Chatbots Market worth 3,172.0 Million USD by 2021 – New Report by MarketsandMarkets™

November 29 20:54 2018

The major vendors covered in the chatbots market for this study include Artificial Solutions (Stockholm, Sweden), IBM Watson (U.S.), Naunce Communications Inc. (U.S.), eGain Coporation (U.S.), Creative Virtual Pvt. Ltd. (U.K.), Next IT Corp. (U.S.) CX Company (Netherlands), Speaktoit Inc. (U.S.), 24/7 Customer Inc. (U.S.), and Codebaby (Idavatars), Inc. (U.S.).
Chatbots Market segmented by type as software and services, by usage as websites, contact centers, social media, and mobile platform, by deployment type, by industry verticals & by region

According to the new market research report ” Chatbots Market by Type (Software, and Services), Usage (Websites, Contact Centers, Social Media, and Mobile Platform), Deployment Type (On-Premises, and On-Cloud), Industry Verticals (Healthcare, Retail, Education), End User–Global Forecast to 2021“, published by MarketsandMarkets™, the chatbots market size is expected to grow from USD 703.3 Million in 2016 to USD 3,172.0 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 35.2% during 2016–2021.

Don’t miss out on business opportunities in Chatbots Market.Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=72302363

The major drivers for upsurge in demand for chatbot software and services include increasing penetration of websites and mobile applications, proliferating demand of intelligent customer engagement, strong need to understand consumer behavior, and adoption of cloud-based technology

Chatbots software is likely to hold the largest market share in the chatbots market

Enhanced technological features in chatbots software such as Natural Language Processor (NLP), multilingual, interference engine, metrics, cloud-based deployment, Application Programing Interface (API), mobile platform compatibility, analytics, multichannel, and single point of search is expected to spur the market growth. In addition to that, the software is widely used on the users’ smartphone, websites, social media, and call centers to answer all the queries, which would fuel the software segment growth in the coming years

Browse and in-depth TOC on ” Chatbots Market

64 – Tables

51 – Figures

154 – Pages

View more detailed TOC @

https://www.marketsandmarkets.com/Market-Reports/smart-advisor-market-72302363.html

Mobile platform segment is expected to grow at the highest CAGR during the forecast period

The market for mobile platform would witness a major growth because of the rise in the adoption of chatbots, which is propelled by the increasing penetration of smart phones as well as tablets across the globe. In addition to that, the smart mobile advisors provide help to the organization in real time monitoring of customer behavior, trends, and interaction. It also tracks mobile services, such as geo-location, enabling rich, targeted communications based on location and event.

North America is expected to hold the largest market share in the chatbots market

As per the geographic analysis, North America is likely to benefit from its technological advancements and followed by high usage of mobile, tablets, and computers. The adoption of chatbots across North America is estimated to rise at a significant rate due to client-centric approaches, provision of 24/7 customer engagement, operational efficiencies, cost containment, and sustainability benefits and the changing business dynamics. This eventually increases the penetration of chatbots deployment in this region.

Browse Adjacent Markets @ Artificial Intelligence (AI) Market Reports & Consulting 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

 

 

 

 

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Phone: 1-888-600-6441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL
Country: United States
Website: www.marketsandmarkets.com/Market-Reports/smart-advisor-market-72302363.html

  Categories: