Chatbots Market Global Industry Scenario, Size, Share, Trends, Analysis and Forecast, 2019 - 2028

The global chatbots market is expected to experience tremendous growth during the forecast period, i.e., 2021 – 2028. Chatbots is AI-based software programmed in such a manner that helps extract the information provided by users and caters to their requirements. The Chatbots market globally has primarily been a boon to the healthcare industry. The intervention of chatbots has made human life much easier especially in the healthcare industry as it gives the ease of booking appointments, cancellations, and taking therapy sessions to the patients. The targeted audiences of the chatbots market are mainly healthcare IT solution providers, patients seeking treatment, hospitals, laboratories, and diagnostic centers. Especially the outbreak of covid-19 have encouraged people to opt for online health therapy sessions as a result various organizations in healthcare, IT sectors, and other industries have adopted chatbots to make human life simpler and ensure 24x7 customer support.

Market Dynamics

The few driving factors of the global chatbots market are 24x7 customer assistance, easily accessible bots with the human touch, the demand for virtual health assistance, programs, and initiatives taken by various organizations to influence people to use healthcare chatbots, rising adoption in electronic gadgets and internet connectivity. One of the major restraints of Chatbots is that it is programmed to answer only certain specific questions, chatbots will be clueless if they encounter questions from customers which they are not programmed to answer. Also, the lack of awareness among people about the functionalities of chatbots and the leading misconceptions on adopting Chatbots is a major restraint. Concerns about data privacy and lack of skills to program or develop chatbots are also causing a barrier in the growth of the global chatbots market.

Scope of Global Chatbots Market

This report is compiled with extensive research and in-depth analysis of the key market trends of the global chatbots market. The report also presents a detailed study on the market’s key players and its dynamics. By component global chatbots market is divided into hardware and software. By technology, the global chatbots market is segmented into AI (Artificial Intelligence), Human Intelligence, Machine Learning, and Automated Speech Recognition (ASR). By audience type market can be further classified into Market Research & consulting firms, IT Solution Providers, Service Desk Analysts, Investors, University Students, and Business Entrepreneurs. By usage, the market can be further divided into websites, support centers, and social media platforms. By deployment type global chatbots market can be further segmented into on-premise and cloud-based. By enterprise size, the market can be classified into small-scale and large-scale industries. By application, the market can be further bifurcated into Customer Support, Branding and Advertisements, Personal Assistant, Employee Management, and others. By end-users, the market can be segmented into Media and Entertainment, Banking, Financial Services and Insurance (BFSI), Healthcare and Life Sciences, Retail and e-commerce, Travel Industry and Hospitality, Telecommunications, and others. By region, the chatbots market can be segmented into various countries of North America, Europe, Asia Pacific, and the Rest of the World (RoW).

Key Players of Global Chatbots Market

The prominent players of global chatbots market are IBM Corporation(US), Nuance Communications (US),  [24]7.ai (US), Chatfuel (US), AIVO (Argentina), Botsify (Pakistan), Passage AI (US), Google (US), Amazon Web Services(US), Artificial Solutions (Spain), Inbenta Technologies (US), Kore.ai (US), KeyReply (Singapore), CogniCor (US), Conversica (US), SmartBots (US), Yekaliva (India), Contus (India), Yellow Messenger (India), Gupshup (US), Kevit (India),  Buoy Health, Inc. (US), Infermedica (Poland), Babylon Healthcare Service Limited (UK), HealthTap, Inc. (US) and Sensely, Inc. (US).

Key Benefits of the Report

  • The report is a robust study on the latest trends of the global chatbots market and future estimations of market growth rate.
  • The report covers insights on the market about its market drivers, challenges, key players, and opportunities.
  • Research is done using Porter’s five forces analysis, SWOT analysis, and PEST analysis.
  • The report also covers the entire market segmentation globally.
  • The study also covers major acquisitions, mergers, and other developments.

Market Segmentation of Global Chatbots Market

By Component

  • Hardware
  • Software

By Technology

  • AI (Artificial Intelligence)
  • Human Intelligence
  • Machine Learning
  • Automated Speech Recognition (ASR)

By Audience Type

  • Market Research & consulting firms
  • IT Solution Providers
  • Service Desk Analysts
  • Investors
  • University Students
  • Business Entrepreneurs

By usage

  • Websites
  • Support Centres
  • Social Media Platform

By Deployment Type

  • On-Premise
  • Cloud based

By Enterprise size

  • Small Scale Industries
  • Large Scale Industries

By Application

  • Customer Support
  • Branding and Advertisements
  • Personal Assistant
  • Employee Management
  • Others

By End Users

  • Media and Entertainment
  • Banking, Financial Services and Insurance (BFSI)
  • Healthcare and Life Sciences
  • Retail and e-commerce
  • Travel Industry and Hospitality
  • Telecommunications
  • Others

By Region:

  • North America
    • o    The U.S.
    • o    Mexico
    • o    Canada
    • Europe
      • o    The U.K.
      • o    Germany
      • o    France
      • o    Italy
      • o    Spain
      • o    Belgium
      • o    Switzerland
      • o    Netherlands
      • o    Rest of Europe
      • Asia Pacific
        • o    China
        • o    Japan
        • o    India
        • o    South Korea
        • o    Taiwan
        • o    Singapore
        • o    Australia
        • o    Rest of APAC
        • Rest of the World (RoW)
          • o    Central & South America
          • o    Middle East
          • o    Africa

FAQ (Frequently Asked Questions):

  1. At what rate is the global social commerce market is expected to grow?
  2. Who are the key players of the market?
  3. Who are the major audiences of social commerce?
  4. What are the major drivers of the market?
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