Chatbot Market Size, Share, Growth Report 2032

Chatbot Market

Chatbot Market- By Type (Support Chatbot, Skills Chatbot, and Assistant Chatbot), By End-User (Healthcare, Retail, Travel & Hospitality, E-Commerce, Media & Entertainment, and BFSI), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2028

Category: Technology & Media Report Format : PDF Pages: 187 Report Code: ZMR-1754 Published Date: Dec-2021 Status : Published

The global Chatbot Market Size was worth approx 17.20 USD Billion in 2020 and is predicted to gain revenue of about 110.30 USD Billion by 2028

The global Chatbot Market accrued earnings worth approximately 17.20(USD Billion) in 2020 and is predicted to gain revenue of about 110.30 (USD Billion) by 2028, is set to record a CAGR of nearly 35.01% over the period from 2021 to 2028. The report offers assessment and analysis of the Chatbot Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

Global Chatbot Market: Overview

Chatbot is an AI-driven app that interacts with humans and can solve their problem or query. They also help in reducing operating timespan and increase efficiency. Furthermore, it is AI tool and is designed for interacting with human beings through text conversation procedures and is blended with many kinds of messaging solutions for aiding end-users in myriad sectors. Many types of innovations carried out in AI and machine learning tools are predicted to improve chatbot features and this will drive demand for chatbots in near future. Rise in use of messaging services is projected to translate into lucid growth for chatbot industry over coming years. Furthermore, chatbots are installed on different channels including standalone, third-party messenger tools, and websites. Apparently, chatbots interact with end-users through smartphone apps or via SMS. Furthermore, users connect with chatbots to raise complaints as well as requests to customer care. Reportedly, Facebook, WeChat, and Skype are some of other tools on which chatbots can be deployed.

Global Chatbot MarketRequest Free Sample

Chatbot Market: Growth Dynamics

Surge in adoption of customer service activities among various firms for reducing operational costs will drive industry trends. Necessity of customer support services at reduced costs and high focus on consumer engagement activities via a spectrum of channels will create new growth avenues for chatbot market in ensuing years. Huge customer demand for self-service events and focus on providing competitive advantage to various businesses will prop up market landscape. Nonetheless, lack of authenticity in user’s voice can prove detrimental for growth of chatbots market in near future.

Furthermore, huge popularity of voice-activated smart equipment owing to its user convenience and automation will enlarge growth of chatbots industry in upcoming years. For the record, in January 2020, Google, Incorporation introduced Meena – an AI chatbot- which is a multi-turn open domain chatbot operating on data mining & AI algorithms. Rise in use of chatbots in BFSI, retail, and healthcare sectors will steer expansion of chatbot market over years ahead.

Regional Landscape

Asia Pacific Chatbot Market To Register Highest Growth Over 2021-2028

Expansion of chatbots market in Asia Pacific over assessment period is subject to rise in funding in chatbots by various new entrants & entrepreneurs. Apart from this, small as well as mid-sized firms in sub-continent are using the product in their customer service processes for enhancing their efficiency & improving customer service response time. Swiftly expanding information & communications systems in countries such as India and China will steer regional market expansion over ensuing years. A prominent rise in population and surge in smartphone users in Asia Pacific will pave a way for growth of chatbot market in region.

To know more about this report, Request a FREE sample copy

Report Scope:

Report Attributes Report Details
Report Name Chatbot Market Research Survey Report
Market Size in 2019 USD 17.20 Billion
Market Forecast by 2026 USD 110.30 Billion
Compound Annual Growth Rate CAGR of 35.01%
Number of Pages 187
Forecast Units Value (USD Billion), and Volume (Units)
Key Companies Covered CX Company, Nuance Communications Inc, Imperson Ltd, Astute Solutions, Creative Virtual Pvt. Ltd, Next IT Corporation, Pandorabots Inc, Microsoft Corporation, IBM Watson, eGain Corporation, Google Inc, and 24/7 Customer Inc
Segments Covered By Type, By End-User, By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)
Countries Covered North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
Base Year 2020
Historical Year 2016 - 2020
Forecast Year 2021 - 2028
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Competitive Landscape

Key players influencing market growth and included in report are CX Company, Nuance Communications Inc, Imperson Ltd, Astute Solutions, Creative Virtual Pvt. Ltd, Next IT Corporation, Pandorabots Inc, Microsoft Corporation, IBM Watson, eGain Corporation, Google Inc, and 24/7 Customer Inc.

The global Chatbot Market is segmented as follows:

By Type

  • Support Chatbot
  • Assistant Chatbot
  • Skills Chatbot

By End-User

  • Healthcare
  • Retail
  • BFSI
  • Travel & Hospitality
  • E-Commerce
  • Media & Entertainment

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

Surge in adoption of customer service activities among various firms for reducing operational costs will drive industry trends. Necessity of customer support services at reduced costs and high focus on consumer engagement activities via a spectrum of channels will create new growth avenues for chatbot market in ensuing years. Huge customer demand for self-service events and focus on providing competitive advantage to various businesses will prop up market landscape. Furthermore, huge popularity of voice-activated smart equipment owing to its user convenience and automation will enlarge growth of chatbots industry in upcoming years. For the record, in January 2020, Google, Incorporation introduced Meena – an AI chatbot- which is a multi-turn open domain chatbot operating on data mining & AI algorithms.    

According to Zion market research report, the global Chatbot Market accrued earnings worth approximately 136.01(USD Billion) in 2020 and is predicted to gain revenue of about 192.12 (USD Billion) by 2028

Asia Pacific will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to rise in funding in chatbots by various new entrants & entrepreneurs. Apart from this, small as well as mid-sized firms in sub-continent are using the product in their customer service processes for enhancing their efficiency & improving customer service response time. Swiftly expanding information & communications systems in countries such as India and China will steer regional market expansion over ensuing years. A prominent rise in population and surge in smartphone users in Asia Pacific will pave a way for growth of chatbot market in region.

The key market participants include CX Company, Nuance Communications Inc., Imperson Ltd., Astute Solutions,  Creative Virtual Pvt. Ltd., Next IT Corporation, Pandorabots, Inc., Microsoft Corporation, IBM Watson, eGain Corporation, Google, Inc., and 24/7 Customer Inc.

Influencing segments growing in the Chatbot Market are By Type (Support Chatbot, Skills Chatbot, And Assistant Chatbot), By End-User (Healthcare, Retail, Travel & Hospitality, E-Commerce, Media & Entertainment, And BFSI), And By Region

The CAGR value of the Chatbot market will around 35.01% by Forecast 2021- 2028

Choose License Type

  • zion payment modes

HappyClients

Office Address

Contact Us

Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008

Contact #

US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com

We Are On Social

Industry Press Release

We Accept

We have secured system to process your transaction.

  • payment methods

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed