Chatbot Global Market Report 2024

Description

“Chatbot Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on chatbot market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for chatbot? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The chatbot market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Text; Voice; Hybrid
2) By Component: Solution; Services
3) By Platform: Standalone; Web-Based; Messenger-Based or Third Party
4) By Deployment: On-Premise; Cloud
5) By End-User: BFSI; Healthcare; IT and Telecommunication; Retail; Travel and Hospitality; Other End-Users
Companies Mentioned: International Business Machines Corporation (IBM); Microsoft Corporation; Google LLC; Amazon Web Services Inc.; Nuance Communications Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

A chatbot is a computer program that simulates and interprets written or spoken human dialogue, allowing users to interact with digital gadgets in the same way they would interact with actual people. It can range from simple one-line programs that respond to a simple question to sophisticated digital assistants that learn and adapt as they collect and process data to create increasingly personalized experiences.

The main types of chatbots are text, voice, and hybrid. Text bots are defined as software tools that can perform conversational and automated tasks. They help companies engage with their customers through sending automated texts and replies based on specific triggers and keywords in the customer's response. The different components include solutions and services, and involve various platforms such as standalone, web-based, messenger-based/third party, which are deployed on-premise or cloud. It is employed in BFSI, healthcare, IT and telecommunication, retail, travel and hospitality, and other end-users.

The chatbot market research report is one of a series of new reports from The Business Research Company that provides chatbot market statistics, including chatbot industry global market size, regional shares, competitors with a chatbot market share, detailed chatbot market segments, market trends and opportunities, and any further data you may need to thrive in the chatbot industry. This chatbot market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The chatbot market size has grown exponentially in recent years. It will grow from $6. 7 billion in 2023 to $8. 43 billion in 2024 at a compound annual growth rate (CAGR) of 25. 9%. The growth in the historic period can be attributed to cost efficiency in customer service, advancements in natural language processing, e-commerce and product recommendations, enhanced customer engagement, travel assistance and booking. .

The chatbot market size is expected to see exponential growth in the next few years. It will grow to $22. 42 billion in 2028 at a compound annual growth rate (CAGR) of 27. 7%. The growth in the forecast period can be attributed to personalization and user context, industry-specific chatbots, integration with business applications, chatbots in hr and recruitment, enhanced security measures. . Major trends in the forecast period include increased adoption of ai and machine learning, omni-channel chatbot deployment, voice-based chatbots and conversational interfaces, enhanced personalization and user context awareness, ethical ai and responsible chatbot practices, integration with virtual assistants and smart devices. .

The rising adoption of smartphone users is expected to propel the growth of the chatbot market going forward. A smartphone is an electric device that provides a connection to a cellular network. Chatbots can simulate a conversation with the user in natural language through websites, messaging applications, or mobile apps. On mobile phones, chatbots can provide virtual assistance for various needs of the user. For instance, according to the National Health Authority of India, a government agency in India, there were 1. 18 billion mobile connections, 600 million smartphones, and 700 million Internet users in India in 2021, with a quarter-on-quarter increase of 25 million. Therefore, the rising adoption of smartphone users is driving the chatbot market growth.

Rising e-commerce is expected to propel the growth of the chatbot market going forward. E-commerce refers to the buying and selling of goods and services over the internet. E-commerce businesses use chatbots to provide 24/7 customer support for customers by responding to common queries and issues about product information, order status, and shipping. For instance, in August 2023, according to the United States Census Bureau, a US-based government agency, compared to the second quarter of 2022, the estimate for e-commerce in the second quarter of 2023 climbed by 7. 5% (or 1. 4%), while overall retail sales rose by 0. 6% (or 0. 4%). 15. 4% of all sales in the second quarter of 2023 were made through online stores. Therefore, rising e-commerce is driving the growth of the chatbot market.

Technological advancements have emerged as a key trend gaining popularity in the chatbot market. Major companies operating in the catboat market are focused on developing new technological solutions to strengthen their position in the market. For instance, in November 2021, ZeroShotBot, a US-based chatbot company, launched a new disruptive conversational AI technology that democratizes chatbots for both large and small organizations. It is the new technique of creating chatbots that can be scaled in hours and does not require any training data, allowing anyone with no coding knowledge or training to construct a fully functional chatbot.

Major companies operating in the chatbot market are adopting a strategic partnership to expand offerings. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in February 2023, DRUID, a Romania-based conversational AI platform, partnered with ROBOYO, a US-based hyperautomation professional services company. Through this partnership, the two businesses will be able to provide automation transformation projects that add value for a variety of sectors. ROBOYO's comprehensive automation technology portfolio and consulting capabilities, as well as DRUID's conversational AI technology layer, will be fully used.

In April 2022, Laiye, a China-based intelligent automation software provider, acquired Mindsay for an undisclosed amount. This acquisition gives Laiye powerful, low-code, and no-code technology to automate customer service and back-office processes. Mindsay is a France-based customer service automation startup operating in the chatbox market.

Major companies operating in the in the chatbot market report are International Business Machines Corporation (IBM), Microsoft Corporation, Google LLC, Amazon Web Services Inc., Nuance Communications Inc., Creative Virtual Ltd., Artificial Solutions International AB, Inbenta Holdings Inc., Next IT Corporation, Aivo Inc., Conversica Inc., LiveChat Software S. A., Gupshup Technology (India) Pvt. Ltd., Contus Tech. (Contus), SmartBots LLC, Yellow Messenger Pte. Ltd., Kevit Technologies Pvt. Ltd., eGain Corporation, Helpshift Technologies Pvt. Ltd., Oracle Corporation, ServiceNow Inc., Personetics Technologies Ltd., MindMeld Inc., CogniCor Technologies S. L., PositiveNaick Analytics Pvt. Ltd., Pypestream Inc., Acuvate Software Pvt. Ltd., Botsify Inc., Astute Solutions LLC, Haptik Inc.

North America was the largest region in the chatbot market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chatbot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the chatbot market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The chatbot market includes revenues earned by entities by providing menu/button-based chatbots, linguistic based (rule-based chatbots), keyword recognition-based chatbots, machine learning chatbots, the hybrid model, voice bots, appointment scheduling or booking chatbots, and customer support chatbots. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10226

1. Executive Summary

2. Chatbot Market Characteristics

3. Chatbot Market Trends And Strategies

4. Chatbot Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Chatbot Market Size and Growth

5.1. Global Chatbot Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Chatbot Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Chatbot Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Chatbot Market Segmentation

6.1. Global Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Text
Voice
Hybrid
6.2. Global Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solution
Services
6.3. Global Chatbot Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Standalone
Web-Based
Messenger-Based or Third Party
6. 4. Global Chatbot Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Premise
Cloud
6. 5. Global Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
BFSI
Healthcare
IT and Telecommunication
Retail
Travel and Hospitality
Other End-Users

7. Chatbot Market Regional And Country Analysis

7.1. Global Chatbot Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Chatbot Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Chatbot Market

8.1. Asia-Pacific Chatbot Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Chatbot Market

9.1. China Chatbot Market Overview
9.2. China Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Chatbot Market

10.1. India Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Chatbot Market

11.1. Japan Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Chatbot Market

12.1. Australia Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Chatbot Market

13.1. Indonesia Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Chatbot Market

14.1. South Korea Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Chatbot Market

15.1. Western Europe Chatbot Market Overview
15.2. Western Europe Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Chatbot Market

16.1. UK Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Chatbot Market

17.1. Germany Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Chatbot Market

18. 5. France Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Chatbot Market

19. 9. Italy Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Chatbot Market

20.13. Spain Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Chatbot Market

21.1. Eastern Europe Chatbot Market Overview
21.2. Eastern Europe Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Chatbot Market

22.1. Russia Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Chatbot Market

23.1. North America Chatbot Market Overview
23.2. North America Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Chatbot Market

24.1. USA Chatbot Market Overview
24.2. USA Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Chatbot Market

25.1. Canada Chatbot Market Overview
25.2. Canada Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Chatbot Market

26.1. South America Chatbot Market Overview
26.2. South America Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Chatbot Market

27.1. Brazil Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Chatbot Market

28.1. Middle East Chatbot Market Overview
28.2. Middle East Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Chatbot Market

29.1. Africa Chatbot Market Overview
29.2. Africa Chatbot Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Chatbot Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Chatbot Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Chatbot Market Competitive Landscape And Company Profiles

30.1. Chatbot Market Competitive Landscape
30.2. Chatbot Market Company Profiles
- 30.2.1. International Business Machines Corporation (IBM)
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. Microsoft Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Google LLC
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. Amazon Web Services Inc.
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. Nuance Communications Inc.
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Chatbot Market Competitive Benchmarking

32. Global Chatbot Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Chatbot Market

34. Chatbot Market Future Outlook and Potential Analysis

34.1 Chatbot Market In 2028 - Countries Offering Most New Opportunities
34.2 Chatbot Market In 2028 - Segments Offering Most New Opportunities
34. 3 Chatbot Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer