Chatbot Market Size, Share & Growth Report

 

Global Chatbot Market

GMI Research presumes that the global Chatbot Market will witness a significant boom over the forecast period primarily because of the ongoing developments in Artificial Intelligence and machine learning along with their deployment in various end-user industries such as retail, healthcare, and BFSI.

The factors contributing to the growth of the global chatbot market include the increasing implementation of chatbots across several end-use industries, growing consumer demand for round-the-clock support service, and their ability to offer a customized experience without any disturbance. In addition, enormous leading giants such as use chatbots to seize customers efficiently while providing a flawless customer experience. Increasing adoption of chatbot by various leading companies including KLM Dutch Airlines, Starbuck, and Bank of America to provide a seamless experience to the customers has driven the Chatbot market growth. In addition, the deployment of self-learning chatbots to gather feedback, monitor consumer data, and trace purchasing patterns in order to interpret data in minimum time and offer accurate information will strengthen the Chatbot Market share.

Based on the Technology, Natural Language Processing is projected to capture the highest share over the coming years, owing to the rising need to offer a high-quality customer experience and accelerating penetration of smart devices. As per the Chatbot Market analysis, increasing adoption of cloud-based and web business applications with the continuous modernizations in machine-to-machine technology has supplemented the segment’s size.

Based on the Deployment Model, On-Premises Chatbot is forecast to expand at a faster CAGR over the forecast period, owing to their ability to reduce operational cost and ensure safety.

Based on region, Asia-Pacific is expected to dominate the market during the forecast period, primarily because of the increasing investments in chatbot and machine learning technology and rising adoption of chatbots by small and medium-sized enterprises to ensure customer engagement.

Chatbot Market Segmentation:

Segmentation by Component
  • Solutions
  • Platform
  • Software
  • Services
  • Managed Services
  • Professional Services
Segmentation by Technology
  • Machine Learning and Deep Learning
  • Natural Language Processing
  • Automated Speech Recognition
Segmentation by Deployment Model        
  • On-Premises
  • Cloud
Segmentation by Usage
  • Websites
  • Contact Centres
  • Social Media
  • Mobile Platform
Segmentation by Organization Size
  • Large Enterprises
  • Small and Medium-Sized Enterprises
Segmentation by Application
  • Customer Support
  • Personal Assistant
  • Branding and Advertisement
  • Customer Engagement and Retention
  • Data Privacy and Compliance
  • On-Boarding and Employee Engagement
  • Others
Segmentation by Vertical
  • Banking & Financial Services and Insurance
  • Retail and Ecommerce
  • Healthcare
  • Travel and Hospitality
  • Media and Entertainment
  • Telecommunications
  • Others
Segmentation by Region:
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • RoW
    • UAE
    • Brazil
    • South Africa
    • Saudi Arabia

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
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Website: www.gmiresearch.com

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