Press release
Insurance Chatbot Global Market Expected to Witness $1.94 Billion with Impressive Growth at a 26.0% CAGR By 2028
Insurance Chatbot Global Market
The Business Research Company presents an extensive market research report on the Insurance Chatbot Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The insurance chatbot market size has grown exponentially in recent years. It will grow from $0.61 billion in 2023 to $0.77 billion in 2024 at a compound annual growth rate (CAGR) of 26.3%. The growth in the historic period can be attributed to focus on personalization, expansion of multichannel capabilities, increased use in claims processing, use of predictive analytics, integration with voice assistants.
The insurance chatbot market size is expected to see exponential growth in the next few years. It will grow to $1.94 billion in 2028 at a compound annual growth rate (CAGR) of 26.0%. The growth in the forecast period can be attributed to increasing customer expectations, cost efficiency and automation, rise of digital channels, enhanced customer engagement, rapid growth in insurtech. Major trends in the forecast period include continuous ai advancements, explainable ai (xai), dynamic scripting and adaptive conversations, ai-powered fraud detection, human augmentation in customer support.
Request for free sample report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=13682&type=smp
Key Market Players:
Major companies operating in the insurance chatbot market report are Amazon.com Inc., International Business Machines Corporation, Allstate Corporation, Oracle Corporation, Geico, Nuance Communications, Verint Systems Inc., Userlike, Shift Technologies, LivePerson Inc., Lemonade , Yellow.ai, Boostlingo, Conversica, Ada Support Inc., ShareChat, Snapsheet, Insurify, Lexalytics Inc., Spixii, Chatfuel, Livegenic, Violet, Alphachat.ai, Sense360, Botsify, ManyChat, Engati, Inbenta Technologies Inc., SANA Benefits
Market Drivers:
The rising demand for automated services is expected to propel the growth of the insurance chatbot market going forward. Automated services refer to processes, tasks, or systems that operate and perform functions with minimal human intervention, relying on automation technologies, algorithms, and artificial intelligence to execute predefined actions or workflows. Insurance chatbots are virtual assistants powered by artificial intelligence (AI) that can automate various tasks and services for insurance companies and their customers. Automation allows insurance chatbots to handle routine tasks, provide real-time support, and contribute to a more seamless and responsive customer experience. For instance, in May 2023, according to Formstack, a US-based software company, around 76% of organizations employ automation to optimize their daily workflows, 58% utilize automation for data and reporting to facilitate planning, and 36% integrate automation to ensure compliance with regulations. Therefore, the rising demand for automated services is driving the growth of the insurance chatbot market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/insurance-chatbot-global-market-report
The insurance chatbot market covered in this report is segmented -
1) By Type: Customer Service Chatbots, Sales Chatbots, Claims Processing Chatbots, Underwriting Chatbots, Other Types
2) By User Interface: Text-based Interface, Voice-based Interface
3) By Platform: Web-based, Mobile-based
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model "
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Insurance Chatbot Global Market Expected to Witness $1.94 Billion with Impressive Growth at a 26.0% CAGR By 2028 here
News-ID: 3437266 • Views: …
More Releases from The Business research company
2025-2034 Laboratory Information System Market Evolution: Disruptions, Innovatio …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Laboratory Information System Market Through 2025?
The size of the laboratory information system market has experienced robust expansion lately, projected to ascend from its 2024 valuation of $2.57 billion to $2.73 billion by 2025, reflecting a compound annual growth rate (CAGR) of…
Global Hiv Cases Drive Demand For Flow Cytometry In Diagnosis: Critical Driver S …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Flow Cytometry Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The expanse of the flow cytometry market has shown remarkable upward momentum across recent years, projected to increase its valuation from a figure of $6.88 billion in 2024 to $7.49 billion come 2025, reflecting an…
Emerging Trends to Drive Secure Messaging In Healthcare Market Growth at 19% CAG …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Secure Messaging In Healare Market Size Growth Forecast: What to Expect by 2025?
The sphere of secure messaging within the healare sector has experienced substantial recent expansion, projected to advance from a valuation of $0.83 billion in the year 2024 to $0.99 billion by 2025, reflecting an annualized growth…
Rising Security Breaches Drive Growth In Healthcare Identity Management Market: …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Healare Identity Management Market Size By 2025?
Recent years have marked a swift expansion in the scale of the healare identity management sector, projected to increase from a value of $4.57 billion in 2024 to $5.14 billion throughout 2025, reflecting an annual compound growth rate…
More Releases for Chatbot
Key Trends Reshaping the Chatbot Market: Innovative Technological Advancements R …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Chatbot Market Size Growth Forecast: What to Expect by 2025?
The size of the chatbot market has seen rapid expansion over the recent past. There will be growth from $8.27 billion in 2024 to a sum of $10.25 billion in 2025, reflecting a compound annual growth rate (CAGR) of…
Evolving Market Trends In The Chatbot Industry: Innovative Technological Advance …
The Chatbot Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Chatbot Market Size During the Forecast Period?
In the past few years, the size of the chatbot market has experienced a considerable expansion. It is projected to increase from a market size…
Global Chatbot Market Size by Application, Type, and Geography: Forecast to Chat …
USA, New Jersey- According to Market Research Intellect, the global Chatbot market in the Internet, Communication and Technology category is projected to witness significant growth from 2025 to 2032. Market dynamics, technological advancements, and evolving consumer demand are expected to drive expansion during this period.
The market for chatbots is growing quickly due to its growing use in various industries for cost-cutting, automation, and consumer interaction. To improve user experience…
Chatbot Market: A Deep Dive
Introduction
Chatbots, powered by artificial intelligence (AI), have become an essential part of modern business interactions. These automated programs simulate human conversation and help businesses provide customer support, answer queries, and even facilitate sales. Initially seen as a novelty, chatbots are now widespread across various industries like retail, healthcare, banking, and e-commerce. Their ability to enhance customer engagement and reduce operational costs has made them invaluable. With continuous advancements in natural…
Global Chatbot Market Size & Trends
According to a new market research report published by Global Market Estimates, the Global Chatbot Market is expected to grow at a CAGR of 25.2% from 2023 to 2028.
The key players covered in the global chatbot market are Google, Microsoft, Amazon, Acuvate, Aivo, Artificial Solutions, Botsify Inc., Creative Virtual Ltd., eGain Corporation, IBM Corporation, Inbenta Technologies Inc., Next IT Corp., Nuance Communications, Inc., Slack Technologies Inc., and OpenAI among others.…
Global Chatbot Market - Large Enterprises Making Smart Headway Using Chatbot Adv …
Latest Research Report titled " Chatbot Market (Platform - Web-based, Mobile, and Standalone; Enterprise Size - Small and Medium Enterprises and Large Enterprises) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024 " features Key Market Players, Segments, Applications. Report Presents Global Market Survey, Growth, Challenges and Forecast.
Chatbot refers to a computer program, which stimulates the conversation between human and the machine. Generally, a chatbot acts…
