London, UK -- (SBWIRE) -- 03/30/2022 -- The Global Chatbot Market Size 2022-2028 study consists of details related to the market dynamics, the information about which segments within the industry are growing, who are the major players what are their market strategies and shares within the industry. This study offers a detail information on the historical data pointers of the global market as well as market forecasts by region/country for the sectors and subsectors. This includes data related to the market's sales volume, average pricing, revenue generated, the gross margin, trends, historical information, and future dynamics. It provides detailed data on all areas, as well as assessment all segments, categories, for regional and country level market.

This provides companies, individual investors, the key stakeholders, and others with valuable information while evaluating the Chatbot market. The trend in global industry is investigated to gain a better knowledge of the present or future market scenario. Since the data we provide in the report is from the supply side of the industry hence the provided data gives information on the year-on-year growth for major regions and verticals within the industry. To maintain highest level of accuracy we keep a tight check on the methodology we use. We conduct interviews and desk research to make sure all the figures and tables are in line to market scenario.

Global Chatbot Market is valued approximately USD 428.9 million in 2020 and is anticipated to grow with a healthy growth rate of more than 23.95% over the forecast period 2021-2027.

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A chatbot is an artificial intelligence software that simulates and processes human conversation (either written or spoken) with a user in natural language via messaging applications, websites, or mobile apps. Driven by AI, machine learning and natural-language processing, chatbots process data to deliver answers to questions of all types. Chatbots are useful in improving operational efficiency, cost-cutting for businesses while offering ease of use, providing added services to employees and customers. They also help organizations to effortlessly resolve various customer queries and problems while reducing the need of human interface. In addition to all this, they allow companies to cater to an unlimited number of customers in a personal way and can be scaled up or down, given the business demands. The data captured by chatbots can be used for internal analysis by the company by generating insights from it. All the aforementioned features, augmented by increased demand from end-use industries such as healthcare, hospitality, retail, e-commerce etc., are acting as drivers for the growth of chatbot market. According to United Nations Conference on Trade and Development, global e-commerce sales jumped to $26.7 trillion in 2019, up 4% from $25.6 trillion in 2018. In addition to that, COVID-19 pandemic increased online retail sales share of total retail sales from 16% to 19% in 2020. The United States continued to dominate the overall e-commerce market, followed by Japan, China, South Korea and UK. The faster adoption of e-commerce will certainly propel chatbots market as manual customer problem resolution and grievance redressal will become tough to execute.

The lack of human interaction and absence of detailed and personalized query resolution in chatbots may restraint its growth to some extent since many businesses might resist the chatbot adoption in their firm. Nonetheless, the post-pandemic landscape acts as an opportunity for chatbot market in the following decade as many businesses are moving towards virtual and automated mode of customer interaction.

The research study includes profiles of leading companies operating in the global Chatbot Market:
[24]7.ai, Inc
Acuvate
Aivo
Artificial Solutions
Botsify Inc.
Creative Virtual Ltd.
eGain Corporation
IBM Corporation
Inbenta Technologies Inc.
Next IT Corp.

Market Segmentation:
The Chatbot report is compiled after checking the elements that act as an influential role in the regional growth, which includes the region's socio-economical avenues of the market, the technological, environmental, and political situation. Our researchers have taken a deep look over each major region's revenue, their production data across major segments. This chapter examines revenue and volume by region for the forecasted time frame. This kind of information provided in the study would help our readers to get enlightened about the market and help them to better determine about the are to invest or divest.

The detailed segments and sub-segment of the market are explained below:

By End user:
Large enterprise
Medium enterprise
Small enterprise

By Application:
Bots for service
Bots for social media
Bot for payments/order processing
Bots for marketing
Others

By Type:
Standalone
Web based
Messenger based/third Party

By Product Landscape:
Artificial intelligence
Marketing
Human intelligence

By Vertical:
Healthcare
Retail
Banking
Media and entertainment
Travel & tourism
E-commerce
Others

Regional Analysis Covered in this report:
North America [United States, Canada]
Europe [Germany, France, U.K., Italy, Russia]
Asia-Pacific [China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia]
Latin America [Mexico, Brazil, Argentina]
Middle East & Africa [Turkey, Saudi Arabia, UAE]

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(Note: The report will be updated with COVID-19 impact analysis before delivery)

Competitive Outlook:
This chapter within the study highlights and outlines the Chatbot market's major players. It helps the readers in understanding of the implemented strategies by the major players thereby focusing on the right path when expanding or entering the market. Highlighting the recent developments and the financials of the profiled companies gives an idea of the market's direction. Using this as an important footprint other companies can map their strategic moves and align the same when eying for their next big decision.

Table of Content & Major Key Points
Chapter 1. Executive Summary
Chapter 2. Global Chatbot Market Definition and Scope
Chapter 3. Global Chatbot Market Dynamics
Chapter 4. Global Chatbot Market Industry Analysis
Chapter 5. Global Chatbot Market, by Product
Chapter 6. Global Chatbot Market, by Distribution Channel
Chapter 7. Global Chatbot Market, Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Research Process

Report Conclusion:
To learn more about the Chatbot market, contact us for a discussion/ walk through on the topic. We will guide you in the process of making an informed decision which intern would channelize the revenue path for our readers.

Key Questions Answered in the Chatbot Market Report:
How has the pandemic affected the market supply chain and production which in turn has impacted the revenue?
How has the market share scenario changed over the years and the reason behind the same?
What are the dynamics of the market including the drivers as well as the opportunities?
Which segment, country or players are leading the market and what is working best for their strategic moves?

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