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Artificial Conversational Entity Market Incredible Possibilities, Growth with Industry Study, Detailed Analysis and Forecast to 2028
Artificial Conversational Entity Market
The Artificial Conversational Entity (ACE) is a technology that can lead a conversation with people through textual methods. One of the significant determinants behind the growth of the artificial conversational entity market is the proliferation of Messaging apps in tandem with conversational and automation technology. One of the most well-known examples of the artificial conversational agent in mobile technology is Siri, a virtual assistant who improves user experience by providing various services and functions on mobile phones through user-controlled voice-based questions.
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Companies Profiled in this report includes: AIVO, Anboto, Artificial Solutions, Creative Virtual Ltd., CX Company, eGain Corporation, IBM Corporation, Inbenta Technologies Inc., Next IT Corp, Nuance Communications, Inc.
MARKET DYNAMICS
Due to the massive adoption of artificial conversational entity technology in various applications, such as e-commerce, gaming, customer service, and others, North America is expected to hold a dominant position on the global artificial conversational entity market. Mexican banks are on the road to adopt an artificial conversational entity to automate their operation, enhance customer experience, and avoid risky transactions, thereby accelerating the region's market growth. Rapidly changing market dynamics coupled with the continuous demand for customer service and cost-efficiency, and the increased adoption of the artificial conversational agent in the transport and healthcare sector is driving progress in the marketplace. WestJet, for example, launched an artificial conversational agent in August 2020 to help client's book flights, monitor ticket status, and other questions. Similarly, in 2020, Wimbledon, the world-famous tennis tournament, launched an IBM Watson-developed AI-powered chatbot named Fred to direct on-the-grounded spectators and also help them know the game better through its interactive presentation of the on-going match innovations.
MARKET SEGMENTATION
The global artificial conversational entity market is segmented on the basis of type, enterprise size, application, and industry vertical. Based on type, the artificial conversational entity market is segmented into: Software and Service. On the basis of enterprise size, the market is segmented into: Small and Medium Enterprise, and Large Enterprise. On the basis of application, the market is segmented into: Website, Mobile Platform, Social Media, and Others. Based on industry vertical, the market is segmented into: Retail, BFSI, Healthcare, Media and Entertainment, and Others.
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REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global artificial conversational entity market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The artificial conversational entity market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the artificial conversational entity market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the Artificial Conversational Entity in these regions.
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