Conversational AI Market Booming Market to hit $ 27.08 billion by 2026 with Top Key Players Google, Microsoft, Amazon Web Services, Oracle
Global Conversational AI Market is expected to rise from its initial estimated value of USD 3.27 billion in 2018 to an estimated value of USD 27.08 billion by 2026, registering a CAGR of 30.25% in the forecast period of 2019-2026. Conversational AI refers to the use of messaging apps, speech-based assistants and Chabot’s to automate communication and create personalized customer experiences at scale. Conversational AI is the usage of messaging app, Chabot’s and other digital platform so that they can provide platform to the customers where they can interact with virtual assistant and can solve their problem. This also helps the organization to improve by finding new techniques to communicate with the customers.
Some of the leading key players profiled in this study:
Google LLC, Microsoft, Amazon Web Services, Inc., IBM Corporation, Oracle, Nuance Communications, Inc., Baidu, SAP SE, Artificial Solutions, Kore.ai, Inc., Avaamo, Conversica, Inc., Haptik, Inc., Rasa Technologies Inc., Solvvy, Pypestream Inc., Inbenta Technologies Inc., Rulai and Creative Virtual Ltd are few particular key players working in Conversational AI Market.
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The Research is segmented on the basis of:
- By Component, Component are Platform and Services. Services like Training and Consulting, System Integration and Deployment, Support and Maintenance.
- By Type, There are two types Intelligent Virtual Assistants and Chatbots.
- By Technology, There are several technologies like Machine Learning and Deep Learning, Natural Language Processing and Automated Speech Recognition.
- By Deployment Mode, There are two modes Cloud and On- Premises.
- By Application, Few applications are Customer Support, Personal Assistant, Branding and Advertisement, Customer Engagement and Retention, Onboarding and Employee Engagement, Data Privacy and Compliance and Others.
- By Vertical, Vertical are as follows Banking, Financial Services, and Insurance, Retail and Ecommerce, Healthcare and Life Sciences, Travel and Hospitality, Telecom, Media and Entertainment and Others.
- By Geographically, North America, South America, Germany and Middle East and Africa.
The Conversational AI Market research report presents a comprehensive study on production capacity, consumption, import and export for all the major regions across the world. By keeping in mind the end user’s point of view, a team of researchers, forecasters, analysts and industry experts work in-depth to formulate this Conversational AI Market research report. The research and analysis carried out in this Conversational AI Market report assists clients to forecast investment in an emerging market, expansion of market share or success of a new product. To turn complex market insights into simpler version, well established tools and techniques are used for generation of Conversational AI Market report.
Salient attributes used while forming this Conversational AI Market research report include highest level of spirit, practical solutions, committed research and analysis, modernism, integrated approaches, and most up-to-date technology. It is a thorough investigation of current scenario of the global market, which covers several market dynamics. Additionally, businesses can get highly benefited with this information to decide on their production and marketing strategies. For the clear and better understanding of facts and figures, the data is represented in the form of graphs and charts. The Conversational AI Market research report has wide-ranging and comprehensive market insights which are based on business intelligence.