“Global
Chatbots Market Analysis & Opportunity Outlook 2023”
The global chatbots market is
segmented into type such as stand-alone and web -based. Among these segments, web-based
segment is expected to dominate the global chatbots market by the end of 2023. The
expansion of the web-based chatbots segment can be attributed to adoption of
chat-bots by different enterprises to enhance customer experience and to assist
their customers in better ways.
Global chatbots market is
expected to register a 35.08% CAGR over the forecast period. Moreover, the global chatbots market
was valued at USD 88.5 Million in 2015 and is expected to reach at notable
revenue by the end of 2023. The market is expected to expand on the back of expanding
social networking websites across the globe. Further, expansion of social
networking websites and rising adoption of chatbots by large enterprises such
as Facebook Inc. are likely to create significant demand for chatbots during
the forecast period.
The large enterprises segment
by end use is likely to grow at remarkable pace during the forecast period. High
adoption rate of chatbots by large enterprises due to incredibly cost effective
and convenient operations of chatbots is envisioned to drive the growth of
global chatbots market during the forecast period.
Growing digital transformation
Rapid innovation with mobile technologies, artificial
intelligence, cloud computing and other digital innovation are the major
reasons which have led organizations to adopt new and advanced technologies in
order to get better results such as better customer interaction, improved
quality of product and services.
High adoption rate in large enterprises
Continuous expansion of social
network websites and high spending on advanced technologies by large
enterprises such as Facebook Inc., and Slack Technologies, Inc. are anticipated
to fuel the growth of global chatbots market during the forecast period.
Further, large enterprises are investing high on adoption and development of
chatbots for its extraordinary advantages such as easy to build, cost
effective, ability to interact with customers in naturally and friendly manner and easy to interact using simple
interface.
Although, a few number of
factors such as lack of awareness in underdeveloped countries and high
dependency on human employs for customer interaction in small and medium
enterprises are likely to inhibit the growth of the global chatbots market in
the near future.
The
report titled “Global
Chatbots Market Analysis & Opportunity Outlook 2023” delivers detailed overview of
the global chatbots market in terms of market segmentation by type, by end-use
and by region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global chatbots
market which includes company profiling of Facebook
Inc., Amazon Web Services Inc., Yahoo Inc., Pandorabots Inc., Microsoft Corp.,
ChattyPeople, Chatfuel, Motion AI, Inc., Pypestream Inc., PullString Inc.
The profiling enfolds key information of the companies which encompasses
business overview, products and services, key financials and recent news and
developments. On the whole, the report depicts detailed overview of the global chatbots
market that will help industry consultants, equipment manufacturers, existing
players searching for expansion opportunities, new players searching
possibilities and other stakeholders to align their market centric strategies
according to the ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
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Info:
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Daniel
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