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Chatbot Market, By Platform (Web-Based, Mobile and Stand-alone), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027<br>
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CHATBOT MARKET ANALYSIS Chatbot Market, By Platform (Web-Based, Mobile and Stand-alone), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
Market Overview • The global chatbot market was valued US$ 274.5 Mn in 2019 and expected to reach US$ 2,020.2Mn by 2027. • Market Dynamics- Drivers • Increasing use of advertisements in artificial intelligence is expected to drive growth of the global chatbot market during the forecast period • Growing need to provide effective and immediate customer support is expected to propel the global chatbot market growth over the forecast period
Market Dynamics- Drivers • Inability to recognize customer intent and respond quickly is expected to hinder the global chatbot market growth during the forecast period • Lack of awareness regarding benefits of chatbots is expected to restrain growth of the global chatbot market over the forecast period
Market Opportunities • Incorporation of natural language processing and natural language understanding can provide growth opportunities • Chatbot analytics is expected to present significant growth opportunities in the near future
Market Trends • Increasing number of companies providing information and other services via messaging bots • Improved customer intelligence using AI-based chatbots • Segment information: • In global chatbot market, by platform segment, the mobile, sub-segment dominated the global market in 2019, accounting for 43.9% share in terms of value, followed by Web- based and Standalone respectively.
Competitive Section • Key companies operating in the global chatbots market are Facebook, Inc., Kiwi, Inc., Astute Solutions, Google, Inc., Pandorabots, Inc., Haptik, Inc., Yahoo Inc., Helpshift, ToyTalk (PullString Inc.), Imperson Ltd. Slack Technologies, Inc., Kasisto Inc., and Microsoft Corporation.
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