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Global Conversational AI Market (2021-2026) by Type, Distribution Channel, Application and Geography - Competitive Analysis, Impact of COVID-19, Ansoff Analysis

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  • 192 Pages
  • March 2021
  • Infogence Global Research
  • ID: 5359446
The Global Conversational Artificial Intelligence Market is estimated to be worth USD 5.1 Billion in 2020 and is expected to reach USD 12.12 Billion by 2025, growing at a CAGR of 18.9%.

Market Dynamics

Rising digitalization and e-commerce have encouraged the need for customer support services. Conversational artificial intelligence offers effective customer care 24/7, real-time personalized service, and omnichannel Deployment. In addition, low-cost chatbox development and reduced cost to serve customer factors propel market growth globally. Technological advancements such as natural language processing and the rising ‘Chat first’ strategy by the service industry are expected to boost market growth.

However, a lack of awareness of conversation AI and the requirement of skilled professionals to access conversational AI is expected to hamper market development.

Market Segmentation

The Global Conversational Artificial Intelligence Market is segmented based on Type, Distribution Channel, Application, and Geography.

  • By Product, the market is classified as platform and services. Amongst the two, the services segment is estimated to hold the highest market share.
  • By Technology, the market is classified as Machine Learning & Deep Learning, Natural Language Processing, Automated Speech Recognition. Amongst all, the Machine Learning & Deep Learning segment is estimated to hold the highest market share.
  • By Deployment, the market is classified as Intelligent Virtual Assistants and Chatboxes. Amongst the two, the Intelligent Virtual Assistants segment is estimated to hold the highest market share.
  • By Type, the market is classified as On-Cloud and On-Premises. Amongst the two, the commercial use segment is estimated to hold the highest market share.
  • By End-user, the market is classified as banking financial services and insurance, retail and eCommerce, healthcare and life sciences, travel and hospitality, telecom, media and entertainment, and others. Amongst all, the BFSI segment is estimated to hold the highest market share.
  • By Geography, Europe is projected to lead the market.

Recent Developments

  1. Microsoft acquired Nuance, a pioneer company with natural language processing and speech recognition technology. - 12th April 2021
  2. Axis Bank Launches AI-powered Conversational Voice BOT for IVR, in India. -30th July 2020

Company Profiles

Some of the companies covered in this report International Business Machines Corporation, Microsoft Corporation, Intel Corporation, Google LLC, Cisco Systems, Inc., Nuance Communications, Inc., Evolv Technology Solutions, Inc, Infosys Limited, Salesforce.com, Inc., etc

Competitive Quadrant

The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

The report offers a comprehensive evaluation of the Global Conversational Artificial Intelligence Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.

The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel within the industry.

The report includes an in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of COVID-19 on the market is also featured in the report.

The report also includes the regulatory scenario of the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules & regulations imposed on this sector across various geographies.

The report also contains the competitive analysis using Positioning Quadrants, the analyst's proprietary competitive positioning tool.

Report Highlights

  • A complete analysis of the market, including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Proprietary Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size and Segmentation
3.3 Market Outlook
4 Market Influencers
4.1 Drivers
4.1.1 Growing E-Commerce and Digitalization
4.1.2 Rising Demand for Customer Support Services
4.1.3 Omnichannel Development
4.2 Restraints
4.2.1 Lack of Awareness in Emerging Countries
4.2.2 Inaccuracy of Chatbox and Virtual Assistance
4.3 Opportunities
4.3.1 New Innovative Product Portfolio
4.4 Challenges
4.4.1 Requirement of Skilled Professional
4.4.2 Data Security Issues
4.5 Trends
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter’s Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 Global Conversational Artificial Intelligence Market, By Type
6.1 Introduction
6.2 Platform
6.3 Service
6.3.1 Consulting Services
6.3.2 Managed Services
6.3.3 Professional Services
6.3.4 Support & Maintenance
6.3.5 Training & Education
7 Global Conversational Artificial Intelligence Market, By Technology
7.1 Introduction
7.2 Machine Learning & Deep Learning
7.3 Natural Language Processing
7.4 Automated Speech Recognition
8 Global Conversational Artificial Intelligence Market, By Deployment
8.1 Introduction
8.2 Intelligent Virtual Assistants
8.3 Chat box
9 Global Conversational Artificial Intelligence Market, By Type
9.1 Introduction
9.2 On-Cloud
9.3 On-Premises
10 Global Conversational Artificial Intelligence Market, By End User
10.1 Introduction
10.2 Banking, Financial Services, and Insurance (BFSI)
10.3 Retail and Ecommerce
10.4 Healthcare and Life Sciences
10.5 Travel and Hospitality
10.6 Telecom
10.7 Media and Entertainment
10.8 Others
11 Global Conversational Artificial Intelligence Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 South America
11.3.1 Brazil
11.3.2 Argentina
11.3.3 Chile
11.3.4 Colombia
11.4 Europe
11.4.1 UK
11.4.2 France
11.4.3 Germany
11.4.4 Italy
11.4.5 Spain
11.4.6 Netherlands
11.4.7 Sweden
11.4.8 Russia
11.4.9 Rest of Europe
11.5 Asia-Pacific
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4 Indonesia
11.5.5 Malaysia
11.5.6 South Korea
11.5.7 Australia
11.5.8 Sri Lanka
11.5.9 Thailand
11.5.10 Rest of APAC
11.6 Middle-East and Africa
11.6.1 Qatar
11.6.2 Saudi Arabia
11.6.3 South Africa
11.6.4 United Arab Emirates
12 Competitive Landscape
12.1 Competitive Quadrant
12.2 Market Share Analysis
12.3 Strategic Initiatives
12.3.1 M&A and Investments
12.3.2 Partnerships and Collaborations
12.3.3 Product Developments and Improvements
13 Company Profiles
13.1 Salesforce.com, Inc.
13.2 Amazon.com, Inc.
13.3 Artificial Solutions
13.4 Baidu, Inc.
13.5 BotXO AI
13.6 Cisco Systems, Inc.
13.7 Conversica
13.8 Creative Virtual
13.9 Deloitte Touche Tohmatsu Limited
13.10 Evolv Technology Solutions, Inc
13.11 Google LLC
13.12 Haptik
13.13 Infosys Limited
13.14 Intel Corporation
13.15 International Business Machines Corporation
13.16 Microsoft Corporation
13.17 Apple Inc.
13.18 NVIDIA Corporation
13.19 Oracle Corporation
13.20 SAP ERP
14 Appendix
14.1 Questionnaire

Companies Mentioned

  • Salesforce.co. Inc.
  • Amazon.co. Inc.
  • Artificial Solutions
  • Baid. Inc.
  • BotXO AI
  • Cisco System. Inc.
  • Conversica
  • Creative Virtual
  • Deloitte Touche Tohmatsu Limited
  • Evolv Technology Solution. Inc
  • Google LLC
  • Haptik
  • Infosys Limited
  • Intel Corporation
  • International Business Machines Corporation
  • Microsoft Corporation
  • Apple Inc.
  • NVIDIA Corporation
  • Oracle Corporation