Chatbot Market 2023-2028, Size, Share, Value, Future Demand and Analysis Report

The latest report by IMARC Group, titled "Chatbot Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," offers a comprehensive analysis of the industry, which comprises insights on the global chatbot market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global chatbot market size reached US$ 4.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.2 Billion by 2028, exhibiting a growth rate (CAGR) of 24.8% during 2023-2028.

Chatbot Market Overview:

Chatbots are AI-driven digital entities designed to engage in text or voice-based conversations with users, providing information, answering questions, and assisting with various tasks. They have become an essential part of the digital landscape, serving a wide range of purposes in various industries. It offers instant assistance by addressing common inquiries and resolving issues, improving efficiency, and reducing response times.

They enable businesses to provide 24/7 support, enhancing customer satisfaction. In the realm of online shopping, chatbots assist users in finding products, making recommendations, and completing transactions, offering a personalized and convenient shopping experience. Moreover, chatbots are used in healthcare, helping patients schedule appointments, access medical information, or monitor their health.

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Market Trends:

The global market is majorly driven by the increasing need for businesses to enhance customer experience while reducing operational costs. Chatbots offer a scalable and efficient way to provide instant responses to customer inquiries, improving satisfaction and freeing up human resources for more complex tasks. Moreover, the continual advancement of artificial intelligence (AI) and natural language processing (NLP) technologies has significantly contributed to the chatbot market's expansion.

Furthermore, the proliferation of messaging apps and the increasing comfort of consumers with digital communication have made chatbots a preferred means of engagement. Businesses are integrating chatbots into popular messaging platforms, such as WhatsApp, Facebook Messenger, and Slack to provide seamless and convenient customer interactions.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/chatbot-market

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players:

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

Global Chatbot Market 2023-2028 Analysis and Segmentation:

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)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company's expertise.

This release was published on openPR.