0

Chatbot Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMTI21870

Download Sample Report download
Buy the Full ReportStarting from $3999
Published on

June 2022

Total pages

312

Table of Content

Download Sample Report download
Buy the Full ReportStarting from $3999

About the Report

About the Report

The chatbot is a computer program that simulates and processes human conversations, allowing humans to interact with digital devices and give them a human-like conversation experience. Furthermore, chatbots can be rudimentary programs that answer a simple query with a single-line response, or sophisticated digital assistants that learn and evolve with the help of AI to deliver increasing levels of personalization as they gather and process information. Moreover, with chatbots, businesses can scale, personalize, and be proactive all at the same time which is an important differentiator. For instance, when relying solely on humans, businesses can serve a limited number of people at one time. To be cost-effective, human-powered businesses are forced to focus on standardized models and are limited in their proactive and personalized outreach capabilities. Whereas chatbots are computer programs that can communicate with thousands of customers without any delay. Therefore, chatbots can save money and resources for businesses.
Based on components, the market is bifurcated into solutions and services. The service segment possessed a significant share of the revenue in the market in 2020 and is anticipated to grow at a prominent growth rate during the forecast period due to the increasing deployment of chatbot software and platforms, which leads to the increasing the demand for the services before and after deployment, as these solutions require training due to technical complexities
On the basis of type, the market is categorized into rule-based and AI-based. The rule-based chatbots segment held a prominent share of the revenue in the chatbot market in 2020 due to their simplicity and speed. This means rule-based chatbots are simpler to be built and deployed and they are really fast
Based on organization size, the market is segmented into large enterprises and SMEs. The large enterprises held a prominent share of the revenue in the chatbot market in 2020 due to the availability of resources to develop chatbots. Large enterprises use chatbots to enable sales, automate customer support, and marketing. Chatbots can help enterprises in cost-saving, increasing sales, increasing customer interaction, reaching new customers, and gaining a deeper understanding of customers
Based on deployment, the market is segmented into on-premises and cloud. The on-premises chatbots segment held a prominent share of the revenue in the chatbot market in 2020 due to the data control, customizability, and cost-saving features provided by the on-premises segment. Furthermore, the direct cost is more with an on-premises chatbot but the whole cost of ownership may be lesser, which means after removing the direct costs, the only ongoing costs are energy and maintenance. Moreover, cloud deployment works well when integrating with third-party applications and software with chatbots, but it is not suitable when companies want flexibility for customization. Another benefit on-premises is that they are less vulnerable to cyber attacks because enterprises can decide whom to allow access and whom to restrict
Based on application, the market is segmented into customer service, mobile applications, social media, payments/order processing, marketing, and others. The customer service segment possessed a significant share of the revenue in the market in 2020 and is anticipated to grow at a prominent growth rate during the forecast period due to the increasing interest of companies in chatbots to solve customer queries quickly and accurately which leads to a great customer experience. Since more companies are looking for cost-effective, smart, and automated solutions for customer services, the growth of this segment is further going to increase
On the basis of industry, the market is categorized into e-commerce, healthcare, information and communication technology, banking and financial services, consumer goods and retail, media and entertainment, government, and others. The e-commerce segment held a prominent share of the revenue in the chatbot market in 2020 due to the ability of chatbots to solve customer queries quickly and without error. In addition, chatbots act as brand representatives as they manage the inquiries in the initial stage, offering more satisfaction to customers with a problem-solving approach and effective guidance.
For a better understanding of the market adoption of the chatbot market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), and Rest of World. North America holds an extensive market share owing to the need for 24-hour customer support and instant response, which have fueled its demand. Furthermore, with the existence of key players in the market, including, IBM, Google, Yellow Messenger, and Amazon the demand for HPC in the region is likely to experience significant growth
Some of the major players operating in the market are Amazon.com Inc., [24]7.ai, Google LLC, International Business Machines Corporation, Yellow Messenger, Gupshup, Aivo, Conversica Inc., Nuance Communications Inc., and Kevit.io. These players are making several strategic decisions to boost their presence in different regions

Products


Companies

Amazon.com Inc., [24]7.ai, Google LLC, International Business Machines Corporation, Yellow Messenger, Gupshup, Aivo, Conversica Inc., Nuance Communications Inc., and Kevit.io

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stakeholders

1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Chatbot Market

2.2. Research Methodology of the Chatbot Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Chatbot Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 CHATBOT MARKET COVID-19 IMPACT

6 CHATBOT MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY COMPONENT

7.1. Solutions

7.2. Services

8 MARKET INSIGHTS BY TYPE

8.1. Rule-based

8.2. AI-based

9 MARKET INSIGHTS BY ORGANIZATION SIZE

9.1. Large Enterprises

9.2. SMEs

10 MARKET INSIGHTS BY DEPLOYMENT

10.1. On-Premises

10.2. Cloud

11 MARKET INSIGHTS BY APPLICATION

11.1. Customer Service

11.2. Mobile Applications

11.3. Social Media

11.4. Payments/Order Processing

11.5. Marketing

11.6. Others

12 MARKET INSIGHTS BY INDUSTRY

12.1. Customer Service

12.2. Mobile Applications

12.3. Social Media

12.4. Payments/Order Processing

12.5. Marketing

12.6. Others

13 MARKET INSIGHTS BY REGION

13.1. North America Chatbot Market

13.1.1. U.S.

13.1.2. Canada

13.1.3. Rest of North America

13.2. Europe Chatbot Market

13.2.1. Germany

13.2.2. U.K.

13.2.3. France

13.2.4. Italy

13.2.5. Spain

13.2.6. Rest of Europe

13.3. Asia-Pacific Chatbot Market

13.3.1. China

13.3.2. Japan

13.3.3. India

13.3.4. South Korea

13.3.5. Rest of Asia-Pacific

13.4. Rest of World Chatbot Market

14 CHATBOT MARKET DYNAMICS

14.1. Market Drivers

14.2. Market Challenges

14.3. Impact Analysis

15 CHATBOT MARKET OPPORTUNITIES

16 CHATBOT MARKET TRENDS

17 POLICY AND REGULATORY LANDSCAPE

18 DEMAND AND SUPPLY SIDE ANALYSIS

18.1. Demand Side Analysis

18.2. Supply Side Analysis

18.2.1. Top Product Launches

18.2.2. Top Business Partnerships

18.2.3. Top Business Expansions

18.2.4. Top Merger and Acquisitions

19 VALUE CHAIN ANALYSIS

20 COMPETITIVE SCENARIO

20.1. Porters Fiver Forces Analysis

20.1.1. Bargaining Power of Buyer

20.1.2. Bargaining Power of Supplier

20.1.3. Intensity of Rivalry

20.1.4. Threats of New Entrant

20.1.5. Threat of Substitute

20.2. Company Share Analysis, by Revenue

21 COMPANY PROFILED

21.1. Amazon.com Inc.

21.2. [24]7.ai

21.3. Google LLC

21.4. International Business Machines Corporation

21.5. Yellow Messenger

21.6. Gupshup

21.7. Aivo

21.8. Conversica Inc.

21.9. Nuance Communications Inc.

21.10. Kevit.io

22 DISCLAIMER

You can also purchase parts of this report.
Do you want to check out a section wise price list?
Get Price Break-up

Why Buy From US?

RRR
Refine Robust Result (RRR) Framework

What makes us stand out is that our consultants follows Robust, Refine and Result (RRR) methodology. i.e. Robust for clear definitions, approaches and sanity checking, Refine for differentiating respondents facts and opinions and Result for presenting data with story

reach
Our Reach Is Unmatched

We have set a benchmark in the industry by offering our clients with syndicated and customized market research reports featuring coverage of entire market as well as meticulous research and analyst insights.

Research
Shifting the Research Paradigm

While we don't replace traditional research, we flip the method upside down. Our dual approach of Top Bottom & Bottom Top ensures quality deliverable by not just verifying company fundamentals but also looking at the sector and macroeconomic factors.

Insite
More Insights-Better Decisions

With one step in the future, our research team constantly tries to show you the bigger picture. We help with some of the tough questions you may encounter along the way: How is the industry positioned? Best marketing channel? KPI's of competitors? By aligning every element, we help maximize success.

Trust
Transparency and Trust

Our report gives you instant access to the answers and sources that other companies might choose to hide. We elaborate each steps of research methodology we have used and showcase you the sample size to earn your trust.

support
Round the Clock Support

If you need any support, we are here! We pride ourselves on universe strength, data quality, and quick, friendly, and professional service.

Why Client Choose Us?

400000+ Reports in repository
150+ Consulting project a year
100+ Analysts
8000+ Client Queries in 2022