Global Conversational AI Market is expected to rise from its initial estimated value of USD 3.27 billion in 2018 to an estimated value of USD 27.08 billion by 2026, registering a CAGR of 30.25% in the forecast period of 2019-2026. Rising demand for AI- powered customer support services is the major factor for the growth of this market. Few of the major competitors currently working in the global conversational AI market are Google LLC, Microsoft, Amazon Web Services, Inc., IBM Corporation, Oracle, Nuance Communications, Inc., Baidu, SAP SE, Artificial Solutions, Kore.ai, Inc., Avaamo, Conversica, Inc., Haptik, Inc., Rasa Technologies Inc., Solvvy, Pypestream Inc., Inbenta Technologies Inc., Rulai, Creative Virtual Ltd.
Conversational AI is the usage of messaging app, chatbots and other digital platform so that they can provide platform to the customers where they can interact with virtual assistant and can solve their problem. This also helps the organization to improve by finding new techniques to communicate with the customers. Increasing demand for AI- powered customer support services is the factor which is fuelling the conversational AI market.
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Being a proficient and comprehensive, this Conversational AI Market report puts a light on primary and secondary drivers, market share, leading segments, possible sales volume, and geographical analysis. This market research report contains thorough analysis of the market structure along with forecast of the various segments and sub-segments of the market. A numerous markets, marketing strategies, trends, future products and rising opportunities are taken into consideration while studying market and preparing this report. The chief areas covered in the Conversational AI Market report include market definition, market segmentation, competitive analysis and research methodology.
Global conversational AI market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of conversational AI market for global, Europe, North America, Asia-Pacific and South America.
Key questions answered in this research report:
1- At what pace is global Conversational AI Market growing? What will be the growth trend in the future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Conversational AI Market?
4- What are the various application areas and how they are poised to grow?
Segmentation: Conversational AI Market
- By Component (Platform, Services)
- By Type (Intelligent Virtual Assistants, Chatbots)
- By Technology (Machine Learning and Deep Learning, Natural Language Processing, Automated Speech Recognition)
- By Deployment Mode (Cloud, On- Premises), Application (Customer Support, Personal Assistant, Branding and Advertisement, Customer Engagement and Retention, Onboarding and Employee Engagement, Data Privacy and Compliance, Others)
- By Vertical (Banking, Financial Services, and Insurance, Retail and Ecommerce, Healthcare and Life Sciences, Travel and Hospitality, Telecom, Media and Entertainment, Others)
Reasons to Purchase this Report
- Current and future of global anesthesia monitoring market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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