Chatbot Market Growth Statistics, Business Plans and Regional Forecast 2032

As per the report published by The Brainy Insights, the global chatbot market is expected to grow from USD 3.60 billion in 2022 to USD 24.80 billion by 2032, at a CAGR of 21.28% during the forecast period 2023-2032. North American region emerged as the largest global chatbot market, with a 41.29% market revenue share in 2022. The rising adoption of mobile instruments and increased investments in the research and development of chatbot technology are propelling the market's growth in this region. Furthermore, the rising adoption of mobile devices & messaging platforms and the growing demand for personalized customer support solutions are anticipated to drive market growth in this region. In addition, the Asia Pacific region is anticipated to show the fastest CAGR growth over the projection period due to increased disposable income.

Request sample copy of this report at:https://www.thebrainyinsights.com/enquiry/sample-request/13575

Chatbot Market Size by Component (Services and Solution), Type (Web-based, Standalone, AI-powered, Messenger-based, and Rule-Based), Deployment (On-premise and Cloud), Application (Retail, Healthcare, Media and Entertainment, Real Estate, Education, E-commerce, Banking Financial Services and Insurance (BFSI), and Others), End-User (Large Enterprises and Small and Medium Enterprises), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Leading companies in the industry Artificial Solutions, Aivo LLC, Google, Inbenta Holdings Inc., Creative Virtual Ltd., eGain Corporation, IBM, smartbots, Nuance Communications, Inc., Contus, Conversica, Inc., Amazon Web Services, Inc., Kevit, CogniCor Technologies, and Cyfuture India Pvt. Ltd., which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The component segment is divided into services and solution. The solution segment led the market with a market share of 56.11% in 2022. This growth is attributed to the significant improvements in the IT infrastructure. The type segment is divided into web-based, standalone, AI-powered, messenger-based, and rule-based. The standalone segment led the market with a market share of 29.18% in 2022. This growth is attributed to the increasing demand for unlimited storage and big data. The deployment segment is divided into on-premise and cloud. The cloud segment led the market with a market share of 54.21% in 2022. This growth is attributed to various enterprises' rising use of cloud services. The application segment is divided into retail, healthcare, media and entertainment, real estate, education, e-commerce, banking, financial services and insurance (BFSI), and others. The e-commerce segment led the market with a market share of 24.18% in 2022. This growth is attributed to the increasing inclination towards online shopping platforms. The end-user segment is divided into large enterprises and small and medium enterprises. The large enterprises segment led the market with a market share of 57.13% in 2022. This growth is attributed to the rapid digitization across industries.

Read complete report at: https://www.thebrainyinsights.com/report/chatbot-market-13575

The rising acceptance of consumer service activities among businesses for the reduction in operating costs, along with the increasing demand from SMEs, are helping to drive the growth of the chatbot market. Further, the growing domination of messenger applications and rising demand for customer analytics are helping to stimulate the chatbot market growth during the forecast period.

About the Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: www.thebrainyinsights.com

This release was published on openPR.