Market Research Report

Product code

1037297

Chatbot Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Published: November 10, 2021 |

IMARC Services Private Limited | 147 Pages | Delivery time: 2-3 business days

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The global chatbot market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 25% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.

A chatbot is an artificial intelligence (AI)-based computer program used for simulating human conversations to enable users to interact with digital devices effectively. It is usually developed on a developer framework with cloud backup, analytics and database integrations. Chatbots are majorly incorporated into messaging applications, websites, mobile applications and other digital devices for interacting as digital assistants through text or text-to-speech functionalities. They offer various benefits, such as improved efficiency of business operations, customer engagement, branding and advertisement, data privacy and compliance, payment processing and automatic lead generation and qualification.

Chatbot Market Trends:

Rapid digitization across industries and the increasing requirement for high-quality customer care service across organizations are among the key factors driving the growth of the market. Chatbots are an integral component of running effective customer care programs and are used across various industries, including banking, financial services and insurance (BFSI), information technology (IT), telecommunication, e-commerce and healthcare, for resolving customer queries in minimal time. For instance, BFSI organizations use chatbots to assist users in transferring funds, checking balances, opening accounts and saving money. Moreover, the widespread adoption of over-the-top (OTT) messaging and social networking applications among consumers, especially millennials, is providing a thrust to the market growth. Additionally, various technological advancements, such as the integration of predictive analytics, machine learning (ML), blockchain and cloud computing technologies for the development of self-learning chatbots, are acting as other growth-inducing factors. These innovative chatbots can adapt to changing digital environments and can provide a human-like conversational experience by learning from the user's actions, experiences and decisions. Other factors, including significant improvements in the IT infrastructure, along with extensive research and development (R&D) activities in the field of natural language processing (NLP), are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global chatbot market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, product, application, organization size and vertical.

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
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being [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. Key Questions Answered in This Report:

How has the global chatbot market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global chatbot market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the product?
What is the breakup of the market based on the application?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global chatbot market and who are the key players?
What is the degree of competition in the industry?

Product Code: SR1020G318_Report

1 Preface

2 Scope and Methodology

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

4.1 Overview
4.2 Key Industry Trends

5 Global Chatbot Market

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market Breakup by Type

6.1 Standalone
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
6.2 Web-based
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
6.3 Messenger-based/Third party
- 6.3.1 Market Trends
- 6.3.2 Market Forecast

7 Market Breakup by Product

7.1 Artificial Intelligence
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
7.2 Marketing
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
7.3 Human Intelligence
- 7.3.1 Market Trends
- 7.3.2 Market Forecast

8 Market Breakup by Application

8.1 Bots for Service
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
8.2 Bots for Social Media
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
8.3 Bots for Payments/Order Processing
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
8.4 Bots for Marketing
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast

9 Market Breakup by Organization Size

9.1 Small Enterprises
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
9.2 Medium Enterprises
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
9.3 Large Enterprises
- 9.3.1 Market Trends
- 9.3.2 Market Forecast

10 Market Breakup by Vertical

10.1 Healthcare
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
10.2 Retail
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
10.3 Banking, Financial Services, and Insurance
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
10.4 Media and Entertainment
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
10.5 Travel and Tourism
- 10.5.1 Market Trends
- 10.5.2 Market Forecast
10.6 E-commerce
- 10.6.1 Market Trends
- 10.6.2 Market Forecast
10.7 Others
- 10.7.1 Market Trends
- 10.7.2 Market Forecast

11 Market Breakup by Region

11.1 North America
- 11.1.1 United States
  - 11.1.1.1 Market Trends
  - 11.1.1.2 Market Forecast
- 11.1.2 Canada
  - 11.1.2.1 Market Trends
  - 11.1.2.2 Market Forecast
11.2 Asia-Pacific
- 11.2.1 China
  - 11.2.1.1 Market Trends
  - 11.2.1.2 Market Forecast
- 11.2.2 Japan
  - 11.2.2.1 Market Trends
  - 11.2.2.2 Market Forecast
- 11.2.3 India
  - 11.2.3.1 Market Trends
  - 11.2.3.2 Market Forecast
- 11.2.4 South Korea
  - 11.2.4.1 Market Trends
  - 11.2.4.2 Market Forecast
- 11.2.5 Australia
  - 11.2.5.1 Market Trends
  - 11.2.5.2 Market Forecast
- 11.2.6 Indonesia
  - 11.2.6.1 Market Trends
  - 11.2.6.2 Market Forecast
- 11.2.7 Others
  - 11.2.7.1 Market Trends
  - 11.2.7.2 Market Forecast
11.3 Europe
- 11.3.1 Germany
  - 11.3.1.1 Market Trends
  - 11.3.1.2 Market Forecast
- 11.3.2 France
  - 11.3.2.1 Market Trends
  - 11.3.2.2 Market Forecast
- 11.3.3 United Kingdom
  - 11.3.3.1 Market Trends
  - 11.3.3.2 Market Forecast
- 11.3.4 Italy
  - 11.3.4.1 Market Trends
  - 11.3.4.2 Market Forecast
- 11.3.5 Spain
  - 11.3.5.1 Market Trends
  - 11.3.5.2 Market Forecast
- 11.3.6 Russia
  - 11.3.6.1 Market Trends
  - 11.3.6.2 Market Forecast
- 11.3.7 Others
  - 11.3.7.1 Market Trends
  - 11.3.7.2 Market Forecast
11.4 Latin America
- 11.4.1 Brazil
  - 11.4.1.1 Market Trends
  - 11.4.1.2 Market Forecast
- 11.4.2 Mexico
  - 11.4.2.1 Market Trends
  - 11.4.2.2 Market Forecast
- 11.4.3 Others
  - 11.4.3.1 Market Trends
  - 11.4.3.2 Market Forecast
11.5 Middle East and Africa
- 11.5.1 Market Trends
- 11.5.2 Market Breakup by Country
- 11.5.3 Market Forecast

12 SWOT Analysis

12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats

13 Value Chain Analysis

14 Porters Five Forces Analysis

14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes

15 Price Analysis

16 Competitive Landscape

16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
- 16.3.1 [24]7.ai Inc
  - 16.3.1.1 Company Overview
  - 16.3.1.2 Product Portfolio
- 16.3.2 Acuvate Software Pvt Ltd
  - 16.3.2.1 Company Overview
  - 16.3.2.2 Product Portfolio
- 16.3.3 Aivo
  - 16.3.3.1 Company Overview
  - 16.3.3.2 Product Portfolio
- 16.3.4 Artificial Solutions
  - 16.3.4.1 Company Overview
  - 16.3.4.2 Product Portfolio
  - 16.3.4.3 Financials
- 16.3.5 Creative Virtual Ltd.
  - 16.3.5.1 Company Overview
  - 16.3.5.2 Product Portfolio
- 16.3.6 eGain Corporation
  - 16.3.6.1 Company Overview
  - 16.3.6.2 Product Portfolio
  - 16.3.6.3 Financials
- 16.3.7 International Business Machines Corporation
  - 16.3.7.1 Company Overview
  - 16.3.7.2 Product Portfolio
  - 16.3.7.3 Financials
  - 16.3.7.4 SWOT Analysis
- 16.3.8 Inbenta Technologies Inc.
  - 16.3.8.1 Company Overview
  - 16.3.8.2 Product Portfolio
- 16.3.9 Kore.ai Inc.
  - 16.3.9.1 Company Overview
  - 16.3.9.2 Product Portfolio
- 16.3.10 LiveChat Inc.
  - 16.3.10.1 Company Overview
  - 16.3.10.2 Product Portfolio
  - 16.3.10.3 Financials
- 16.3.11 Nuance Communications Inc.
  - 16.3.11.1 Company Overview
  - 16.3.11.2 Product Portfolio
  - 16.3.11.3 Financials
  - 16.3.11.4 SWOT Analysis
- 16.3.12 Verint Systems Inc.
  - 16.3.12.1 Company Overview
  - 16.3.12.2 Product Portfolio
  - 16.3.12.3 Financials
  - 16.3.12.4 SWOT Analysis