The chatbot is a computer program or software that understands and processes human conversations, enabling humans to interact with digital devices and give them a human-like conversation experience.
The research report, ‘Chatbot Market: Current Analysis And Forecast (2021-2027)’, states that Some of the major players operating in the market are Amazon.com Inc., 7.ai, Google LLC, International Business Machines Corporation, Yellow Messenger, Gupshup, Aivo, Conversica Inc., Nuance Communications Inc., and Kevit.io. The report aims to provide a detailed overview of each company and the moves they are taking to boost their growth. The report has consolidated different criterions through which the above-stated companies exist and compete against each other. Some of these parameters are – the performance of the company, sales, risk analysis, collaborative business strategy, recent development, regional presence, acquisitions, and product and services offered by these companies. Along with this, the report comprises various insights made with the help of research methodologies like PESTEL analysis, SWOT analysis, and others. The report further includes company profiling of each player aforementioned and also reviews how far along the player stands in the competition.
The report mentions that the marine chatbot market is categorized into various segments. These segments are – Based on type (rule-based and AI-based), Based on component (solutions and services), Based on application (customer service, mobile applications, social media, payments/order processing, marketing, and others), Based on industry (e-commerce, healthcare, information and communication technology, banking and financial services, consumer goods and retail, media and entertainment, government, and others), Based on deployment (on-premises and cloud), Based on Organization site (large enterprises and SMEs), Based on components (solutions and services), and Based on the region (North America, Europe, Asia-Pacific, and Rest of World). The study discusses the forecast of each segment and sub-segments in detail. For instance- under the category of application, the customer service segment captured a big share in the market and is expected to sustain a considerable presence in the forecast period. Likewise, the report tells about various other segments. For a better understanding of the market, the report covers the market details for all the countries present in the above-stated regions as well. Some of these countries are – the United States, Canada, Germany, the UK, China, India, and many others.
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In addition to that, the report also provides market trends for the chatbot market both in the present and future. The research report is equipped with various dimensions such as dynamics of the market both globally and region-wise, analysis of historical data, technology development, and study of the market size (in terms of value and volume) based on demand and supply, market growth drivers, sales and application details, market policies, market features, restraints, regional and industry wise investment opportunities and much more. The study has a separate section that discusses about the covid-19 impact on the market and its aftermath.
In the upcoming years, the chatbot market is anticipated to grow and reach a substantial value in terms of revenue in USD million by the end of the year 2027 at a single-digit CAGR during the forecast period (2021-2027). Since more and more companies are going for cost-effective, smart, and automated solutions for customer services, the growth of this market is further going to increase.
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Ankur Gupta, Head Marketing & Communications