Abstract
Summary
The market for chatbot market is estimated to grow from USD 5.4 billion in 2023 to USD 15.5 billion by 2028, at a CAGR of 23.3% during the forecast period. Increasing focus on customer engagement through various channels and rising usage of generative models in chatbots to drive growth in the chatbot market. Chatbots can be a valuable tool for enterprises looking to improve customer service, reduce costs, and increase efficiency.
The services segment is expected to grow at a higher CAGR during the forecast period
The global chatbot market is segmented based on offering solutions and services. Based on services segment is divided into managed services and professional services. The services segment is expected to grow at a higher CAGR during the forecast period. These services ensure faster and smoother implementation that maximizes the value of enterprise investments.
Voicebots segment to grow at a higher CAGR during the forecast period
The global chatbot market is segmented based on type into menu-based, linguistic-based, keyword recognition-based, contextual, hybrid, and voicebots. The voicebots segment is expected to grow rapidly during the forecast period. Voicebots can respond quickly and accurately to inquiries, providing a seamless customer experience. Voicebots can be a cost-effective way to provide customer support, as they can handle a large volume of inquiries without the need for human intervention. This can help to reduce the workload of customer support teams and lower overall costs.
Among verticals, retail and eCommerce segment hold the largest market size during the forecast period
Chatbots can benefit enterprises across various industries by improving customer service, reducing costs, and increasing efficiency. Across BFSI verticals, chatbots can provide customers with account information, answer inquiries about products and services, and help customers with transactions. This can help to improve customer service and reduce costs by automating routine tasks across BFSI verticals.
Asia Pacific to grow at a higher CAGR during the forecast period
The chatbot market has been segmented into five regions: North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Asia Pacific is expected to gain traction in the coming years. Countries such as China, Singapore, Japan, South Korea, ANZ, and India to offer ample of opportunities for the end users to leverage chatbots for more personalized recommendations in real-time . The Asia Pacific region has one of the largest and fastest-growing populations of internet and smartphone users. This has created a large market for chatbots, which can provide a convenient and efficient way for users to access information, products, and services.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the chatbot market.
By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%
By Designation: C-Level Executives: 35%, Directors: 25%, and Others: 40%
By Region: North America: 45%, Europe: 20%, Asia Pacific: 30%, Europe: 25%, ROW: 5%
The report includes the study of key players offering chatbot solutions and services. It profiles major vendors in the global chatbot market. The major vendors in the global chatbot market include Google (US), Microsoft (US), IBM (US), AWS (US), Baidu (China), Oracle (US), SAP (Germany), OpenAI (US), Salesforce (US), Meta (US), Artificial Solutions (Sweden), ServiceNow (US), [24]7.ai (US), Kore.ai (US), Conversica (US), Inbenta (US), Creative Virtual (US), Avaamo (US), Haptik (India), Solvvy (US), Gupshup (US), Aivo (US), Personetics (US), LivePerson (US), Freshworks (India), Engati (US), Botsify (Pakistan), Yellow.ai (US), Drift (US), Intercom (US), Chatfuel (US), Landbot (Spain), Pandorabots (US), Customers.ai (US), Rasa (Germany), and BotsCrew (UK).
Research Coverage
The market study covers the chatbot market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as offering, type, business function, bot communication, channel integration, vertical, and region .It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market for chatbots and its subsegments. It would help stakeholders understand the competitive landscape and gain better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the market’s pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Integration of sentiment analysis with chatbots for meaningful customer insights, Advancements in technology coupled with rising customer demand for self-service operations, Growth in need for 24×7 customer support at lower operational costs and Increase in focus on customer engagement through various channels), restraints (Inability to recognize customer intent and respond effectively), opportunities (Initiatives toward the development of self-learning chatbots to deliver human-like conversational experience, Rise in demand for AI-based chatbots to deliver enhanced customer experience, and Integration of sentiment analysis with chatbots for meaningful customer insights), and challenges (Complex and time-consuming setup and maintenance, Lack of awareness about effect of chatbot technology on various applications) influencing the growth of the chatbot market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the chatbot market
• Market Development: Comprehensive information about lucrative markets – the report analyses chatbot market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in chatbot market strategies; the report also helps stakeholders understand the pulse of the chatbot market and provides them with information on key market drivers, restraints, challenges, and opportunities.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players such as Google (US), Microsoft (US), IBM (US), AWS (US), Baidu (China), Meta (US), SAP (Germany), and Oracle (US) among others in the chatbot market.
Table of Contents
1 INTRODUCTION 34
1.1 STUDY OBJECTIVES 34
1.2 MARKET DEFINITION 34
1.2.1 INCLUSIONS AND EXCLUSIONS 35
1.3 MARKET SCOPE 36
1.3.1 MARKET SEGMENTATION 36
1.3.2 REGIONS COVERED 37
1.3.3 YEARS CONSIDERED 37
1.4 CURRENCY CONSIDERED 38
1.5 STAKEHOLDERS 38
1.6 SUMMARY OF CHANGES 38
1.6.1 IMPACT OF RECESSION 39
2 RESEARCH METHODOLOGY 40
2.1 RESEARCH DATA 40
2.1.1 SECONDARY DATA 41
2.1.2 PRIMARY DATA 41
- 2.1.2.1 Breakup of primary profiles 42
- 2.1.2.2 Key industry insights 42
2.2 MARKET BREAKUP AND DATA TRIANGULATION 43
2.3 MARKET SIZE ESTIMATION 44
2.3.1 TOP-DOWN APPROACH 44
2.3.2 BOTTOM-UP APPROACH 45
2.4 MARKET FORECAST 48
2.5 RESEARCH ASSUMPTIONS 49
2.6 LIMITATIONS 51
2.7 IMPLICATIONS OF RECESSION ON CHATBOT MARKET 51
3 EXECUTIVE SUMMARY 53
4 PREMIUM INSIGHTS 62
4.1 ATTRACTIVE OPPORTUNITIES IN CHATBOT MARKET 62
4.2 OVERVIEW OF RECESSION IN GLOBAL CHATBOT MARKET 62
4.3 CHATBOT MARKET: TOP THREE BUSINESS FUNCTIONS 63
4.4 NORTH AMERICA: CHATBOT MARKET, BY OFFERING AND TOP THREE VERTICALS 63
4.5 CHATBOT MARKET: BY REGION 64
5 MARKET OVERVIEW AND INDUSTRY TRENDS 65
5.1 INTRODUCTION 65
5.2 BRIEF HISTORY OF CHATBOT 65
5.3 CHATBOT MARKET: ARCHITECTURE 67
5.4 MARKET DYNAMICS 68
5.4.1 DRIVERS 69
- 5.4.1.1 Advancements in technology coupled with rising customer demand for self-service operations 69
- 5.4.1.2 Growth in need for 24×7 customer support at lower operational costs 70
- 5.4.1.3 Increase in focus on customer engagement through various channels 70
- 5.4.1.4 Rising usage of generative models in chatbots 70
5.4.2 RESTRAINTS 71
- 5.4.2.1 Inability to recognize customer intent and respond effectively 71
- 5.4.2.2 Accuracy concerns associated with voice authentication 72
5.4.3 OPPORTUNITIES 72
- 5.4.3.1 Initiatives toward development of self-learning chatbots to deliver human-like conversational experience 72
- 5.4.3.2 Rise in demand for AI-based chatbots to deliver enhanced customer experience 72
- 5.4.3.3 Integration of sentiment analysis with chatbots for meaningful customer insights 73
5.4.4 CHALLENGES 73
- 5.4.4.1 Lack of awareness about effect of chatbot technology on various applications 73
- 5.4.4.2 Complex and time-consuming setup and maintenance 73
5.5 CASE STUDY ANALYSIS 74
5.5.1 BFSI 74
- 5.5.1.1 Case Study 1: BankBazaar implemented Haptik’s chatbot to increase customer engagement and enhance customer reach 74
- 5.5.1.2 Case Study 2: Zurich Insurance Group worked with Spixii to develop Zara chatbot for quick notifications 75
- 5.5.1.3 Case Study 3: SIX Payment Services Ltd. partnered with Enterprise Bot to enhance customer service 75
- 5.5.1.4 Case Study 4: SEB Retail Bank enhances efficiency of internal and external support processes through IPsoft’s Amelia chatbot 76
5.5.2 RETAIL AND ECOMMERCE 77
- 5.5.2.1 Case Study 1: Kore.ai retail virtual assistants to process orders across digital channels 77
- 5.5.2.2 Case Study 2: Haptik helps JioMart with end-to-end shopping experience on WhatsApp 77
- 5.5.2.3 Case Study 3: Snaps offers personalized engagement model to Nike for increasing customer engagement via mobile channel 78
5.5.3 HEALTHCARE AND LIFE SCIENCES 78
- 5.5.3.1 Case Study 1: Tia selected RASA to incorporate HIPAA-compliant NLU and improve efficiency 78
- 5.5.3.2 Case Study 2: Kore.ai healthcare chatbots can automate routine tasks 79
- 5.5.3.3 Case Study 3: Netmeds partnered with Haptik to build chatbot capable of handling core challenges 79
5.5.4 TRANSPORTATION AND LOGISTICS 80
- 5.5.4.1 Case Study 1: Amtrak developed chatbot to help customers 80
- 5.5.4.2 Case Study 2: Ubisend offers Vanarama, a leasing chatbot solution, to enable customers to browse and handle customer queries 80
5.5.5 TRAVEL AND HOSPITALITY 81
- 5.5.5.1 Case Study 1: Indigo boosts customer satisfaction to 87% with Yellow.ai 81
- 5.5.5.2 Case Study 2: OYO integrated Haptik’s Live Chat Agent tool to provide customer support and handle queries over WhatsApp 81
5.5.6 TELECOM 82
- 5.5.6.1 Case Study 1: Elisa Estonia deployed MindTitan’s chatbot to analyze incoming chats and improve customer experience 82
5.5.7 MANUFACTURING 83
- 5.5.7.1 Case Study 1: L’Oréal partnered with Automat to develop messaging chatbot to increase customer engagement and enhance productivity 83
5.5.8 ENERGY AND UTILITIES 83
- 5.5.8.1 Case Study 1: ENN transitions to automated AI with IBM Watson Assistant 83
5.5.9 GOVERNMENT 84
- 5.5.9.1 Case Study 1: The State of New Jersey and IBM Consulting helps citizens efficiently with IBM virtual agents 84
5.6 SUPPLY CHAIN ANALYSIS 85
5.7 PATENT ANALYSIS 86
5.7.1 METHODOLOGY 86
5.7.2 DOCUMENT TYPE 86
5.7.3 INNOVATION AND PATENT APPLICATIONS 86
- 5.7.3.1 Top applicants 87
5.8 PRICING ANALYSIS 87
5.9 PORTER’S FIVE FORCES ANALYSIS 89
5.9.1 THREAT OF NEW ENTRANTS 90
5.9.2 THREAT OF SUBSTITUTES 90
5.9.3 BARGAINING POWER OF SUPPLIERS 90
5.9.4 BARGAINING POWER OF BUYERS 90
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 91
5.10 KEY CONFERENCES AND EVENTS, 2023-2024 91
5.11 KEY BENEFITS OF CHATBOT DEPLOYMENT ACROSS BUSINESSES 92
5.11.1 SCALING OPERATIONS 92
5.11.2 ENHANCED CX AND EX 92
5.11.3 SIGNIFICANT COST REDUCTION 92
5.11.4 LEAD GENERATION 92
5.11.5 PERSONALIZED RECOMMENDATIONS 93
5.12 CHATBOT ROADMAP UNTIL 2030 93
5.13 CHATBOT TOOLS AND FRAMEWORK 95
5.13.1 DIALOGFLOW BY GOOGLE 95
5.13.2 AMAZON LEX 95
5.13.3 IBM WATSON ASSISTANT 95
5.13.4 MICROSOFT BOT FRAMEWORK 95
5.13.5 RASA 95
5.13.6 BOTPRESS 95
5.14 ECOSYSTEM ANALYSIS 96
5.14.1 CHATBOT CLOUD PLATFORM PROVIDERS 97
5.14.2 CHATBOT API AND FRAMEWORK PROVIDERS 97
5.14.3 CHATBOT BUILDING PLATFORM PROVIDERS 97
5.14.4 CHATBOT END USERS 97
5.14.5 CHATBOT REGULATORS 97
5.15 CURRENT AND EMERGING BUSINESS MODELS USED FOR CHATBOT DEVELOPMENT 98
5.16 TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS OF CHATBOT MARKET 99
5.17 REGULATORY LANDSCAPE 100
5.17.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 100
5.18 KEY STAKEHOLDERS AND BUYING CRITERIA 103
5.18.1 KEY STAKEHOLDERS IN BUYING PROCESS 103
5.18.2 BUYING CRITERIA 103
5.19 TECHNOLOGY ANALYSIS 104
5.19.1 MACHINE LEARNING AND CHATBOT 104
5.19.2 DEEP LEARNING AND CHATBOT 105
5.19.3 NATURAL LANGUAGE PROCESSING AND CHATBOT 105
5.19.4 AUTOMATED SPEECH RECOGNITION AND CHATBOT 105
6 CHATBOT MARKET, BY OFFERING 106
6.1 INTRODUCTION 107
6.1.1 OFFERINGS: CHATBOT MARKET DRIVERS 107
6.2 SOLUTIONS 108
6.2.1 STANDALONE 110
- 6.2.1.1 Provides cost-effective, flexible, and scalable chatbot solutions 110
6.2.2 WEB-BASED 111
- 6.2.2.1 Rapid growth in chatbots to drive business value and enhance customer experience 111
6.2.3 MESSAGING-BASED 112
- 6.2.3.1 Rising popularity of messaging apps to drive market 112
6.2.4 OTHER SOLUTIONS 112
6.3 SERVICES 113
6.3.1 MANAGED SERVICES 114
6.3.2 PROFESSIONAL SERVICES 115
- 6.3.2.1 Training and consulting 117
- 6.3.2.1.1 Training and consulting services to play vital role in managing operations and technology updates 117
- 6.3.2.2 System integration and implementation 118
- 6.3.2.2.1 Rising need to ensure effective system communications led system integration and implementation services to gain traction 118
- 6.3.2.3 Support and maintenance 119
- 6.3.2.3.1 Demand for support and maintenance services to increase with rising chatbot deployment 119
- 6.3.2.1 Training and consulting 117
7 CHATBOT MARKET, BY TYPE 120
7.1 INTRODUCTION 121
7.1.1 TYPES: CHATBOT MARKET DRIVERS 121
7.2 MENU-BASED 122
7.2.1 STREAMLINES CONVERSATION AND PROVIDES EFFICIENT USER EXPERIENCE 122
7.3 LINGUISTIC-BASED 123
7.3.1 ADVANCES IN NLP TECHNOLOGY FOR CHATBOTS TO HELP ACCURATELY INTERPRET NATURAL LANGUAGE 123
7.4 KEYWORD RECOGNITION-BASED 124
7.4.1 PERSONALIZED RESPONSES BASED ON USER DATA TO HELP IMPROVE CUSTOMER SATISFACTION AND LOYALTY 124
7.5 CONTEXTUAL 125
7.5.1 PROVIDES PERSONALIZED EXPERIENCES TO CUSTOMERS BY UNDERSTANDING PREFERENCES 125
7.6 HYBRID 126
7.6.1 PROVIDES ADVANCED AND PERSONALIZED CHATBOT EXPERIENCES 126
7.7 VOICEBOTS 127
7.7.1 INCREASING USAGE OF VOICE ASSISTANTS TO BOOST MARKET 127
8 CHATBOT MARKET, BY CHANNEL INTEGRATION 129
8.1 INTRODUCTION 130
8.1.1 CHANNEL INTEGRATION: CHATBOT MARKET DRIVERS 130
8.2 EMAIL AND WEBSITE 131
8.2.1 GROWING NEED TO PROVIDE PRODUCT RECOMMENDATIONS TO WEBSITE VISITORS 131
8.3 MOBILE APPS 132
8.3.1 RISING NEED FOR PERSONALIZED RECOMMENDATIONS AND RESPONSES BASED ON USER BEHAVIOR AND PREFERENCES 132
8.4 TELEPHONE/IVR 133
8.4.1 FACILITATES CONVERSATIONS BETWEEN CUSTOMERS AND BUSINESSES 133
8.5 MESSAGING APPS 134
8.5.1 PROLIFERATION OF SMARTPHONES OFFERS OPPORTUNITIES FOR CHATBOT SOLUTION DEPLOYMENT 134
8.5.2 SOCIAL MESSENGER 136
8.5.3 ENTERPRISE MESSENGER 137
9 CHATBOT MARKET, BY BOT COMMUNICATION 139
9.1 INTRODUCTION 140
9.1.1 BOT COMMUNICATION: CHATBOT MARKET DRIVERS 140
9.2 TEXT 141
9.2.1 HANDLES MULTIPLE CUSTOMER INTERACTIONS WITH REDUCED WAITING TIME 141
9.3 AUDIO/VOICE 142
9.3.1 GROWING NEED FOR MORE PERSONALIZED INTERFACE AND BETTER MARKETING STRATEGIES TO BOOST MARKET 142
9.4 VIDEO 143
9.4.1 RISE OF REMOTE WORK AND VIRTUAL EVENTS TO PROPEL ADOPTION OF VIDEO CHATBOTS AMONG ENTERPRISES 143
10 CHATBOT MARKET, BY BUSINESS FUNCTION 145
10.1 INTRODUCTION 146
10.1.1 BUSINESS FUNCTIONS: CHATBOT MARKET DRIVERS 146
10.2 HUMAN RESOURCES 147
10.2.1 HR APPLICATIONS 148
10.2.2 RECRUITMENT 149
- 10.2.2.1 Provides effective onboarding process with real-time feedback analysis 149
10.2.3 ONBOARDING 149
- 10.2.3.1 Collects information from applicants and suggests long-term improvements 149
10.2.4 SURVEY 150
- 10.2.4.1 Provides efficient customer support 150
10.2.5 QUESTION ANSWERING 150
- 10.2.5.1 NLP enables chatbots to respond to users with human-like conversations 150
10.2.6 OTHER HR APPLICATIONS 150
10.3 SALES AND MARKETING 150
10.3.1 SALES AND MARKETING APPLICATIONS 151
10.3.2 CUSTOMER ENGAGEMENT AND RETENTION 152
- 10.3.2.1 Provides instant, personalized, and convenient service 152
10.3.3 BRANDING AND ADVERTISING 153
- 10.3.3.1 Provides personalized experiences and targeted messaging to potential customers 153
10.3.4 CAMPAIGN MANAGEMENT 153
- 10.3.4.1 Improves user experience and helps create personalized interaction 153
10.3.5 PERSONALIZED RECOMMENDATION 153
- 10.3.5.1 Collects and analyzes user data in real time 153
10.3.6 OTHER SALES AND MARKETING APPLICATIONS 153
10.4 FINANCE AND ACCOUNTING 154
10.4.1 FINANCE AND ACCOUNTING APPLICATIONS 155
10.4.2 CUSTOMER SUPPORT 156
- 10.4.2.1 Provides cost-effective, flexible, and scalable chatbot systems 156
10.4.3 PROCUREMENT MANAGEMENT 156
- 10.4.3.1 Reduces costs associated with manual labor and increases efficiency 156
10.4.4 EXPENSE TRACKING AND REPORTING 156
- 10.4.4.1 Provides comprehensive view of financial performance 156
10.4.5 DATA PRIVACY AND COMPLIANCE 156
- 10.4.5.1 Ensures chatbots to be secure, trustworthy, and compliant with legal requirements 156
10.4.6 OTHER FINANCE AND ACCOUNTING APPLICATIONS 157
10.5 INFORMATION TECHNOLOGY SERVICE MANAGEMENT 157
10.5.1 ITSM APPLICATIONS 158
10.5.2 INCIDENT MANAGEMENT 159
- 10.5.2.1 Provides regular updates on status and estimated resolution time 159
10.5.3 COST OPTIMIZATION 159
- 10.5.3.1 Eliminates redundancy and reduces software licensing costs 159
10.5.4 QUERY HANDLING 159
- 10.5.4.1 Provides better customer insights 159
10.5.5 KNOWLEDGE MANAGEMENT 159
- 10.5.5.1 Provides personalized responses to users based on history and preferences 159
10.5.6 OTHER ITSM APPLICATIONS 160
10.6 OPERATIONS AND SUPPLY CHAIN 160
10.6.1 OPERATIONS AND SUPPLY CHAIN APPLICATIONS 161
10.6.2 WORKFLOW OPTIMIZATION 162
- 10.6.2.1 Offers effective business operations process 162
10.6.3 SCHEDULING AND ROUTING 162
- 10.6.3.1 Rapid growth in chatbots drives business value and enhances efficiency and customer experience 162
10.6.4 INVENTORY MANAGEMENT 163
- 10.6.4.1 Improves efficiency and accuracy of orders 163
10.6.5 VENDOR ENGAGEMENT 163
- 10.6.5.1 Improves efficiency, reduces costs, and streamlines supply chain 163
10.6.6 OTHER OPERATIONS AND SUPPLY CHAIN APPLICATIONS 163
10.7 CONTACT CENTERS 163
10.7.1 CONTACT CENTERS APPLICATIONS 164
10.7.2 AGENT PERFORMANCE MANAGEMENT 165
- 10.7.2.1 Improves agent performance and customer satisfaction 165
10.7.3 AGENT WORKFORCE MANAGEMENT 165
- 10.7.3.1 Need to schedule training and assist firms to manage workforce 165
10.7.4 QUESTION ANSWERING 166
- 10.7.4.1 Improves efficiency by providing fast and accurate answers 166
10.7.5 CUSTOMER SUPPORT AND FEEDBACK 166
- 10.7.5.1 Enhances customer support services and builds stronger customer relationships 166
10.7.6 OTHER CONTACT CENTER APPLICATIONS 166
11 CHATBOT MARKET, BY VERTICAL 167
11.1 INTRODUCTION 168
11.1.1 VERTICALS: CHATBOT MARKET DRIVERS 168
11.2 BANKING, FINANCIAL SERVICES, AND INSURANCE 170
11.2.1 CHATBOT SOLUTIONS TO HELP REDUCE FRAUD, LEVERAGE INTELLIGENT, CUSTOMER-FOCUSED MARKETING 170
11.2.2 BANKING, FINANCIAL SERVICES, AND INSURANCE: CHATBOT USE CASES 171
11.3 ENERGY AND UTILITIES 172
11.3.1 IMPROVES CUSTOMER SERVICE, INCREASES EFFICIENCY, AND REDUCES COSTS 172
11.3.2 ENERGY AND UTILITIES: CHATBOT USE CASES 173
11.4 RETAIL AND ECOMMERCE 174
11.4.1 CHATBOTS HELP IN RETAINING CUSTOMERS, COLLECTING FEEDBACK, AND DRIVING SALES 174
11.4.2 RETAIL AND ECOMMERCE: CHATBOT USE CASES 174
11.5 IT AND ITES 175
11.5.1 PROVIDES MORE PERSONALIZED AND RELEVANT EXPERIENCE FOR CUSTOMERS BY UNDERSTANDING PREFERENCES 175
11.5.2 IT AND ITES: CHATBOT USE CASES 176
11.6 TRAVEL AND HOSPITALITY 177
11.6.1 GROWING NEED TO PROVIDE ADVANCED AND PERSONALIZED CHATBOT EXPERIENCES 177
11.6.2 TRAVEL AND HOSPITALITY: CHATBOT USE CASES 177
11.7 HEALTHCARE AND LIFE SCIENCES 178
11.7.1 INCREASING NEED TO IMPROVE ACCURACY OF SYMPTOM COLLECTION AND AILMENT IDENTIFICATION 178
11.7.2 HEALTHCARE AND LIFE SCIENCES: CHATBOT USE CASES 179
11.8 MEDIA AND ENTERTAINMENT 180
11.8.1 NEED TO IMPROVE AUDIENCE ENGAGEMENT WITH PERSONALIZED USER EXPERIENCE 180
11.8.2 MEDIA AND ENTERTAINMENT: CHATBOT USE CASES 181
11.9 GOVERNMENT AND DEFENSE 182
11.9.1 GOVERNMENT AGENCIES AND DEFENSE ORGANIZATIONS TO IMPROVE CUSTOMER SERVICE 182
11.9.2 GOVERNMENT AND DEFENSE: CHATBOT USE CASES 183
11.10 TELECOM 184
11.10.1 PROVIDES FAST AND EFFICIENT CUSTOMER SERVICES 184
11.10.2 TELECOM: CHATBOT USE CASES 184
11.11 OTHER VERTICALS 185
11.11.1 OTHER VERTICALS: CHATBOT USE CASES 186
12 CHATBOT MARKET, BY REGION 188
12.1 INTRODUCTION 189
12.2 NORTH AMERICA 191
12.2.1 NORTH AMERICA: CHATBOT MARKET DRIVERS 191
12.2.2 NORTH AMERICA: RECESSION IMPACT 191
12.2.3 US 199
- 12.2.3.1 Growing application of chatbot across verticals to drive market 199
12.2.4 CANADA 199
- 12.2.4.1 Rising adoption of cutting-edge technologies to enhance customer services and fuel market growth 199
12.3 EUROPE 200
12.3.1 EUROPE: CHATBOT MARKET DRIVERS 200
12.3.2 EUROPE: RECESSION IMPACT 200
12.3.3 UK 207
- 12.3.3.1 Growing adoption of chatbots in eCommerce and rising number of startups to fuel market growth 207
12.3.4 GERMANY 208
- 12.3.4.1 Growing adoption of cutting-edge digital technologies enables to adopt chatbot solutions in various verticals 208
12.3.5 FRANCE 208
- 12.3.5.1 Rising investments to adopt cutting-edge technologies and initiatives to support startups 208
12.3.6 ITALY 209
- 12.3.6.1 Chatbot solutions fulfill customer requests in personalized way 209
12.3.7 SPAIN 209
- 12.3.7.1 Rapid adoption of emerging technologies to enhance customer experience 209
12.3.8 REST OF EUROPE 209
- 12.3.8.1 Initiatives taken by government and rising application of chatbots across verticals to drive market 209
12.4 ASIA PACIFIC 210
12.4.1 ASIA PACIFIC: CHATBOT MARKET DRIVERS 210
12.4.2 ASIA PACIFIC: RECESSION IMPACT 210
12.4.3 CHINA 218
- 12.4.3.1 Growing chatbot solutions in various verticals to drive market 218
12.4.4 INDIA 219
- 12.4.4.1 Adoption of AI technology to drive market 219
12.4.5 JAPAN 219
- 12.4.5.1 Advancements in technologies and need to prevent data breaches to drive market 219
12.4.6 ANZ 220
- 12.4.6.1 Rising need to reduce overall operational costs to drive market 220
12.4.7 SOUTH KOREA 220
- 12.4.7.1 Adoption of AI and related technologies to help create favorable environment for market growth 220
12.4.8 ASEAN 220
- 12.4.8.1 Growing data generation to boost demand 220
12.4.9 REST OF ASIA PACIFIC 221
12.5 MIDDLE EAST AND AFRICA 221
12.5.1 MIDDLE EAST AND AFRICA: CHATBOT MARKET DRIVERS 221
12.5.2 MIDDLE EAST AND AFRICA: RECESSION IMPACT 221
12.5.3 UNITED ARAB EMIRATES 229
- 12.5.3.1 Chatbot solutions to offer customer support services 229
12.5.4 SAUDI ARABIA 229
- 12.5.4.1 Chatbot solutions to improve operational efficiency 229
12.5.5 SOUTH AFRICA 229
- 12.5.5.1 Emphasis on improving customer experience to drive demand for chatbot 229
12.5.6 ISRAEL 230
- 12.5.6.1 Rising need to reduce overall operational costs to drive market 230
12.5.7 EGYPT 230
- 12.5.7.1 Rapid evolution of digital products and services to grow market 230
12.5.8 REST OF MIDDLE EAST AND AFRICA 230
12.6 LATIN AMERICA 230
12.6.1 LATIN AMERICA: CHATBOT MARKET DRIVERS 231
12.6.2 LATIN AMERICA: RECESSION IMPACT 231
12.6.3 BRAZIL 238
- 12.6.3.1 Focuses on technologies and applications to grow market 238
12.6.4 MEXICO 239
- 12.6.4.1 Demand for AI-based technologies to drive growth 239
12.6.5 ARGENTINA 239
- 12.6.5.1 Rising chatbot startups for better customer experience to spur market growth 239
12.6.6 REST OF LATIN AMERICA 239
13 COMPETITIVE LANDSCAPE 240
13.1 OVERVIEW 240
13.2 KEY PLAYER STRATEGIES 240
13.3 REVENUE ANALYSIS 242
13.3.1 HISTORICAL REVENUE ANALYSIS 242
13.4 MARKET SHARE ANALYSIS 243
13.5 COMPANY EVALUATION QUADRANT 244
13.5.1 STARS 244
13.5.2 EMERGING LEADERS 244
13.5.3 PERVASIVE PLAYERS 245
13.5.4 PARTICIPANTS 245
13.5.5 COMPETITIVE BENCHMARKING 246
13.6 STARTUP/SME EVALUATION QUADRANT 247
13.6.1 PROGRESSIVE COMPANIES 248
13.6.2 RESPONSIVE COMPANIES 248
13.6.3 DYNAMIC COMPANIES 248
13.6.4 STARTING BLOCKS 248
13.6.5 STARTUPS/SMES COMPETITIVE BENCHMARKING 249
13.7 COMPETITIVE SCENARIO AND TRENDS 251
13.7.1 PRODUCT LAUNCHES 251
13.7.2 DEALS 254
13.8 CHATBOT MARKET PRODUCT LANDSCAPE 257
13.8.1 IBM WATSON ASSISTANT 258
13.8.2 AMAZON LEX 258
13.8.3 GOOGLE DIALOGFLOW 258
13.8.4 BLENDERBOT 3 258
13.8.5 OPENAI GPT-4 258
13.8.6 MICROSOFT BOT FRAMEWORK 258
14 COMPANY PROFILES 259
14.1 INTRODUCTION 259
14.2 KEY PLAYERS 259
14.2.1 MICROSOFT 259
14.2.2 IBM 263
14.2.3 GOOGLE 267
14.2.4 AWS 271
14.2.5 BAIDU 274
14.2.6 OPENAI 278
14.2.7 SALESFORCE 281
14.2.8 META 284
14.2.9 ARTIFICIAL SOLUTIONS 287
14.2.10 ORACLE 291
14.2.11 SAP 295
14.2.12 SERVICENOW 298
14.3 OTHER KEY PLAYERS 301
14.3.1 AVAAMO 301
14.3.2 CONVERSICA 302
14.3.3 HAPTIK 303
14.3.4 INBENTA 304
14.3.5 CREATIVE VIRTUAL 305
14.3.6 KORE.AI 306
14.3.7 [24]7.AI 307
14.3.8 AIVO 307
14.3.9 PERSONETICS 308
14.3.10 LIVEPERSON 308
14.3.11 GUPSHUP 309
14.3.12 FRESHWORKS 310
14.3.13 SOLVVY 310
14.3.14 PANDORABOTS 311
14.3.15 INTERCOM 311
14.4 STARTUP/SME PLAYERS 312
14.4.1 ENGATI 312
14.4.2 BOTSIFY 312
14.4.3 YELLOW.AI 313
14.4.4 DRIFT 313
14.4.5 CHATFUEL 314
14.4.6 LANDBOT.IO 314
14.4.7 CUSTOMERS.AI 315
14.4.8 BOTSCREW 315
14.4.9 RASA 316
15 ADJACENT AND RELATED MARKETS 317
15.1 INTRODUCTION 317
15.2 NLP MARKET - GLOBAL FORECAST TO 2027 317
15.2.1 MARKET DEFINITION 317
15.2.2 MARKET OVERVIEW 317
- 15.2.2.1 NLP market, by component 317
- 15.2.2.2 NLP market, by type 318
- 15.2.2.3 NLP market, by deployment mode 319
- 15.2.2.4 NLP market, by organization size 320
- 15.2.2.5 NLP market, by application 320
- 15.2.2.6 NLP market, by technology 321
- 15.2.2.7 NLP market, by vertical 322
- 15.2.2.8 NLP market, by region 324
15.3 SPEECH ANALYTICS MARKET - GLOBAL FORECAST TO 2027 325
15.3.1 MARKET DEFINITION 325
15.3.2 MARKET OVERVIEW 325
15.3.3 SPEECH ANALYTICS MARKET, BY COMPONENT 325
15.3.4 SPEECH ANALYTICS MARKET, BY BUSINESS FUNCTION 326
15.3.5 SPEECH ANALYTICS MARKET, BY ORGANIZATION SIZE 327
15.3.6 SPEECH ANALYTICS MARKET, BY DEPLOYMENT MODE 328
15.3.7 SPEECH ANALYTICS MARKET, BY APPLICATION 328
15.3.8 SPEECH ANALYTICS MARKET, BY VERTICAL 329
15.3.9 SPEECH ANALYTICS MARKET, BY REGION 330
16 APPENDIX 332
16.1 DISCUSSION GUIDE 332
16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 339
16.3 CUSTOMIZATION OPTIONS 341
16.4 RELATED REPORTS 341
16.5 AUTHOR DETAILS 342