The Global AI Based Chatbots Market 2021 by Regions, Type, and Application, forecast to 2027 research report is a comprehensive, methodical, and all-encompassing examination of the industry. The study's goal is to help key vendors, organisations, and end-users in the industry better grasp the benefits and complete features of market segments. It examines market dynamics and gives an overview to aid in the definition, categorization, and statistical analysis of markets. The present condition of the worldwide AI Based Chatbots market, as well as its future prospects.
In accordance with the AI Based Chatbots market is set to grow at a CAGR of 23.62% over the forecast period (2021-2027).
The report's authors used a unique and industry-leading research and analysis technique to conduct an in-depth analysis of the worldwide AI Based Chatbots market. From 2021 through 2027, this study anticipates demand, trends, and revenue growth at regional and country levels, as well as an examination of industry trends in each of the sub-segments.
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In the worldwide market, there are a number of important and rising AI Based Chatbots market Key players:
Amazon (US), Dialogflow (Google) (US), Bold360 AI (US), Chatfuel (US), Botsify (Germany), IBM Corporation (US), eGain Corporation (U.K.), Nuance Communications (US), Creative Virtual Ltd. (US), Artificial Solutions Inc. (US)
April 2020 - IBM, with its Watson Assistant chatbots, helped government agencies, healthcare organizations, and academic institutions throughout the world to use AI to put critical data and information into the hands of their citizens.
February 2020 - Creative Virtual had a partnership with Spitch AG, the leading developer of enterprise speech solutions in Switzerland. The collaboration may utilize the best-of-breed technologies of both companies to provide their customers with innovative self-service solutions. The integration of Creative Virtual’s V-Person natural language chatbots and Spitch's voice technology brings an industry-leading voice bot offering to the market.
Asia-Pacific to Witness the Highest Growth
In the Asia-Pacific region, there are numerous startups investing in chatbots and machine learning technology. Additionally, small- and mid-sized enterprises are rapidly integrating the usage of chatbots in their customer service process, which offers seamless performance, handling many consumers, and enhancing the customer-engagement techniques. In July 2019, Floatbot created an artificial intelligence (AI) chatbot for Andhra Bank for its core banking servers to support its 50 million customers. It is designed to provide digital engagement and automated customer support that went through a rigorous testing process involving more than 50,000 queries.
Market segment by Type, covers:
The global AI-enabled chatbots market will reach $4.6B USD by 2026. Hybrid voice and text chatbots market will reach $682M USD globally by 2026. The use of conversational AI will revolutionize customer relationship management. The global market for conversational AI in telemarketing will reach $201.3M USD by 2026.
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This research report focuses on AI Based Chatbots market volume and value at regional Opportunity and company Trends From a global perspective, this report Study represents overall market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: Americas, Europe, Asia-Pacific, Middle East & Africa and ROW.
Europe would enjoy the second spot where several factors like automation and better technical inclusion and Scope. The Asia Pacific region has better prospect in growing with a high CAGR in the coming years as the regional market would witness several changes in the infrastructure.
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Table of Contents: AI Based Chatbots Market
Impact of COVID-19:
The COVID-19 epidemic has impacted markets and customer behaviour in a short period of time, and it is having a significant influence on economies and society. With offices, educational institutions, and manufacturing facilities closed indefinitely, big sports and events postponed, and work-from-home and social distance rules in place, businesses are increasingly seeking technology to assist them to get through these trying times. The COVID-19 epidemic is wreaking havoc on companies all around the world.
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