According to the latest report by GMI Research, Chatbots Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2020-2027. The global chatbots market examines the impact of the COVID-19 pandemic and represents that the market will experience a slowdown in 2020, and will accelerate in 2021, growing at a significant growth rate from 2022 onwards. A Chatbot refers to a computer program that can communicate with the user through auditory or textual conversations. The chatbots are used in dialog systems for different practical purposes, including customer services or information acquisition. This computer program answers to all the queries through a single-line response and acts as digital assistants that learn and evolve to deliver an enhanced level of personalized experience.
Competitive Landscape: The global chatbots market report also scans the competitive landscape and profiles the major players operating in the market, including Google LLC, Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., Nuance Communications, Inc., Next IT Corp., eGain Corporation, Creative Virtual Ltd., Artificial Solution International AB, and Chatfuel.
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The significant factors boosting the growth of the global chatbot market are the continuous technological advancement in AI, natural language process, machine learning, and the reduction in chatbot development cost. Additionally, the increasing penetration of websites, smartphone users and the growing requirement to understand customer behavior will further energize the demand of the chatbots market around the world. Moreover, accelerating adoption of cloud-based technology such as IoT is expected to complement the chatbot market growth during the forecast period.
The COVID-19 pandemic has compelled the global organizations to rethink their strategies and the way they operate. With the growing emphasis on staying at home and strict lockdown, the overall amount of working population has drastically decreased, which in turn, has created a need for advanced solutions or software to cope up with the workload. This has increased the demands for chatbot solutions to capture the rising demand to deliver 24*7 customer support services to the target consumers, especially in BPO, banks, food delivery retailers, and many other service providers.
For further information on these analyses, please visit: https://www.gmiresearch.com/report/global-chatbot-market-industry-anaysis/
Market Segments:
Breakup by Deployment Mode:
- On-Cloud
- On-Premise
Breakup by Component:
- Software
- Services
Breakup by Industry:
- Healthcare
- IT & Comm.
- BFSI
- Retail
- Media
- Hospitality
- Others
Breakup by Region:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst use tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries.
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