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Conversational Systems Market by Type and Geography - Forecast and Analysis 2020-2024

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    Report

  • 152 Pages
  • November 2019
  • Region: Global
  • TechNavio
  • ID: 4860970
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Global Conversational Systems Market: About this market
The conversational systems market analysis considers sales from both text and voice types. Our study also finds the sales of conversational systems in APAC, Europe, MEA, North America, and South America. In 2018, the text segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the growing popularity of social media and messaging apps will play a significant role in the text segment to maintain its market position. Also, our global conversational systems market report looks at factors such as growing advances in NLP, ML, and AI technologies, increasing need for customer engagement, and growing availability and complexity of data. However, lack of awareness about emerging technologies, data privacy concerns, and resistance to using chatbots may hamper the growth of the conversational systems industry over the forecast period.

Global Conversational Systems Market: Overview

Growing advances in NLP, ML, and AI technologies
Organizations are increasingly adopting advanced technologies such as ML and AI to improve operational efficiencies and gain a competitive advantage in the market. This has increased the use of chatbots and business-to-business applications that provide machine intelligence using a natural human language interface. These technologies are getting smarter with time and easier to integrate with the business. These factors are increasing the demand for conversational systems as they have their roots in NLP. This growing advances in NLP, ML, and AI technologies will lead to the expansion of the global conversational systems market at a CAGR of over 29% during the forecast period.

Growing demand for vernacular chatbots
Vernacular chatbots are highly convenient in linguistically diverse countries such as India if companies are looking to expand. After the advent of the digital revolution which resulted in significant increase of internet users in the country, vernacular chatbots have become more necessary. Companies are hence encouraged to multiply their investments in this area. As focus on the adoption of region-specific strategies grows, the demand for vernacular chatbots can be expected to increase significantly during the forecast period.

Competitive Landscape
With the presence of several major players, the global conversational systems market is fragmented. 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 conversational systems manufacturers, that include Alphabet Inc., Amazon.com Inc., Baidu Inc., Conversica Inc., Haptik Inc., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., Oracle Corp., and SAP SE.

Also, the conversational systems market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Table of Contents

PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
  • Preface
  • Currency conversion rates for US$

PART 03: MARKET LANDSCAPE
  • Market ecosystem
  • Market characteristics
  • Value chain analysis
  • Market segmentation analysis

PART 04: MARKET SIZING
  • Market definition
  • Market sizing 2019
  • Market outlook
  • Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY TYPE
  • Market segmentation by type
  • Comparison by type
  • Text - Market size and forecast 2019-2024
  • Voice - Market size and forecast 2019-2024
  • Market opportunity by type

PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
  • Market drivers
  • Market challenges

PART 11: MARKET TRENDS
  • Rise in customer engagement through social media platforms
  • Increasing adoption of smartphones
  • Growing demand for vernacular chatbots
  • PART 12: VENDOR LANDSCAPE
  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS
  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Alphabet Inc.
  • Amazon.com Inc.
  • Baidu Inc.
  • Conversica Inc.
  • Haptik Inc.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Nuance Communications Inc.
  • Oracle Corp.
  • SAP SE

PART 14: APPENDIX
  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

List of Exhibits
Exhibit 01: Vendors: Key product offerings
Exhibit 02: Global application software market
Exhibit 03: Segments of the global application software market
Exhibit 04: Market characteristics
Exhibit 05: Market segments
Exhibit 06: Market definition - Inclusions and exclusions checklist
Exhibit 07: Market size 2019
Exhibit 08: Global market: Size and forecast 2019-2024 ($ millions)
Exhibit 09: Global market: Year-over-year growth 2020-2024 (%)
Exhibit 10: Five forces analysis 2019
Exhibit 11: Five forces analysis 2024
Exhibit 12: Bargaining power of buyers
Exhibit 13: Bargaining power of suppliers
Exhibit 14: Threat of new entrants
Exhibit 15: Threat of substitutes
Exhibit 16: Threat of rivalry
Exhibit 17: Market condition - Five forces 2019
Exhibit 18: Type - Market share 2019-2024 (%)
Exhibit 19: Comparison by type
Exhibit 20: Text - Market size and forecast 2019-2024 ($ millions)
Exhibit 21: Text - Year-over-year growth 2020-2024 (%)
Exhibit 22: Voice - Market size and forecast 2019-2024 ($ millions)
Exhibit 23: Voice - Year-over-year growth 2020-2024 (%)
Exhibit 24: Market opportunity by type
Exhibit 25: Customer landscape
Exhibit 26: Market share by geography 2019-2024 (%)
Exhibit 27: Geographic comparison
Exhibit 28: North America - Market size and forecast 2019-2024 ($ millions)
Exhibit 29: North America - Year-over-year growth 2020-2024 (%)
Exhibit 30: APAC - Market size and forecast 2019-2024 ($ millions)
Exhibit 31: APAC - Year-over-year growth 2020-2024 (%)
Exhibit 32: Europe - Market size and forecast 2019-2024 ($ millions)
Exhibit 33: Europe - Year-over-year growth 2020-2024 (%)
Exhibit 34: South America - Market size and forecast 2019-2024 ($ millions)
Exhibit 35: South America - Year-over-year growth 2020-2024 (%)
Exhibit 36: MEA - Market size and forecast 2019-2024 ($ millions)
Exhibit 37: MEA - Year-over-year growth 2020-2024 (%)
Exhibit 38: Key leading countries
Exhibit 39: Market opportunity
Exhibit 40: Impact of drivers and challenges
Exhibit 41: Vendor landscape
Exhibit 42: Landscape disruption
Exhibit 43: Vendors covered
Exhibit 44: Vendor classification
Exhibit 45: Market positioning of vendors
Exhibit 46: Alphabet Inc. - Vendor overview
Exhibit 47: Alphabet Inc. - Business segments
Exhibit 48: Alphabet Inc. - Organizational developments
Exhibit 49: Alphabet Inc. - Geographic focus
Exhibit 50: Alphabet Inc. - Segment focus
Exhibit 51: Alphabet Inc. - Key offerings
Exhibit 52: Amazon.com Inc. - Vendor overview
Exhibit 53: Amazon.com Inc. - Business segments
Exhibit 54: Amazon.com Inc. - Organizational developments
Exhibit 55: Amazon.com Inc. - Geographic focus
Exhibit 56: Amazon.com Inc. - Segment focus
Exhibit 57: Amazon.com Inc. - Key offerings
Exhibit 58: Baidu Inc. - Vendor overview
Exhibit 59: Baidu Inc. - Business segments
Exhibit 60: Baidu Inc. - Organizational developments
Exhibit 61: Baidu Inc. - Segment focus
Exhibit 62: Baidu Inc. - Key offerings
Exhibit 63: Conversica Inc. - Vendor overview
Exhibit 64: Conversica Inc. - Product segments
Exhibit 65: Conversica Inc. - Organizational developments
Exhibit 66: Conversica Inc. - Key offerings
Exhibit 67: Haptik Inc. - Vendor overview
Exhibit 68: Haptik Inc. - Business segments
Exhibit 69: Haptik Inc. - Organizational developments
Exhibit 70: Haptik Inc. - Key offerings
Exhibit 71: International Business Machines Corp. - Vendor overview
Exhibit 72: International Business Machines Corp. - Business segments
Exhibit 73: International Business Machines Corp. - Organizational developments
Exhibit 74: International Business Machines Corp. - Geographic focus
Exhibit 75: International Business Machines Corp. - Segment focus
Exhibit 76: International Business Machines Corp. - Key offerings
Exhibit 77: Microsoft Corp. - Vendor overview
Exhibit 78: Microsoft Corp. - Business segments
Exhibit 79: Microsoft Corp. - Organizational developments
Exhibit 80: Microsoft Corp. - Geographic focus
Exhibit 81: Microsoft Corp. - Segment focus
Exhibit 82: Microsoft Corp. - Key offerings
Exhibit 83: Nuance Communications Inc. - Vendor overview
Exhibit 84: Nuance Communications Inc. - Business segments
Exhibit 85: Nuance Communications Inc. - Organizational developments
Exhibit 86: Nuance Communications Inc. - Geographic focus
Exhibit 87: Nuance Communications Inc. - Segment focus
Exhibit 88: Nuance Communications Inc. - Key offerings
Exhibit 89: Oracle Corp. - Vendor overview
Exhibit 90: Oracle Corp. - Business segments
Exhibit 91: Oracle Corp. - Organizational developments
Exhibit 92: Oracle Corp. - Geographic focus
Exhibit 93: Oracle Corp. - Segment focus
Exhibit 94: Oracle Corp. - Key offerings
Exhibit 95: SAP SE - Vendor overview
Exhibit 96: SAP SE - Business segments
Exhibit 97: SAP SE - Organizational developments
Exhibit 98: SAP SE - Geographic focus
Exhibit 99: SAP SE - Segment focus
Exhibit 100: SAP SE - Key offerings
Exhibit 101: Validation techniques employed for market sizing
Exhibit 102: Definition of market positioning of vendors

Executive Summary

The following companies as the key players in the global conversational systems market: Alphabet Inc., Amazon.com Inc., Baidu Inc., Conversica Inc., Haptik Inc., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., Oracle Corp., and SAP SE.

Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the growing demand for vernacular chatbots.”

According to the report, one of the major drivers for this market is the growing advances in NLP, ML, and AI technologies.

Further, the report states that one of the major factors hindering the growth of this market is the lack of awareness about emerging technologies.

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 a SWOT analysis of the key vendors.

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Alphabet Inc.
  • Amazon.com Inc.
  • Baidu Inc.
  • Conversica Inc.
  • Haptik Inc.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Nuance Communications Inc.
  • Oracle Corp.
  • SAP SE.