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global artificial conversational entity market is expected to grow at a CAGR of 33% during the forecast period, 2019–2026

08-28-2021 12:26 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: StraitsResearch

Artificial Conversational Entity Market

Artificial conversational entity (ACE) is a technology capable of leading a conversation with human beings via textual methods. Prevalence of messaging apps in conjunction with conversational and automation technology is the primary determinant behind the growth of the artificial conversational entity market. One of the most famous examples of the artificial conversational entity in mobile technology is Siri, a virtual assistant that enhances the user experience by offering different services and functions on mobile phones through voice-based queries delegated by the user.

The Major Players Covered in this Report:
Artificial Solutions, Aivo, Anboto, Creative Virtual Pvt. Ltd., CX Company, eGain Corporation, IBM Corporation, Inbenta, Next IT Corporation, and Nuance Communications, Inc. 

The global artificial conversational entity market was valued at a worth of USD 600 million in 2016 and is expected to grow at a CAGR of 33% during the forecast period, 2019–2026.

Get a Sample PDF Report:
https://straitsresearch.com/report/Artificial-Conversational-Entity-market/request-sample

By Type, Software , Service

By Industry, Retail , BFSI , Healthcare , Media and Entertainment , Others

By Application, Website , Mobile Platform , Social Media , Others

By Enterprise Size, Small and Medium Enterprise , Large Enterprise , ,

Segmentation Insight

Global artificial conversational entity (ACE) market is segmented by type, industry, application, and enterprise size.

Small and medium type enterprise is projected to emerge as a fastest-growing segment, owing to the surging demand for the artificial conversational entity to optimize the business operations. Artificial conversational entity helps a business to reduce customer acquisition cost and process numerous queries. It also helps in decoding customer behavior and predicting market trends. BFSI sector is projected to hold the largest share for industry segment in the artificial conversational entity market, owing to the ongoing testing of new applications and solutions with artificial conversational technology to improve overall customer experience. In November 2016, Axis bank launched AI-powered artificial conversational entity partnering with Active.ai. Mobile-based platform is projected to grow at the highest CAGR in application segment. This scenario is mainly driven by the increasing penetration of smartphones worldwide. It assists in tracking real-time customer behavior and trends, thereby boosting business productivity.

Regional Insights

Regional Analysis For Artificial Conversational Entity Market:

North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

In this study, the years considered to estimate the market size of the Artificial Conversational Entity are as follows:

History Year: 2014-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2021 to 2026

The study objectives of this report are:

To study and forecast the market size of the Artificial Conversational Entity in the global market.
To analyze the global key players, SWOT analysis, value, and global market share for top players.
To define, describe and forecast the market by type, end-use, and region.
To analyze and compare the market status and forecast among global major regions.
 Analyze the potential of the global market and the advantages, opportunities and challenges, constraints, and risks of key regions.
Identify the key trends and factors that are driving or holding back market growth.
To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
Strategic analysis of each submarket in light of individual growth trends and market contributions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Complete analysis of the strategic strategy and growth of key players

For More Details On this Report:
https://straitsresearch.com/report/Artificial-Conversational-Entity-market

Contact Us:

Company Name: Straits Research
Email: sales@straitsresearch.com
Phone:
+1 646 480 7505 (U.S.)
+91 8087085354 (India)
+44 208 068 9665 (U.K.)

About Us:

Regardless of whether you're looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with what customers purchase. We overcome the issues of our customers by recognizing and deciphering just the target group, while simultaneously generating leads with the highest precision. We seek to collaborate with our customers to deliver a broad spectrum of results through a blend of market and business research approaches. This approach of using various research and analysis strategies enable us to determine greater insights by eliminating the research costs. Moreover, we're continually developing, not only with regards to where we measure, or who we measure but in how our visions can enable you to drive cost-effective growth.

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