Market overview
A chatbot is born on the principles of Artificial Intelligence. An artificially intelligent chat robot also known as a chatbot is mainly designed to interact with humans via auditory conversation or textual methods especially over the internet. In simpler terms, a chatbot is nothing but a computer software design which allows conversation between human and machine using artificial intelligence. The main purpose for designing and programming chatbots is to support animation and text or speech recognition to provide virtual user interaction.
Using natural language processing, chatbots stimulate conversations with users enabling better customer engagement in applications such as e-commerce, retail and healthcare. Chatbots are present on several diverse platforms such as hypertext markup language (HTML) pages, websites, social networking, computers and smartphones. Chatbots are available in different graphical design format which is based on the end user application such as cartoon characters, animals, child or 3D animated creatures and can also interact with humans in various languages.
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The Global Chatbot Market was evaluated at USD 858.1 Million in 2017 and is expected to reach USD 4.02 Billion by 2025, growing at a CAGR of 23.16% during the forecast period.
Owing to the increasing popularity and rapid development advances in artificial intelligence software market, digitalization, technology development, innovation, and availability of messaging-as-OS platform, the global chatbot market has been seeing a steep growth. However, the complexity and cost of software, the lack of skilled resources, privacy and security hinder the market growth. One of the trends being frequently observed is training and designing chatbots to learn and retain from past conversation and interaction between business and individuals thereby providing opportunities to use chatbots in various applications ranging from media publications to personalized assistance.
Market Segmentation
The Global Chatbot Industry is segmented by Type, Application, End-Use adoption and Region.
In terms of Types the market is split into Software and services. For each Type, the report provides an analysis of the Sales and Market Share (%), Revenue (Million USD), Price, Gross Margin and similar information.
In terms of type, the global chatbot market can also be categorized into stand-alone chatbots and web-based chatbots.
Stand-alone chatbots enable control of the functions of user computer such as retrieving documents or playing media files. Web-based chatbots usually run on a remote server and the control of personality, behavior and hosting is with end user.
On the basis of end-use adoption, the market is split into large sized enterprises and small and medium sized enterprises (SMEs).
With respect to Applications the market is categorized into Websites, Contact Centers, Social Media and Mobile Platform.
Geographically, the market spans across key regions of North America, Europe, Asia Pacific, Middle East and Africa, South America etc.
Regional Analysis
The report provides a detailed country-wise analysis of the regions the chatbot market spans across. These include The Middle East and Africa (GCC Countries and Egypt); North America (the United States, Mexico, and Canada); South America (Brazil etc.); Europe (Turkey, Germany, Russia UK, Italy, France, etc.) and Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Industry news
Aspect Software, a leading chatbot manufacturer integrated with Facebook Messenger to support the creation of chatbots in various languages using natural language processing. The main aim was to create chatbots which can be easily deployed on SMS and Twitter messaging platforms.
Table of Content
1 Chatbots Market Overview
2 Global Chatbots Competitions by Players
3 Global Chatbots Competitions by Types
4 Global Chatbots Competitions by Applications
5 Global Chatbots Production Market Analysis by Regions
6 Global Chatbots Sales Market Analysis by Region
7 Imports and Exports Market Analysis
8 Global Chatbots Players Profiles and Sales Data
9 Chatbots Upstream and Downstream Analysis
10 Global Chatbots Market Forecast (2019-2025)
11 Research Findings and Conclusion
……Continued
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