The global chatbot market is anticipated to grow at a CAGR of around 25.4% during the forecast period (2021-2027). The chatbots are AI software designed to provide online information to customers or learners interactively via textual conversation process. The adoption of chatbots in various verticals owing to the numerous benefits provided by them which include real-time connectivity, 24/7 customer engagement, less marketing cost, among others. Retail & e-commerce is one of the largest end-users of chatbots, due to the increased number of retail & e-commerce businesses the use of chatbots has surged among retailers and other business owners. The factors that are contributing to the growth of the global online chatbot market include the increasing prevalence of smartphones coupled with chatbot features, growing online business, advancement in technologies, and the need for 24/7 customer support services. AI and Machine Learning (ML), Natural Language Processing technologies are expected to enhance the features of chatbots, which, in turn, would drive their demand. In addition, chatbots enable organizations to deliver timely services at reduced costs. This is the key factor behind the adoption of these software in large enterprises to achieve sophisticated operations.
To Request a Sample of our Report on Chatbot Market: https://www.omrglobal.com/request-sample/chatbot-market
Moreover, lack of awareness about the benefits offered by AI-based chatbots in developing countries, and the high cost of chatbots are the challenge expected to limit their adoption. Further, increasing initiatives in the R&D of self-learning chatbots with advanced features and less cost is expected to offer lucrative opportunities in the market during the forecast period.
(Get 15% Discount on Buying this Report)
A full Report of Chatbot Market is Available at: https://www.omrglobal.com/industry-reports/chatbot-market
Global Chatbot Market Segmentation
By Deployment Model
- On-Premises
- Cloud-based
By Component
- Solution
- Services
By Verticals
- Healthcare
- Travel and Hospitality
- Media and Entertainment
- Telecommunication
- Banking & Financial Service and Insurance (BFSI)
- Retail and E-commerce
- Others
By Application
- Customer Care
- Branding & Advertisement
- Data Privacy and Compliance
- Employee Engagement and On-boarding
- Payment Processing
- Others
Company Profiles
- [24]7.ai, Inc
- Acuvate Software Pvt Ltd.
- Aivo
- Amazon Web Services Inc.
- Artificial Solution International AB
- Botsify Inc.
- CogniCor Technologies Inc.
- Contus
- Conversica, Inc
- Creative Virtual Ltd.
- eGain Corp. (US)
- Google LLC.
- IBM Corp.
- Inbenta Technologies Inc.
- Kevit Technologies
- LiveChat, Inc
- Microsoft Corp
- MindMeld Inc.
- Nuance Communication, Inc.
- Oracle Corp.
- Personetics Technologies
- Pypestream Inc.
- SmartBots
- Verint Systems Inc.
- Yellow Messenger
Reasons to Buying From us –
- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
- Our expert research analysts answer all your questions before and after purchasing your report.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/chatbot-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 7803040404
