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The global Chatbots Market size is expected to attain a market size of $1.0 billion by 2023, rising at a CAGR of 35% during the forecast period (2017 - 2023).
A program which is used to converse with users via a chat interface can be called as a chatbot. It is a service, which is a computer based program and operates over the internet. Chatbots have gained prominence in various applications such as in e-commerce based customer service, internet gaming, and also largely in call centers. Various interfaces such as mobile, stand-alone, and internet are used to create a platform for chatbots. Despite its limited usage only in large enterprises, the chatbot market is potent industry and would be a potential market during the forecast period. The leading factors that are driving the widespread adoption of chatbots market are increasing demand for intelligent customer engagement process, growing market penetration of websites & mobile applications, and unprecedented demand for automated patient management tools within the healthcare sector. Based on the types, the Chatbots market is segmented into Solution and Services.
The Services market is segmented into Professional and Managed Services. Based on the Usages, the market is segmented into Websites, Contact Centers, Social Media, and Mobile Platform. Based on Organization Sizes, the market is segmented into Small & Medium Enterprises and Large Enterprises. Based on Deployment Types, the market is segmented into Cloud and On-Premise. The verticals covered under the report include BSFI, Communication, Utilities, Healthcare, Travel & Hospitality, Government, Retail, Education, and Others. Based on region, Chatbots market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia Pacific) and Latin America, Middle East & Africa. North America remained the dominant region in the global Chatbots market in 2016. Asia Pacific would witness promising CAGR during the forecast period (2017-2023).
The report covers the analysis of key stake holders of the Chatbots market. Key companies profiled in the report include International Business Machines Corporation (IBM), Nuance Communications, Inc., Egain Corporation, Next IT Corporation, Google Inc. (Speaktoit, Inc.), 247 Customer, Inc., CX Company, and Creative Virtual Pvt. Ltd.