Chatbots Market Expected to Reach 3,172.0 Million USD by 2021
The chatbots market is estimated to grow from USD 703.3 Million in 2016 to USD 3,172.0 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 35.2% during 2016–2021.
(EMAILWIRE.COM, May 29, 2018 ) According to a new market research report "Chatbots Market by Type (Software, and Services), Usage (Websites, Contact Centers, Social Media, and Mobile Platform), Deployment Type (On-Premises, and On-Cloud), Industry Verticals (Healthcare, Retail, Education), End User–Global Forecast to 2021", published by MarketsandMarkets™, the chatbots market size is expected to grow from USD 703.3 Million in 2016 to USD 3,172.0 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 35.2% during 2016–2021.
Browse 64 market data tables and 51 figures spread through 154 pages and in-depth TOC on "Chatbots Market by Type (Software, and Services), Usage (Websites, Contact Centers, Social Media, and Mobile Platform), Deployment Type (On-Premises, and On-Cloud), Industry Verticals (Healthcare, Retail, Education), End User - Global Forecast to 2021"
https://www.marketsandmarkets.com/Market-Reports/smart-advisor-market-72302363.html
The major drivers for upsurge in demand for chatbot software and services include increasing penetration of websites and mobile applications, proliferating demand of intelligent customer engagement, strong need to understand consumer behavior, and adoption of cloud-based technology
Chatbots software is likely to hold the largest market share in the chatbots market
Enhanced technological features in chatbots software such as Natural Language Processor (NLP), multilingual, interference engine, metrics, cloud-based deployment, Application Programing Interface (API), mobile platform compatibility, analytics, multichannel, and single point of search is expected to spur the market growth. In addition to that, the software is widely used on the users’ smartphone, websites, social media, and call centers to answer all the queries, which would fuel the software segment growth in the coming years
Mobile platform segment is expected to grow at the highest CAGR during the forecast period
The market for mobile platform would witness a major growth because of the rise in the adoption of chatbots, which is propelled by the increasing penetration of smart phones as well as tablets across the globe. In addition to that, the smart mobile advisors provide help to the organization in real time monitoring of customer behavior, trends, and interaction. It also tracks mobile services, such as geo-location, enabling rich, targeted communications based on location and event.
ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=72302363
North America is expected to hold the largest market share in the chatbots market
As per the geographic analysis, North America is likely to benefit from its technological advancements and followed by high usage of mobile, tablets, and computers. The adoption of chatbots across North America is estimated to rise at a significant rate due to client-centric approaches, provision of 24/7 customer engagement, operational efficiencies, cost containment, and sustainability benefits and the changing business dynamics. This eventually increases the penetration of chatbots deployment in this region.
The major vendors covered in the chatbots market for this study include Artificial Solutions (Stockholm, Sweden), IBM Watson (U.S.), Naunce Communications Inc. (U.S.), eGain Coporation (U.S.), Creative Virtual Pvt. Ltd. (U.K.), Next IT Corp. (U.S.) CX Company (Netherlands), Speaktoit Inc. (U.S.), 24/7 Customer Inc. (U.S.), and Codebaby (Idavatars), Inc. (U.S.).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Browse 64 market data tables and 51 figures spread through 154 pages and in-depth TOC on "Chatbots Market by Type (Software, and Services), Usage (Websites, Contact Centers, Social Media, and Mobile Platform), Deployment Type (On-Premises, and On-Cloud), Industry Verticals (Healthcare, Retail, Education), End User - Global Forecast to 2021"
https://www.marketsandmarkets.com/Market-Reports/smart-advisor-market-72302363.html
The major drivers for upsurge in demand for chatbot software and services include increasing penetration of websites and mobile applications, proliferating demand of intelligent customer engagement, strong need to understand consumer behavior, and adoption of cloud-based technology
Chatbots software is likely to hold the largest market share in the chatbots market
Enhanced technological features in chatbots software such as Natural Language Processor (NLP), multilingual, interference engine, metrics, cloud-based deployment, Application Programing Interface (API), mobile platform compatibility, analytics, multichannel, and single point of search is expected to spur the market growth. In addition to that, the software is widely used on the users’ smartphone, websites, social media, and call centers to answer all the queries, which would fuel the software segment growth in the coming years
Mobile platform segment is expected to grow at the highest CAGR during the forecast period
The market for mobile platform would witness a major growth because of the rise in the adoption of chatbots, which is propelled by the increasing penetration of smart phones as well as tablets across the globe. In addition to that, the smart mobile advisors provide help to the organization in real time monitoring of customer behavior, trends, and interaction. It also tracks mobile services, such as geo-location, enabling rich, targeted communications based on location and event.
ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=72302363
North America is expected to hold the largest market share in the chatbots market
As per the geographic analysis, North America is likely to benefit from its technological advancements and followed by high usage of mobile, tablets, and computers. The adoption of chatbots across North America is estimated to rise at a significant rate due to client-centric approaches, provision of 24/7 customer engagement, operational efficiencies, cost containment, and sustainability benefits and the changing business dynamics. This eventually increases the penetration of chatbots deployment in this region.
The major vendors covered in the chatbots market for this study include Artificial Solutions (Stockholm, Sweden), IBM Watson (U.S.), Naunce Communications Inc. (U.S.), eGain Coporation (U.S.), Creative Virtual Pvt. Ltd. (U.K.), Next IT Corp. (U.S.) CX Company (Netherlands), Speaktoit Inc. (U.S.), 24/7 Customer Inc. (U.S.), and Codebaby (Idavatars), Inc. (U.S.).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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Mr. Salgarkar
Tel: 1-888-600-6441
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MarketsandMarkets™
Mr. Salgarkar
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results