AI Powered Chatbots Market Boom: Analyzing the Future of Growth| Google, Microsoft, AWS

The study of the Global AI Powered Chatbots Market outlines the changes taking place in the technology industry and how established and emerging players are adapting to both long-term opportunities and short-term challenges. One of the most appealing aspects of the AI Powered Chatbots Industry is its impressive growth rate, which has caught the attention of major technology players such as Google (United States), Microsoft (United States), AWS (United States), SAP (Germany), Oracle (United States), Cognizant (United States), Baidu (China), Nuance (United States), Artificial Solutions (Spain), who are seeking to expand their market share and connect with consumers by exploring the potential of AI Powered Chatbots.

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Artificial Intelligence (AI) based chatbots are automated computer program which is employed to interact with the human conversation by using text, voice or hybrid solutions. Artificial Intelligence (AI) powered chatbots are finding increasing adoption across multiple industry verticals owing to their capability to make Customer Relationship Management (CRM) more efficient in operation while minimizing overall costs. Chatbots can be employed in business-to-business, business-to-consumer, and consumer-to-business communications.

AI Powered Chatbots Market Segmentation:
by Application (Lead Generation, Customer Engagement, Customer Support, Feedback and Insights, E-commerce, Others), Deployment Mode (Cloud-based, On-premise), Industries (Retail, BFSI, Media and entertainment, Healthcare, Travel & Tourism, E-commerce, Others), Operating System (IOS, Android, Windows, Others)

Market Drivers:
Growing Adoption of AI-Powered Chatbot’s by Small and Large Enterprises
Increased Productivity and Greater Customer Satisfaction for Businesses across Many Sectors of Global Economy
Reduction in Development Time, Operational Costs, with Embedded Crowdsourcing
Omni-Channel Deployment to Voice and Chat Channels

Market Trends:
Rapid Rise in Smart Speakers and Voice Search are Accelerating Conversational AI Adoption
AI-powered Chatbots with Human Fall Back Option

Opportunities:
Potential to Use AI-Powered Chatbots to Improve Conversion Rates, While Providing Operational Efficiencies
More and More Businesses Leveraging Conversational AI to Achieve Business Goals

Challenges:
Integration with Others Softwares and Platforms

Market Leaders and their expansionary development strategies:
On November 2, 2016, IBM has acquired XPS, a Watson-based AI chatbot for personal shopping, from software firm Fluid.
In July 2018, US-based AI-based chatbots solution provider IBM announced the launch of Watson Tone Analyzer, which is focused to make chatbots more responsive to emotions
On May 25, 2018, the European Union has introduced a new law The General Data Protection Regulation (GDPR), a regulation on data protection for European Union citizens. It also applies to the transfer of personal data outside of the EU area. GDPR gives users control over their personal information and whether they want to share or keep their data private. At the beginning of a conversation, the chatbot should provide users with a clear-cut, transparent, distinguishable, and easily accessible form to understand what data is collected, and how it will be used by the bot and organization.

Global AI Powered Chatbots Market, Regional Analysis: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa

Report Scope:
The report offers valuable insights into the impact of key players on the market, including their size, industry overview, and product offerings. To evaluate the expansion of these players, the report examines their recent advancements in the field. Covering all major geographical regions and sub-regions worldwide, the report specifically focuses on the market size, market shares, and competitive landscape of the AI Powered Chatbots industry, as well as sales and growth opportunities within these regions. Additionally, the report analyzes the upstream and downstream activities of market players, including their production and distribution channels, as well as product cost analysis. The report highlights critical information and factual data regarding market drivers, limitations, opportunities, trends, and future prospects.

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The following is a breakdown of the major topics covered in this document, presented in a Table of Contents format.

1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2023-2028
1.2.1. AI Powered Chatbots Market, by Type, 2023-2028
1.2.2. AI Powered Chatbots Market, by Application, 2023-2028
1.2.3. AI Powered Chatbots Market, by Region, 2023-2028
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

2. Global AI Powered Chatbots Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study

3. Global AI Powered Chatbots Market Dynamics
3.1. AI Powered Chatbots Market Impact Analysis (2023-2028)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities

4. Global AI Powered Chatbots Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry

5. Competitive Intelligence….

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