Chatbot Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 120
  • SKU: IRTNTR41045
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The chatbot market value is projected to grow by $ 1.73 bn at a CAGR of 29% during 2021-2025.

This chatbot market analysis report entails exhaustive statistical qualitative and quantitative data on End-user (Retail, BFSI, Government, Travel and hospitality, and Others) and Geography (North America, APAC, Europe, South America, and MEA) and their contribution to the target market. View our sample report to gather market insights on the segmentations. Furthermore, with the latest key findings on the post COVID-19 impact on the market, available in this report, you can create successful business strategies to generate new sales opportunities.

What will the Chatbot Market Size be in 2021?

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Chatbot Market: Key Drivers and Trends

According to our research output, there has been a neutral impact on the market growth post COVID-19 era. Key drivers such as the increased demand for web self-service are notably supporting the chatbot market growth. On the other hand, factors such as lack of awareness and standardization have been identified as market challenges that limit the growth of market vendors. This report offers detailed insights on the challenges to stay prepared for the obstacles in the future, which will help companies analyze and develop growth strategies.

This chatbot market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Chatbot Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

  • Alphabet Inc.
  • Amazon.com Inc.
  • Anboto Europe SL Co.
  • Apple Inc.
  • Creative Virtual Ltd.
  • eGain Corp.
  • Inbenta Technologies Inc.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Nuance Communications Inc.

From our Porter’s five forces analysis study, get detailed insights on the functional involvement of the buyers and suppliers to form well-rounded knowledge about the supply chain and create cost reduction plans. The chatbot market analysis report also contains exhaustive observation on the organic and inorganic growth strategies deployed by the vendors. Click here to uncover details of successful business strategies adopted by the vendors.

Furthermore, to make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Buy the full chatbot market statistics report to understand the magnitude of the economic impact on each segment and recovery expectations.

For insights on complete key vendor profiles, download a free sample of the chatbot market forecast report. The profiles include information on the production, sustainability, and prospects of the leading companies. The report's vendor landscape section also provides industry risk assessment in terms of labor cost, raw material price fluctuation, and other parameters, which is crucial for effective business planning.

Which are the Key Regions for Chatbot Market?

Chatbot Market Share by Geography

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37% of the market’s growth will originate from North America during the forecast period. US, China, UK, Germany, and Japan are the key markets for chatbot market in North America.

North America has been recording significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. Advantages of chatbots over other customer support options has been identified as one of the chief factors that will drive the chatbot market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating End-user Segments in the Chatbot Market?

Chatbot Market Share by End-user

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The chatbot market share growth by the __ segment has been significant. This report provides insights on the impact of the unprecedented outbreak of COVID-19 on market segments. Through these insights, you can safely deduce transformation patterns in consumer behavior, which is crucial to gauge segment-wise revenue growth during 2021-2025 and embrace technologies to improve business efficiency.

This report provides an accurate prediction of the contribution of all the segments to the growth of the chatbot market size. Request for a free sample of the report to get an exclusive glimpse of actionable market insights on post COVID-19 impact on each segment.

Chatbot Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 29%

Market growth 2021-2025

$ 1.73 billion

Market structure

Fragmented

YoY growth (%)

26.25

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

North America at 37%

Key consumer countries

US, China, UK, Germany, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alphabet Inc., Amazon.com Inc., Anboto Europe SL Co., Apple Inc., Creative Virtual Ltd., eGain Corp., Inbenta Technologies Inc., International Business Machines Corp., Microsoft Corp., and Nuance Communications Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Factors Covered in this Chatbot Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive chatbot market growth during the next five years
  • Precise estimation of the chatbot market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the chatbot market across North America, APAC, Europe, South America, and MEA 
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of chatbot market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The chatbot market growth will increase by $1108.70 million during 2019-2024.
The chatbot market is expected to grow at a CAGR of 28.51% during 2019-2024.
Technavio has segmented the chatbot market by end user (Retail, BFSI, Travel and hospitality, Government, and Others) ,service (Infrastructure outsourcing and Application outsourcing) , and geographic (North America, APAC, Europe, and South America).
Alphabet Inc., Amazon.com Inc., Anboto Europe SL Co., Apple Inc., Creative Virtual Ltd., eGain Corp., Inbenta Technologies Inc., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc. are a few of the key vendors in the chatbot market.
North America will register the highest growth rate of 39.19% among the other regions. Therefore, the chatbot market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the chatbot market growth are:
  • Advantages of chatbots over other customer support options
  • Integration of chatbots for better turnaround times
The chatbot market vendors should focus on grabbing business opportunities from the retail segment as it accounted for the largest market share in the base year.
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