The global chatbot market is anticipated to grow at a CAGR of around 25.4% during the forecast period (2021-2027). The growth in the chatbot market is driven by the increased industrialization. Due to increased industrialization, the disposable income and standard of living in major economies has also increased due to which the demand for smartphone has surged. The industrialization has transformed many businesses, industries, economies, and societies. With advancement in AI-based and machine learning technologies, many small and big sized enterprises are now adopting effective customer care solution to improve their business activities and to maintain their customer relationship management. The factors that have surged the demand for chatbots comprises increasing 24/7 customer service solutions, advancements in technologies, and adoption of chatbots among various industries. Due to the benefits offered by the chatbots such low operational cost, personalized experience, robust customer data monitoring, easy implementation, better insights, among others are making them best asset for industries and big organizations. Surge in the integration of chatbots with social media apps such as Messengers, WhatsApp, WeChat, and increased awareness regarding their benefits has fueled the chatbot market growth.
Browse the full report description of "Global Chatbot Market Size, Share & Trends Analysis Report By Deployment Model (On-Premises, and Cloud-Based) By Component (Solution, and Services) By Verticals (Healthcare, Travel and Hospitality, Media and Entertainment, BFSI, and Others) By Application (Customer Care, Branding & Advertisement, and Others) Forecast, 2021-2027" at https://www.omrglobal.com/industry-reports/chatbot-market
Moreover, the major key players are also contributing to the growth of the market by providing advanced technology based chatbots. For instance, in January 2021, Amazon Web Service has launched Amazon Lex V2 console and APIs with 3 major benefits to build, deploy, and manage chatbots. Similarly, in February 2021, Kore.ai launched a contact center-as-a-service (CCaaS) AI based smart virtual assistance in Japanese to transform their customer service operations through the use of AI in native language. The increasing partnership collaborations among market players are also enhancing the market growth. In January 2019, IBM signed a partnership collaboration agreement Ingenico Group to build a payment-enabled chatbot in order to deliver personalized experiences to their customers.
Market Coverage
o By Component
o By Deployment Model
o By Verticals
o By Application
o North America
o Europe
o Asia-Pacific
o Rest of the World
Key questions addressed by the report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Global Chatbot Market Report Segment
By Deployment Model
By Component
By Verticals
By Application
Global Chatbot Market Report by Region
North America
Europe
Asia-Pacific
Rest of the World
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