Conversational AI Market by Type, Deployment Mode, Component, Technology, Vertical, Application - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation

Description

List of Tables

The Global Conversational AI Market is forecasted to grow significantly, with a projected USD 8,272.43 million in 2023 at a CAGR of 42.38% and expected to reach a staggering USD 100,755.28 million by 2030.

The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Conversational AI Market. The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

Market Segmentation & Coverage:

This research report categorizes the Global Conversational AI Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Type, market is studied across Chatbots and Intelligent Virtual Assistants. The Chatbots commanded largest market share of 61.24% in 2022, followed by Intelligent Virtual Assistants.

Based on Deployment Mode, market is studied across Cloud and On-premises. The Cloud commanded largest market share of 82.36% in 2022, followed by On-premises.

Based on Component, market is studied across Platform and Services. The Services is further studied across Support & Maintenance, System Integration & Deployment, and Training & Consulting. The Platform commanded largest market share of 59.32% in 2022, followed by Services.

Based on Technology, market is studied across Automated Speech Recognition, Machine Learning & Deep Learning, and Natural Language Processing. The Machine Learning & Deep Learning commanded largest market share of 32.15% in 2022, followed by Natural Language Processing.

Based on Vertical, market is studied across Banking, Financial Services, & Insurance, Healthcare & Life Sciences, Media & Entertainment, Retail & Ecommerce, Telecom, and Travel & Hospitality. The Retail & Ecommerce commanded largest market share of 44.01% in 2022, followed by Telecom.

Based on Application, market is studied across Branding & Advertisement, Customer Engagement & Retention, Customer Support, Data Privacy & Compliance, Onboarding & Employee Engagement, and Personal Assistant. The Personal Assistant commanded largest market share of 32.70% in 2022, followed by Customer Support.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 35.17% in 2022, followed by Europe, Middle East & Africa.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Conversational AI Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation

5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Conversational AI Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Conversational AI Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Conversational AI Market?

4. What is the competitive strategic window for opportunities in the Global Conversational AI Market?

5. What are the technology trends and regulatory frameworks in the Global Conversational AI Market?

6. What is the market share of the leading vendors in the Global Conversational AI Market?

7. What modes and strategic moves are considered suitable for entering the Global Conversational AI Market?

Product Code: MRR-380AB250ABE9

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Conversational AI Market, by Type, 2022 vs 2030
4.3. Conversational AI Market, by Deployment Mode, 2022 vs 2030
4.4. Conversational AI Market, by Component, 2022 vs 2030
4.5. Conversational AI Market, by Technology, 2022 vs 2030
4.6. Conversational AI Market, by Vertical, 2022 vs 2030
4.7. Conversational AI Market, by Application, 2022 vs 2030
4.8. Conversational AI Market, by Region, 2022 vs 2030

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Shift Towards Self-Services Models and Business Choices for Low Operational Costs
  - 5.1.1.2. Increasing Chatbot Implementation by Businesses
  - 5.1.1.3. Inclination from Mobile Apps to Conversational AI
- 5.1.2. Restraints
  - 5.1.2.1. Limitations to Handle Complex Queries or Hold Conversations with Humans
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging 5G Technology and Hyper-Automation
  - 5.1.3.2. Expanding Implementation Across Wide Range of Industries
- 5.1.4. Challenges
  - 5.1.4.1. Ensuring Safety and Conversation with Very Minimal Data
  - 5.1.4.2. Offering Conversation Choices in Native Languages
5.2. Market Trends
5.3. Cumulative Impact of COVID-19
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework
5.9. Client Customization

6. Conversational AI Market, by Type

6.1. Introduction
6.2. Chatbots
6.3. Intelligent Virtual Assistants

7. Conversational AI Market, by Deployment Mode

7.1. Introduction
7.2. Cloud
7.3. On-premises

8. Conversational AI Market, by Component

8.1. Introduction
8.2. Platform
8.3. Services
- 8.3.1. Support & Maintenance
- 8.3.2. System Integration & Deployment
- 8.3.3. Training & Consulting

9. Conversational AI Market, by Technology

9.1. Introduction
9.2. Automated Speech Recognition
9.3. Machine Learning & Deep Learning
9.4. Natural Language Processing

10. Conversational AI Market, by Vertical

10.1. Introduction
10.2. Banking, Financial Services, & Insurance
10.3. Healthcare & Life Sciences
10.4. Media & Entertainment
10.5. Retail & Ecommerce
10.6. Telecom
10.7. Travel & Hospitality

11. Conversational AI Market, by Application

11.1. Introduction
11.2. Branding & Advertisement
11.3. Customer Engagement & Retention
11.4. Customer Support
11.5. Data Privacy & Compliance
11.6. Onboarding & Employee Engagement
11.7. Personal Assistant

12. Americas Conversational AI Market

12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States

13. Asia-Pacific Conversational AI Market

13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam

14. Europe, Middle East & Africa Conversational AI Market

14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom

15. Competitive Landscape

15.1. FPNV Positioning Matrix
15.2. Market Share Analysis, By Key Player
15.3. Competitive Scenario Analysis, By Key Player

16. List of Company Mentioned

17. Appendix

17.1. Discussion Guide
17.2. License & Pricing