Market Overview

The global Chatbot market expected to reach $XX billion by 2026, at a CAGR of over 14% during the forecast period. Mainly due to the rise in the adoption of technologies such as AI and NLP, which have made the chatbots more intelligent to interact with humans easily and providing enhanced customer services.

Chatbot Market

**Source: DataM Intelligence Analysis (2019)

A bot is simply a computer program that automates certain tasks. In the case of a chatbot, the task being automated is a 1:1 conversation with a person. These bots can use sophisticated technology like artificial intelligence and natural-language processing. Alternatively, they can be as simple as a series of IF-THEN statements. Alexa is a type of chatbot. So is the Domino’s Pizza app. Today’s chatbots reply with text, yes, and also with audio, video, images, GIFs, you name it. Even the mediums for chatbots have grown exponentially — you’ve likely experienced bots in chat apps like Messenger and WhatsApp as well as on many, many websites with the little button in the corner asking if you need any help.

 

The report covers all the major trends and drivers playing a vital role in the growth of the global Chatbot market. The global Chatbot market has been segmented based on region, Type, Deployment, and End-User.

Global Chatbot Market Value (USD Mn), 2018-2026

**Source: DataM Intelligence Analysis (2019)

Market Dynamics

The global Chatbot market growth is primarily driven by technological advances in AI and NLP. Advanced NLP and AI have made the chatbots much more advance then earlier and are solving business problems by providing better customer services by being available 24*7, also by giving quick solutions to the customers. Moreover, the businesses are adopting is quickly to enhance customer experience and engage a large number of customers cost-effectively. Also, 25%-30% customer service costs can be reduced by organizations by implementing conversational solutions like virtual agents and chatbots.

 

Moreover, with the rise in investment by the various governments in the adoption of the chatbots will also boost the market for the forecast period. For instance, in India, the Government of Maharashtra has partnered with conversation AI platform Haptik to develop a chatbot as part of its Aaple Sarkar platform. The bot, which is available on the AapleSarker RTS (Right to Services) website, will provide conversational access to information regarding 1,400 services managed by the state government. The Right to Services Act of 2015 mandates that citizens should be able to access information regarding public services through digital platforms. The new chatbot will be another medium through which citizens can get their queries resolved.

 

However, factors such as the high initial cost, lack of awareness, and integration complexities might hamper the growth of the chatbot market over the forecast period.

 

Market Segmentation

By Deployment, the global Chatbot market segmented into Cloud and On-premise. In 2018, On-premise deployment segment dominated the global market and was expected to retain its dominance over the forecasted period. This is mainly due to the adaptation of this technology by the bigger organization which concerns about engaging large customer base and also serving customers 24*7 all 365 day to provide better services. However, Cloud-based deployment segment is also gaining market share due to the increasing demand chatbots implementation by the SME because of cost-effective and time-effective solutions. It is expected that On-premise market will grow at a CAGR of ~XX% during the forecast period.

Global Chatbot Market , By Deployment, 2018 (% Share)

**Source: DataM Intelligence Analysis (2019)

By End-user industry, the global Chatbot market segmented into Healthcare, Retail, BFSI, Travel & Tourism, E-commerce, and Others. The retail segment has a dominant share in the end-user segment and is expected to retain its dominance in the forecast period. However, the rise in the e-commerce business due to the rise in internet penetration all around the world is engaging large customers by implementing chatbots. For instance, Argomall is an eCommerce store based in the Philippines selling consumer goods. Their bot enables customers to find out key information about Argomall (including delivery details) as well as ask questions and talk to an Argomall support agent. Moreover, Chatbots have become an important sales and customer service tool for the company and helping organizations to generate 23x increase in ROI (vs the cost of running the bot on Chatfuel) first few months after its launch.

 

Regional Analysis

By geography, the global Chatbot market segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).

 

North America holds the largest market share for chatbot Market. The adoption of new technologies is high among the organizations in the region; investments for technological development have increased in the last five years. The rising BFSI sector in North America is adopting the chatbots to service their customer quick and are available for help 24*7 all 365 days. For instance, as a market leader in both mobile banking use and AI implementations in the U.S., Bank of America introduced Erica, (from the word AmEricaa) to send notifications to customers, provide balance information, suggest how to save money, provide credit report updates, pay bills and help customers with simple transactions. Since the introduction, the capabilities of Erica have expanded as an advanced virtual assistant to help clients make smarter decisions.

 

APAC is after North America in terms of market share for the chatbot, due to rise in the economies in the APAC countries such as China, India, Korea. With the rising economies, the greater number of mid and small-sized enterprises are growing which are investing in chatbots as it will enable the companies to engage large number of customers. Also, there is a huge investment made for the development of chatbots in APAC. For instance, Rulai launches ‘low-code’ chatbot development tool and raises $6.5 million.The development team at Rulai, with offices in Beijing and Campbell, Calif., is helmed by the renowned University of California, Santa Cruz, computer science professor Yi Zhang.

Global Chatbot Market, by Region, 2018 (% share)

**Source: DataM Intelligence Analysis (2019)

Competitive Analysis

Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Chatbot Market is a fragmented market with the presence of various global and regional players in the market. The major players include Anboto, Creative Virtual, eGain, Inbenta Technologies, and Nuance Communications. Other key players in the market include IBM Corporation, Artificial Solutions Inc., Next IT Corp, [24]7.ai, Inc., and Chatfuel.

 

In August 2019, Gatwick Airport has launched a chatbot on Facebook Messenger that can provide flight updates and information on its retail and food outlets.

 

In July 2019, HireXP launches conversational chatbot Amara in India. Amara can be integrated with the company’s internal systems and can be launched across multiple channels like WhatsApp, Slack, trello, SMS and many more.

Compitative Land scape

**Source: DataM Intelligence Analysis (2019)

 

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  • Highlights of the competitive landscape.

 

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**The global Chatbot market report would provide access to an approx., 61 market data table, 53 figures, and 200 pages.

  1. Chatbot Market Methodology and Scope

    1. Research Methodology
    2. Research Objective and Scope of the Report
  2. Chatbot Market– Market Definition and Overview

  3. Chatbot Market– Executive Summary

    1. Market Snippet by Type
    2. Market Snippet by Deployment
    3. Market Snippet by End-User
    4. Market Snippet by Region
  4. Chatbot Market Dynamics

    1. Market Impacting Factors
      1. Drivers
        1. Rise of the technology AI and Natural language processing
      2. Restraints
        1. High Initial cost&Lack of Awareness and Integration Complexities
    2. Impact Analysis
    3. Opportunities
  5. Chatbot Market– Industry Analysis

    1. Porter's Five Forces Analysis
    2. Supply Chain Analysis
  6. Chatbot Market– By Type

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      2. Market Attractiveness Index, By Type
    2. Solution*
      1.  Introduction
      2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
    3. Service
  7. Chatbot Market– By Deployment

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Deployment
      2. Market Attractiveness Index, By Deployment
    2. Cloud*
      1.  Introduction
      2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
    3. On-premise
  8. Chatbot Market– By End-User

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User
      2. Market Attractiveness Index, By End-User
    2. Healthcare*
      1.  Introduction
      2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
    3. Retail
    4. BFSI
    5. Travel & Tourism
    6. E-commerce
    7. Others
  9. Chatbot Market– By Region

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region
      2. Market Attractiveness Index, By Region
    2. North America
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Deployment
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User
      6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. The U.S.
        2. Canada
        3. Mexico
    3. Europe
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Deployment
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User
      6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. Germany
        2. The U.K.
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    4. South America
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Deployment
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User
      6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    5. Asia Pacific
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Deployment
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User
      6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. China
        2. India
        3. Japan
        4. Australia
        5. Rest of Asia Pacific
    6. The Middle East and Africa
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Deployment
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User
  10. Chatbot Market – Competitive Landscape

    1. Competitive Scenario
    2. Market Positioning/Share Analysis
    3. Mergers and Acquisitions Analysis
  11. Chatbot Market – Company Profiles

    1. Anboto*
      1. Company Overview
      2. Product Portfolio and Description
      3. Key Highlights
      4. Financial Overview
    2. Creative Virtual
    3. eGain
    4. Inbenta Technologies
    5. Nuance Communications
    6. IBM Corporation
    7. Artificial Solutions Inc.
    8. Next IT Corp
    9. [24]7.ai, Inc.
    10. Chatfuel (**List not exhaustive)
  12. Chatbot Market– Premium Insights

  13. Chatbot Market– DataM

    1. Appendix
    2. About Us and Services
    3. Contact Us

List of Tables
Table 1 Global Chatbot Market Value, By Type, 2018,2022 & 2026 ($ Million)
Table 2 Global Chatbot Market Value, By Deployment, 2018,2022 & 2026 ($ Million)
Table 3 Global Chatbot Market Value, By End-User, 2018,2022 & 2026 ($ Million)
Table 4 Global Chatbot Market Value, By Region, 2018,2022 & 2026 ($ Million)
Table 5 Global Chatbot Market Value, By Type, 2018,2022 & 2026 ($ Million)
Table 6 Global Chatbot Market Value, By Type, 2017-2026 ($ Million)
Table 7 Global Chatbot Market Value, By Deployment, 2018,2022 & 2026 ($ Million)
Table 8 Global Chatbot Market Value, By Deployment, 2017-2026 ($ Million)
Table 9 Global Chatbot Market Value, By End-User, 2018,2022 & 2026 ($ Million)
Table 10 Global Chatbot Market Value, By End-User, 2017-2026 ($ Million)
Table 11 Global Chatbot Market Value, By Region, 2018,2022 & 2026 ($ Million)
Table 12 Global Chatbot Market Value, By Region, 2017-2026 ($ Million)
Table 13 North America Chatbot Market Value, By Type, 2017-2026 ($ Million)
Table 14 North America Chatbot Market Value, By Deployment, 2017-2026 ($ Million)
Table 15 North America Chatbot Market Value, By End-User, 2017-2026 ($ Million)
Table 16 North America Chatbot Market Value, By Country, 2017-2026 ($ Million)
Table 17 South America Chatbot Market Value, By Type, 2017-2026 ($ Million)
Table 18 South America Chatbot Market Value, By Deployment, 2017-2026 ($ Million)
Table 19 South America Chatbot Market Value, By End-User, 2017-2026 ($ Million)
Table 20 South America Chatbot Market Value, By Country, 2017-2026 ($ Million)
Table 21 Europe Chatbot Market Value, By Type, 2017-2026 ($ Million)
Table 22 Europe Chatbot Market Value, By Deployment, 2017-2026 ($ Million)
Table 23 Europe Chatbot Market Value, By End-User, 2017-2026 ($ Million)
Table 24 Europe Chatbot Market Value, By Country, 2017-2026 ($ Million)
Table 25 Asia-Pacific Chatbot Market Value, By Type, 2017-2026 ($ Million)
Table 26 Asia-Pacific Chatbot Market Value, By Deployment, 2017-2026 ($ Million)
Table 27 Asia-Pacific Chatbot Market Value, By End-User, 2017-2026 ($ Million)
Table 28 Asia-Pacific Chatbot Market Value, By Country, 2017-2026 ($ Million)
Table 29 Middle East & Africa Chatbot Market Value, By Type, 2017-2026 ($ Million)
Table 30 Middle East & Africa Chatbot Market Value, By Deployment, 2017-2026 ($ Million)
Table 31 Middle East & Africa Chatbot Market Value, By End-User, 2017-2026 ($ Million)
Table 32 Anboto: Overview
Table 33 Anboto: Product Portfolio
Table 34 Anboto: Key Developments
Table 35 Creative Virtual: Overview
Table 36 Creative Virtual: Product Portfolio
Table 37 Creative Virtual: Key Developments
Table 38 eGain: Overview
Table 39 eGain: Product Portfolio
Table 40 eGain: Key Developments
Table 41 Inbenta Technologies: Overview
Table 42 Inbenta Technologies: Product Portfolio
Table 43 Inbenta Technologies: Key Developments
Table 44 Nuance Communications: Overview
Table 45 Nuance Communications: Product Portfolio
Table 46 Nuance Communications: Key Developments
Table 47 IBM Corporation: Overview
Table 48 IBM Corporation: Product Portfolio
Table 49 IBM Corporation: Key Developments
Table 50 Artificial Solutions Inc.: Overview
Table 51 Artificial Solutions Inc.: Product Portfolio
Table 52 Artificial Solutions Inc.: Key Developments
Table 53 Next IT Corp: Overview
Table 54 Next IT Corp: Product Portfolio
Table 55 Next IT Corp: Key Developments
Table 56 [24]7.ai, Inc.: Overview
Table 57 [24]7.ai, Inc.: Product Portfolio
Table 58 [24]7.ai, Inc.: Key Developments
Table 59 Chatfuel: Overview
Table 60 Chatfuel: Product Portfolio
Table 61 Chatfuel: Key Developments

List of Figures
Figure 1 Global Chatbot Market Share, By Type, 2018 & 2026 (%)
Figure 2 Global Chatbot Market Share, By Deployment, 2018 & 2026 (%)
Figure 3 Global Chatbot Market Share, By End-User, 2018 & 2026 (%)
Figure 4 Global Chatbot Market Share, By Region, 2018 & 2026 (%)
Figure 5 Global Chatbot Market Value, 2017-2026 ($ Million)
Figure 6 Global Chatbot Market Y-o-Y Growth, By Type, 2018-2026 (%)
Figure 7 Service: Global Chatbot Market Value, 2017-2026 ($ Million)
Figure 8 Solution: Global Chatbot Market Value, 2017-2026 ($ Million)
Figure 9 Global Chatbot Market Y-o-Y Growth, By Deployment, 2018-2026 (%)
Figure 10 Cloud: Global Chatbot Market Value, 2017-2026 ($ Million)
Figure 11 On-premise: Global Chatbot Market Value, 2017-2026 ($ Million)
Figure 12 Global Chatbot Market Y-o-Y Growth, By End-User, 2018-2026 (%)
Figure 13 Healthcare: Global Chatbot Market Value, 2017-2026 ($ Million)
Figure 14 Retail: Global Chatbot Market Value, 2017-2026 ($ Million)
Figure 15 BFSI: Global Chatbot Market Value, 2017-2026 ($ Million)
Figure 16 Travel & Tourism: Global Chatbot Market Value, 2017-2026 ($ Million)
Figure 17 E-commerce: Global Chatbot Market Value, 2017-2026 ($ Million)
Figure 18 Others: Global Chatbot Market Value, 2017-2026 ($ Million)
Figure 19 Global Chatbot Market Y-o-Y Growth, By Region, 2018-2026 (%)
Figure 20 North America Chatbot Market Value, 2017-2026 ($ Million)
Figure 21 North America Chatbot Market Share, By Type, 2018 & 2026 (%)
Figure 22 North America Chatbot Market Share, By Deployment, 2018 & 2026 (%)
Figure 23 North America Chatbot Market Share, By End-User, 2018 & 2026 (%)
Figure 24 North America Chatbot Market Share, By Country, 2018 & 2026 (%)
Figure 25 South America Chatbot Market Value, 2017-2026 ($ Million)
Figure 26 South America Chatbot Market Share, By Type, 2018 & 2026 (%)
Figure 27 South America Chatbot Market Share, By Deployment, 2018 & 2026 (%)
Figure 28 South America Chatbot Market Share, By End-User, 2018 & 2026 (%)
Figure 29 South America Chatbot Market Share, By Country, 2018 & 2026 (%)
Figure 30 Europe Chatbot Market Value, 2017-2026 ($ Million)
Figure 31 Europe Chatbot Market Share, By Type, 2018 & 2026 (%)
Figure 32 Europe Chatbot Market Share, By Deployment, 2018 & 2026 (%)
Figure 33 Europe Chatbot Market Share, By End-User, 2018 & 2026 (%)
Figure 34 Europe Chatbot Market Share, By Country, 2018 & 2026 (%)
Figure 35 Asia-Pacific Chatbot Market Value, 2017-2026 ($ Million)
Figure 36 Asia-Pacific Chatbot Market Share, By Type, 2018 & 2026 (%)
Figure 37 Asia-Pacific Chatbot Market Share, By Deployment, 2018 & 2026 (%)
Figure 38 Asia-Pacific Chatbot Market Share, By End-User, 2018 & 2026 (%)
Figure 39 Asia-Pacific Chatbot Market Share, By Country, 2018 & 2026 (%)
Figure 40 Middle East & Africa Chatbot Market Value, 2017-2026 ($ Million)
Figure 41 Middle East & Africa Chatbot Market Share, By Type, 2018 & 2026 (%)
Figure 42 Middle East & Africa Chatbot Market Share, By Deployment, 2018 & 2026 (%)
Figure 43 Middle East & Africa Chatbot Market Share, By End-User, 2018 & 2026 (%)
Figure 44 Anboto: Financials
Figure 45 Creative Virtual: Financials
Figure 46 eGain: Financials
Figure 47 Inbenta Technologies: Financials
Figure 48 Nuance Communications: Financials
Figure 49 IBM Corporation: Financials
Figure 50 Artificial Solutions Inc.: Financials
Figure 51 Next IT Corp: Financials
Figure 52 [24]7.ai, Inc.: Financials
Figure 53 Chatfuel: Financials

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