Global Chatbot Market 2024-2028
The chatbot market is forecasted to grow by USD 5371.3 mn during 2023-2028, accelerating at a CAGR of 35.27% during the forecast period. The report on the chatbot market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by several benefits associated with using chatbots solutions, increased demand for web self-service, and growing focus on improving crm.
Technavio's chatbot market is segmented as below:
ByEnd-user
- Retail
- BFSI
- Government
- Travel and hospitality
- Others
ByProduct
ByGeography
- North America
- APAC
- Europe
- South America
- Middle East and Africa
This study identifies the integration of chatbots with communication channels as one of the prime reasons driving the chatbot market growth during the next few years. Also, increasing adoption of chatbots in smartphones and growing popularity of live chats will lead to sizable demand in the market.
The report on the chatbot market covers the following areas:
- Chatbot market sizing
- Chatbot market forecast
- Chatbot market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading chatbot market vendors that include 247.ai Inc., Acuvate, Aivo, Alphabet Inc., Amazon.com Inc., Artificial Solutions International AB, Avaamo Inc., Botsify, Conversica Inc., Creative Virtual Ltd., eGain Corp., Inbenta Holdings Inc., International Business Machines Corp., Kore.ai Inc., Meta Platforms Inc., Microsoft Corp., OpenAI L.L.C., Oracle Corp., ServiceNow Inc., and Zoom Video Communications Inc.. Also, the chatbot market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.