DUBLIN--(BUSINESS WIRE)--The "Conversational AI Platform Market by Types (Chatbot, Intelligent Virtual Assistant), Applications (Personal Assistant, Customer Support, Branding & Marketing, Employee Engagement & Support), Verticals, Regions- Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
This market research report predicts that the global conversational AI platform market will grow at a CAGR of 32.4% during the forecast period.
The market for conversational AI platform is driven by the increasing number of messaging apps and voice assistants. Several industries are investing in conversational chatbots and are integrating AI-based chatbots with websites to stay ahead of the competition, as customers prefer chatting as the primary mode of communication. Preference to deal with human and data privacy & security concerns are hampering the market growth.
The implementation of conversational AI is anticipated to grow further as more and more companies are integrating conversational AI platforms in the existing chat, contact, and call centers for offering seamless interactivity and delivering personalized interactions to improve customer engagement.
According to the conversational AI platform industry analysis, North America accounted for the largest share of the global conversational AI platform market in 2018. With the presence of the highest number of technology innovators and market disruptors, the adoption of the conversational AI platform is highest in this region. The increasing use of smart speakers, giving rise to intelligent virtual assistant technology, is driving the North America conversational AI platform market. The Asia Pacific region is expected to witness the fastest growth rate due to increasing initiatives and spending toward AI.
Conversational AI Platform Market Research Competitive Analysis and Key Vendors
The report covers and analyzes the global conversational AI platform market. Major vendors across different verticals are planning for high investments in this market, and as a result, the conversational AI platform market is expected to grow at an impressive rate in the coming years. The key players in the conversational AI platform market are adopting various organic as well as inorganic growth strategies such as mergers & acquisitions, collaborations & partnerships, joint ventures, and few other strategies to be in the strong position in the market.
Few of the Key Vendors in the Conversational AI Platform Market Research
- Artificial Solutions
Microsoft and IBM are focusing more on the conversational AI applications in an enterprise environment; while Google and Amazon are focusing on how people can use it in their daily lives. These companies are creating AI-based chatbots and are also offering conversational AI tools that allow developers to build, connect, and manage intelligent bots.
There are numerous other vendors that have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.
Key Topics Covered:
1 Executive Summary
1.1 The Rise of AI enabled Chatbot
1.2 Segments expected to grow during the forecasted period
2 Industry Outlook
2.1 Industry Overview
2.2 Industry Trends
3 Market Snapshot
3.1 Total Addressable Market
3.2 Segment Addressable Market
3.2.1 PEST Analysis
3.2.2 Porter's Five Force Analysis
3.3 Related Markets
4 Market Characteristics
4.2 Market Trends and Impact
4.3 Market Segmentation
4.4 Market Dynamics
188.8.131.52 Rise of messaging apps and voice assistant
184.108.40.206 Cost-effective options for creating chatbots
220.127.116.11 Increasing pressure on contact centers
18.104.22.168 Data Privacy and Security concerns
22.214.171.124 Customers preferring to deal with a human
126.96.36.199 Creating more personalized and better Engagement with Customers
188.8.131.52 Shift from rule-based solutions to AI-driven
4.4.4 DRO - Impact Analysis
5 Conversational AI Platform Market, By Types
5.3 Intelligent Virtual Assistant
6 Conversational AI Platform Market, By Applications
6.2 Personal Assistant
6.3 Customer Support
6.4 Branding and Marketing
6.5 Employee Engagement and Support
7 Conversational AI Platform Market, By Verticals
7.3 Retail and E-commerce
7.4 Travel and Hospitality
7.5 Telecom & ITeS
7.6 Healthcare and Life Sciences
7.7 Media and Entertainment
8 Conversational AI Platform Market, By Region
8.2 North America
8.4 Asia Pacific
8.5.1 Latin America
8.5.2 Middle East and Africa
9 Competitive Landscape
9.1 Competitor Analysis
9.2 Product/Offerings Portfolio Analysis
9.3 Market Developments
9.3.1 Partnerships and Collaborations
9.3.2 Product Launches & Exhibitions
9.4 SWOT Analysis
10 Vendor Profiles
For more information about this report visit https://www.researchandmarkets.com/r/z32o9n