Conversational AI Market Size By Component: By Key Players, Deployment Type, Applications, Vertical, and Forecast: 2022-2031
A huge number of individuals use Kick, Facebook messenger, and WhatsApp other messaging platforms to talk with their adored ones consistently. Many others are attempting different things with speech-based helps like Google Home and Amazon Alexa. Resultantly, speech-based apps and messaging apps are quickly uprooting customary web and mobile applications to turn into the new mode for interactive discussions.
It talks about the use of electronic messaging apps and chatbots to alter the communication and make customized consumer encounters at scale as conversational AI. Conversational AI applications empower long-running associations with purchasers by means of content or voice utilizing the foremost interactive interface available: traditional language
Market Insights
The global Conversational AI market is expected to be around US$ 20.5 Billion by 2025 at a CAGR of 30% in the given forecast period.
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The global Conversational AI market is segregated on the basis of Component as Platform and Services. Based on Deployment the global Conversational AI market is segmented in Cloud and On-Premises. Based on End-User Industry the global Conversational AI market is segmented in Retail and E-commerce, Healthcare and Life Sciences, BFSI, Travel and Hospitality, Telecom, Media and Entertainment, and Others.
Based on Type, the global Conversational AI market is segmented in Intelligent Virtual Assistants and Chatbots. The report also bifurcates the global Conversational AI market based on Technology in Machine Learning and Deep Learning, Natural Language Processing, and Automated Speech Recognition.
The global Conversational AI market report provides geographic analysis covering regions, such as North America, Europe, Asia-Pacific, and Rest of the World. The Conversational AI market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Rivalry
AWS, IBM, Microsoft Co, Google, SAP, Artificial Solutions, Baidu, Avaamo, Nuance, Conversica, and others are among the major players in the global Conversational AI market. The companies are involved in several growth and expansion strategies to gain a competitive advantage. Industry participants also follow value chain integration with business operations in multiple stages of the value chain.
The Conversational AI Market has been segmented as below:
Conversational AI Market, By Component
Platform
Services
Conversational AI Market, By Deployment
Cloud
On-Premises
Conversational AI Market, By End-User Industry
Retail and E-commerce
Healthcare and Life Sciences
BFSI
Travel and Hospitality
Telecom
Media and Entertainment
Others
Conversational AI Market, By Type
Intelligent Virtual Assistants
Chatbots
Conversational AI Market, By Technology
Machine Learning and Deep Learning
Natural Language Processing
Automated Speech Recognition
Conversational AI Market, By Region
North America
Europe
Asia-Pacific
Rest of the World
Conversational AI Market, By Company
AWS
IBM
Microsoft Co
Google
SAP
Artificial Solutions
Baidu
Avaamo
Nuance
Conversica
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The report covers:
Global Conversational AI market sizes from 2016 to 2025, along with CAGR for 2019-2025
Market size comparison for 2017 vs 2025, with actual data for 2017, estimates for 2018 and forecast from 2019 to 2025
Global Conversational AI market trends, covering comprehensive range of consumer trends & manufacturer trends
Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Conversational AI market
Major market opportunities and challenges in forecast timeframe to be focused
Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
Comprehensive company profiles of the key industry players
Report Scope:
The global Conversational AI market report scope includes detailed study covering underlying factors influencing the industry trends.
The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies.
The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Conversational AI market share. Major industry players with significant revenue share include AWS, IBM, Microsoft Co, Google, SAP, Artificial Solutions, Baidu, Avaamo, Nuance, Conversica, and others.
Reasons to Buy this Report:
Gain detailed insights on the Conversational AI industry trends
Find complete analysis on the market status
Identify the Conversational AI market opportunities and growth segments
Analyze competitive dynamics by evaluating business segments & product portfolios
Facilitate strategy planning and industry dynamics to enhance decision making.
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