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Chatbot Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

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    Report

  • 147 Pages
  • July 2022
  • Region: Global
  • IMARC Group
  • ID: 5633297
UP TO OFF until Dec 31st 2022
The global chatbot market reached a value of US$ 3.7 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 13.9 Billion by 2027, exhibiting a CAGR of 24.68% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

A chatbot is an artificial intelligence (AI)-based computer program used for simulating human conversations to enable users to interact with digital devices effectively. It is usually developed on a developer framework with cloud backup, analytics and database integrations. Chatbots are majorly incorporated into messaging applications, websites, mobile applications and other digital devices for interacting as digital assistants through text or text-to-speech functionalities. They offer various benefits, such as improved efficiency of business operations, customer engagement, branding and advertisement, data privacy and compliance, payment processing and automatic lead generation and qualification.

Chatbot Market Trends:

Rapid digitization across industries and the increasing requirement for high-quality customer care service across organizations are among the key factors driving the growth of the market. Chatbots are an integral component of running effective customer care programs and are used across various industries, including banking, financial services and insurance (BFSI), information technology (IT), telecommunication, e-commerce and healthcare, for resolving customer queries in minimal time. For instance, BFSI organizations use chatbots to assist users in transferring funds, checking balances, opening accounts and saving money. Moreover, the widespread adoption of over-the-top (OTT) messaging and social networking applications among consumers, especially millennials, is providing a thrust to the market growth. Additionally, various technological advancements, such as the integration of predictive analytics, machine learning (ML), blockchain and cloud computing technologies for the development of self-learning chatbots, are acting as other growth-inducing factors. These innovative chatbots can adapt to changing digital environments and can provide a human-like conversational experience by learning from the user’s actions, experiences and decisions. Other factors, including significant improvements in the IT infrastructure, along with extensive research and development (R&D) activities in the field of natural language processing (NLP), are anticipated to drive the market toward growth.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global chatbot market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, product, application, organization size and vertical.

Breakup by Type:

  • Standalone
  • Web-based
  • Messenger-based/Third party

Breakup by Product:

  • Artificial Intelligence
  • Marketing
  • Human Intelligence

Breakup by Application:

  • Bots for Service
  • Bots for Social Media
  • Bots for Payments/Order Processing
  • Bots for Marketing
  • Others

Breakup by Organization Size:

  • Small Enterprises
  • Medium Enterprises
  • Large Enterprises

Breakup by Vertical:

  • Healthcare
  • Retail
  • Banking, Financial Services, and Insurance
  • Media and Entertainment
  • Travel and Tourism
  • E-commerce
  • Others

Breakup by Region:

North America

  • United States
  • Canada

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others

Europe

  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others

Latin America

  • Brazil
  • Mexico
  • Others

Middle East and Africa


Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being [24]7.ai, Inc., Acuvate Software Pvt. Ltd., Aivo, Artificial Solutions International AB, Creative Virtual Ltd., eGain Corporation, International Business Machines Corporation, Inbenta Holdings Inc., Kore.ai Inc., LiveChat Inc., Nuance Communications Inc., and Verint Systems Inc.

Key Questions Answered in This Report:

  • How has the global chatbot market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global chatbot market?
  • What are the key regional markets?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the product?
  • What is the breakup of the market based on the application?
  • What is the breakup of the market based on the organization size?
  • What is the breakup of the market based on the vertical?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global chatbot market and who are the key players?
  • What is the degree of competition in the industry?
Frequently Asked Questions about the Global Chatbot Market

What is the estimated value of the Global Chatbot Market?

The Global Chatbot Market was estimated to be valued at $3.7 Billion in 2021.

What is the growth rate of the Global Chatbot Market?

The growth rate of the Global Chatbot Market is 24.6%, with an estimated value of $13.9 Billion by 2027.

What is the forecasted size of the Global Chatbot Market?

The Global Chatbot Market is estimated to be worth $13.9 Billion by 2027.

Who are the key companies in the Global Chatbot Market?

Key companies in the Global Chatbot Market include [24]7.ai Inc., Acuvate Software Pvt. Ltd., Aivo, Artificial Solutions International AB, Creative Virtual Ltd., eGain Corporation, International Business Machines Corporation, Inbenta Holdings Inc. and LiveChat Inc..

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Chatbot Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Standalone
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Web-based
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Messenger-based/Third party
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Product
7.1 Artificial Intelligence
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Marketing
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Human Intelligence
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Application
8.1 Bots for Service
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Bots for Social Media
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Bots for Payments/Order Processing
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Bots for Marketing
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Organization Size
9.1 Small Enterprises
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Medium Enterprises
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Large Enterprises
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Vertical
10.1 Healthcare
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Retail
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Banking, Financial Services, and Insurance
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Media and Entertainment
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Travel and Tourism
10.5.1 Market Trends
10.5.2 Market Forecast
10.6 E-commerce
10.6.1 Market Trends
10.6.2 Market Forecast
10.7 Others
10.7.1 Market Trends
10.7.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.2 Asia-Pacific
11.2.1 China
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Japan
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 India
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 South Korea
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Australia
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.2.6 Indonesia
11.2.6.1 Market Trends
11.2.6.2 Market Forecast
11.2.7 Others
11.2.7.1 Market Trends
11.2.7.2 Market Forecast
11.3 Europe
11.3.1 Germany
11.3.1.1 Market Trends
11.3.1.2 Market Forecast
11.3.2 France
11.3.2.1 Market Trends
11.3.2.2 Market Forecast
11.3.3 United Kingdom
11.3.3.1 Market Trends
11.3.3.2 Market Forecast
11.3.4 Italy
11.3.4.1 Market Trends
11.3.4.2 Market Forecast
11.3.5 Spain
11.3.5.1 Market Trends
11.3.5.2 Market Forecast
11.3.6 Russia
11.3.6.1 Market Trends
11.3.6.2 Market Forecast
11.3.7 Others
11.3.7.1 Market Trends
11.3.7.2 Market Forecast
11.4 Latin America
11.4.1 Brazil
11.4.1.1 Market Trends
11.4.1.2 Market Forecast
11.4.2 Mexico
11.4.2.1 Market Trends
11.4.2.2 Market Forecast
11.4.3 Others
11.4.3.1 Market Trends
11.4.3.2 Market Forecast
11.5 Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Breakup by Country
11.5.3 Market Forecast
12 SWOT Analysis
12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats
13 Value Chain Analysis
14 Porters Five Forces Analysis
14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 [24]7.ai Inc.
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.2 Acuvate Software Pvt. Ltd.
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.3 Aivo
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.4 Artificial Solutions International AB
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.4.3 Financials
16.3.5 Creative Virtual Ltd.
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.6 eGain Corporation
16.3.6.1 Company Overview
16.3.6.2 Product Portfolio
16.3.6.3 Financials
16.3.7 International Business Machines Corporation
16.3.7.1 Company Overview
16.3.7.2 Product Portfolio
16.3.7.3 Financials
16.3.7.4 SWOT Analysis
16.3.8 Inbenta Holdings Inc.
16.3.8.1 Company Overview
16.3.8.2 Product Portfolio
16.3.9 Kore.ai Inc.
16.3.9.1 Company Overview
16.3.9.2 Product Portfolio
16.3.10 LiveChat Inc.
16.3.10.1 Company Overview
16.3.10.2 Product Portfolio
16.3.10.3 Financials
16.3.11 Nuance Communications Inc.
16.3.11.1 Company Overview
16.3.11.2 Product Portfolio
16.3.11.3 Financials
16.3.11.4 SWOT Analysis
16.3.12 Verint Systems Inc.
16.3.12.1 Company Overview
16.3.12.2 Product Portfolio
16.3.12.3 Financials
16.3.12.4 SWOT Analysis
List of Figures
Figure 1: Global: Chatbot Market: Major Drivers and Challenges
Figure 2: Global: Chatbot Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Chatbot Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Chatbot Market: Breakup by Type (in %), 2021
Figure 5: Global: Chatbot Market: Breakup by Product (in %), 2021
Figure 6: Global: Chatbot Market: Breakup by Application (in %), 2021
Figure 7: Global: Chatbot Market: Breakup by Organization Size (in %), 2021
Figure 8: Global: Chatbot Market: Breakup by Vertical (in %), 2021
Figure 9: Global: Chatbot Market: Breakup by Region (in %), 2021
Figure 10: Global: Chatbot (Standalone) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Chatbot (Standalone) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Chatbot (Web-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Chatbot (Web-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Chatbot (Messenger-based/Third party) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Chatbot (Messenger-based/Third party) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Chatbot (Artificial Intelligence) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Chatbot (Artificial Intelligence) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Chatbot (Marketing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Chatbot (Marketing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Chatbot (Human Intelligence) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Chatbot (Human Intelligence) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Chatbot (Bots for Service) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Chatbot (Bots for Service) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Chatbot (Bots for Social Media) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Chatbot (Bots for Social Media) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Chatbot (Bots for Payments/Order Processing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Chatbot (Bots for Payments/Order Processing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Chatbot (Bots for Marketing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Chatbot (Bots for Marketing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Chatbot (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Chatbot (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Chatbot (Small Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Chatbot (Small Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Chatbot (Medium Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Chatbot (Medium Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Chatbot (Large Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Chatbot (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Chatbot (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Chatbot (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Global: Chatbot (Retail) Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Chatbot (Retail) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Global: Chatbot (Banking, Financial Services, and Insurance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Global: Chatbot (Banking, Financial Services, and Insurance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Global: Chatbot (Media and Entertainment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Global: Chatbot (Media and Entertainment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Global: Chatbot (Travel and Tourism) Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Global: Chatbot (Travel and Tourism) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Global: Chatbot (E-commerce) Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Global: Chatbot (E-commerce) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Global: Chatbot (Other Verticals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Global: Chatbot (Other Verticals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: North America: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: North America: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: United States: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: United States: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Canada: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Canada: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Asia-Pacific: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Asia-Pacific: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: China: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: China: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Japan: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Japan: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: India: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: India: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: South Korea: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: South Korea: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Australia: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Australia: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Indonesia: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Indonesia: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Others: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Others: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Europe: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Europe: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Germany: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Germany: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: France: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: France: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: United Kingdom: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: United Kingdom: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Italy: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Italy: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Spain: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: Spain: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Russia: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 87: Russia: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 88: Others: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 89: Others: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 90: Latin America: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 91: Latin America: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 92: Brazil: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 93: Brazil: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 94: Mexico: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 95: Mexico: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 96: Others: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 97: Others: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 98: Middle East and Africa: Chatbot Market: Sales Value (in Million US$), 2016 & 2021
Figure 99: Middle East and Africa: Chatbot Market: Breakup by Country (in %), 2021
Figure 100: Middle East and Africa: Chatbot Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 101: Global: Chatbot Industry: SWOT Analysis
Figure 102: Global: Chatbot Industry: Value Chain Analysis
Figure 103: Global: Chatbot Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Chatbot Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Chatbot Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Chatbot Market Forecast: Breakup by Product (in Million US$), 2022-2027
Table 4: Global: Chatbot Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Chatbot Market Forecast: Breakup by Organization Size (in Million US$), 2022-2027
Table 6: Global: Chatbot Market Forecast: Breakup by Vertical (in Million US$), 2022-2027
Table 7: Global: Chatbot Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Chatbot Market: Competitive Structure
Table 9: Global: Chatbot Market: Key Players

Companies Mentioned

  • [24]7.ai Inc.
  • Acuvate Software Pvt. Ltd.
  • Aivo
  • Artificial Solutions International AB
  • Creative Virtual Ltd.
  • eGain Corporation
  • International Business Machines Corporation
  • Inbenta Holdings Inc.
  • Kore.ai Inc.
  • LiveChat Inc.
  • Nuance Communications Inc.
  • Verint Systems Inc.

Methodology

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