Home / Technology & Media / Chatbots Market By Type (Stand-alone, Web-based), End User (Large, Small and Medium-sized Enterprises) - Growth, Share, Opportunities & Competitive Analysis, 2021 - 2027

Chatbots Market By Type (Stand-alone, Web-based), End User (Large, Small and Medium-sized Enterprises) - Growth, Share, Opportunities & Competitive Analysis, 2021 - 2027

Published: Jun 2016 | Report Code: 57913-06-16

Overview:

Mounting popularity of interactive online channels coupled with the need to improve customer relationship through customer engagement is expected to drive the market for chatbots during the forecast period 2021 – 2027. In addition, multitude of research dedicated towards improving capabilities of chatbots (e-integration with messaging platforms, etc.) has been instrumental in driving adoption of chatbots among enterprises. These factors are expected to contribute towards the anticipated exponential growth during the forecast period 2021 – 2027.

Report Scope

This report analyzes the global chatbots market in terms of type, end-use application, and geography. On the basis of type, the global chatbots market is segmented into stand-alone chatbots and web-based chatbots. Similarly, on the basis of end-use application, the market for chatbots is classified into large enterprise and small & medium-sized enterprise. The geographical distribution of the global chatbots market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

1.1    Report Description

Purpose of the Report

The purpose of this strategic research study titled “Chatbots Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2027” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them to make informed strategic decisions related to the opportunities in the chatbots market.

1.1.1   Target Audience

  • Industry Investors
  • Chatbot Software Developers
  • Messaging Platform Vendors
  • Voice Platform Vendors
  • End-users

1.1.2   USP and Key Offerings

The report titled “Global Chatbots Market - Growth, Share, Opportunities, and Competitive Analysis, 2020 – 2026” offers strategic insights into the global chatbots market along with the market size and estimates for the duration 2021 – 2027. The said research study covers in-depth analysis of multiple market segments based on type, end-use application, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the key industry participants, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and recent developments. Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive sub-markets within the chatbots market
  • Market fuelers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global chatbots market, offering market size and estimates for the period from 2021 – 2027, keeping in mind the above-mentioned factors.

There has been a lot of hype surrounding the potential of artificial intelligence and its use across different applications. With the growing adoption of messaging and voice technologies in enterprise applications, chatbot solutions are also expected to thrive in the coming years. The chatbots market, still in infancy, is majorly limited to large enterprises. The penetration of chatbots has been fairly sluggish among small and medium-sized enterprises. On the basis of the end-use application, the global chatbots market is categorized into the following segments:

  • Large Enterprises
  • Small and Medium-sized Enterprises (SMEs)

The following figure represents the contribution of different end-use segments to the global chatbots market in 2020 and 2026.

In the base year of 2020, the large enterprise segment was the largest revenue contributor to the global chatbots market. The segment accounted for over 85% of the global market revenue in the same year. The trend is presumed to continue with the segment retaining its dominant position throughout the forecast period. Intensifying business competition has led to increased use of chatbots among large enterprises. However, with the advancements in technology and the rising popularity of interactive online channels, the use of chatbots is presumed to extend beyond large businesses to small and medium-sized enterprise.

On the basis of geography, the global chatbots market is segmented into following regions and countries.

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australasia
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa

In the base year of 2020, North America comprising the United States and Canada represented the largest chatbots market in terms of revenue. The region accounted for 38% of the global market revenue in the same year. The U.S. represents the largest and most attractive individual chatbots market worldwide. The dominance can be attributed to the growing number of companies and multitude of research in the field of artificial intelligence. Over the forecast period 2021 – 2026, North America is expected to remain the largest chatbots market worldwide. On the other hand, Asia Pacific is poised to exhibit robust growth, outpacing developed markets like Europe and North America to emerge as one of the major chatbots market by 2027. The U.S. companies have begun exploring the latent potential in Asia, where messaging services including WeChat are used by users to schedule doctor's appointments, play games or the lottery, shop for shoes, and transfer money among others.

As manufacturers and software developers seek to gain first-mover advantage, we expect increased technology penetration and intensifying competition in the emerging economies of Asia, Middle-East, and Latin America.

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