Conversational Artificial Intelligence (AI) Market Overview, Revenue, Industry Growth and Demand Analysis Research Report by 2028
The report is collated with the help of advanced tools and the recent primary and secondary research methodologies. Our expert analysts gather information and data available in the annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases. In order to ensure the authenticity of the information and data studied in this report, our researchers undertake paid primary interviews with industry experts alongside other relevant entities associated with the global Conversational Artificial Intelligence (AI) market.
The global conversational Artificial Intelligence (AI) market size reached USD 4.91 Billion in 2020 and is expected to register a CAGR of 22.6%, during the forecast period, according to latest analysis by Emergen Research. Rising demand for Artificial Intelligence-driven customer support services is expected to drive global conversational AI market revenue growth over the forecast period. Increasing implementation of conversational AI chatbots in the automotive industry is expected to augment global conversational AI market growth going ahead. One of the most prominent trends in the market is increasing application of chatbots to retain employees. AI-powered chatbots assist businesses in delivering useful details about an employee’s level of engagement that can result in a lower churn rate, which is expected to boost the market growth going ahead.
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Key Companies Profiled in the Report:
Google LLC, Microsoft Corporation, Oracle Corporation, International Business Machines Corporation, Baidu Inc., Nuance Communications Inc., SAP SE, Conversica Inc., Inbenta Technologies Inc., and Avaamo Inc.
The report offers insightful information about the market dynamics of the Conversational Artificial Intelligence (AI) market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Conversational Artificial Intelligence (AI) market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Conversational Artificial Intelligence (AI) market.
Emergen Research has segmented the global conversational AI market on the basis of deployment, component, type, technology, end-use, and region:
- Deployment Outlook (Revenue, USD Billion; 2018–2028)
- On-Premises
- Cloud
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Service
- Platform
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Intelligent Virtual Assistants
- Chatbots
- Technology Outlook (Revenue, USD Billion; 2018–2028)
- Natural Language Processing
- Automated Speech Recognition
- Machine Learning
- Deep Learning
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- Healthcare
- Media & Entertainment
- Automotive
- E-Commerce
- Retail
- BFSI
- Telecom
- Others
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Radical Highlights of the Conversational Artificial Intelligence (AI) Market Report:
- Comprehensive overview of the Conversational Artificial Intelligence (AI) market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and R&D advancements on the Conversational Artificial Intelligence (AI) market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
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