The global chatbot market is expected to register an incremental growth of USD 1.11 billion, witnessing a CAGR of almost 29% during 2020-2024, according to latest market research analysis by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the chatbot market in optimistic, probable, and pessimistic forecast scenarios.
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Technavio has announced its latest market research report titled Global Chatbot Market 2020-2024 (Graphic: Business Wire)
Get a detailed Insights Highlights on COVID-19 pandemic Crisis and Recovery analysis of Chatbot market. Download free report sample
Amid the COVID-19 Crisis, the Revaluated and Updated Chatbot Market Report Says:
- The chatbot market will witness a Neutral and At par impact during the forecast period owing to the extensive rise of COVID-19 pandemic.
- Due to the extensive spread of the virus across the globe, the Information Technology industry is anticipated to have Mixed and Direct impact
- Furthermore, as per Technavio’s pandemic-focused research highlights, the market demand will show At Par growth due to the increase in infections and reduced economic activity.
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Chatbot Market Segmentation and Competitive Analysis
Chatbot market is segmented by end-user (retail, BFSI, travel and hospitality, government, and others) and geography (APAC, Europe, MEA, North America, and South America). Integration of chatbots for better turnaround time has been an instrumental factor in influencing the growth of Chatbot market. Other market drivers include advantages of chatbots over other customer support options and increased demand for web self-service.
The market is fragmented. The report analyzes the market’s competitive landscape and offers information on several market vendors, including Alphabet Inc., Amazon.com Inc., Anboto Europe SL Co., Apple Inc., Creative Virtual Ltd., eGain Corp., Inbenta Technologies Inc., International Business Machines Corp., Microsoft Corp., and Nuance Communications Inc. Moreover, Technavio offers custom research analysis on the crucial pointers to highlight the impact of COVID-19 on the market across the supply chain.
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Reasons to Buy the Report:
- Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
- The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers.
- The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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- Market segmentation
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