“Chatbot Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Chatbot Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
Top-Listed Players in Chatbot Market Research Report 2019-2023:
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Chatbot market reports provide a comprehensive overview of the worldwide market size and share. Chatbot market data reports also provide a 5-year historical, forecast for the sector, and include data on social-economic data of global. Key stakeholders can consider statistics, tables & figures mentioned in this report for strategic planning which lead to the success of the organization.
Overview of Chatbot Market Report:
The Chatbots Market was worth USD 946.55 million in 2017 and is projected to reach USD 5638.64 million by 2023 registering a CAGR of 34.64% over the period 2018 - 2023. The scope of the report is limited to type, including solution and service, deployment, including on-premise and cloud, and end-user vertical, such as BFSI, healthcare, IT and telecommunication, retail, utilities, government, and others. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The study also emphasizes the benefits of chatbots in accordance with the diverse application and future prospect of the same.
A chatbot is an artificial intelligence powered application, which converses with a human being to solve a problem or a certain query. This reduces the operational time and enhances efficiency, which is likely to boost the market growth. The companies are incorporating their customer service through diverse major messaging applications, such as WhatsApp and Facebook Messenger. For instance, Flipkart, an India-based e-commerce company provides delivery updates and resolves the issue through WhatsApp messenger using chatbot, which reduces the utilization of official application and enhances convenience. Furthermore, as of early 2018, about 1.4 billion people used messenger applications and are rapidly willing to converse with a chatbot, which is expected to have a positive impact on the market growth over the forecast period. Chatbots are poised to grow at a significant rate, owing to which the companies are ready to adopt the technology to their existing business portfolio. For example, Oracle, in late 2017, conducted a survey of about 800 marketing professionals out of which 80% were planning to execute the integration of chatbot in next 30 months.
Rising Utilization of Mobile and Website Applications
In today’s era, the users are more relied on mobile and website application from booking an appointment to procuring information. The companies are betting on the chatbots to enhance the consumer interface and experience by integrating with Facebook Messenger or WhatsApp. For instance, Goibibo, an India-based travel company has seamlessly integrated chatbots to WhatsApp messaging application wherein if a person books a flight through the company, user receives an automated WhatsApp message to confirm the seat allocation and meals preference further. Once the user selects the option, the preferred option(s) are registered in the system without logging into the application.
Cloud to be the Fastest Growing
The chatbots service based on the cloud offers high flexibility and scalability to the operations. Furthermore, the deployment on the cloud provides data access and instant analytics that can be used to take the crucial business decision(s). Currently, cloud services are preferred over on-premise hosting, owing to reduced cost as some companies offer pay as you go service wherein the integrator pays only for their fair usage, which is expected to propel the market growth over the next six years.
Asia Pacific to Witness the Highest Growth in Chatbot Market
In the Asia-Pacific region, there are numerous startups investing in the chatbots and machine learning technology. Additionally, small- and mid-sized enterprises are rapidly integrating the usage of chatbots offering seamless performance, handling a large number of consumers, and enhancing the customer-engagement techniques. For instance, Singapore Life, a Singapore-based insurer, in June 2018, built self-learning chatbot, which made the company’s services more accessible to the public through Facebook and other platforms and easier to understand, which is likely to boost the market growth in the region over the forecast period.
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Reasons to Purchase The Report
Valuable Points from Chatbot Market Research Report 2019-2023:
- A complete background analysis, which includes a valuation of the parental Chatbot Market.
- Significant changes in Market dynamics.
- Chatbot Market segmentation according to Top Regions.
- Current, Historical, and projected size of the Chatbot Market from the viewpoint of both value and volume.
- Reporting and assessment of recent industry developments.
- Chatbot Market shares and strategies of key Manufacturers.
- Emerging Specific segments and regional for Chatbot Market.
- An objective valuation of the trajectory of the Market.
- Recommendations to Top Companies for reinforcement their foothold in the Market.
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Highlights of the following key factors:
- Business description –A detailed description of the company’s operations and business divisions.
- Corporate strategy –Analyst’s summarization of the company’s business strategy.
- SWOT Analysis –A detailed analysis of the company’s strengths, weakness, opportunities, and threats.
- Company history –Progression of key events associated with the company.
- Major products and services –A list of major products, services, and brands of the company.
- Key competitors –A list of key competitors to the company.
- Important locations and subsidiaries –A list and contact details of key locations and subsidiaries of the company.
- Detailed financial ratios for the past five years –The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
Top Most Regions Covered In Chatbot Market Research Report 2019-2023:
Conclusively, this report will provide you a clear view of each fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.
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