The Chatbot market is projected to witness a significant growth attributed to rise in penetration of various websites and mobile applications, surge in demand of automated patient management tools in the healthcare industry, proliferating demand of intelligent customer engagement and rise in the cloud based technology during the forecast period. This market report comprises of high understanding on the propelling factors of the market along with highlights of the key players in the market and their recent major strategies.
Chatbot market based on the type is segmented into software and services. On the basis of usage, the market has been bifurcated into websites, contact centers, social media and mobile platform. Industry vertical has been widely segmented into financial services, healthcare, communication, retail, travel & hospitality, government, education, utilities and others. deployment type is basically divided into on-premises and on-cloud. On-cloud deployment has the largest market share and is anticipated to continue the dominance over the forecast period. End-user segment has been categorized into small & medium enterprises.
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Vast developments in the field of artificial intelligence in the past few years have significantly benefitted the level of maturity that chatbots have witnessed from being simple answer machines with scripted responses to the present day chatbots that are smart enough to effectively engage potential consumers. Businesses are also increasingly using chatbots in highly interesting ways demonstrating the larger spectrum of capacities and capabilities of chatbots.
· IBM Corporation.
· CX Company.
· Nuance Communications Inc.
· Artificial Solutions.
· Egain Corporation.
· Creative Virtual Pvt. Ltd.
· Next IT Corporation..
· Speaktoit, Inc.
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On the basis of geography analysis, the adoption rate of chatbot solutions across APAC is projected to rise at a substantial rate due to the rising advancement in the technology and industries. These factors would lead to the market awareness about the business value and return on investment, which can be understood on long run.
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