Adroit Market Research - Industry Insights
Chatbot Market by Technology (Machine Learning, Automated Speech Recognition, Natural Language Processing, Natural Language Generation, and Others), Platform (Mobile-based and Web-based), Application (IT, Customer Service, Administrative/Business Management, Marketing/Advertising, and Others), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America), Global Forecast, 2018 to 2025
Apr 2020
Total Pages: 102
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A chatbot is a combination of various algorithms that is based on machine learning and artificial intelligence-powered technology. The key function of a chatbot is to interact with humans to answer certain queries and provide answers. The growing adoption of chatbots across various industries is mainly accredited to its ability to reduce time & costs and enhancing the operational efficiencies. Hence, such factors driving the adoption of the chatbot market globally.
The global chatbot market size is anticipated to reach nearly USD 15 billion by 2025. This can be attributed to the reduced operational costs associated with the chatbots. Also, the 24x7 availability and assistance to customers is another factor boosting the global chatbot market growth.
.png "Global Chatbot Market 2018-2025 (USD Billion)")
The global chatbot market size is anticipated to reach nearly USD 15 billion by 2025. This can be attributed to the reduced operational costs associated with the chatbots. Also, the 24x7 availability and assistance to customers is another factor boosting the global chatbot market growth.
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
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global chatbot market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global chatbot market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the chatbot industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on technology, platform, and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global chatbot market. The report will benefit: Every stakeholder involved in the chatbot market.
- Managers within the chatbot industry looking to publish recent and forecasted statistics about the global chatbot market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global chatbot market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The growing adoption of the internet of things (IoT) and drastically changing digitization environment are majorly impacting the chatbot market. Also, increasing the adoption of smartphones and tablets in developing countries such as Japan, India, China, and others is also the key factor fuelling the adoption of social media apps which is sequentially resulting in the growing demand for chatbots. Moreover, increased investments by numerous market players to develop advanced chatbots that can understand customers' intentions and provide a humanlike response are also driving the growth of the chatbot market. Moreover, despite being in developmental phases, chatbot technology is experiencing huge adoption across various industries.
Technology Segment
Based on the technology segment, the market is divided into natural language processing, automated speech recognition, machine learning, natural language generation, and others. In the year 2019, the machine learning segment accounted for the highest market revenue and it is anticipated to hold the major market share throughout the forecast period. On the contrary, the natural language processing segment accumulated the highest growth and it is expected to keep its position during the forecast period.
Platform Segment
In terms of the platform, the market is segmented into mobile-based and web-based. The web-based segment leads the market growth in the year 2019 and it is projected to keep dominating the market during the forecast period. However, the mobile-based segment accounted for the highest growth and it is anticipated to hold its position during the forecast period.
Application Segment
In terms of application, the market is segmented into administrative/business management, IT, marketing/advertising, customer service, and others. The IT segment captured the major market share in 2019 and it is expected to do so throughout the forecast period. On the contrary, customer service is projected to gather the highest growth and it is anticipated to hold its position during the forecast period.
Based on the geographical front, the market has been analyzed across North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The North American region dominated the overall market in 2019 and it is expected to maintain its position over the entire forecast period 2018-2025. The dominance of this region is mainly attributed to the rapid technological adoption and advancements. However, the Asia-Pacific region is projected to experience the highest growth throughout the forecast period.
.png "North America Chatbot Market, 2018-2025 (USD Billion)")
The major players of the global chatbot market are Amazon Web Platform, Google, IBM, Nuance Communication, Inbenta Technologies, Chatfuel, AIVO, Kore.ai , Artificial Solutions, and SmartBots. Moreover, the other prospective players in the chatbot market are Passage AI, Anboto, KeyReply, Contus, and Conversica. The recognized companies are coming up with innovative and new chatbot applications. As of 2019, the chatbot market is consolidated with the presence of established local as well as global players across the globe. In addition, the already recognized market players are coming up with new innovative services and solutions to stay competitive in the global market.
A chatbot is a combination of various algorithms that is based on machine learning and artificial intelligence-powered technology. The key function of a chatbot is to interact with humans to answer certain queries and provide answers. The growing adoption of chatbots across various industries is mainly accredited to its ability to reduce time & costs and enhancing the operational efficiencies. Hence, such factors driving the adoption of the chatbot market globally.
The global chatbot market size is anticipated to reach nearly USD 15 billion by 2025. This can be attributed to the reduced operational costs associated with the chatbots. Also, the 24x7 availability and assistance to customers is another factor boosting the global chatbot market growth.
The global chatbot market size is anticipated to reach nearly USD 15 billion by 2025. This can be attributed to the reduced operational costs associated with the chatbots. Also, the 24x7 availability and assistance to customers is another factor boosting the global chatbot market growth.
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
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global chatbot market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global chatbot market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the chatbot industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on technology, platform, and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global chatbot market. The report will benefit: Every stakeholder involved in the chatbot market.
- Managers within the chatbot industry looking to publish recent and forecasted statistics about the global chatbot market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global chatbot market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Chapter 1 Introduction
1.1 Introduction to the Study
1.2 Market Definition and Scope
1.3 Units, Currency, Conversions and Years Considered
1.4 Key Stakeholders
1.5 Key Questions Answered
Chapter 2 Research Methodology
2.1 Introduction
2.2 Data Capture Sources
2.2.1 Primary Sources
2.2.2 Secondary Sources
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Data Triangulation
2.6 Assumptions and Limitations
Chapter 3 Executive Summary
Chapter 4 Market Outlook
4.1 Introduction
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.1.1 Reduced operational cost
4.3.1.2 24x7 assistance to customers
4.3.2 Restraints
4.3.2.1 High initial deployment cost
4.3.2.2 Opportunities
4.3.3.1 Growing adoption in numerous industries
4.3.3.2 Technological advancements and initiatives towards the development of self-learning chatbots
4.4 Porter’s Five Forces Analysis
4.5 PEST Analysis
Chapter 5 Chatbot Market by Technology
5.1 Introduction
5.1.1 Machine Learning
5.1.2 Automated Speech Recognition
5.1.3 Natural Language Processing
5.1.4 Natural Language Generation
5.1.5 Others
Chapter 6 Chatbot Market by Platform
6.1 Introduction
6.1.1 Mobile-based
6.1.2 Web-based
Chapter 7 Chatbot Market by Application
7.1 Introduction
7.1.1 IT
7.1.2 Customer Service
7.1.3 Administrative/Business Management
7.1.4 Marketing/Advertising
7.1.5 Others
Chapter 8 Chatbot Market By Region
8.1 Introduction
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 Germany
8.3.2 France
8.3.3 UK
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Middle East & Africa
8.5.1 UAE
8.5.2 South Africa
8.5.3 Rest of Middle East & Africa
8.6 South America
8.6.1 Brazil
8.6.2 Rest of South America
Chapter 9 Competitive Landscape
9.1 Overview
9.2 Strategic Initiatives
9.2.1 Mergers & Acquisitions
9.2.2 New Product Launch
9.2.3 Investments
9.2.4 Expansion
9.2.5 Customer Targeting
Chapter 10 Company Profiles
10.1 Amazon Web Platform
10.1.1 Overview
10.1.2 Products and Automated Speech Recognition Portfolio
10.1.3 Recent Initiatives
10.1.4 Company Financials
10.1.5 SWOT
10.2 Google
10.2.1 Overview
10.2.2 Products and Automated Speech Recognition Portfolio
10.2.3 Recent Initiatives
10.2.4 Company Financials
10.2.5 SWOT
10.3 IBM
10.3.1 Overview
10.3.2 Products and Automated Speech Recognition Portfolio
10.3.3 Recent Initiatives
10.3.4 Company Financials
10.3.5 SWOT
10.4 Nuance Communication
10.4.1 Overview
10.4.2 Products and Automated Speech Recognition Portfolio
10.4.3 Recent Initiatives
10.4.4 Company Financials
10.4.5 SWOT
10.5 Inbenta Technologies
10.5.1 Overview
10.5.2 Products and Automated Speech Recognition Portfolio
10.5.3 Recent Initiatives
10.5.4 Company Financials
10.5.5 SWOT
10.6 Chatfuel
10.6.1 Overview
10.6.2 Products and Automated Speech Recognition Portfolio
10.6.3 Recent Initiatives
10.6.4 Company Financials
10.6.5 SWOT
10.7 AIVO
10.7.1 Overview
10.7.2 Products and Automated Speech Recognition Portfolio
10.7.3 Recent Initiatives
10.7.4 Company Financials
10.7.5 SWOT
10.8 Kore.ai
10.8.1 Overview
10.8.2 Products and Automated Speech Recognition Portfolio
10.8.3 Recent Initiatives
10.8.4 Company Financials
10.8.5 SWOT
10.9 Artificial Solutions
10.9.1 Overview
10.9.2 Products and Automated Speech Recognition Portfolio
10.9.3 Recent Initiatives
10.9.4 Company Financials
10.9.5 SWOT
10.10 SmartBots
10.10.1 Overview
10.10.2 Products and Automated Speech Recognition Portfolio
10.10.3 Recent Initiatives
10.10.4 Company Financials
10.10.5 SWOT
10.11 Other Companies