Chatbots have become one of the biggest technology disruptor in various industries and have successfully emerged as necessity for mainstream businesses. Chatbots are broadly classifies into two categories- Scripted or Rule-based Chatbots and Artificial Intelligence (AI)-based Chatbots. Scripted Chatbots are rule-based guided conversation with limited functionality. AI bots are built on Machine Learning (ML) and Natural Language Processing (NLP) capabilities using artificial intelligence.
Great deal of advancement has been witnessed in global chatbots market with meteoric growth rates. Growth of the market is primarily attributed to continual rise of messaging platforms, growing market support, growing market support, enhanced customer relationship management and reduction in cost of development.
However, some of the major growth impediments include cold user experiences, issues related to security & data privacy and presence of large number of market players. Global chatbot market is characterized by leading industry trends such as advent of industry specific chatbots, third-party bot development and venture capital funding.
Major industry players operating in the global chatbots market include IBM Watson, Nuance Communications Inc., Artificial Solutions, eGain Corporation, Creative Virtual Pvt. Ltd., among others.
Key Topics Covered:
1. Executive Summary
2. Research Methodology
3.1.1 Building Blocks of Chatbots
3.3 Functioning of Chatbots
3.3.1 Uses of Chatbots
3.3.3 Advantages of Chatbots
3.4 Business Models
3.4.1 Artificial Intelligence Chatbots
3.4.2 Marketing-led Chatbots
3.4.3 HUMINT-led Chatbots
4. Market Analysis
4.1 Market Sizing
4.2 Market Share
5. Market Dynamics
5.1 Industry Trends & Development
5.1.1 Industry Specific Chatbots
5.1.2 Third-Party Bot Development
5.1.3 Venture Capital Funding
5.2 Growth Drivers
5.2.1 Rise of Messaging Platform
5.2.2 Growing Market Support
5.2.3 Enhanced Customer Relationship Management
5.2.4 Reduction in Cost of Development
5.3.1 Cold User Experiences
5.3.2 Security & Data Privacy
5.3.3 Large Number of Market Players
6. Competitive Landscape
7. Company Profiles
- Artificial Solutions
- Creative Virtual Pvt. Ltd.
- eGain Corporation
- IBM Watson
- Nuance Communications Inc.
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