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South Africa Conversational AI Market, By Component (Platform, Services); By Conversational Agent Type (AI Chatbots, Voice Bots, Interactive Voice Assistants (IVAs), Generative AI Agents); By Deployment Mode (Cloud, On-Premises); By Technology (Machine Le

Publisher BlueWeave Consulting
Published Jul 22, 2024
Length 200 Pages
SKU # BLWC19215165

Description

South Africa Conversational AI Market, By Component (Platform, Services); By Conversational Agent Type (AI Chatbots, Voice Bots, Interactive Voice Assistants (IVAs), Generative AI Agents); By Deployment Mode (Cloud, On-Premises); By Technology (Machine Learning (ML), Deep Learning, Automated Speech Recognition, Natural Language Processing (NLP)); By End User (BFSI, Retail & E-commerce, Healthcare & Life Sciences, Travel & Hospitality, Telecom, Media & Entertainment, Others), Trend Analysis, Competitive Landscape & Forecast, 2019–2030


South Africa Conversational AI Market Size Explodes at Accelerated CAGR to Reach USD 620.5 Million by 2030
South Africa Conversational AI Market is flourishing because of an increasing demand for AI-powered digital experience and growing awareness about the benefits of deploying AI across the major industries.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated South Africa Conversational AI Market size at USD 210.0 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects South Africa Conversational AI Market size to expand at a CAGR of 17.9% reaching a value of USD 620.5 million by 2030. The rising need for chatbots to enhance customer service and save costs, as well as the increasing integration of computer vision and speech recognition technologies, are key driving factors for South African Conversational AI Market during the period in analysis.
Opportunity - Rising adoption of conversational AI across industries
South Africa Conversational AI Market consists of various industry segments including BFSI, retail & e-commerce, healthcare & life sciences, travel & hospitality, telecom, and media & entertainment, based on end user. The retail & e-commerce segment is witnessing the highest adoption rate of conversational AI. The sector leverages conversational AI to offer round-the-clock customer service through chatbots and virtual assistants. Conversational AI responds to frequently asked questions, product & order details, and other support that helps the retail & e-commerce sector achieve higher efficiency and increased customer satisfaction.
NLP Is Leading Conversational AI Technology Segment
Based on technology, South Africa Conversational AI Market is segmented into machine learning (ML), deep learning, automated speech recognition, and natural language processing (NLP). The NLP segment holds the largest share of South Africa's Conversational AI Market by technology. Large amounts of natural language data are processed with the help of NLP. It also allows the documentation procedures to be streamlined to improve their efficiency, including documentation accuracy. Meanwhile, the automated speech recognition technology is also expected to register a significant growth rate over the forecast period.
Impact of Escalating Geopolitical Tensions on South Africa Conversational AI Market
Intensifying geopolitical tensions can have a multifaceted impact on South Africa Conversational AI Market. Uncertainties stemming from geopolitical instability can lead to potential shortages of experienced professionals in developing conversational AI solutions. Investors’ confidence may waver, hindering foreign investment and affecting overall economic stability. Moreover, heightened geopolitical uncertainties could prompt increased regulatory scrutiny and compliance costs, influencing the operational landscape for conversational solution and service providers. Adapting to these shifts becomes crucial for sustaining growth in South Africa's Conversational AI Market landscape amidst such challenging geopolitical dynamics.
Competitive Landscape
The South Africa Conversational AI Market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include CM.com, Botlhale AI Pty Ltd, Peach Bots Services (Pty) Ltd, Pipedrive, Freshworks Customer Service Suite, Fathom, Codiste, BotsZA (PTY) Limited, and Smartsupp.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and South Africa Conversational AI Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in South Africa Conversational AI Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Table of Contents

200 Pages
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Executive Summary
3. South Africa Conversational AI Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Growth Drivers
3.2.1.1. Increased Demand for AI-powered Digital Experience
3.2.1.2. Growing Awareness of AI Benefits
3.2.1.3. Adoption of AI-powered Chatbots and Virtual Assistants
3.2.1.4. AI-driven Analytics for Data-driven Decision Making
3.2.2. Restraints
3.2.2.1. Concerns about Data Privacy and Security
3.2.2.2. Limited Access to Skilled AI Talent
3.2.3. Opportunities
3.2.3.1. Government Initiatives to Promote Digital Skills Development
3.2.3.2. Collaborations between Academia and Industry
3.2.3.3. Availability of AI-as-a-Service Solutions
3.2.3.4. Increasing Adoption of AI in customer Service and Engagement
3.2.4. Challenges
3.2.4.1. High Implementation Costs
3.2.4.2. Lack of Awareness and Understanding of AI
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. South Africa Conversational AI Market: Marketing Strategies
5. South Africa Conversational AI Market Overview
5.1. Market Deployment & Forecast, 2019–2030
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Component
5.2.1.1. Platform
5.2.1.2. Services
5.2.1.2.1. Support and Maintenance
5.2.1.2.2. Training and Consulting
5.2.1.2.3. System Integration
5.2.2. By Conversational Agent Type
5.2.2.1. AI Chatbots
5.2.2.2. Voice Bots
5.2.2.3. Interactive Voice Assistants (IVA)
5.2.2.4. Generative AI Agents
5.2.3. By Deployment
5.2.3.1. Cloud
5.2.3.2. On-Premises
5.2.4. By Technology
5.2.4.1. Machine Learning
5.2.4.2. Deep Learning
5.2.4.3. Automated Speech Recognition
5.2.4.4. Natural Language Processing
5.2.5. By End User
5.2.5.1. BFSI
5.2.5.2. Retail & E-commerce
5.2.5.3. Healthcare & Life Science
5.2.5.4. Travel & Hospitality
5.2.5.5. Telecom
5.2.5.6. Media & Entertainment
5.2.5.7. Others
6. Competitive Landscape
6.1. List of Key Players and Their Range
6.2. South Africa Conversational AI Company Market Share Analysis, 2023
6.3. Competitive Benchmarking, By Operating Parameters
6.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
7. Impact of Escalating Geopolitical Tensions on South Africa Conversational AI Market Industry
8. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
8.1. CM.com
8.2. Botlhale AI Pty Lt
8.3. Peach Bots Services (Pty) Ltd
8.4. Pipedrive
8.5. Freshworks Customer Service Suite
8.6. Fathom
8.7. Codiste
8.8. BotsZA (PTY) Limited
8.9. Smartsupp
8.10. Other Prominent Players
9. Key Strategic Recommendations
10. Research Methodology
10.1. Qualitative Research
10.1.1. Primary & Secondary Research
10.2. Quantitative Research
10.3. Market Breakdown & Data Triangulation
10.3.1. Secondary Research
10.3.2. Primary Research
10.4. Breakdown of Primary Research Respondents
10.5. Assumption & Limitation
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
Figure 1 South Africa Conversational AI Market Segmentation
Figure 2 South Africa Conversational AI Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 South Africa Conversational AI Market Deployment, By Value (USD Million), 2019–2030
Figure 5 South Africa Conversational AI Market Share, By Component, By Value, 2019–2030
Figure 6 South Africa Conversational AI Market Share, By Conversational Agent Type, By Value, 2019–2030
Figure 7 South Africa Conversational AI Market Share, By Deployment, By Value, 2019–2030
Figure 8 South Africa Conversational AI Market Share, By Technology, By Value, 2019–2030
Figure 9 South Africa Conversational AI Market Share, By End User, By Value, 2019–2030
List of Tables
Table 1 South Africa Conversational AI Market Share, By Component, By Value, 2019–2030
Table 2 South Africa Conversational AI Market Share, By Conversational Agent Type, By Value, 2019–2030
Table 3 South Africa Conversational AI Market Share, By Deployment, By Value, 2019–2030
Table 4 South Africa Conversational AI Market Share, By Technology, By Value, 2019–2030
Table 5 South Africa Conversational AI Market Share, By End User, By Value, 2019–2030
Table 5 CM.com Company Overview
Table 6 CM.com Financial Overview
Table 7 Botlhale AI Pty Lt Company Overview
Table 8 Botlhale AI Pty Lt Financial Overview
Table 9 Peach Bots Services (Pty) Ltd Company Overview
Table 10 Peach Bots Services (Pty) Ltd Financial Overview
Table 11 Pipedrive Company Overview
Table 12 Pipedrive Financial Overview
Table 13 Freshworks Customer Service Suite Company Overview
Table 14 Freshworks Customer Service Suite Financial Overview
Table 15 Fathom Company Overview
Table 16 Fathom Financial Overview
Table 17 Codiste Company Overview
Table 18 Codiste Financial Overview
Table 19 BotsZA (PTY) Limited Company Overview
Table 20 BotsZA (PTY) Limited Financial Overview
Table 21 Smartsupp Company Overview
Table 22 Smartsupp Financial Overview

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