Chatbot Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (Standalone, Web-based, Messenger-Based), By Application (Service, Social Media, Payments, Marketing, Others), By Product (Artificial Intelligence, Human Intelligence), By Organization Size (Small & Medium Enterprises (SMEs), Large Enterprises), By Vertical (Healthcare, Retail, Banking Fin
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationChatbot Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (Standalone, Web-based, Messenger-Based), By Application (Service, Social Media, Payments, Marketing, Others), By Product (Artificial Intelligence, Human Intelligence), By Organization Size (Small & Medium Enterprises (SMEs), Large Enterprises), By Vertical (Healthcare, Retail, Banking Fin
Global chatbot market is projected to grow at a CAGR of 22.6% during the forecast period due to the growing adoption of customer service activities among numerous enterprises in order to decrease the operating costs. The chatbot is an interactive application developed using rules of artificial intelligence (AI) technology. It is programmed to interact with humans through the textual conversation interaction process and is incorporated with various messaging services, thereby aiding users in multiple sectors. Numerous advancements in artificial intelligence and machine learning technologies are expected to improve the capabilities of chatbots. This is expected to drive market growth over the forecast period.
According to Global Statistics, 23% of customer service companies currently use AI chatbots, and 80% of people have interacted with a chatbot at some point.
Increasing Payments via Chatbots is Fueling the Market Growth
The payment gateways are the major trend for the growth of the chatbot market globally. Several payment services, including PayPal, have incorporated chatbots in their payment gateways and digital wallets in 2020. With the growing modernization, the application of chatbots is no longer limited to just customer service. The intelligent chatbot would walk them through the process until the final payment.
Growing Popularity of Voice Bots is Driving the Market Growth
The advancement in the conversational artificial intelligence (AI) with the usage of voice-driven search is propelling the market at a drastic rate for the upcoming years. Voice bot technology is the next generation technology which basically operates through advanced AI technology. Most of the consumers prefer voice cloning based interfaces over text-based interfaces on messaging platforms. The trend of using conversational bots to assist consumers over voice and text is rising. In education, travel, and insurance sectors, voice bots are expected to grow the adoption of chatbots with a seamless user experience.
Rising Demand for Emotionally Intelligent Bots is Stimulating the Market Growth
The rising demand for emotionally intelligent bots is slowly becoming a chatbot trend with newer, groundbreaking technology. For instance, facial feature detection AI software can detect a person’s feelings. Additionally, chatbots with emotional intelligence can figure out the moods of the user by analyzing the patterns of the texting behavior. The technology analyses capitalization, punctuation, and the voice commands to predict several emotions. Conversational AI with soft skills is expected to further humanize business and customer interactions.
Expanding Customer Service Experience via NLP-Powered Chatbots is Pushing the Market Growth
Chatbot technology driven by
Trend of Chatbots with a Human Touch is Driving the Market Growth
One of the emergent chatbot trends is bots with a human touch. Chatbots use artificial intelligence to suggest options when customers type in their inquiries. Chatbots are becoming increasingly sophisticated in terms of mimicking human conversation. The technology is advanced in such a manner that it identifies the right intent behind a query and provides an accurate response to that query by learning from interactions. Chatbots are beginning to pick up patterns in user behavior. Thus, chatbots are becoming indispensable for high-impact conversations, which in turn is expected to drive the chatbot market globally.
Market Segmentation
Company Profiles
Amazon Web Services, Inc., Artificial Solutions, AIVO, Creative Virtual Ltd., eGain Corporation, Inbenta Holdings Inc., IBM Corporation, Google LLC, Haptik Technologies Limited, Microsoft Corporation,
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Type Application Product Organization Size Vertical Region |
| Regional Scope | Asia-Pacific, North America, Europe, Middle East & Africa and South America |
| Country Scope | China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Turkey, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Colombia |
| Key Companies Profiled | Amazon Web Services, Inc., Artificial Solutions, AIVO, Creative Virtual Ltd., eGain Corporation, Inbenta Holdings Inc., IBM Corporation, Google LLC, Haptik Technologies Limited, Microsoft Corporation |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy