US Chatbot Market Size, Share and Forecast 2021-2027

The US chatbot market is anticipated to grow at a CAGR of 25.7% during the forecast period (2021-2027). In the US, enterprises are accelerating the adoption of conversational AI to provide better customer experiences, drive revenue and capitalize on new opportunities. Therefore, market players are focusing on focusing on the development of conversational AI in a chatbot for providing better customer service solutions. The US chatbot market is driven by the presence of major market players and the introduction of new chatbots by advanced technologies. The market players in the US are highly inclined towards the adoption of strategies such as mergers and acquisitions, new product launches, business expansion, partnership collaboration, among others to remain competitive in the market. For instance, in Feb 2021, Artificial Solutions International AB launched LUIS^Teneo, a chatbot runtime & development environment for Microsoft Azure customers. The SaaS-based development suite allows to develop, scale, and sustain LUIS-based bots with fewer resources improving conversational bot ROI. In October 2020, Conversica, Inc., announced a fully integrated Intelligent Virtual Assistant for the chat that can deliver two-way, human-like conversations across Website chat, Email, and SMS.

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Besides, in November 2019, the company has launched Teneo Connectors. Through this connector, chatbots can utilize the back-office technology power to offer greater intelligence and capabilities. Similarly, in Nov 2019, [24]7.ai, Inc., provider of customer engagement solutions, announced the expansion of its messaging capabilities with advanced conversational AI capabilities. With this AI expansion, companies can improve messaging channels such as Facebook Messenger with conversational AI. Considering these launches, considerable growth can be expected in the US chatbot market during the forecast period.

Market Coverage

· The market number available for – 2020-2027

· Base year- 2020

· Forecast period- 2021-2027

Segment Covered-

Ø By Deployment Mode

Ø By Component

Ø By Verticals

Ø By Application

· Competitive Landscape- Amazon Web Services (AWS), Botsify Inc., Conversica, Inc., Creative Virtual Ltd., Google LLC., IBM Corp., Microsoft Corp., Nuance Communication, Inc., Oracle, others.

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Key questions addressed by the report

· What is the market growth rate?

· Which segment and region dominate the market in the base year?

· Which segment and region will project the fastest growth in the market?

· How COVID-19 impacted the market?

Ø Deviation from the pre-COVID-19 forecast

Ø Most affected region and segment

· Who is the leader in the market?

· How are players addressing challenges to sustain growth?

· Where is the investment opportunity?

US Chatbot Market Report Segment

By Deployment Model

· On-Premises

· Cloud-based

By Component

· Solution

· Services

By Verticals

· Healthcare

· Travel and Hospitality

· Media and Entertainment

· Telecommunication

· Banking & Financial Service and Insurance (BFSI)

· Retail and E-commerce

· Others

By Application

· Customer Care

· Branding & Advertisement

· Data Privacy and Compliance

· Employee Engagement and On-boarding

· Payment Processing

· Others

Company Profiles

· [24]7.ai, Inc

· Aivo

· Amazon Web Services Inc.

· Artificial Solution International AB

· Botsify Inc.

· CogniCor Technologies Inc.

· Contus

· Conversica, Inc.

· Creative Virtual Ltd.

· eGain Corp.

· Google LLC.

· IBM Corp.

· Inbenta Technologies Inc.

· Microsoft Corp.

· MindMeld Inc. (Cisco)

· Nuance Communication, Inc.

· Oracle Corp.

· Personetics Technologies

· Pypestream Inc.

· SmartBots

· Verint Systems Inc.

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