Press release
Chatbot Market seeing Strong Fundamentals; Expansion Continues | IBM, eGain, Amazon Web Services
Chatbot
Some of the major key players profiled in the study are IBM Corporation (United States), eGain Corporation (United States), Amazon Web Services Inc. (United States), Dialogflow (United States), Nuance Communications (United States), Creative Virtual Ltd (United Kingdom), Artificial Solutions Inc. (Sweden), Next IT Corp (United States), [24]7. ai Inc. (United States), Botsify (Pakistan).
The global Chatbot market size is expanding at robust growth of 23.3%, sizing up market trajectory from USD 5,132.80 Million in 2023 to USD 7048.4 Million by 2029.
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Definition:
The Chatbot Market refers to the market for computer programs or artificial intelligence (AI) software that can simulate conversation with human users through text-based or voice-based interfaces. Chatbots are designed to interact with users, provide information, answer questions, and perform simple tasks, such as making reservations or ordering products.
On the off chance that you are engaged with the industry or expect to be, at that point this investigation will give you a complete perspective. It's crucial you stay up with the latest sectioned by Applications [Customer Service Assistant, Payments, Order & Booking, Content Delivery, Others], Product Types [Menu or Button-based Chatbots, Keyword Recognition Based Chatbots, Contextual Chatbots, Others] and some significant parts of the business.
Market Trends:
 Rapid Development of Conversational AI Chatbots
Market Drivers:
 Growing Prevalence of Voice-Based Software
Market Opportunities:
 Rising Demand from E-Commerce, Banking and Retail Sector
Market Restraints:
 Rising Demand from E-Commerce, Banking and Retail Sector
Market Challenges:
 Rising Demand from E-Commerce, Banking and Retail Sector
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Chatbot Market by Key Players: IBM Corporation (United States), eGain Corporation (United States), Amazon Web Services Inc. (United States), Dialogflow (United States), Nuance Communications (United States), Creative Virtual Ltd (United Kingdom), Artificial Solutions Inc. (Sweden), Next IT Corp (United States), [24]7. ai Inc. (United States), Botsify (Pakistan)
Chatbot Market by Geographical Analysis:
• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, LATAM, Europe, Australia or Southeast Asia.
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +1 (434) 322-0091
sales@htfmarketreport.com
About Author:
HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, resea rch, tools, events, and experience that assist in decision-making.
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