According to the publisher, the conversational commerce industry in Europe is expected to grow by 25.4% on annual basis to reach US$236.9 billion in 2023.
The conversational commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 22.5% during 2022-2028. The conversational commerce transaction value in the region will increase from US$236.9 billion in 2023 to reach US$654.3 billion by 2028.
To improve customer relationships, engagement, and experience, retailers in Europe are seeking to leverage conversational commerce tools such as WhatsApp. This, coupled with the high internet and smartphone penetration rate in the region, is projected to aid the growth of the conversational commerce industry in Europe from the short to medium-term perspective.
In Europe, innovative startups are also entering the conversational commerce space to capitalize on the high-growth sector. Furthermore, global giants such as TikTok are also planning to expand their presence in the conversational commerce industry in Europe. All of these factors will keep driving the competitive landscape and innovation in the market over the next three to four years.
This report provides a detailed data centric analysis of conversational commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of conversational commerce market dynamics, market size and forecast, and market share statistics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
Country reports in this bundled offering provide in-depth analysis of Conversational Commerce industry. Below is a summary of key market segments offered at country level:
This report provides in-depth, data-centric analysis of conversational commerce. Below is a summary of key market segments:
The conversational commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 22.5% during 2022-2028. The conversational commerce transaction value in the region will increase from US$236.9 billion in 2023 to reach US$654.3 billion by 2028.
To improve customer relationships, engagement, and experience, retailers in Europe are seeking to leverage conversational commerce tools such as WhatsApp. This, coupled with the high internet and smartphone penetration rate in the region, is projected to aid the growth of the conversational commerce industry in Europe from the short to medium-term perspective.
In Europe, innovative startups are also entering the conversational commerce space to capitalize on the high-growth sector. Furthermore, global giants such as TikTok are also planning to expand their presence in the conversational commerce industry in Europe. All of these factors will keep driving the competitive landscape and innovation in the market over the next three to four years.
Retailers are forging alliances with WhatsApp to optimize the shopping experience of French consumers
To reach more customers and enhance their shopping experience and brand engagement, retailers have turned to WhatsApp to leverage conversational commerce capabilities in France.- In December 2022, Carrefour, one of the leading retailers in Europe, announced that the firm had entered into a strategic collaboration with WhatsApp, enabling consumers to order gifts through the messaging app during Christmas. The pilot project, launched between December 5 to December 21, allowed customers to purchase products across different non-food categories, such as gaming, household appliances, toys, and high-tech. The collaboration with WhatsApp is part of the firm’s strategy to boost customer engagement and provide them with innovative shopping experiences.
Venture capital and private equity funding are expected to grow in the European conversational commerce market
As the market continues to grow, innovative startups are expected to raise multi-million-dollar deals from venture capital and private equity firms over the next three to four years in the European market. In 2022, startups have already gained widespread traction from venture capital and private equity players. For instance,- In July 2022, Charles, the conversational commerce-focused German startup, announced that the firm had raised US$20 million in its Series A round, which was led by Salesforce Ventures. HV Capital and Accel, who led the seed funding round in 2021, also participated in the Series A round. The 2022 funding round makes Charles one of the leading players in the conversational commerce space.
- The firm is planning to use the capital to further expand its presence in the European conversational commerce industry. The firm, which enables brands and businesses to sell products and send newsletters via chat, is targeting a higher and larger enterprise client base in Europe in 2023. While Charles has gained widespread traction in its domestic firm, it also gaining a strong foothold in other European countries such as Italy, Spain, France, and the United Kingdom.
This report provides a detailed data centric analysis of conversational commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of conversational commerce market dynamics, market size and forecast, and market share statistics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
This title is a bundled offering provides detailed 16 reports, covering regional insights along with data centric analysis at regional and country level:
- Europe Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Austria Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Belgium Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Denmark Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Finland Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- France Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Germany Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Greece Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Ireland Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Italy Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Netherlands Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Poland Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Russia Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Spain Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- Switzerland Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
- United Kingdom Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
Scope
This title is a bundled offering, combining 16 reports (1,248 tables and 1,584 charts).
Country reports in this bundled offering provide in-depth analysis of Conversational Commerce industry. Below is a summary of key market segments offered at country level:
This report provides in-depth, data-centric analysis of conversational commerce. Below is a summary of key market segments:
Conversational Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
- Transaction Value
- Transaction Volume
- Average Value Per Transaction
Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
- AI-Based Virtual Assistants
- Non-Intelligent Chatbot
Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
- Chatbots
- Digital Voice Assistants
- OTT Messaging
- RCS Messaging
Conversational Commerce Industry Market Size and Forecast by Chatbots
- Web-Based
- App-Based
Conversational Commerce Industry Market Size and Forecast by Key Sectors
- Retail Shopping
- Travel & Hospitality
- Online Food Service
- Media and Entertainment
- Healthcare and Wellness
- Financial Services
- Technology Products and Services
- Other Sectors
Conversational Commerce Industry Market Size and Forecast in Key Sectors by Product Offering
- Retail Shopping By Chatbots
- Travel & Hospitality By Chatbots
- Online Food Service By Chatbots
- Media and Entertainment By Chatbots
- Healthcare and Wellness By Chatbots
- Financial Services By Chatbots
- Technology Products and Services By Chatbots
- Other Sectors By Chatbots
- Retail Shopping By Digital Voice Assistants
- Travel & Hospitality By Digital Voice Assistants
- Online Food Service By Digital Voice Assistants
- Media and Entertainment By Digital Voice Assistants
- Healthcare and Wellness By Digital Voice Assistants
- Financial Services By Digital Voice Assistants
- Technology Products and Services By Digital Voice Assistants
- Other Sectors By Digital Voice Assistants
- Retail Shopping By OTT Messaging
- Travel & Hospitality By OTT Messaging
- Online Food Service By OTT Messaging
- Media and Entertainment By OTT Messaging
- Healthcare and Wellness By OTT Messaging
- Financial Services By OTT Messaging
- Technology Products and Services By OTT Messaging
- Other Sectors By OTT Messaging
- Retail Shopping By RCS Messaging
- Travel & Hospitality By RCS Messaging
- Online Food Service By RCS Messaging
- Media and Entertainment By RCS Messaging
- Healthcare and Wellness By RCS Messaging
- Financial Services By RCS Messaging
- Technology Products and Services By RCS Messaging
- Other Sectors By RCS Messaging
Conversational Commerce Industry Market Size and Forecast by Organization Size
- Large Enterprise
- Medium-Sized Enterprise
- Small Enterprise
Total Spend on Conversational Commerce Market
Conversational Commerce Industry Market Size and Forecast by Spend on Application
- Software Application
- IT Services
- Consulting Services
Conversational Commerce Spend on Key Sectors
- Retail Shopping
- Travel & Hospitality
- Online Food Service
- Media and Entertainment
- Healthcare and Wellness
- Financial Services
- Technology Products and Services
- Other Sectors
Reasons to buy
- In-depth Understanding of Europe Conversational Commerce Market Dynamics: Understand market opportunities and key trends along with forecast in Europe.
- Insights into Opportunity by end-use sectors: Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
- Insights into Opportunity by products: Get market dynamics by key products of conversational commerce.
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities.
- Develop proactive and lucrative business strategies through market intelligence and forward-looking analysis of conversational market opportunities in Europe.
Table of Contents
This title is a bundled offering provides detailed 16 reports, covering regional insights along with data centric analysis at regional and country level:
1. About this Report
2. Conversational Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
3. Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
4. Conversational Commerce Industry Market Size and Forecast by Product Offering
5. Conversational Commerce Industry Market Size and Forecast by Chatbots
6. Conversational Commerce Industry Market Size and Forecast by Sector
7. Conversational Commerce Industry Market Size and Forecast in Key Sectors by Product Offering
8. Conversational Commerce Industry Market Size and Forecast by Organization Size
10. Conversational Commerce Industry Market Size and Forecast by Spend on Application, 2019-2028
11. Conversational Commerce Spend on Key Sectors, 2019-2028
12. Further Reading
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 1840 |
| Published | August 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 236.9 Billion |
| Forecasted Market Value ( USD | $ 654.3 Billion |
| Compound Annual Growth Rate | 22.5% |
| Regions Covered | Europe |
