Global Chatbot Market By Type Overview
Introduction:
Chatbots are primarily used in business-to-consumer (B2C) and business-to-business (B2B) environments where chatbot virtual assistants are used to handle simple tasks. Chatbots are software applications that use artificial intelligence and natural language processing to understand human needs and guide them to a desired outcome with as little work as possible by the end user. A chatbot is also used in conduct online chat conversations by simulating text or text-to-speech conversion. It helps in natural language conversation with the user through messaging applications, websites and mobile apps and telephone. A chatbot is a computer programming system that communicates with an operator using generalized forms of the most common sentences. Chatbots is include many messaging services. A large number of chatbots use Natural Language Processing (NLP) systems to facilitate conversation with the user. Chatbots developed for integration with messaging applications are expected to see significant demand in the future. Moreover, chatbots are gaining popularity as businesses automate their sales and customer service. The use of chatbots enables organizations to provide timely services at lower costs. Chatbot Market size accounted for US$ 6.8 billion in 2024 and is estimated to be 68.5 billion in 2034 with a CAGR of 26%
Global Chatbot Market By Type Dynamics
Increasing digital transformation & increasing adoption of smartphone
Growing trend of enterprises towards increasing consumer expertise, decreasing operating costs and operational efficiency, and increasing digital transformation are the major factors driving the growth of the global market. Increasing adoption of smartphone users is expected to fuel the growth of the chatbot market. According to the National Health Authority of India, a government agency in India, India had 1.18 billion mobile connections, 600 million smartphones and 700 million internet users in 2021, a quarter-on-quarter growth of 25 million. Hence, the increasing adoption of smartphone users is driving the growth of the chatbot market. The restraining factors of the chatbot market are lack of awareness and heavy dependence on humans for customer relations. Lack of awareness and other challenges such as complex management of chatbots may hamper the market growth, which will ultimately hamper the chatbot market.
Technological advancement
Incorporation of improved technical features in chatbot software such as natural language processor, intervention engine, cloud-based deployment application programming interface and multichannel is expected to provide lucrative opportunities for the market. Moreover, the demand for artificial intelligence and audio speech-based chatbots is expected to increase in the coming years. Various innovations in artificial intelligence and machine learning technologies are expected to increase the features of chatbots. This is expected to increase the market in the coming years. Technologies like artificial intelligence, IoT and APIs are evolving rapidly. Chatbots are integrated with these technologies to offer enhanced operations, which will drive market demand. Artificial intelligence and audio speech-based chatbots are expected to hold the largest market share in the future.
Global Chatbot Market By Type Segmentation
Source: Prophecy Market Insights
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The Chatbot Market is segmented based on type, usage, industry vertical, deployment type, end user and region.
On the basis of type, chatbot market has been segmented into Software, Services, Professional Services and Managed Services. Based on usage, segments of the chatbot market are Websites, Contact Centers, Social Media and Mobile Platform. In terms of industry vertical, segments of the chatbot market are financial services, healthcare, communication, retail, travel and hospitality, government and education, and utilities. On the basis of deployment type, segments of the chatbot market are On-premises and On-cloud. Based on end-user, segments of the chatbot market divided into Small and medium enterprises, and large enterprises. Among end user, many large enterprises develop their chatbots with specific rules; however, large enterprises are expected to optimize their chatbots in the future to achieve sophisticated operations. The large industry segment is expected to maintain its lead over the forecast period due to the extensive use of chatbots in these activities the medium industry segment is expected to expand at the highest CAGR during the forecast period.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the Chatbot Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the dominant region for the chatbot market over the forecast period. The growth in this region is mainly owing to the increasing deployment of chatbots in various business verticals and technologies such as artificial intelligence, APIs, are evolving at a rapid speed. Chatbots are involved with these technologies to offer enhanced operations, thereby driving market demand.
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Attribute |
Details |
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Base year for estimation |
2023 |
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Forecast period |
2024 – 2034 |
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Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
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Market Segmentation |
By Type - Software, Services, Professional services and Managed services By Usage - Websites, Contact Centers, Social Media and Mobile Platform By Industry Vertical - Financial services, Healthcare, Communication, Retail, Travel and hospitality, Government and Education, and Utilities By Deployment Type - On-premises and On-cloud By End-User - Small and medium enterprises and Large enterprises |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Chatbot Market report based on type, usage, industry vertical, deployment type, end user and region:
Chatbot Market, By Type:
- Software
- Services
- Professional services
- Managed services
Chatbot Market, By Usage:
- Websites
- Contact Centers
- Social Media
- Mobile Platform
Chatbot Market, By Industry Vertical:
- Financial services
- Healthcare
- Communication
- Retail
- Travel and hospitality
- Government and Education
- Utilities
Chatbot Market, By Deployment Type:
- On-premises
- On-cloud
Chatbot Market, By End User:
- Small and medium enterprises
- Large enterprises
Chatbot Market, By Region:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
Global Chatbot Market By Type Key Players
The key players operating the Chatbot Market includes Artificial Solutions, Nuance Communications, Inc., eGain Corporation, Creative Virtual Ltd., Next IT Corp., 24/7 Customer Inc., Codebaby (Idavatars), Inc., Anboto, Inbenta Technologies Inc., and Aivo. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, In March 2022, Microsoft finalizes its acquisition of Nuance Communications, Although Nuance is best known for its work in the healthcare vertical, it also has a presence in many of the top verticals targeted by Microsoft, including financial services, retail and telecommunications. Microsoft plans to use Nuance's technology to create more "vertically optimized AI" solutions.
Global Chatbot Market By Type Company Profile
- Artificial Solutions*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Nuance Communications, Inc.
- eGain Corporation
- Creative Virtual Ltd.
- Next IT Corp.
- 24/7 Customer Inc.
- Codebaby (Idavatars), Inc.
- Anboto
- Inbenta Technologies Inc.
- Aivo
Global Chatbot Market By Type Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Industry Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for ChatBot Market Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Usage
- Market Snippet, By Industry Vertical
- Market Snippet, By Deployment Type
- Market Snippet, By End User
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- ChatBot Market, By Type, 2024 – 2034, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Segment Trends
- Software
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Services
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Professional Services
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Managed Services
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Overview
- ChatBot Market, By Usage, 2024 – 2034, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Segment Trends
- Websites
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Contact Centers
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Social Media
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Mobile Platform
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Overview
- ChatBot Market, By Industry Vertical, 2024 – 2034, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Segment Trends
- Financial services
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Healthcare
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Communication
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Retail
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Travel and hospitality
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Government and Education
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Utilities
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Overview
- ChatBot Market, By Deployment Type, 2024 – 2034, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Segment Trends
- Cloud
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- On-Premises
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Overview
- ChatBot Market, By End User, 2024 – 2034, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Segment Trends
- Small and medium enterprises
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Large enterprises
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Overview
- Global Surgical Stapler Market, By Region, 2024 – 2034, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Usage, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Industry Vertical, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Deployment Type, 2024 – 2034
- Market Size and Forecast (US$ Bn), By End User, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Region, 2024 – 2034
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Usage, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Industry Vertical, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Deployment Type, 2024 – 2034
- Market Size and Forecast (US$ Bn), By End User, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Region, 2024 – 2034
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Usage, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Industry Vertical, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Deployment Type, 2024 – 2034
- Market Size and Forecast (US$ Bn), By End User, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Region, 2024 – 2034
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Usage, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Industry Vertical, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Deployment Type, 2024 – 2034
- Market Size and Forecast (US$ Bn), By End User, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Region, 2024 – 2034
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Usage, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Industry Vertical, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Deployment Type, 2024 – 2034
- Market Size and Forecast (US$ Bn), By End User, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Region, 2024 – 2034
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
-
- Artificial Solutions
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Tragedy
- Nuance Communications, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Tragedy
- eGain Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Tragedy
- Creative Virtual Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Tragedy
- Next IT Corp.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Tragedy
- 24/7 Customer Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Tragedy
- Codebaby (Idavatars), Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Tragedy
- Anboto
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Tragedy
- Inbenta Technologies Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Tragedy
- Aivo
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Tragedy
- Artificial Solutions
-
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Chatbot Market report segments the market on the basis segmented based on service type, and sector.
The increasing tendency of enterprises towards rising customer skill along with falling operational costs and working effectiveness and growing digital transformation are major factors responsible for driving growth of the global market.
North America is the dominant region for the chatbot market over the forecast period.
The leading players operating in the Chatbot Market includes Artificial Solutions, Nuance Communications, Inc., eGain Corporation, Creative Virtual Ltd., Next IT Corp., 24/7 Customer Inc., Codebaby (Idavatars), Inc., Anboto, Inbenta Technologies Inc., and Aivo.