by component, type, technology, application, deployment mode, vertical, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the global conversational AI market.
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