Technavio has been monitoring the chatbot market and it is poised to grow by USD 1.11 bn during 2020-2024, progressing at a CAGR of almost 29% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Chatbot Market 2020-2024 (Graphic: Business Wire)
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Request for Technavio’s latest reports on directly and indirectly impacted markets. Market estimates include pre- and post-COVID-19 impact on the Chatbot Market Download free sample report
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The advantages of chatbots have been instrumental in driving the growth of the market.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/report/chatbot-market-industry-analysis
Chatbot Market 2020-2024: Segmentation
Chatbot Market is segmented as below:
- Travel and Hospitality
- North America
- South America
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Chatbot Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The chatbot market report covers the following areas:
- Chatbot Market Size
- Chatbot Market Trends
- Chatbot Market Industry Analysis
This study identifies increased demand for web self-service as one of the prime reasons driving the chatbot market growth during the next few years.
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Chatbot Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist chatbot market growth during the next five years
- Estimation of the chatbot market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the chatbot market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of chatbot market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user placement
- Retail – Market size and forecast 2019-2024
- BFSI – Market size and forecast 2019-2024
- Travel and hospitality – Market size and forecast 2019-2024
- Government – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- 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.
- Nuance Communications Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.