AI Based Chatbot Market Witness to Grow Remarkable CAGR of 26.5% by 2026 | Know the Which Companies Could Potentially Benefit or Loose out From the Impact of COVID-19

The Global AI Based Chatbot Market was valued at USD 450.5 million in 2018 and is expected to reach USD 2,970.4 million in 2026, growing at a CAGR of 26.5% by 2027.
The ripple effect of Coronavirus-COVID19 on the AI Based Chatbot Market needs to become part of strategy discussions to emerge strong. The Analyst team is meticulously tracking the impact and relevance to all the sectors in the AI Based Chatbot Market. Key data sets include Revenue Impact analysis, Disruptions and New opportunities in the Supply Chain, Revised Vendor Landscape Mix, New opportunities mapping, and more.

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AI based chatbots are defined as a computer program which is used for simulating human conversation over voice commands or text chats or both. Chatbot also is known as chatterbot features artificial intelligence (AI) which can be embedded into the program for further usage via messaging service.

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Market Segmentation:
Following Top Key players are profiled in this Market Study:
Amazon Web Services, Inc. (Amazon Lex) (U.S.), Dialogflow (Google) (U.S.), Bold360 AI (U.S.), Chatfuel (U.S.), Botsify (Germany), IBM Corporation (U.S.), eGain Corporation (U.K.), Nuance Communications (U.S.), Creative Virtual Ltd. (U.S.) and Artificial Solutions Inc. (U.S.) among others

By Applications: Banking & Finance Industry, Media & Entertainment, Healthcare, E-commerce, Retail, Travel and Tourism, Others

Based on application, the customer service segment expected to dominate the market during the forecast period.
Based on application, the market has been segmented into customer service, social media, payment/order processing, and marketing. In 2018, the customer service segment is expected to hold nearly 55% market share in the market, which expected to continue its dominance over the coming years. Moreover, rapid growth in the e-commerce segment which is coupled with intensifying business competition creating the need for adoption of modern technology to offer improved customer services is some of the major drivers for the industry globe.

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Regional Analysis:
North America
Europe
Asia Pacific
LATAM
Middle East Africa

North America to dominate the AI based chatbots market throughout the forecast period

North America region is by far the largest contributor to the growth of global AI based chatbots market which contributed more than 45% market share globally. However, the Asia Pacific region is anticipated to showcase the highest growth rate during the forecast period owing to intensifying investments from global industry players

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