Press release
Chatbots Market to reach USD 24.93 Bn by 2029, Technological Advancements and Growth Opportunities
Chatbots Market
Chatbots Market Report Scope and Research Methodology
A chatbot is a software app that conducts online chat conversations via text, simulating the way a human would interact with another person. Chatbots are used as dialogue tools for various purposes, such as customer service, request processing, and information gathering.
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The rise of social media messaging is a key driving factor of the chatbots market, which is mostly driven by the help of AI. The report includes an in-depth segmentation of the market, which is further sub-segmented into different end-users, application industries, and regional analyses.
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Chatbots Market Dynamics
The report also covers the market dynamics, such as the increasing need for low operation costs in case of efficient customer support, which is driving the demand for chatbots. The report also identifies a crucial restraint of the market, which is the lack of accuracy in the user voice authentication methodologies.
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The key opportunity in the market is the rise and development of self-learning chatbots, which provide a conversational experience that is equivalent to that of a person. Self-learning chatbots adapt to different conditions in the environment in which they operate and learn from their actions and decisions.
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Chatbots Market Regional Insights
The growth parameters mentioned, such as the progress in technology, the rise in internet usage, and the lower prices of smartphones and tablets in North America, are all contributing factors to the growth of the chatbots market in this region. Similarly, the factors driving the growth in the Asia-Pacific region include the flexible economic situations, industrialization, globalization-based legislations of governments, and digitization. It's clear that the chatbots market is a global one, with opportunities for growth and investment across different regions.
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Chatbots Market Segmentation
By End-Users:
• Small & Medium Enterprises
• Large Enterprises
By Application:
• Social Media Bots
• Payments/ Order processing Bots
• Service Bots
• Retail & Marketing Bots
• Other
By Industry:
• Media and entertainment
• E-commerce
• Banking, Financial Services, and Insurance (BFSI)
• Healthcare
• Travel & Tourism
• Others
Chatbots Market Key Competitors include:
• Artificial Solutions
• Kore.ai
• Inbenta
• [24]7.AI
• Aivo
• ServiceNow
• Conversica
• Personetics
• LiveChat
• MindMeld
• CogniCor
• Gupshup
• Contus
• Chatfuel
• KeyReply
• SmartBots
• Yellow Messenger
• Kevit
• Yekaliva
• Pypestream
Table of Content for Chatbots Market
Global Chatbots Market: Research Methodology
Global Chatbots Market: Executive Summary
Market Overview and Definitions
Introduction to Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Chatbots Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Chatbots Market Segmentation
Global Market, by End-Users (2021-2029)
Global Market, by Application (2021-2029)
Global Market, by Industry (2021-2029)
Regional Chatbots Market (2021-2029)
Regional Market, by End-Users (2021-2029)
Regional Market, by Application (2021-2029)
Regional Market, by Industry (2021-2029)
Regional Market, by Country (2021-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by End-Users, Application and Industry
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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