The global chatbot market provides quantitative and qualitative analysis of the competitive landscape, development trends, and key success in the Keyword industry.
Dallas, United States - October 29, 2020 /MarketersMedia/ —
The global chatbots market is anticipated to witness high growth during the prediction period as they allow enterprises to significantly decrease operating costs. In addition, the huge number of innovations in machine learning and artificial intelligence technologies are anticipated to improve the various features of chatbots that acts as one of the major driving factors contribute to the growth of the global chatbots market. The global chatbot market size is anticipated to reach nearly USD 15 billion by 2025, growing at a CAGR of nearly 30% during the forecast period 2018-2025.
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Likewise, a huge increase has been seen in the various users of several messaging services that is anticipated to increase the number of users of the different social media platforms Moreover, there has been a high advancement in the NLP that has resulted in streamlined communications among human languages and computers.
In terms of regional landscape, North American market for chatbots is anticipated to emerge as one of the major region during the prediction period. Likewise, the growth of the region is owing to the growing adoption of chatbots in the number of business sectors. However, technologies such as IoT, artificial intelligence, as well as APIs are evolving as significant pace. Chatbots are hugely integrated with such technologies to provide improved operations, hence driving market demand. Furthermore, AI and audio speech-based chatbots are likely to account for the highest revenue into coming future.
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Key Segments of the Global Chatbot Market
Technology Overview, 2018-2025 (USD Billion)
Machine Learning
Automated Speech Recognition
Natural Language Processing
Natural Language Generation
Others
Platform Overview, 2018-2025 (USD Billion)
Mobile-based
Web-based
Application Overview, 2018-2025 (USD Billion)
IT
Customer Service
Administrative/Business Management
Marketing/Advertising
Others
Regional Overview, 2018-2025 (USD Billion)
North America
U.S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa
South America
Brazil
Rest of South America
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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Source: MarketersMedia
Release ID: 88983119
