Report

conversational ai platform market

Conversational AI Platform Market by Types (Chatbot, Intelligent Virtual Assistant), Applications (Personal Assistant, Customer Support, Branding & Marketing, Employee Engagement & Support), Verticals (BFSI, Retail & e-Commerce, Travel & Hospitality, Telecom & ITES, Healthcare & Life Sciences, Media & Entertainment, Others), Regions (North America, Europe, APAC, RoW) – Global Forecast to 2025

pages Pages: 104
tables Tables: 38
charts Charts: 70
country Regions/Countries: 4/6
compaines Companies: 10
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[104 Report Pages] This market research report includes a detailed segmentation of the global conversational AI platform market by types (chatbot, intelligent virtual assistant), applications (personal assistant, customer support, branding & marketing, employee engagement & support), verticals (BFSI, retail & e-commerce, travel & hospitality, telecom & ITES, healthcare & life sciences, media & entertainment, others), regions (North America, Europe, APAC, RoW). The market research report identifies Google, Microsoft, Amazon, IBM, SAP, Nuance, and Artificial Solutions as the major vendors operating in the global conversational AI platform market.

Overview of the Conversational AI Platform Market

Infoholic’s 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:


  • Google

  • Microsoft

  • AWS

  • IBM

  • SAP

  • Nuance

  • 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.

Conversational AI Platform Market Research By Types

 


  • Chatbots

  • Intelligent Virtual Assistant


  •  


Intelligent virtual assistant is expected to grow at the highest rate during the forecast period 2019–2025.

Conversational AI Platform Market Research By Applications

 

 


  • Personal Assistant

  • Customer Support

  • Branding & Marketing

  • Employee Engagement & Support


  •  


Customer support is estimated to hold the largest market share in 2019, and personal assistant is expected to grow at the highest rate during the forecast period 2019–2025.

Conversational AI Platform Market Research By Verticals

 

 


  • BFSI

  • Retail & e-Commerce

  • Travel & Hospitality

  • Telecom & ITES

  • Healthcare & Life Sciences

  • Media & Entertainment

  • Others


  •  


The retail & e-commerce market is expected to grow at the highest rate for driving profitability, soothing customer concerns with seamless omnichannel experience, and enhancing customer engagement.

Conversational AI Platform Market Research Benefits

The report provides an in-depth analysis of the conversational AI platform market. Conversational AI platforms, by delivering exceptional customer services, make it possible for any company to enhance customer satisfaction and retention rate. AI-powered chatbots can automate repetitive customer service tasks and are delivering a high level of responsiveness when compared to humans. These chatbots help the companies in reducing time and efforts on rigorous training being provided to customer desk employees, resulting in improved return on investment. A virtual agent in the form of a chatbot offers cost and time savings by swiftly responding to customer queries. Conversational AI is also impacting the personal lives where virtual assistants are helping in managing to do lists, setting alarms, reminding for meetings, taking down notes, and so on. The report discusses the market in terms of types, applications, verticals, and regions. Further, the report provides details about the major challenges impacting the market growth.

 

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

4.1         Ecosystem

4.2         Market Trends and Impact

4.3         Market Segmentation

4.4         Market Dynamics

4.4.1      Drivers

4.4.1.1   Rise of messaging apps and voice assistant

4.4.1.2   Cost effective options for creating chatbots

4.4.1.3   Increasing pressure on contact centers

4.4.2      Restraints

4.4.2.1   Data Privacy and Security concerns

4.4.2.2   Customers preferring to deal with a human

4.4.3      Opportunities

4.4.3.1   Creating more personalized and better Engagement with Customers

4.4.3.2   Shift from rule-based solutions to AI-driven

4.4.4      DRO – Impact Analysis

5            Conversational AI Platform Market, By Types

5.1         Overview

5.2         Chatbots

5.3         Intelligent Virtual Assistant

6            Conversational AI Platform Market, By Applications

6.1         Overview

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

7.1         Overview

7.2         BFSI

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

7.8         Others

8            Conversational AI Platform Market, By Region

8.1         Overview

8.2         North America

8.2.1      US

8.2.2      Canada

8.3         Europe

8.3.1      UK

8.3.2      Germany

8.3.3      RoE

8.4         Asia Pacific

8.4.1      China

8.4.2      India

8.4.3      RoAPAC

8.5         RoW

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

10.1       Google

10.1.1    Analyst Opinion

10.1.2    Business Analysis

10.1.2.1 Strategic Snapshot

10.1.2.2 Business Impact Analysis

10.1.2.3 Operational Snapshot

10.1.2.4 Product/Service Portfolio

10.2       Microsoft

10.2.1    Analyst Opinion

10.2.2    Business Analysis

10.2.2.1 Strategic Snapshot

10.2.2.2 Business Impact Analysis

10.2.2.3 Operational Snapshot

10.2.2.4 Product/Service Portfolio

10.3       Amazon (AWS)

10.3.1    Analyst Opinion

 


  1. 3.2 Business Analysis


  2.  


10.3.2.1 Strategic Snapshot

10.3.2.2 Business Impact Analysis

10.3.2.3 Operational Snapshot

10.3.2.4 Product/Service Portfolio

10.4       IBM

10.4.1    Analyst Opinion

10.4.2    Business Analysis

10.4.2.1 Strategic Snapshot

10.4.2.2 Business Impact Analysis

10.4.2.3 Operational Snapshot

10.4.2.4 Product/Service Portfolio

10.5       Oracle

10.5.1    Analyst Opinion

10.5.2    Business Analysis

10.5.2.1 Strategic Snapshot

10.5.2.2 Business Impact Analysis

10.5.2.3 Operational Snapshot

10.5.2.4 Product/Service Portfolio

10.6       Baidu

10.6.1    Analyst Opinion

10.6.2    Business Analysis

10.6.2.1 Strategic Snapshot

10.6.2.2 Business Impact Analysis

10.6.2.3 Operational Snapshot

10.6.2.4 Product/Service Portfolio

10.7       SAP

10.7.1    Analyst Opinion

10.7.2    Business Analysis

10.7.2.1 Strategic Snapshot

10.7.2.2 Business Impact Analysis

10.7.2.3 Operational Snapshot

10.7.2.4 Product/Service Portfolio

10.8       Nuance

10.8.1    Analyst Opinion

10.8.2    Business Analysis

10.8.2.1 Strategic Snapshot

10.8.2.2 Business Impact Analysis

10.8.2.3 Operational Snapshot

10.8.2.4 Product/Service Portfolio

10.9       Artificial Solutions

10.9.1    Analyst Opinion

10.9.2    Business Analysis

10.9.2.1 Strategic Snapshot

10.9.2.2 Business Impact Analysis

10.9.2.3 Operational Snapshot

10.9.2.4 Product/Service Portfolio

10.10     Kore.ai

10.10.1  Analyst Opinion

10.10.2  Business Analysis

10.10.2.1 Strategic Snapshot

10.10.2.2 Business Impact Analysis

10.10.2.3 Operational Snapshot

10.10.2.4 Product/Service Portfolio

11          Annexure

11.1       Report Scope

11.2       Market Definition

11.3       Research Methodology

11.3.1    Data Collation & In-house Estimation

11.3.2    Market Triangulation

11.3.3    Forecasting

11.4       Study Declarations

11.5       Report Assumptions

11.6     Abbreviations

 

Research Framework

Infoholic Research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:

  • Data Collation (Primary & Secondary)
  • In-house Estimation (Based on proprietary data bases and Models)
  • Market Triangulation
  • Forecasting
Methodology

Market related information is congregated from both primary and secondary sources.

Primary sources

Involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.

Secondary sources

Include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.

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Conversational AI Platform Market by Types (Chatbot, Intelligent Virtual Assistant), Applications (Personal Assistant, Customer Support, Branding & Marketing, Employee Engagement & Support), Verticals (BFSI, Retail & e-Commerce, Travel & Hospitality, Telecom & ITES, Healthcare & Life Sciences, Media & Entertainment, Others), Regions (North America, Europe, APAC, RoW) – Global Forecast to 2025
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