Chatbot Market Value Predicted to Hit Big Revenues in Future, To Reach USD 1927.89 Million and with a CAGR of 23.95% of By 2027

Global Chatbot Market is valued at approximately USD 428.9 million in 2020 and is anticipated to grow with a healthy growth rate of more than 23.95% over the forecast period 2021-2027.

A chatbot is an artificial intelligence software that simulates and processes human conversation (either written or spoken) with a user in natural language via messaging applications, websites, or mobile apps. Driven by AI, machine learning, and natural-language processing, chatbots process data to deliver answers to questions of all types. Chatbots are useful in improving operational efficiency, cost-cutting for businesses while offering ease of use, providing added services to employees and customers.

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Major market players included in this report are:
[24]7.ai, Inc
Acuvate
Aivo
Artificial Solutions
Botsify Inc.
Creative Virtual Ltd.
eGain Corporation
IBM Corporation
Inbenta Technologies Inc.
Next IT Corp.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of the competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:
By End user:
Large enterprise
Medium enterprise
Small enterprise

By Application:
Bots for service
Bots for social media
Bot for payments/order processing
Bots for marketing
Others

By Type:
Standalone
Web based
Messenger based/third Party

By Product Landscape:
Artificial intelligence
Marketing
Human intelligence

By Vertical:
Healthcare
Retail
Banking
Media and entertainment
Travel & tourism
E-commerce
Others

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Target Audience of the Global Chatbot Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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