Chatbot Market Expected to Grow at CAGR 26.9% and Forecast to 2027 | IPsoft, Interactions, Botego, Ivee, Microsoft, Baidu

Chatbot Market is valued at USD 435.2 Million in 2018 and expected to reach USD 2306.3 Million by 2025 with the CAGR of 26.9% over the forecast period.
Growing popularity of online messaging applications is the key factor contributing to the growth of the Global Chatbot Market

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Scope of the Report:
A chatbot is a computer program that stimulates human conversation through voice commands or text chats or both. It is an artificial intelligence feature that can insert and used through any major messaging application. It is an associate assistant that communicates through text messages, a virtual companion that participates into websites, applications or instant messengers and helps entrepreneurs to urge nearer to customers. Improved customer service, increased customer engagement, monitoring consumer data and gaining insights, easier approach to global markets are the benefits of this chatbot market. Even if live chat, self-service, social media, and chatbots are relatively lower in terms of raw volume, the growth of these channels are staggering. One of the most effective samples of a decent larva may be a computer programmer spider. The 80% of companies presently use or area unit going to use chatbots by 2020. Chatbots are used in numerous applications such as to program meetings, order online food, and provide customer support, and offer weather conditions and forecasting.
Chatbot Companies

Global chatbot market report covers prominent players are like
• Artificial Solutions
• IBM Watson
• Naunce Communications
• eGainCoporation
• Creative Virtual
• Next IT Corp.
• CX Company
• Speaktoit
• Customer
• Codebaby
• Facebook
• Nuance
• IPsoft
• Interactions
• Botego
• Ivee
• Microsoft
• Baidu
• Jibo
• EasilyDo
• CogniCor
• Living Actor (Cantoche)
• Google
• Inbenta Technologies
• Applied Voice & Speech Technologies

Growing Popularity of Online Messaging Applications is the Key Factor
Contributing to the Growth of the Global Chatbot Market.
Major factor driving the growth of global chatbot market is growing popularity of online messaging applications. The rapid ascent of this new wave of messaging apps reflects the extent to which various communication tools serve different social needs. Facebook maintains the two biggest platforms in the global messaging market; whatsapp have 900 million monthly active users; and messenger, with 700 million MAUs. Wechat, which is mostly used in china, ranks third with more than 600 million MAUs. Whatsapp delivered more than trillion messages in 2014, the equivalent to about 1000 messages for every person. Facebook paid $21.8 billion for the service, which now transfers at least fifty % a lot of messages than the complete world SMS system.

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North America is Expecetd to Dominate the Global Chatbot Market
Geographically, the global Chatbot market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. North America is projected to dominate the chatbot market owing to the its increased adoption in gaming, healthcare and other sectors in this region. In addition, high investment in research and development in this field is also supplementing the market growth in this region. Europe is expecetd to witness a significant growth in this market owing to the increased growth of e-commerce market and presence of major players in this region.

Key Benefits for Market Report–
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.

Global market report helps to identify opportunities in market place.
The global market report covers extensive analysis of emerging trends and competitive landscape.

Chatbot Market Segmentation

By Type:- Software, Services

By Platform:- Mobile-Based, Web-Based

By Application:- BFSI, Healthcare, Retail, Utilities, Others

Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa

Table of Content
1. Chapter - Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description
2. Chapter – Global Chatbot Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. Global Chatbot Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Chatbot Market: Trends
2.8. Porter’s Five Forces Analysis
2.9. Market Attractiveness Analysis
3. Chapter - Global Chatbot Market Overview: Quantitative Analysis
4. Chapter – Global Chatbot Market Analysis: Segmentation By Type
5. Chapter – Global Chatbot Market Analysis: Segmentation By Application

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