North America Chatbot Market, By Component (Software and Services), By Deployment Model (Cloud and On-premise), By Enterprise Size, By End-user (BFSI, E-commerce, Media & Entertainment, Healthcare, and Others), By Country, Competition, Forecast & Opportun

The North American Chatbot Market is projected to grow at a CAGR of over 34% during the forecast period, on account of growing technological development in areas such as artificial intelligence and natural language processing. Chatbot is a software making use of artificial intelligence which can initiate a conversation or chat with a user on websites, mobile applications and messaging platform through the use of natural language processing. Moreover, increasing demand for self-service, improved customer retention and high return on investment offered by chatbot is anticipated to positively influence the North American Chatbot Market during the forecast period.

The Chatbot market can be segmented based on component, deployment model, enterprise size, end-user and country. Based on component, the market can be bifurcated into software and services. The services segment can be further segmented into professional services and managed services. Software segment emerged out to be the leading component in the North American Chatbot Market owing to the growing demand for chatbot coupled with the enhanced features such as artificial intelligence, natural language processing, multilingual software to support command for multiple language, cloud based deployment and multichannel support.

Chatbot is gaining traction and is expanding to various countries in North America including United States, Canada and Mexico. Owing to the early adoption of technologies such as artificial intelligence and natural language processing coupled with the huge number of company present in the county, United States leads the market and is expected to continue its dominance in the North American Chatbot Market during the forecast period as well.

Major players operating in the North American Chatbot Market include International Business Machines Corporation, Nuance Communications, Inc., Google LLC, Microsoft Corporation and Amazon.com Inc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market.

Years considered for this report:

• Historical Years: 2014-2017
• Base Year: 2018
• Estimated Year: 2019
• Forecast Period: 2020-2024

Objective of the Study:

• To analyze and forecast the North American Chatbot Market size.
• To classify and forecast the North American Chatbot Market based on component, deployment model, enterprise size, end-user and country.
• To identify drivers and challenges for the North American Chatbot Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the North American Chatbot Market.
• To identify and analyze the profile of leading players operating in the North American Chatbot Market.

Some of the leading players in the North American Chatbot Market include International Business Machines Corporation, Nuance Communications, Inc., Google LLC, Microsoft Corporation, Amazon.com Inc, among others.

The author performed both primary as well as exhaustive secondary research for this study. Initially, they sourced a list of service providers across the country. Subsequently, conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, they could include the service providers which could not be identified due to the limitations of secondary research. They analyzed the service offerings and presence of all major service providers across the country.

The author calculated the North American Chatbot Market size by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. they sourced these values from the industry experts and company representatives and externally validated through analyzing these data for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Chabot providers
• Research organizations and consulting companies
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to financial application

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:

In this report, the North American Chatbot Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, by Component:

• Software
• Services
• Professional Services
• Managed Services

Market, by Deployment Model:

• Cloud
• On-premise

Market, by Enterprise Size:

• SME
• Large Enterprise

Market, by End-User:

• Media & Entertainment
• Healthcare
• BFSI
• E-Commerce
• Others

Market, by Country:

• United States
• Canada
• Mexico

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the North American Chatbot Market.

Available Customizations:
With the given market data, the author offers customizations according to a client’s specific needs.