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Chat bot and future marketing concept , chatbot connect icons with hand holding mobile phone and icons popup out smartphone screen.

Global Chatbot Market – Strategic Assessment and Forecast 2017-2022

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Chatbot Market By Type (Rule-based, AI-integrated), By Interface (Web-based, Application-based), By End-user (Banking and insurance, E-commerce, Gaming and entertainment, Healthcare, News and media, Telecom), By Geography (APAC, Europe, Latin America, MEA, North America), By Country (Canada, China, Japan, US) Global Industry Analysis, Market Size, Share, Trends and Growth Forecast 2017-2022

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Product Description

Global Chatbot Market is Likely to Grow at a CAGR of 28% during the Forecast Period 2016–2022

 Chatbot Market – Report Insights

The chatbot revolution often draws a parallel to robotic automation as it is cited to save as much as 25–30% on manpower costs over the next decade. It is also considered as a game changer in the labor market, eliminating the need for secondary activities to emerging economies and warranting the need to invest upon skill upgrading and next generation technologies rather than routine processes. The adoption of chatbot is spearheaded by major social networks and technology companies, including Microsoft, Facebook, Slack, Twitter, and Snapchat who have well identified the potential of chatbot.

Scope of the Report

The report “Global Chatbot Market – Strategic Assessment and Forecast 2017-2022”, considers the present scenario of the global chatbot market and its strategic assessment for the period 2016−2022. It includes a comprehensive study of growth drivers, trends, and restraints. It also analyzes leading five vendors and ten other prominent vendors in the market.

The report provides the analysis of key segments of the market in terms by type,interface, end-user, geography, country, and vendors. It provides a detailed analysis of the revenue from the following segments:

By Type

  • Rule-based
  • AI-integrated

By Interface

  • Web-based
  • Application-based

By End-user

By Geography

  • APAC
  • Europe
  • Latin America
  • MEA
  • North America

By Country

  • Canada
  • China
  • Japan
  • US

 Chatbot Market – Market Size and Dynamics

Analysts at Beige Market Intelligence expect that the global chatbot market is likely to post a CAGR of more than 28% during 2016–2022. The market over the forecast period will be majorly driven by high awareness about the benefits of bots and the rise of innovative test cases for their implementation.  While developed countries are increasingly relying on automation to better mitigate their dependence on developing countries for cheap manpower, developing countries are focusing on upgrading their skillsets for existing jobs. Chatbot is recognized as an ideal tool, facilitating the same as they enable the automation of routine support activities, while allowing the resource to focus on intelligent algorithms incorporating machine learning.

In the end-user segment, the news and media contributes the maximum market revenue to the global market. The adoption of chatbot for this end-user segment is majorly driven by the marginal utility of the customer for live newsfeeds.

Chatbot Market – Trends, Drivers, and Restraints

The report includes a detailed study of emerging trends, factors driving the growth, and expected challenges of the market during the period 2017–2022. The open-source ecosystem driving innovation and adoption and active support from Facebook, Microsoft and Google to drive down development costs are among the latest trends which are likely to drive the global chatbot market in the next five years. In addition, there is a major shift from rule-based to AI-based implementation, which will drive the market. Similarly, progressive growth in natural language processing, increased prominence of messaging applications, and the need for optimization of customer management costs are among the driving factors that are likey to catalyze the market. 

Chatbot Market – Geographical Analysis

The report includes the market analysis of different regions such as North America, Latin America, APAC, MEA, and Europe. It outlines major market shareholders and the market size analysis of all regions.  North America, particularly the US undoubtedly remains to be the most advanced market for the development and hosting of a diverse range of chatbots. APAC, on the other hand, hosts key markets of China and India that collectively host one-third of the world’s population and one-fourth of the world’s internet user base and are key sources of internet traffic. Also, APAC remains as the largest market during the forecast period. As the chatbot markets in US and Europe are mature, in emerging economies there is little presence of paid offerings.

Chatbot Market –Key Vendors and Market Share

The report profiles major companies in the global chatbot market and provides the competitive landscape and market share of the leading players.  It covers the entire market outlook regarding the value chain operating in the market.

  • Anboto Group
  • Creative Virtual
  • eGain Corp.
  • Inbenta
  • Nuance Communications Inc.

Other prominent vendors included in the report are Haptik Inc., Viclone, Astute Solutions, Kasisto Inc., True Image Interactive, CX Company, Next IT Corp., H-Care, Synthetix Ltd., and Helpshift.

 

Why should you buy the report?

The report provides answers to the following questions related to the global chatbot market.

  1. What are the current changes witnessed by the market and how are they likely to impact the market landscape in the coming years?
  2. What are the various factors that can affect the market over the next few years?
  3. What are the major emerging trends and challenges for the market over the next five years?
  4. What is the market size and market forecast for each product segment and end-user type?
  5. Which region is expected to witness the highest market share and what are the factors driving the growth in that region?
  6. What is the sale growth rate in key geographies?
  7. Which are the major countries in terms of market size and market forecast?
  8. Which are the key vendors in the market?
  9. What are the main strategies implemented by the leading vendors to increase growth opportunities?
  10. Which are the key emerging vendors in the market?

Chatbot

Chatbots, which are also known as conversational agents or dialog systems, are computer programs that mimic conversation with people using AI. Currently, chatbots are basically replacing all individual application, and many companies such as Microsoft, Facebook, Apple, Google, WeChat, and Slack are making big bets on chatbots. Also, a new wave of start-ups is emerging to differentiate how customers interact with services providers by building consumer applications, bot platforms, and bot libraries. For instance, Microsoft has recently released its own bot developer framework. Companies are developing chatbots to have natural conversations which are indistinguishable from human ones, using natural language processing and deep learning techniques.

The key objectives of the study are as follows

To provide a detailed analysis of the worldwide chatbot market

To provide a break-down of chatbot market

By Type

By End User

By Interface

By Geographic Segment

By Country

By Vendors

To provide the competitive landscape of the key players operating in this market and how the market will evolve over the forecast period

To provide strategic insights into what is happening in the market and what should happen in the market during the forecast period

To provide key insights into the various factors that are aiding as well as adversely affecting the market and how this scenario will change during the forecast period

The scope of the study is as follows

The report provides the optimistic and pessimistic scenarios for chatbot market.

the study considers the revenue generated by various data center vendors by geographic segments and key countries market share analysis:

  • APAC
  • Europe
  • Latin America
  • MEA
  • North America

Timeline of the study is as follows

Base Year:               2016                      (Actual figures)

Forecast Period:     2017-2022           (Forecasted figures)

Why should you buy this study?

The study will tell the reader how the market has been performing over the last few years and how it is expected to perform over the next five years. Detailed analysis of the performance of the market is provided thereby providing the reader with key insights into what is taking place and how the market is being affected, both positively and adversely. Individuals who are interested in knowing which are the key companies involved in the market should purchase this report.

In short, the study will provide a holistic view of the chatbot Market, which are the companies that are involved in the market and what are the factors that contribute to this market. The report will also provide information on what are some of the trends that have started to surface and are expected to be a strong driving force in the market over the next five years.

Contents
Section 1              Research Methodology
 
Section 2              Executive Summary
 
Section 3              Report Coverage
3.1          Report Assumption
3.2          Scope of the Report
3.3          Currency Exchange Rates
3.4          Market Derivation
3.5          Key Definitions
 
Section 4              Introduction
 
Section 5              Key Market Trends
5.1          Open-source Ecosystem Driving Innovation and Adoption
5.2          Active Support from Facebook, Microsoft, and Google Reducing Development Costs
5.3          Major Shift from Rule-based to AI-based Implementation
5.4          Conversational Interfaces to Dominate with Higher Engagement Rates
 
Section 6              Key Market Drivers
6.1          Need for Optimization of Customer Management Costs
6.2          Progressive Growth in Natural Language Processing
6.3          Application Fatigue and Higher Development Costs
6.4          Increased Prominence of Messaging Applications
 
Section 7              Key Market Challenges
7.1          Lack of Viable Pricing Model
7.2          Implementation Limitations for Sensitive End-users
7.3          Spamming and Data Privacy Concerns
 
Section 8              Global Chatbot Market
 
Section 9              Chatbot Market by End-user
9.1          Segmental Overview
9.2          News and Media: Market Size and Analysis
9.3          E-commerce: Market Size and Analysis
9.4          Banking and Insurance: Market Size and Analysis
9.5          Healthcare: Market Size and Analysis
9.6          Gaming and Entertainment: Market Size and Analysis
9.7          Telecom: Market Size and Analysis
9.8          Other Chatbot Applications: Market Size and Analysis
 
Section 10           Chatbot Market by Type
10.1        Segmental Overview
10.2        Rule-based Chatbots: Market Size and Analysis
10.3        AI-integrated Chatbots: Market Size and Analysis
 
Section 11           Chatbot Market by Interface
11.1        Segmental Overview
11.2        Web-based Chatbots: Market Size and Analysis
11.3        Application-based Chatbot: Market Size and Analysis
 
Section 12           Segmentation by Geography
12.1        Geographical Overview of Chatbot Market
 
Section 13           Chatbot Market in APAC
13.1        Market Size and Analysis
13.2        China Chatbot Market: Market Size and Analysis
13.3        Japan Chatbot Market: Market Size and Analysis
13.4        Market Size and Analysis in Other APAC Countries
 
Section 14           Chatbot Market in Europe
14.1        Market Size and Analysis
 
Section 15           Chatbot Market in MEA
15.1        Middle East: Market Size and Analysis
15.2        Africa: Market Size and Analysis
 
Section 16           Chatbot Market in North America
16.1        Market Size and Analysis
16.2        US Chatbot Market: Market Size and Analysis
16.3        Canada Chatbot Market: Market Size and Analysis
 
Section 17           Chatbot Market in Latin America
17.1        Market Size and Analysis
 
Section 18           Competitive Landscape
18.1        Porter’s Five Forces Model
18.1.1    Threat of New Entrants
18.1.2    Bargaining Power of Suppliers
18.1.3    Bargaining Power of Buyers
18.1.4    Threat of Substitutes
18.1.5    Competitive Rivalry
18.2        Market Structure and Mapping of Competition
18.3        Overview of Competition
 
Section 19           Key Vendor Analysis
19.1        Anboto Group
19.2        Creative Virtual
19.3        eGain Corp.
19.4        Inbenta
19.5        Nuance Communications
Section 20           Other Prominent Vendors
20.1        Haptik Inc.
20.2        Viclone
20.3        Astute Solutions
20.4        Kasisto Inc.
20.5        True Image Interactive
20.6        CX Company
20.7        Next IT Corp.
20.8        H-Care
20.9        Synthetix
20.10     Helpshift
 
Section 21           Appendix
 
Section 22           Summary of Figures
22.1        Key Revenue Figures of Global Chatbot Market for Different Geographies
22.2        Key Revenue Figures of Global Chatbot Market for Different End-users
22.3        Key Revenue Figures of Global Chatbot Market for Different Types
22.4        Key Revenue Figures of Global Chatbot Market for Different Interfaces
22.5        Key Revenue Figures of Global Chatbot Market for Different Hosted Platforms
 
 
 
 
Exhibits
Exhibit 1               Segmentation of Global Chatbot Market
Exhibit 2               Average Annual Savings by End-user Industry due to Automation in US 2017–2022 ($ billion)        
Exhibit 3               Tentative Project Estimates for Development of iOS and Android Applications ($)               
Exhibit 4               Number of Monthly Active Users on Various Messaging Applications Worldwide as of January 2017 (million)              
Exhibit 5               Number of Active Users on Various Social Network Sites Worldwide as of April 2017 (in million)  
Exhibit 6               EFF Secure Messaging Scorecard              
Exhibit 7               Global Chatbot Market by Revenue 2016−2022 ($ million)
Exhibit 8               Segmentation of Chatbot Market by End-user    
Exhibit 9               Comparison of Revenue Growth Rates in Chatbot Market by End-users 2017–2022
Exhibit 10             Revenue of News and Media Segment in Chatbot Market 2016−2022 ($ million) 
Exhibit 11             Percentage of US Adults Receiving News Through Online Platforms (2016)             
Exhibit 12             Revenue of E-commerce Segment in Chatbot Market 2016−2022 ($ million)         
Exhibit 13             Adoption Rate and Market Share of Various End-users in E-commerce Segment 
Exhibit 14             Revenue of Banking and Insurance Segment in Chatbot Market 2016−2022 ($ million)      
Exhibit 15             Savings Offered Under Key Expenditure Heads by Chatbots in Banking and Insurance Industry 2016               
Exhibit 16             Revenues of Healthcare Segment in Chatbot Market 2016−2022 ($ million)           
Exhibit 17             Scope of Bot-implementation in Healthcare Technology 2016 (% of Segmental Revenues)             
Exhibit 18             Revenue of Gaming and Entertainment Segment in Chatbot Market 2016−2022 ($ million)            
Exhibit 19             Scope of Bot-implementation in Telecom Industry 2016 (% of Segmental Revenues)
Exhibit 20             Revenue of Telecom Segment in Chatbot Market 2016−2022 ($ million)  
Exhibit 21             Revenue of Other Applications in Chatbot Market 2016−2022 ($ million)
Exhibit 22             Segmentation of Chatbot Market by Type            
Exhibit 23             Comparison of Revenue Growth Rates in Chatbot Market by Type 2017–2022       
Exhibit 24             Rule-based Chatbot Market by Revenue 2016−2022 ($ million)   
Exhibit 25             AI-integrated Chatbot Market by Revenue 2016−2022 ($ million)               
Exhibit 26             Segmentation of Chatbot Market by Interface    
Exhibit 27             Comparison of Revenue Growth Rates in Chatbot Market by Interface 2017–2022
Exhibit 28             Web-based Chatbot Market by Revenue 2016−2022 ($ million)   
Exhibit 29             Application-based Chatbot Market by Revenue 2016−2022 ($ million)     
Exhibit 30             Segmentation of Chatbot Market by Geography
Exhibit 31             Comparison of Revenue Growth Rates in Chatbot Market by Geography 2017–2022
Exhibit 32             Revenue of Chatbot Market in APAC 2016−2022 ($ million)          
Exhibit 33             Chatbot Market in China by Revenue 2016−2022 ($ million)         
Exhibit 34             Chatbot Market in Japan by Revenue 2016−2022 ($ million)         
Exhibit 35             Major Drivers for Adoption of Chatbot in Other APAC Countries 
Exhibit 36             Adoption of Chatbots in Europe by End-users 2016 ($ million)     
Exhibit 37             Chatbot Market in Europe by Revenue 2016−2022 ($ million)      
Exhibit 38             Chatbot Market in MEA by Revenue 2016−2022 ($ million)           
Exhibit 39             Segmentation of Chatbot Market in MEA by End-user 2016 ($ million)     
Exhibit 40             Internet Penetration in Key African Countries 2017           
Exhibit 41             Chatbot Market in North America by Revenue 2016−2022 ($ million)       
Exhibit 42             Key Focus Areas in Facebook’s F8 Conference 2017          
Exhibit 43             Chatbot Market in US by Revenue 2016−2022 ($ million)               
Exhibit 44             Adoption of Chatbots in US by End-user 2016 ($ million)
Exhibit 45             Major Drivers and Restraints for Chatbot Proliferation in US        
Exhibit 46             Chatbot Market in Canada by Revenue 2016−2022 ($ million)      
Exhibit 47             Chatbot Market in Canada by End-user 2016 (Revenues)
Exhibit 48             Chatbot Market in Latin America by Revenue 2016−2022 ($ million)         
Exhibit 49             Comparison of Consumer Landscape in Latin America 2015           
Exhibit 50             Internet Penetration in Latin America 2016 (% of population)      
Exhibit 51             Overview of Market Concentration in Various Geographies 2016 (as illustrated by HHI)
Exhibit 52             Market maturity in terms of Awareness rate and Adoption rate (as % of number of Chatbot customers polled) 
Exhibit 53             Size of Global Chatbot Market and Growth Rate for Geographies (2016–2022)     
Exhibit 54             Size of Global Chatbot Market and Growth Rate for Different End-users (2016–2022)
Exhibit 55             Size of Global Chatbot Market and Growth Rate for Different Types (2016–2022)
Exhibit 56             Size of Global Chatbot Market and Growth Rate for Different Interfaces (2016–2022)
Exhibit 57             Size of Global Chatbot Market and Growth Rate for Different Hosted Platforms (2016–2022)         





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