Welcome!

News Feed Item

Chatbots Market Growing at a CAGR of 35.2% During 2016 to 2021 - ReportsnReports

PUNE, India, May 19, 2017 /PRNewswire/ --

Chatbots market size grows from $703.3 million to $3,172.0 million, at a CAGR of 35.2% from 2016 to 2021, due to the strong need to understand consumer behavior, adoption of cloud-based technology, and proliferating demand of intelligent customer engagement. Websites segment Have largest market share led by North America region.

Browse 64 tables and 51 figures, 10 Company profiles spread across 155 pages available at:

http://www.reportsnreports.com/reports/1000588-chatbots-market-by-type-software-and-services-usage-websites-contact-centers-social-media-and-mobile-platform-deployment-type-on-premises-and-on-cloud-industry-verticals-healthcare-retail-education-st-to-2021.html .

The smart advisors/chatbots market size is estimated to be USD 703.3 million in 2016 and is projected to reach USD 3,172.0 million by 2021, at a CAGR of 35.2% from 2016 to 2021, due to the strong need to understand consumer behavior, adoption of cloud-based technology, and proliferating demand of intelligent customer engagement. Lack of awareness owing to relatively early presence in tech-adoption life cycle, high deployment cost as well as system integration complexities, and lack of expertise are the major restraining factors of the chatbots market.

The scope of this report covers the smart advisors market analysis by type, services, usage, industry verticals, deployment type, end users, and region. The services segment is expected to grow at the highest CAGR during the forecast period, which supports the implementation of chatbots solutions across various industries.

The websites segment is expected to lead the smart advisors usage market between 2016 and 2021, due to the increasing number of websites of various industries. It is very necessary for business organizations to take care of this concept of emotions on websites to increase their sales and eventually their market share. Hence, a strong need to understand the customer personality is driving the growth of chatbots market.

The mobile platform segment is expected to grow at the highest CAGR during the forecast period due to the increasing mobile users and BYOD. Growing needs of integrated patient engagement for better physician experience, comprehensive patient documentations, medicines, doctor visits and check-ups reminder systems, patient education, Electronic Health Records (EHR), is projected to increase the adoption of smart advisors across healthcare industry, hence the healthcare industry is expected to grow at a faster rate.

On-Cloud deployment type holds the largest chatbots market share and is expected to grow at the highest CAGR during the forecast period. The cloud-based smart advisor solution reduces the up-front costs and eliminates maintenance of the server. Large enterprise is expected to have the largest market share during the forecast period. Customer retention and better revenue generation is leading towards the growth of chatbots technology adoption in the large enterprises.

With regards to the geographic analysis, North America is likely to benefit from its technological advancements, large number of devices, and industries. Asia-Pacific (APAC) is expected to lead the smart advisors market by region between 2016 and 2021. The growth can be attributed to hyper urbanization and industrialization. In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel.

The break-up profile of primary discussion participants is given below: 

  • By Company Type: Tier-1 (42%), Tier-2 (33%), and Tier-3 (25%) companies
  • By Designation: C-level (75%) and Manager Level (25%)
  • By Region: North America (43%), Europe (29%), APAC (18%), and Rest of World (RoW) (10%)

The various key chatbots vendors profiled in the report are as follows: 

  • Artificial Solutions (Sweden)
  • IBM Watson (U.S.)
  • Naunce Communications, Inc. (U.S.)
  • eGain Corporation (U.S.)
  • Creative Virtual Pvt. Ltd. (U.S.)
  • Next IT Corporation (U.S.)
  • CX Company (Netherlands)
  • Speaktoit, Inc. (U.S.)
  • 24/7 Customer, Inc. (U.S.)
  • Codebaby (Idavatars), Inc. (U.S.)

Order a copy of Chatbots Market by Type (Software, and Services), Usage (Websites, Contact Centers, Social Media, and Mobile Platform), Deployment Type (On-Premises, and On-Cloud), Industry Verticals (Healthcare, Retail, Education), End User - Global Forecast to 2021 Research Report At: http://www.reportsnreports.com/purchase.aspx?name=1000588 .

Related Reports: 

Cloud Managed Services Market by Service Type (Managed Infrastructure, Managed Network, Managed Security, Managed Data Center, and Managed Mobility Services), Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2022 .

Text Analytics Market by Component (Software, Services), Application (Customer Experience Management, Marketing Management, Governance, Risk and Compliance Management), Deployment Model, Organization Size, Industry Vertical, Region - Global Forecast to 2022 .

IoT Device Management Market by Solution (Real-Time Streaming Analysis, Security Solutions, Data Management, Remote Monitoring, Network Bandwidth Management), Service, Application Area, Deployment Model, and Organization Size - Global Forecast to 2022 .

Explore more reports on IT & Telecommunication market at:

 http://www.reportsnreports.com/market-research/information-technology/ .

About Us: 

ReportsnReports.com is an online market research reports library of 500,000+ in-depth studies of over 5000 micro markets. Not limited to any one industry, ReportsnReports.com offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food and beverages, water, advanced materials and much more.


Contact:
Ritesh Tiwari
2nd Floor, Metropole Building,
Next to Inox Theatre,
Bund Garden Road, Pune - 411001.
Maharashtra, India.
+1-888-391-5441
[email protected]

Connect with Us: 
LinkedIn: http://www.linkedin.com/company/reportsnreports
RSS/Feeds: http://www.reportsnreports.com/feed/l-latestreports.xml


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
IBM helps FinTechs and financial services companies build and monetize cognitive-enabled financial services apps quickly and at scale. Hosted on IBM Bluemix, IBM’s platform builds in customer insights, regulatory compliance analytics and security to help reduce development time and testing. In his session at 20th Cloud Expo, Tom Eck, Industry Platforms CTO at IBM Cloud, will discuss how these tools simplify the time-consuming tasks of selection, mapping and data integration, allowing developers ...
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs ofte...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
SYS-CON Events announced today that DivvyCloud will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. DivvyCloud software enables organizations to achieve their cloud computing goals by simplifying and automating security, compliance and cost optimization of public and private cloud infrastructure. Using DivvyCloud, customers can leverage programmatic Bots to identify and remediate common cloud problems in rea...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, w...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which in...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
SYS-CON Events announced today that A&I Solutions has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 1999, A&I Solutions is a leading information technology (IT) software and services provider focusing on best-in-class enterprise solutions. By partnering with industry leaders in technology, A&I assures customers high performance levels across all IT environments including: mai...
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.