Software segment holds the largest market share in 2018 and is expected grow at the highest CAGR during the forecast period due to integration of next-generation technology in chatbot solution

Global Chatbot Market Share, Trends, Industry Report (2019-2026)

The keyfactors bolstering the growth of GlobalChatbot Market are technological advancement in AI, natural languageprocess, machine learning coupled with reduction in chatbot development cost.Increase in penetration of website, smartphone users and need to understandcustomer behaviour will aid the growth of chatbot market during forecastperiod. Moreover, increasing adoption of cloud-based technology such as IoT isexpected to fuel the chatbot market growth during forecast period.

Healthcare segment holds thelargest market share in 2018 as health services become service centric,hospitals are increasingly implementing chatbot due to smartphone utilizationalong with rising adoption of healthcare application, telehealth and othersimilar technologies which are contributing the growth of chatbot in healthcareindustry. In addition, chatbots are providing features like ongoing healthmonitoring, providing fast information, scheduling appointment etc.

However, retail segment willgrow at fastest CAGR during the forecast period, primarily due to chatbot 24/7service availability which increases customer engagement, customer satisfactionby enhance customer experience which in turn improving revenue margin alongwith ongoing trend of integrating chatbots with messaging apps are driving themarket growth.

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Based on region, ACPC is predicted to have thehighest growth rate in the market during 2019-2026

NorthAmerica held the largest share of the market in 2018 due to presence ofwell-established ICT infrastructure and increase in acceptance of chatbotacross sector like BFSI and retail. Asia-Pacific is projected to grow at thefastest CAGR of 25.0% during 2019-2026 due to large number of small and mediumsize enterprises using chatbots to enhance customer experience together withlarge number of smartphone user.

Theresearch report “Global Chatbot Market” providesin-depth analysis of chatbot market, globally, based on deployment type,component, verticals and major geographies for the forecast period from 2019 to2026. The report highlights the major market drivers fuelling the growth aswell as challenges faced by the market participants. The research reportprovides market size and forecast for chatbot market. The report also analysesthe competitive landscape, major players and their strategies in 2018. Thecompetitive landscape section of the report captures and highlights the recentdevelopments in the market.

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Key questions answered in this research report:

·        Atwhat pace is chatbot market growing, globally? What will be the growth trend infuture?

·        Whatare the key drivers and restraints in the current market? What will be theimpact of drivers and restraints over the coming years?

·        Whatare the regional chatbot market revenue and forecast breakdowns? Which are themajor regional revenue pockets for growth in the chatbot market?

·        Whatare the various application areas and how they are poised to grow?

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