Table of Content

1 INTRODUCTION 34
1.1 STUDY OBJECTIVES 34
1.2 MARKET DEFINITION 34
1.2.1 INCLUSIONS AND EXCLUSIONS 35
1.3 MARKET SCOPE 36
1.3.1 MARKET SEGMENTATION 36
1.3.2 REGIONS COVERED 37
1.3.3 YEARS CONSIDERED 37
1.4 CURRENCY CONSIDERED 38
1.5 STAKEHOLDERS 38
1.6 SUMMARY OF CHANGES 38
1.6.1 IMPACT OF RECESSION 39
2 RESEARCH METHODOLOGY 40
2.1 RESEARCH DATA 40
FIGURE 1 CHATBOT MARKET: RESEARCH DESIGN 40
2.1.1 SECONDARY DATA 41
2.1.2 PRIMARY DATA 41
TABLE 1 PRIMARY INTERVIEWS 41
2.1.2.1 Breakup of primary profiles 42
2.1.2.2 Key industry insights 42
2.2 MARKET BREAKUP AND DATA TRIANGULATION 43
FIGURE 2 DATA TRIANGULATION 43
2.3 MARKET SIZE ESTIMATION 44
FIGURE 3 CHATBOT MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES 44
2.3.1 TOP-DOWN APPROACH 44
2.3.2 BOTTOM-UP APPROACH 45
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 1 (SUPPLY SIDE): REVENUE FROM SOLUTIONS/SERVICES OF CHATBOT MARKET 45
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 2, BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS/SERVICES OF CHATBOT MARKET 46
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 3, BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS/SERVICES OF CHATBOT MARKET 47
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 4, BOTTOM-UP (DEMAND SIDE): SHARE OF CHATBOT THROUGH OVERALL CHATBOT SPENDING 47
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2.4 MARKET FORECAST 48
TABLE 2 FACTOR ANALYSIS 48
2.5 RESEARCH ASSUMPTIONS 49
2.6 LIMITATIONS 51
2.7 IMPLICATIONS OF RECESSION ON CHATBOT MARKET 51
TABLE 3 IMPACT OF RECESSION ON GLOBAL CHATBOT MARKET 52
3 EXECUTIVE SUMMARY 53
TABLE 4 GLOBAL CHATBOT MARKET SIZE AND GROWTH RATE, 2017–2022 (USD MILLION, Y-O-Y %) 55
TABLE 5 GLOBAL CHATBOT MARKET SIZE AND GROWTH RATE, 2023–2028 (USD MILLION, Y-O-Y %) 55
FIGURE 8 SOLUTIONS SEGMENT TO DOMINATE MARKET IN 2023 55
FIGURE 9 STANDALONE SOLUTION TO HOLD LARGEST MARKET SHARE IN 2023 56
FIGURE 10 PROFESSIONAL SERVICES SEGMENT TO DOMINATE MARKET IN 2023 56
FIGURE 11 SYSTEM INTEGRATION AND IMPLEMENTATION SEGMENT TO LEAD MARKET IN 2023 56
FIGURE 12 MOBILE APPS SEGMENT TO HOLD LARGEST MARKET SHARE IN 2023 57
FIGURE 13 SOCIAL MESSENGER SEGMENT TO LEAD MARKET IN 2023 57
FIGURE 14 TEXT SEGMENT TO HOLD LARGEST MARKET SIZE IN 2023 57
FIGURE 15 MENU-BASED SEGMENT TO HOLD LARGEST MARKET SHARE IN 2023 58
FIGURE 16 CONTACT CENTERS SEGMENT TO BE LARGEST SEGMENT IN 2023 58
FIGURE 17 CUSTOMER ENGAGEMENT AND RETENTION SEGMENT TO HOLD LARGEST MARKET SHARE IN 2023 59
FIGURE 18 CUSTOMER SUPPORT TO BE LARGEST FINANCE AND ACCOUNTING APPLICATION SEGMENT IN 2023 59
FIGURE 19 RECRUITMENT SEGMENT AMONG HR APPLICATIONS TO DOMINATE MARKET IN 2023 59
FIGURE 20 WORKFLOW OPTIMIZATION SEGMENT TO HOLD LARGEST MARKET SIZE IN 2023 60
FIGURE 21 INCIDENT MANAGEMENT SEGMENT AMONG ITSM APPLICATIONS TO DOMINATE MARKET IN 2023 60
FIGURE 22 AGENT PERFORMANCE MANAGEMENT SEGMENT TO HOLD LARGEST MARKET SIZE IN 2023 60
FIGURE 23 HEALTHCARE AND LIFE SCIENCES VERTICAL TO GROW AT HIGHEST CAGR IN 2023 61
FIGURE 24 NORTH AMERICA TO HOLD LARGEST MARKET SHARE AND ASIA PACIFIC TO GROW AT HIGHEST CAGR IN 2023 61
4 PREMIUM INSIGHTS 62
4.1 ATTRACTIVE OPPORTUNITIES IN CHATBOT MARKET 62
FIGURE 25 RISING USAGE OF GENERATIVE MODELS IN CHATBOTS FOR IMMERSIVE CUSTOMER EXPERIENCE TO DRIVE MARKET 62
4.2 OVERVIEW OF RECESSION IN GLOBAL CHATBOT MARKET 62
FIGURE 26 CHATBOT MARKET TO WITNESS MINOR DECLINE IN Y-O-Y GROWTH IN 2023 62
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4.3 CHATBOT MARKET: TOP THREE BUSINESS FUNCTIONS 63
FIGURE 27 HR BUSINESS FUNCTION SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 63
4.4 NORTH AMERICA: CHATBOT MARKET, BY OFFERING AND TOP THREE VERTICALS 63
FIGURE 28 SOLUTIONS AND RETAIL AND ECOMMERCE SEGMENTS TO HOLD LARGEST MARKET SHARES IN NORTH AMERICA IN 2023 63
4.5 CHATBOT MARKET: BY REGION 64
FIGURE 29 NORTH AMERICA TO HOLD LARGEST MARKET SHARE IN 2023 64
5 MARKET OVERVIEW AND INDUSTRY TRENDS 65
5.1 INTRODUCTION 65
5.2 BRIEF HISTORY OF CHATBOT 65
FIGURE 30 BRIEF HISTORY OF CHATBOT 65
5.3 CHATBOT MARKET: ARCHITECTURE 67
FIGURE 31 CHATBOT MARKET ARCHITECTURE 67
5.4 MARKET DYNAMICS 68
FIGURE 32 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: CHATBOT MARKET 69
5.4.1 DRIVERS 69
5.4.1.1 Advancements in technology coupled with rising customer demand for self-service operations 69
5.4.1.2 Growth in need for 24?7 customer support at lower operational costs 70
5.4.1.3 Increase in focus on customer engagement through various channels 70
5.4.1.4 Rising usage of generative models in chatbots 70
5.4.2 RESTRAINTS 71
5.4.2.1 Inability to recognize customer intent and respond effectively 71
5.4.2.2 Accuracy concerns associated with voice authentication 72
5.4.3 OPPORTUNITIES 72
5.4.3.1 Initiatives toward development of self-learning chatbots to deliver human-like conversational experience 72
5.4.3.2 Rise in demand for AI-based chatbots to deliver enhanced customer experience 72
5.4.3.3 Integration of sentiment analysis with chatbots for meaningful customer insights 73
5.4.4 CHALLENGES 73
5.4.4.1 Lack of awareness about effect of chatbot technology on various applications 73
5.4.4.2 Complex and time-consuming setup and maintenance 73
5.5 CASE STUDY ANALYSIS 74
5.5.1 BFSI 74
5.5.1.1 Case Study 1: BankBazaar implemented Haptik’s chatbot to increase customer engagement and enhance customer reach 74
5.5.1.2 Case Study 2: Zurich Insurance Group worked with Spixii to develop Zara chatbot for quick notifications 75
5.5.1.3 Case Study 3: SIX Payment Services Ltd. partnered with Enterprise Bot to enhance customer service 75
5.5.1.4 Case Study 4: SEB Retail Bank enhances efficiency of internal and external support processes through IPsoft’s Amelia chatbot 76
5.5.2 RETAIL AND ECOMMERCE 77
5.5.2.1 Case Study 1: Kore.ai retail virtual assistants to process orders across digital channels 77
5.5.2.2 Case Study 2: Haptik helps JioMart with end-to-end shopping experience on WhatsApp 77
5.5.2.3 Case Study 3: Snaps offers personalized engagement model to Nike for increasing customer engagement via mobile channel 78
5.5.3 HEALTHCARE AND LIFE SCIENCES 78
5.5.3.1 Case Study 1: Tia selected RASA to incorporate HIPAA-compliant NLU and improve efficiency 78
5.5.3.2 Case Study 2: Kore.ai healthcare chatbots can automate routine tasks 79
5.5.3.3 Case Study 3: Netmeds partnered with Haptik to build chatbot capable of handling core challenges 79
5.5.4 TRANSPORTATION AND LOGISTICS 80
5.5.4.1 Case Study 1: Amtrak developed chatbot to help customers 80
5.5.4.2 Case Study 2: Ubisend offers Vanarama, a leasing chatbot solution, to enable customers to browse and handle customer queries 80
5.5.5 TRAVEL AND HOSPITALITY 81
5.5.5.1 Case Study 1: Indigo boosts customer satisfaction to 87% with Yellow.ai 81
5.5.5.2 Case Study 2: OYO integrated Haptik’s Live Chat Agent tool to provide customer support and handle queries over WhatsApp 81
5.5.6 TELECOM 82
5.5.6.1 Case Study 1: Elisa Estonia deployed MindTitan’s chatbot to analyze incoming chats and improve customer experience 82
5.5.7 MANUFACTURING 83
5.5.7.1 Case Study 1: L’Or?al partnered with Automat to develop messaging chatbot to increase customer engagement and enhance productivity 83
5.5.8 ENERGY AND UTILITIES 83
5.5.8.1 Case Study 1: ENN transitions to automated AI with IBM Watson Assistant 83
5.5.9 GOVERNMENT 84
5.5.9.1 Case Study 1: The State of New Jersey and IBM Consulting helps citizens efficiently with IBM virtual agents 84
5.6 SUPPLY CHAIN ANALYSIS 85
FIGURE 33 CHATBOT MARKET: SUPPLY CHAIN ANALYSIS 85
5.7 PATENT ANALYSIS 86
5.7.1 METHODOLOGY 86
5.7.2 DOCUMENT TYPE 86
TABLE 6 PATENTS FILED, 2020–2023 86
5.7.3 INNOVATION AND PATENT APPLICATIONS 86
FIGURE 34 TOTAL NUMBER OF PATENTS GRANTED, 2020–2023 86
5.7.3.1 Top applicants 87
FIGURE 35 TOP 10 PATENT APPLICANTS, 2020–2023 87
5.8 PRICING ANALYSIS 87
TABLE 7 CHATBOT MARKET: PRICING MODEL ANALYSIS, 2023 88
5.9 PORTER’S FIVE FORCES ANALYSIS 89
FIGURE 36 PORTER’S FIVE FORCES ANALYSIS 89
5.9.1 THREAT OF NEW ENTRANTS 90
5.9.2 THREAT OF SUBSTITUTES 90
5.9.3 BARGAINING POWER OF SUPPLIERS 90
5.9.4 BARGAINING POWER OF BUYERS 90
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 91
5.10 KEY CONFERENCES AND EVENTS, 2023–2024 91
TABLE 8 DETAILED LIST OF CONFERENCES AND EVENTS, 2023–2024 91
5.11 KEY BENEFITS OF CHATBOT DEPLOYMENT ACROSS BUSINESSES 92
5.11.1 SCALING OPERATIONS 92
5.11.2 ENHANCED CX AND EX 92
5.11.3 SIGNIFICANT COST REDUCTION 92
5.11.4 LEAD GENERATION 92
5.11.5 PERSONALIZED RECOMMENDATIONS 93
5.12 CHATBOT ROADMAP UNTIL 2030 93
FIGURE 37 CHATBOT ROADMAP UNTIL 2030 93
5.13 CHATBOT TOOLS AND FRAMEWORK 95
5.13.1 DIALOGFLOW BY GOOGLE 95
5.13.2 AMAZON LEX 95
5.13.3 IBM WATSON ASSISTANT 95
5.13.4 MICROSOFT BOT FRAMEWORK 95
5.13.5 RASA 95
5.13.6 BOTPRESS 95
5.14 ECOSYSTEM ANALYSIS 96
FIGURE 38 CHATBOT MARKET: ECOSYSTEM ANALYSIS 96
5.14.1 CHATBOT CLOUD PLATFORM PROVIDERS 97
5.14.2 CHATBOT API AND FRAMEWORK PROVIDERS 97
5.14.3 CHATBOT BUILDING PLATFORM PROVIDERS 97
5.14.4 CHATBOT END USERS 97
5.14.5 CHATBOT REGULATORS 97
5.15 CURRENT AND EMERGING BUSINESS MODELS USED FOR CHATBOT DEVELOPMENT 98
5.16 TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS OF CHATBOT MARKET 99
FIGURE 39 CHATBOT MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS 99
5.17 REGULATORY LANDSCAPE 100
5.17.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 100
TABLE 9 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 100
TABLE 10 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 101
TABLE 11 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 101
TABLE 12 MIDDLE EAST AND AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 102
TABLE 13 LATIN AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 102
5.18 KEY STAKEHOLDERS AND BUYING CRITERIA 103
5.18.1 KEY STAKEHOLDERS IN BUYING PROCESS 103
TABLE 14 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%) 103
5.18.2 BUYING CRITERIA 103
FIGURE 40 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 103
TABLE 15 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 104
5.19 TECHNOLOGY ANALYSIS 104
5.19.1 MACHINE LEARNING AND CHATBOT 104
5.19.2 DEEP LEARNING AND CHATBOT 105
5.19.3 NATURAL LANGUAGE PROCESSING AND CHATBOT 105
5.19.4 AUTOMATED SPEECH RECOGNITION AND CHATBOT 105
6 CHATBOT MARKET, BY OFFERING 106
6.1 INTRODUCTION 107
6.1.1 OFFERINGS: CHATBOT MARKET DRIVERS 107
FIGURE 41 SERVICES SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 107
TABLE 16 CHATBOT MARKET, BY OFFERING, 2017–2022 (USD MILLION) 108
TABLE 17 CHATBOT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 108
6.2 SOLUTIONS 108
FIGURE 42 MESSAGING-BASED SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 109
TABLE 18 CHATBOT MARKET, BY SOLUTION, 2017–2022 (USD MILLION) 109
TABLE 19 CHATBOT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 109
6.2.1 STANDALONE 110
6.2.1.1 Provides cost-effective, flexible, and scalable chatbot solutions 110
TABLE 20 STANDALONE: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 110
TABLE 21 STANDALONE: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 110
6.2.2 WEB-BASED 111
6.2.2.1 Rapid growth in chatbots to drive business value and enhance customer experience 111
TABLE 22 WEB-BASED: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 111
TABLE 23 WEB-BASED: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 111
6.2.3 MESSAGING-BASED 112
6.2.3.1 Rising popularity of messaging apps to drive market 112
TABLE 24 MESSAGING-BASED: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 112
TABLE 25 MESSAGING-BASED: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 112
6.2.4 OTHER SOLUTIONS 112
TABLE 26 OTHER SOLUTIONS: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 113
TABLE 27 OTHER SOLUTIONS: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 113
6.3 SERVICES 113
FIGURE 43 MANAGED SERVICES SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 114
TABLE 28 SERVICES: CHATBOT MARKET, BY TYPE, 2017–2022 (USD MILLION) 114
TABLE 29 SERVICES: CHATBOT MARKET, BY TYPE, 2023–2028 (USD MILLION) 114
6.3.1 MANAGED SERVICES 114
TABLE 30 MANAGED SERVICES: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 115
TABLE 31 MANAGED SERVICES: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 115
6.3.2 PROFESSIONAL SERVICES 115
FIGURE 44 TRAINING AND CONSULTING SERVICES SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 116
TABLE 32 PROFESSIONAL SERVICES: CHATBOT MARKET, BY TYPE, 2017–2022 (USD MILLION) 116
TABLE 33 PROFESSIONAL SERVICES: CHATBOT MARKET, BY TYPE, 2023–2028 (USD MILLION) 116
6.3.2.1 Training and consulting 117
6.3.2.1.1 Training and consulting services to play vital role in managing operations and technology updates 117
TABLE 34 TRAINING AND CONSULTING MARKET, BY REGION, 2017–2022 (USD MILLION) 117
TABLE 35 TRAINING AND CONSULTING MARKET, BY REGION, 2023–2028 (USD MILLION) 117
6.3.2.2 System integration and implementation 118
6.3.2.2.1 Rising need to ensure effective system communications led system integration and implementation services to gain traction 118
TABLE 36 SYSTEM INTEGRATION AND IMPLEMENTATION MARKET, BY REGION, 2017–2022 (USD MILLION) 118
TABLE 37 SYSTEM INTEGRATION AND IMPLEMENTATION MARKET, BY REGION, 2023–2028 (USD MILLION) 118
6.3.2.3 Support and maintenance 119
6.3.2.3.1 Demand for support and maintenance services to increase with rising chatbot deployment 119
TABLE 38 SUPPORT AND MAINTENANCE MARKET, BY REGION, 2017–2022 (USD MILLION) 119
TABLE 39 SUPPORT AND MAINTENANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 119
7 CHATBOT MARKET, BY TYPE 120
7.1 INTRODUCTION 121
7.1.1 TYPES: CHATBOT MARKET DRIVERS 121
FIGURE 45 VOICEBOTS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 121
TABLE 40 CHATBOT MARKET, BY TYPE, 2017–2022 (USD MILLION) 121
TABLE 41 CHATBOT MARKET, BY TYPE, 2023–2028 (USD MILLION) 122
7.2 MENU-BASED 122
7.2.1 STREAMLINES CONVERSATION AND PROVIDES EFFICIENT USER EXPERIENCE 122
TABLE 42 MENU-BASED: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 122
TABLE 43 MENU-BASED: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 123
7.3 LINGUISTIC-BASED 123
7.3.1 ADVANCES IN NLP TECHNOLOGY FOR CHATBOTS TO HELP ACCURATELY INTERPRET NATURAL LANGUAGE 123
TABLE 44 LINGUISTIC-BASED: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 123
TABLE 45 LINGUISTIC-BASED: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 124
7.4 KEYWORD RECOGNITION-BASED 124
7.4.1 PERSONALIZED RESPONSES BASED ON USER DATA TO HELP IMPROVE CUSTOMER SATISFACTION AND LOYALTY 124
TABLE 46 KEYWORD RECOGNITION-BASED: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 124
TABLE 47 KEYWORD RECOGNITION-BASED: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 125
7.5 CONTEXTUAL 125
7.5.1 PROVIDES PERSONALIZED EXPERIENCES TO CUSTOMERS BY UNDERSTANDING PREFERENCES 125
TABLE 48 CONTEXTUAL: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 125
TABLE 49 CONTEXTUAL: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 126
7.6 HYBRID 126
7.6.1 PROVIDES ADVANCED AND PERSONALIZED CHATBOT EXPERIENCES 126
TABLE 50 HYBRID: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 126
TABLE 51 HYBRID: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 127
7.7 VOICEBOTS 127
7.7.1 INCREASING USAGE OF VOICE ASSISTANTS TO BOOST MARKET 127
TABLE 52 VOICEBOTS: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 127
TABLE 53 VOICEBOTS: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 128
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8 CHATBOT MARKET, BY CHANNEL INTEGRATION 129
8.1 INTRODUCTION 130
8.1.1 CHANNEL INTEGRATION: CHATBOT MARKET DRIVERS 130
FIGURE 46 MESSAGING APPS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 130
TABLE 54 CHATBOT MARKET, BY CHANNEL INTEGRATION, 2017–2022 (USD MILLION) 131
TABLE 55 CHATBOT MARKET, BY CHANNEL INTEGRATION, 2023–2028 (USD MILLION) 131
8.2 EMAIL AND WEBSITE 131
8.2.1 GROWING NEED TO PROVIDE PRODUCT RECOMMENDATIONS TO WEBSITE VISITORS 131
TABLE 56 EMAIL AND WEBSITE: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 132
TABLE 57 EMAIL AND WEBSITE: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 132
8.3 MOBILE APPS 132
8.3.1 RISING NEED FOR PERSONALIZED RECOMMENDATIONS AND RESPONSES BASED ON USER BEHAVIOR AND PREFERENCES 132
TABLE 58 MOBILE APPS: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 133
TABLE 59 MOBILE APPS: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 133
8.4 TELEPHONE/IVR 133
8.4.1 FACILITATES CONVERSATIONS BETWEEN CUSTOMERS AND BUSINESSES 133
TABLE 60 TELEPHONE/IVR: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 134
TABLE 61 TELEPHONE/IVR: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 134
8.5 MESSAGING APPS 134
8.5.1 PROLIFERATION OF SMARTPHONES OFFERS OPPORTUNITIES FOR CHATBOT SOLUTION DEPLOYMENT 134
FIGURE 47 ENTERPRISE MESSENGER SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 135
TABLE 62 CHATBOT MARKET, BY MESSAGING APP, 2017–2022 (USD MILLION) 135
TABLE 63 CHATBOT MARKET, BY MESSAGING APP, 2023–2028 (USD MILLION) 135
TABLE 64 MESSAGING APPS: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 136
TABLE 65 MESSAGING APPS: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 136
8.5.2 SOCIAL MESSENGER 136
TABLE 66 SOCIAL MESSENGER: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 137
TABLE 67 SOCIAL MESSENGER: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 137
8.5.3 ENTERPRISE MESSENGER 137
TABLE 68 ENTERPRISE MESSENGER: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 138
TABLE 69 ENTERPRISE MESSENGER: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 138
9 CHATBOT MARKET, BY BOT COMMUNICATION 139
9.1 INTRODUCTION 140
9.1.1 BOT COMMUNICATION: CHATBOT MARKET DRIVERS 140
FIGURE 48 AUDIO/VOICE SEGMENT TO WITNESS HIGHEST GROWTH RATE DURING FORECAST PERIOD 140
TABLE 70 CHATBOT MARKET, BY BOT COMMUNICATION, 2017–2022 (USD MILLION) 141
TABLE 71 CHATBOT MARKET, BY BOT COMMUNICATION, 2023–2028 (USD MILLION) 141
9.2 TEXT 141
9.2.1 HANDLES MULTIPLE CUSTOMER INTERACTIONS WITH REDUCED WAITING TIME 141
TABLE 72 TEXT: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 141
TABLE 73 TEXT: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 142
9.3 AUDIO/VOICE 142
9.3.1 GROWING NEED FOR MORE PERSONALIZED INTERFACE AND BETTER MARKETING STRATEGIES TO BOOST MARKET 142
TABLE 74 AUDIO/VOICE: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 142
TABLE 75 AUDIO/VOICE: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 143
9.4 VIDEO 143
9.4.1 RISE OF REMOTE WORK AND VIRTUAL EVENTS TO PROPEL ADOPTION OF VIDEO CHATBOTS AMONG ENTERPRISES 143
TABLE 76 VIDEO: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 143
TABLE 77 VIDEO: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 144
10 CHATBOT MARKET, BY BUSINESS FUNCTION 145
10.1 INTRODUCTION 146
10.1.1 BUSINESS FUNCTIONS: CHATBOT MARKET DRIVERS 146
FIGURE 49 HR SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 146
TABLE 78 CHATBOT MARKET, BY BUSINESS FUNCTION, 2017–2022 (USD MILLION) 146
TABLE 79 CHATBOT MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 147
10.2 HUMAN RESOURCES 147
TABLE 80 HUMAN RESOURCES: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 147
TABLE 81 HUMAN RESOURCES: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 148
10.2.1 HR APPLICATIONS 148
FIGURE 50 RECRUITMENT APPLICATION TO HOLD LARGEST SHARE IN 2023 148
TABLE 82 CHATBOT MARKET FOR HR, BY APPLICATION, 2017–2022 (USD MILLION) 148
TABLE 83 CHATBOT MARKET FOR HR, BY APPLICATION, 2023–2028 (USD MILLION) 149
10.2.2 RECRUITMENT 149
10.2.2.1 Provides effective onboarding process with real-time feedback analysis 149
10.2.3 ONBOARDING 149
10.2.3.1 Collects information from applicants and suggests long-term improvements 149
10.2.4 SURVEY 150
10.2.4.1 Provides efficient customer support 150
10.2.5 QUESTION ANSWERING 150
10.2.5.1 NLP enables chatbots to respond to users with human-like conversations 150
10.2.6 OTHER HR APPLICATIONS 150
10.3 SALES AND MARKETING 150
TABLE 84 SALES AND MARKETING: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 151
TABLE 85 SALES AND MARKETING: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 151
10.3.1 SALES AND MARKETING APPLICATIONS 151
FIGURE 51 CUSTOMER ENGAGEMENT AND RETENTION SEGMENT TO HOLD LARGEST SHARE IN 2023 151
TABLE 86 CHATBOT MARKET FOR SALES AND MARKETING, BY APPLICATION, 2017–2022 (USD MILLION) 152
TABLE 87 CHATBOT MARKET FOR SALES AND MARKETING, BY APPLICATION, 2023–2028 (USD MILLION) 152
10.3.2 CUSTOMER ENGAGEMENT AND RETENTION 152
10.3.2.1 Provides instant, personalized, and convenient service 152
10.3.3 BRANDING AND ADVERTISING 153
10.3.3.1 Provides personalized experiences and targeted messaging to potential customers 153
10.3.4 CAMPAIGN MANAGEMENT 153
10.3.4.1 Improves user experience and helps create personalized interaction 153
10.3.5 PERSONALIZED RECOMMENDATION 153
10.3.5.1 Collects and analyzes user data in real time 153
10.3.6 OTHER SALES AND MARKETING APPLICATIONS 153
10.4 FINANCE AND ACCOUNTING 154
TABLE 88 FINANCE AND ACCOUNTING: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 154
TABLE 89 FINANCE AND ACCOUNTING: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 154
10.4.1 FINANCE AND ACCOUNTING APPLICATIONS 155
FIGURE 52 CUSTOMER SUPPORT SEGMENT TO HOLD LARGEST SHARE IN 2023 155
TABLE 90 CHATBOT MARKET FOR FINANCE AND ACCOUNTING, BY APPLICATION, 2017–2022 (USD MILLION) 155
TABLE 91 CHATBOT MARKET FOR FINANCE AND ACCOUNTING, BY APPLICATION, 2023–2028 (USD MILLION) 155
10.4.2 CUSTOMER SUPPORT 156
10.4.2.1 Provides cost-effective, flexible, and scalable chatbot systems 156
10.4.3 PROCUREMENT MANAGEMENT 156
10.4.3.1 Reduces costs associated with manual labor and increases efficiency 156
10.4.4 EXPENSE TRACKING AND REPORTING 156
10.4.4.1 Provides comprehensive view of financial performance 156
10.4.5 DATA PRIVACY AND COMPLIANCE 156
10.4.5.1 Ensures chatbots to be secure, trustworthy, and compliant with legal requirements 156
10.4.6 OTHER FINANCE AND ACCOUNTING APPLICATIONS 157
10.5 INFORMATION TECHNOLOGY SERVICE MANAGEMENT 157
TABLE 92 ITSM: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 157
TABLE 93 ITSM: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 157
10.5.1 ITSM APPLICATIONS 158
FIGURE 53 INCIDENT MANAGEMENT SEGMENT TO HOLD LARGEST SHARE IN 2023 158
TABLE 94 CHATBOT MARKET FOR ITSM, BY APPLICATION, 2017–2022 (USD MILLION) 158
TABLE 95 CHATBOT MARKET FOR ITSM, BY APPLICATION, 2023–2028 (USD MILLION) 158
10.5.2 INCIDENT MANAGEMENT 159
10.5.2.1 Provides regular updates on status and estimated resolution time 159
10.5.3 COST OPTIMIZATION 159
10.5.3.1 Eliminates redundancy and reduces software licensing costs 159
10.5.4 QUERY HANDLING 159
10.5.4.1 Provides better customer insights 159
10.5.5 KNOWLEDGE MANAGEMENT 159
10.5.5.1 Provides personalized responses to users based on history and preferences 159
10.5.6 OTHER ITSM APPLICATIONS 160
10.6 OPERATIONS AND SUPPLY CHAIN 160
TABLE 96 OPERATIONS AND SUPPLY CHAIN: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 160
TABLE 97 OPERATIONS AND SUPPLY CHAIN: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 161
10.6.1 OPERATIONS AND SUPPLY CHAIN APPLICATIONS 161
FIGURE 54 WORKFLOW OPTIMIZATION SEGMENT TO HOLD LARGEST SHARE IN 2023 161
TABLE 98 CHATBOT MARKET FOR OPERATIONS AND SUPPLY CHAIN, BY APPLICATION, 2017–2022 (USD MILLION) 161
TABLE 99 CHATBOT MARKET FOR OPERATIONS AND SUPPLY CHAIN, BY APPLICATION, 2023–2028 (USD MILLION) 162
10.6.2 WORKFLOW OPTIMIZATION 162
10.6.2.1 Offers effective business operations process 162
10.6.3 SCHEDULING AND ROUTING 162
10.6.3.1 Rapid growth in chatbots drives business value and enhances efficiency and customer experience 162
10.6.4 INVENTORY MANAGEMENT 163
10.6.4.1 Improves efficiency and accuracy of orders 163
10.6.5 VENDOR ENGAGEMENT 163
10.6.5.1 Improves efficiency, reduces costs, and streamlines supply chain 163
10.6.6 OTHER OPERATIONS AND SUPPLY CHAIN APPLICATIONS 163
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10.7 CONTACT CENTERS 163
TABLE 100 CONTACT CENTERS: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 164
TABLE 101 CONTACT CENTERS: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 164
10.7.1 CONTACT CENTERS APPLICATIONS 164
FIGURE 55 AGENT PERFORMANCE MANAGEMENT SEGMENT TO HOLD LARGEST SHARE IN 2023 164
TABLE 102 CHATBOT MARKET FOR CONTACT CENTERS, BY APPLICATION, 2017–2022 (USD MILLION) 165
TABLE 103 CHATBOT MARKET FOR CONTACT CENTERS, BY APPLICATION, 2023–2028 (USD MILLION) 165
10.7.2 AGENT PERFORMANCE MANAGEMENT 165
10.7.2.1 Improves agent performance and customer satisfaction 165
10.7.3 AGENT WORKFORCE MANAGEMENT 165
10.7.3.1 Need to schedule training and assist firms to manage workforce 165
10.7.4 QUESTION ANSWERING 166
10.7.4.1 Improves efficiency by providing fast and accurate answers 166
10.7.5 CUSTOMER SUPPORT AND FEEDBACK 166
10.7.5.1 Enhances customer support services and builds stronger customer relationships 166
10.7.6 OTHER CONTACT CENTER APPLICATIONS 166
11 CHATBOT MARKET, BY VERTICAL 167
11.1 INTRODUCTION 168
11.1.1 VERTICALS: CHATBOT MARKET DRIVERS 168
FIGURE 56 HEALTHCARE AND LIFE SCIENCES VERTICAL TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 169
TABLE 104 CHATBOT MARKET, BY VERTICAL, 2017–2022 (USD MILLION) 169
TABLE 105 CHATBOT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 170
11.2 BANKING, FINANCIAL SERVICES, AND INSURANCE 170
11.2.1 CHATBOT SOLUTIONS TO HELP REDUCE FRAUD, LEVERAGE INTELLIGENT, CUSTOMER-FOCUSED MARKETING 170
11.2.2 BANKING, FINANCIAL SERVICES, AND INSURANCE: CHATBOT USE CASES 171
FIGURE 57 BANKING, FINANCIAL SERVICES, AND INSURANCE: CHATBOT USE CASES 171
TABLE 106 BFSI: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 172
TABLE 107 BFSI: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 172
11.3 ENERGY AND UTILITIES 172
11.3.1 IMPROVES CUSTOMER SERVICE, INCREASES EFFICIENCY, AND REDUCES COSTS 172
11.3.2 ENERGY AND UTILITIES: CHATBOT USE CASES 173
FIGURE 58 ENERGY AND UTILITIES: CHATBOT USE CASES 173
TABLE 108 ENERGY AND UTILITIES: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 173
TABLE 109 ENERGY AND UTILITIES: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 173
11.4 RETAIL AND ECOMMERCE 174
11.4.1 CHATBOTS HELP IN RETAINING CUSTOMERS, COLLECTING FEEDBACK, AND DRIVING SALES 174
11.4.2 RETAIL AND ECOMMERCE: CHATBOT USE CASES 174
FIGURE 59 RETAIL AND ECOMMERCE: CHATBOT USE CASES 174
TABLE 110 RETAIL AND ECOMMERCE: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 175
TABLE 111 RETAIL AND ECOMMERCE: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 175
11.5 IT AND ITES 175
11.5.1 PROVIDES MORE PERSONALIZED AND RELEVANT EXPERIENCE FOR CUSTOMERS BY UNDERSTANDING PREFERENCES 175
11.5.2 IT AND ITES: CHATBOT USE CASES 176
FIGURE 60 IT AND ITES: CHATBOT USE CASES 176
TABLE 112 IT AND ITES: CHATBOT MARKET, BY REGION, 2017–2022 (USD MILLION) 176
TABLE 113 IT AND ITES: CHATBOT MARKET, BY REGION, 2023–2028 (USD MILLION) 176
11.6 TRAVEL AND HOSPITALITY 177
11.6.1 GROWING NEED TO PROVIDE ADVANCED AND PERSONALIZED CHATBOT EXPERIENCES 177
11.6.2 TRAVE



12.3 EUROPE 200
12.3.1 EUROPE: CHATBOT MARKET DRIVERS 200
12.3.2 EUROPE: RECESSION IMPACT 200
TABLE 150 EUROPE: CHATBOT MARKET, BY OFFERING, 2017–2022 (USD MILLION) 201
TABLE 151 EUROPE: CHATBOT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 201
TABLE 152 EUROPE: CHATBOT MARKET, BY SOLUTION, 2017–2022 (USD MILLION) 201
TABLE 153 EUROPE: CHATBOT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 202
TABLE 154 EUROPE: CHATBOT MARKET, BY CHANNEL INTEGRATION, 2017–2022 (USD MILLION) 202
TABLE 155 EUROPE: CHATBOT MARKET, BY CHANNEL INTEGRATION, 2023–2028 (USD MILLION) 202
TABLE 156 EUROPE: CHATBOT MARKET, BY MESSAGING APP, 2017–2022 (USD MILLION) 202
TABLE 157 EUROPE: CHATBOT MARKET, BY MESSAGING APP, 2023–2028 (USD MILLION) 203
TABLE 158 EUROPE: CHATBOT MARKET, BY SERVICE, 2017–2022 (USD MILLION) 203
TABLE 159 EUROPE: CHATBOT MARKET, BY SERVICE, 2023–2028 (USD MILLION) 203
TABLE 160 EUROPE: CHATBOT MARKET, BY PROFESSIONAL SERVICE, 2017–2022 (USD MILLION) 203
TABLE 161 EUROPE: CHATBOT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 204
TABLE 162 EUROPE: CHATBOT MARKET, BY BUSINESS FUNCTION, 2017–2022 (USD MILLION) 204
TABLE 163 EUROPE: CHATBOT MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 204
TABLE 164 EUROPE: CHATBOT MARKET, BY TYPE, 2017–2022 (USD MILLION) 205
TABLE 165 EUROPE: CHATBOT MARKET, BY TYPE, 2023–2028 (USD MILLION) 205
TABLE 166 EUROPE: CHATBOT MARKET, BY BOT COMMUNICATION, 2017–2022 (USD MILLION) 205
TABLE 167 EUROPE: CHATBOT MARKET, BY BOT COMMUNICATION, 2023–2028 (USD MILLION) 206
TABLE 168 EUROPE: CHATBOT MARKET, BY VERTICAL, 2017–2022 (USD MILLION) 206
TABLE 169 EUROPE: CHATBOT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 206
TABLE 170 EUROPE: CHATBOT MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 207
TABLE 171 EUROPE: CHATBOT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 207
12.3.3 UK 207
12.3.3.1 Growing adoption of chatbots in eCommerce and rising number of startups to fuel market growth 207
12.3.4 GERMANY 208
12.3.4.1 Growing adoption of cutting-edge digital technologies enables to adopt chatbot solutions in various verticals 208
12.3.5 FRANCE 208
12.3.5.1 Rising investments to adopt cutting-edge technologies and initiatives to support startups 208
12.3.6 ITALY 209
12.3.6.1 Chatbot solutions fulfill customer requests in personalized way 209
12.3.7 SPAIN 209
12.3.7.1 Rapid adoption of emerging technologies to enhance customer experience 209
12.3.8 REST OF EUROPE 209
12.3.8.1 Initiatives taken by government and rising application of chatbots across verticals to drive market 209
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12.4 ASIA PACIFIC 210
12.4.1 ASIA PACIFIC: CHATBOT MARKET DRIVERS 210
12.4.2 ASIA PACIFIC: RECESSION IMPACT 210
FIGURE 70 ASIA PACIFIC: MARKET SNAPSHOT 211
TABLE 172 ASIA PACIFIC: CHATBOT MARKET, BY OFFERING, 2017–2022 (USD MILLION) 212
TABLE 173 ASIA PACIFIC: CHATBOT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 212
TABLE 174 ASIA PACIFIC: CHATBOT MARKET, BY SOLUTION, 2017–2022 (USD MILLION) 212
TABLE 175 ASIA PACIFIC: CHATBOT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 212
TABLE 176 ASIA PACIFIC: CHATBOT MARKET, BY CHANNEL INTEGRATION, 2017–2022 (USD MILLION) 213
TABLE 177 ASIA PACIFIC: CHATBOT MARKET, BY CHANNEL INTEGRATION, 2023–2028 (USD MILLION) 213
TABLE 178 ASIA PACIFIC: CHATBOT MARKET, BY MESSAGING APP, 2017–2022 (USD MILLION) 213
TABLE 179 ASIA PACIFIC: CHATBOT MARKET, BY MESSAGING APP, 2023–2028 (USD MILLION) 213
TABLE 180 ASIA PACIFIC: CHATBOT MARKET, BY SERVICE, 2017–2022 (USD MILLION) 214
TABLE 181 ASIA PACIFIC: CHATBOT MARKET, BY SERVICE, 2023–2028 (USD MILLION) 214
TABLE 182 ASIA PACIFIC: CHATBOT MARKET, BY PROFESSIONAL SERVICE, 2017–2022 (USD MILLION) 214
TABLE 183 ASIA PACIFIC: CHATBOT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 214
TABLE 184 ASIA PACIFIC: CHATBOT MARKET, BY BUSINESS FUNCTION, 2017–2022 (USD MILLION) 215
TABLE 185 ASIA PACIFIC: CHATBOT MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 215
TABLE 186 ASIA PACIFIC: CHATBOT MARKET, BY TYPE, 2017–2022 (USD MILLION) 215
TABLE 187 ASIA PACIFIC: CHATBOT MARKET, BY TYPE, 2023–2028 (USD MILLION) 216
TABLE 188 ASIA PACIFIC: CHATBOT MARKET, BY BOT COMMUNICATION, 2017–2022 (USD MILLION) 216
TABLE 189 ASIA PACIFIC: CHATBOT MARKET, BY BOT COMMUNICATION, 2023–2028 (USD MILLION) 216
TABLE 190 ASIA PACIFIC: CHATBOT MARKET, BY VERTICAL, 2017–2022 (USD MILLION) 217
TABLE 191 ASIA PACIFIC: CHATBOT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 217
TABLE 192 ASIA PACIFIC: CHATBOT MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 218
TABLE 193 ASIA PACIFIC: CHATBOT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 218
12.4.3 CHINA 218
12.4.3.1 Growing chatbot solutions in various verticals to drive market 218
12.4.4 INDIA 219
12.4.4.1 Adoption of AI technology to drive market 219
12.4.5 JAPAN 219
12.4.5.1 Advancements in technologies and need to prevent data breaches to drive market 219
12.4.6 ANZ 220
12.4.6.1 Rising need to reduce overall operational costs to drive market 220
12.4.7 SOUTH KOREA 220
12.4.7.1 Adoption of AI and related technologies to help create favorable environment for market growth 220
12.4.8 ASEAN 220
12.4.8.1 Growing data generation to boost demand 220
12.4.9 REST OF ASIA PACIFIC 221
12.5 MIDDLE EAST AND AFRICA 221
12.5.1 MIDDLE EAST AND AFRICA: CHATBOT MARKET DRIVERS 221
12.5.2 MIDDLE EAST AND AFRICA: RECESSION IMPACT 221
TABLE 194 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY OFFERING, 2017–2022 (USD MILLION) 222
TABLE 195 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 222
TABLE 196 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY SOLUTION, 2017–2022 (USD MILLION) 222
TABLE 197 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 223
TABLE 198 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY CHANNEL INTEGRATION, 2017–2022 (USD MILLION) 223
TABLE 199 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY CHANNEL INTEGRATION, 2023–2028 (USD MILLION) 223
TABLE 200 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY MESSAGING APP, 2017–2022 (USD MILLION) 223
TABLE 201 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY MESSAGING APP, 2023–2028 (USD MILLION) 224
TABLE 202 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY SERVICE, 2017–2022 (USD MILLION) 224
TABLE 203 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY SERVICE, 2023–2028 (USD MILLION) 224
TABLE 204 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY PROFESSIONAL SERVICE, 2017–2022 (USD MILLION) 224
TABLE 205 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 225
TABLE 206 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY BUSINESS FUNCTION, 2017–2022 (USD MILLION) 225
TABLE 207 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 225
TABLE 208 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY TYPE, 2017–2022 (USD MILLION) 226
TABLE 209 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY TYPE, 2023–2028 (USD MILLION) 226
TABLE 210 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY BOT COMMUNICATION, 2017–2022 (USD MILLION) 226
TABLE 211 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY BOT COMMUNICATION, 2023–2028 (USD MILLION) 227
TABLE 212 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY VERTICAL, 2017–2022 (USD MILLION) 227
TABLE 213 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 228
TABLE 214 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 228
TABLE 215 MIDDLE EAST AND AFRICA: CHATBOT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 228
12.5.3 UNITED ARAB EMIRATES 229
12.5.3.1 Chatbot solutions to offer customer support services 229
12.5.4 SAUDI ARABIA 229
12.5.4.1 Chatbot solutions to improve operational efficiency 229
12.5.5 SOUTH AFRICA 229
12.5.5.1 Emphasis on improving customer experience to drive demand for chatbot 229
12.5.6 ISRAEL 230
12.5.6.1 Rising need to reduce overall operational costs to drive market 230
12.5.7 EGYPT 230
12.5.7.1 Rapid evolution of digital products and services to grow market 230
12.5.8 REST OF MIDDLE EAST AND AFRICA 230
12.6 LATIN AMERICA 230
12.6.1 LATIN AMERICA: CHATBOT MARKET DRIVERS 231
12.6.2 LATIN AMERICA: RECESSION IMPACT 231
TABLE 216 LATIN AMERICA: CHATBOT MARKET, BY OFFERING, 2017–2022 (USD MILLION) 231
TABLE 217 LATIN AMERICA: CHATBOT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 231
TABLE 218 LATIN AMERICA: CHATBOT MARKET, BY SOLUTION, 2017–2022 (USD MILLION) 232
TABLE 219 LATIN AMERICA: CHATBOT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 232
TABLE 220 LATIN AMERICA: CHATBOT MARKET, BY CHANNEL INTEGRATION, 2017–2022 (USD MILLION) 232
TABLE 221 LATIN AMERICA: CHATBOT MARKET, BY CHANNEL INTEGRATION, 2023–2028 (USD MILLION) 233
TABLE 222 LATIN AMERICA: CHATBOT MARKET, BY MESSAGING APP, 2017–2022 (USD MILLION) 233
TABLE 223 LATIN AMERICA: CHATBOT MARKET, BY MESSAGING APP, 2023–2028 (USD MILLION) 233
TABLE 224 LATIN AMERICA: CHATBOT MARKET, BY SERVICE, 2017–2022 (USD MILLION) 233
TABLE 225 LATIN AMERICA: CHATBOT MARKET, BY SERVICE, 2023–2028 (USD MILLION) 234
TABLE 226 LATIN AMERICA: CHATBOT MARKET, BY PROFESSIONAL SERVICE, 2017–2022 (USD MILLION) 234
TABLE 227 LATIN AMERICA: CHATBOT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 234
TABLE 228 LATIN AMERICA: CHATBOT MARKET, BY BUSINESS FUNCTION, 2017–2022 (USD MILLION) 235
TABLE 229 LATIN AMERICA: CHATBOT MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 235
TABLE 230 LATIN AMERICA: CHATBOT MARKET, BY TYPE, 2017–2022 (USD MILLION) 235
TABLE 231 LATIN AMERICA: CHATBOT MARKET, BY TYPE, 2023–2028 (USD MILLION) 236
TABLE 232 LATIN AMERICA: CHATBOT MARKET, BY BOT COMMUNICATION, 2017–2022 (USD MILLION) 236
TABLE 233 LATIN AMERICA: CHATBOT MARKET, BY BOT COMMUNICATION, 2023–2028 (USD MILLION) 236
TABLE 234 LATIN AMERICA: CHATBOT MARKET, BY VERTICAL, 2017–2022 (USD MILLION) 237
TABLE 235 LATIN AMERICA: CHATBOT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 237
TABLE 236 LATIN AMERICA: CHATBOT MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 238
TABLE 237 LATIN AMERICA: CHATBOT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 238
12.6.3 BRAZIL 238
12.6.3.1 Focuses on technologies and applications to grow market 238
12.6.4 MEXICO 239
12.6.4.1 Demand for AI-based technologies to drive growth 239
12.6.5 ARGENTINA 239
12.6.5.1 Rising chatbot startups for better customer experience to spur market growth 239
12.6.6 REST OF LATIN AMERICA 239
13 COMPETITIVE LANDSCAPE 240
13.1 OVERVIEW 240
13.2 KEY PLAYER STRATEGIES 240
TABLE 238 OVERVIEW OF STRATEGIES ADOPTED BY KEY CHATBOT VENDORS 240
13.3 REVENUE ANALYSIS 242
13.3.1 HISTORICAL REVENUE ANALYSIS 242
FIGURE 71 HISTORICAL REVENUE ANALYSIS OF TOP PLAYERS, 2020–2022 (USD MILLION) 242
13.4 MARKET SHARE ANALYSIS 243
FIGURE 72 MARKET SHARE ANALYSIS FOR KEY COMPANIES, 2022 243
TABLE 239 CHATBOT MARKET: DEGREE OF COMPETITION 244
13.5 COMPANY EVALUATION QUADRANT 244
13.5.1 STARS 244
13.5.2 EMERGING LEADERS 244
13.5.3 PERVASIVE PLAYERS 245
13.5.4 PARTICIPANTS 245
FIGURE 73 KEY CHATBOT MARKET PLAYERS, COMPANY EVALUATION QUADRANT, 2022 245
13.5.5 COMPETITIVE BENCHMARKING 246
TABLE 240 CHATBOT MARKET: PRODUCT FOOTPRINT ANALYSIS OF KEY PLAYERS, 2022 246
TABLE 241 CHATBOT MARKET: PRODUCT FOOTPRINT ANALYSIS OF OTHER KEY PLAYERS, 2022 247
13.6 STARTUP/SME EVALUATION QUADRANT 247
13.6.1 PROGRESSIVE COMPANIES 248
13.6.2 RESPONSIVE COMPANIES 248
13.6.3 DYNAMIC COMPANIES 248
13.6.4 STARTING BLOCKS 248
FIGURE 74 STARTUPS/SMES CHATBOT PLAYERS, COMPANY EVALUATION QUADRANT, 2022 249
13.6.5 STARTUPS/SMES COMPETITIVE BENCHMARKING 249
TABLE 242 CHATBOT MARKET: DETAILED LIST OF KEY STARTUPS/SMES 250
TABLE 243 CHATBOT MARKET: PRODUCT FOOTPRINT ANALYSIS OF STARTUPS/SMES PLAYERS, 2023 251
13.7 COMPETITIVE SCENARIO AND TRENDS 251
13.7.1 PRODUCT LAUNCHES 251
TABLE 244 SERVICE/PRODUCT LAUNCHES, 2020–2023 252
13.7.2 DEALS 254
TABLE 245 DEALS, 2020–2023 254
13.8 CHATBOT MARKET PRODUCT LANDSCAPE 257
TABLE 246 COMPARATIVE ANALYSIS OF TRENDING CHATBOT PRODUCTS 257
13.8.1 IBM WATSON ASSISTANT 258
13.8.2 AMAZON LEX 258
13.8.3 GOOGLE DIALOGFLOW 258
13.8.4 BLENDERBOT 3 258
13.8.5 OPENAI GPT-4 258
13.8.6 MICROSOFT BOT FRAMEWORK 258
14 COMPANY PROFILES 259
14.1 INTRODUCTION 259
14.2 KEY PLAYERS 259
(Business Overview, Products offered, Recent Developments, MnM View)*
14.2.1 MICROSOFT 259
TABLE 247 MICROSOFT: BUSINESS OVERVIEW 259
FIGURE 75 MICROSOFT: COMPANY SNAPSHOT 260
TABLE 248 MICROSOFT: PRODUCTS OFFERED 260
TABLE 249 MICROSOFT: PRODUCT LAUNCHES 261
TABLE 250 MICROSOFT: DEALS 262
14.2.2 IBM 263
TABLE 251 IBM: BUSINESS OVERVIEW 263
FIGURE 76 IBM: COMPANY SNAPSHOT 264
TABLE 252 IBM: PRODUCTS OFFERED 264
TABLE 253 IBM: PRODUCT LAUNCHES 265
TABLE 254 IBM: DEALS 265
14.2.3 GOOGLE 267
TABLE 255 GOOGLE: BUSINESS OVERVIEW 267
FIGURE 77 GOOGLE: COMPANY SNAPSHOT 268
TABLE 256 GOOGLE: PRODUCTS OFFERED 268
TABLE 257 GOOGLE: PRODUCT LAUNCHES AND ENHANCEMENTS 269
14.2.4 AWS 271
TABLE 258 AWS: BUSINESS OVERVIEW 271
FIGURE 78 AWS: COMPANY SNAPSHOT 271
TABLE 259 AWS: PRODUCTS OFFERED 272
TABLE 260 AWS: PRODUCT LAUNCHES AND ENHANCEMENTS 272
TABLE 261 AWS: DEALS 272
14.2.5 BAIDU 274
TABLE 262 BAIDU: BUSINESS OVERVIEW 274
FIGURE 79 BAIDU: COMPANY SNAPSHOT 275
TABLE 263 BAIDU: PRODUCTS OFFERED 275
TABLE 264 BAIDU: PRODUCT LAUNCHES 276
TABLE 265 BAIDU: DEALS 276
14.2.6 OPENAI 278
TABLE 266 OPENAI: BUSINESS OVERVIEW 278
TABLE 267 OPENAI: PRODUCTS OFFERED 279
TABLE 268 OPENAI: PRODUCT LAUNCHES 279
TABLE 269 OPENAI: DEALS 280
14.2.7 SALESFORCE 281
TABLE 270 SALESFORCE: BUSINESS OVERVIEW 281
FIGURE 80 SALESFORCE: COMPANY SNAPSHOT 282
TABLE 271 SALESFORCE: PRODUCTS OFFERED 282
TABLE 272 SALESFORCE: DEALS 283
14.2.8 META 284
TABLE 273 META: BUSINESS OVERVIEW 284
FIGURE 81 META: COMPANY SNAPSHOT 285
TABLE 274 META: PRODUCTS OFFERED 285
TABLE 275 META: PRODUCT LAUNCHES AND ENHANCEMENTS 286
TABLE 276 META: DEALS 286
14.2.9 ARTIFICIAL SOLUTIONS 287
TABLE 277 ARTIFICIAL SOLUTIONS: BUSINESS OVERVIEW 287
FIGURE 82 ARTIFICIAL SOLUTIONS: COMPANY SNAPSHOT 287
TABLE 278 ARTIFICIAL SOLUTIONS: PRODUCTS OFFERED 288
TABLE 279 ARTIFICIAL SOLUTIONS: PRODUCT LAUNCHES AND ENHANCEMENTS 288
TABLE 280 ARTIFICIAL SOLUTIONS: DEALS 289
TABLE 281 ARTIFICIAL SOLUTIONS: OTHERS 290
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14.2.10 ORACLE 291
TABLE 282 ORACLE: BUSINESS OVERVIEW 291
FIGURE 83 ORACLE: COMPANY SNAPSHOT 292
TABLE 283 ORACLE: PRODUCTS OFFERED 292
TABLE 284 ORACLE: PRODUCT LAUNCHES 293
TABLE 285 ORACLE: DEALS 294
14.2.11 SAP 295
TABLE 286 SAP: BUSINESS OVERVIEW 295
FIGURE 84 SAP: COMPANY SNAPSHOT 296
TABLE 287 SAP: PRODUCTS OFFERED 296
TABLE 288 SAP: DEALS 297
14.2.12 SERVICENOW 298
TABLE 289 SERVICENOW: BUSINESS OVERVIEW 298
FIGURE 85 SERVICENOW: COMPANY SNAPSHOT 299
TABLE 290 SERVICENOW: PRODUCTS OFFERED 299
TABLE 291 SERVICENOW: PRODUCT LAUNCHES AND ENHANCEMENTS 300
TABLE 292 SERVICENOW: DEALS 300
14.3 OTHER KEY PLAYERS 301
14.3.1 AVAAMO 301
14.3.2 CONVERSICA 302
14.3.3 HAPTIK 303
14.3.4 INBENTA 304
14.3.5 CREATIVE VIRTUAL 305
14.3.6 KORE.AI 306
14.3.7 [24]7.AI 307
14.3.8 AIVO 307
14.3.9 PERSONETICS 308
14.3.10 LIVEPERSON 308
14.3.11 GUPSHUP 309
14.3.12 FRESHWORKS 310
14.3.13 SOLVVY 310
14.3.14 PANDORABOTS 311
14.3.15 INTERCOM 311
*Details on Business Overview, Products offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
14.4 STARTUP/SME PLAYERS 312
14.4.1 ENGATI 312
14.4.2 BOTSIFY 312
14.4.3 YELLOW.AI 313
14.4.4 DRIFT 313
14.4.5 CHATFUEL 314
14.4.6 LANDBOT.IO 314
14.4.7 CUSTOMERS.AI 315
14.4.8 BOTSCREW 315
14.4.9 RASA 316
15 ADJACENT AND RELATED MARKETS 317
15.1 INTRODUCTION 317
15.2 NLP MARKET - GLOBAL FORECAST TO 2027 317
15.2.1 MARKET DEFINITION 317
15.2.2 MARKET OVERVIEW 317
15.2.2.1 NLP market, by component 317
TABLE 293 NATURAL LANGUAGE PROCESSING MARKET, BY COMPONENT, 2016–2021 (USD MILLION) 318
TABLE 294 NATURAL LANGUAGE PROCESSING MARKET, BY COMPONENT, 2022–2027 (USD MILLION) 318
15.2.2.2 NLP market, by type 318
TABLE 295 NATURAL LANGUAGE PROCESSING MARKET, BY TYPE, 2016–2021 (USD MILLION) 318
TABLE 296 NATURAL LANGUAGE PROCESSING MARKET, BY TYPE, 2022–2027 (USD MILLION) 319
15.2.2.3 NLP market, by deployment mode 319
TABLE 297 NATURAL LANGUAGE PROCESSING MARKET, BY DEPLOYMENT MODE, 2016–2021 (USD MILLION) 319
TABLE 298 NATURAL LANGUAGE PROCESSING MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION) 319
15.2.2.4 NLP market, by organization size 320
TABLE 299 NATURAL LANGUAGE PROCESSING MARKET, BY ORGANIZATION SIZE, 2016–2021 (USD MILLION) 320
TABLE 300 NATURAL LANGUAGE PROCESSING MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION) 320
15.2.2.5 NLP market, by application 320
TABLE 301 NATURAL LANGUAGE PROCESSING MARKET, BY APPLICATION, 2016–2021 (USD MILLION) 321
TABLE 302 NATURAL LANGUAGE PROCESSING MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 321
15.2.2.6 NLP market, by technology 321
TABLE 303 NATURAL LANGUAGE PROCESSING MARKET, BY TECHNOLOGY, 2016–2021 (USD MILLION) 322
TABLE 304 NATURAL LANGUAGE PROCESSING MARKET, BY TECHNOLOGY, 2022–2027 (USD MILLION) 322
15.2.2.7 NLP market, by vertical 322
TABLE 305 NATURAL LANGUAGE PROCESSING MARKET, BY VERTICAL, 2016–2021 (USD MILLION) 323
TABLE 306 NATURAL LANGUAGE PROCESSING MARKET, BY VERTICAL, 2022–2027 (USD MILLION) 323
15.2.2.8 NLP market, by region 324
TABLE 307 NATURAL LANGUAGE PROCESSING MARKET, BY REGION, 2016–2021 (USD MILLION) 324
TABLE 308 NATURAL LANGUAGE PROCESSING MARKET, BY REGION, 2022–2027 (USD MILLION) 324
15.3 SPEECH ANALYTICS MARKET - GLOBAL FORECAST TO 2027 325
15.3.1 MARKET DEFINITION 325
15.3.2 MARKET OVERVIEW 325
15.3.3 SPEECH ANALYTICS MARKET, BY COMPONENT 325
TABLE 309 SPEECH ANALYTICS MARKET, BY COMPONENT, 2017–2021 (USD MILLION) 326
TABLE 310 SPEECH ANALYTICS MARKET, BY COMPONENT, 2022–2027 (USD MILLION) 326
15.3.4 SPEECH ANALYTICS MARKET, BY BUSINESS FUNCTION 326
TABLE 311 SPEECH ANALYTICS MARKET, BY BUSINESS FUNCTION, 2017–2021 (USD MILLION) 326
TABLE 312 SPEECH ANALYTICS MARKET, BY BUSINESS FUNCTION, 2022–2027 (USD MILLION) 327
15.3.5 SPEECH ANALYTICS MARKET, BY ORGANIZATION SIZE 327
TABLE 313 SPEECH ANALYTICS MARKET, BY ORGANIZATION SIZE, 2017–2021 (USD MILLION) 327
TABLE 314 SPEECH ANALYTICS MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION) 327
15.3.6 SPEECH ANALYTICS MARKET, BY DEPLOYMENT MODE 328
TABLE 315 SPEECH ANALYTICS MARKET, BY DEPLOYMENT MODE, 2017–2021 (USD MILLION) 328
TABLE 316 SPEECH ANALYTICS MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION) 328
15.3.7 SPEECH ANALYTICS MARKET, BY APPLICATION 328
TABLE 317 SPEECH ANALYTICS MARKET, BY APPLICATION, 2017–2021 (USD MILLION) 329
TABLE 318 SPEECH ANALYTICS MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 329
15.3.8 SPEECH ANALYTICS MARKET, BY VERTICAL 329
TABLE 319 SPEECH ANALYTICS MARKET, BY VERTICAL, 2017–2021 (USD MILLION) 330
TABLE 320 SPEECH ANALYTICS MARKET, BY VERTICAL, 2022–2027 (USD MILLION) 330
15.3.9 SPEECH ANALYTICS MARKET, BY REGION 330
TABLE 321 SPEECH ANALYTICS MARKET, BY REGION, 2017–2021 (USD MILLION) 331
TABLE 322 SPEECH ANALYTICS MARKET, BY REGION, 2022–2027 (USD MILLION) 331
16 APPENDIX 332
16.1 DISCUSSION GUIDE 332
16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 339
16.3 CUSTOMIZATION OPTIONS 341
16.4 RELATED REPORTS 341
16.5 AUTHOR DETAILS 342