Live Chat Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
The global live chat software market reached a value of US$ 900 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,486 Million by 2027, exhibiting a CAGR of 8.62% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Live chat software is utilized by organizations and online ventures for providing immediate customer support and information in real-time. It offers quick responses, personalized customer experience, and proactive and omnichannel support, which significantly boosts sales and customer loyalty. It also provides useful data points and measurable metrics that assist the firm in optimizing customer support and capturing leads. Consequently, it finds extensive application in the healthcare, automotive, aerospace, real estate, information technology (IT) and telecommunication, travel and tourism, education and training, and banking, financial services and insurance (BFSI) industries across the globe.
Due to the sudden outbreak of the coronavirus disease (COVID-19), governments of various countries have imposed complete lockdowns. Consequently, businesses that sell their products through offline distribution channels have been closed temporarily. This, in turn, has increased the sales of food items and different products on e-commerce channels and escalated the demand for live chat software to provide 24X7 customer support and resolve their queries and issues. Other than this, on account of rapid urbanization, various small-medium enterprises (SMEs) are deploying cloud-based live chat software to provide enhanced user experience and expand their market reach. Furthermore, leading players are offering additional features, such as co-browsing and screen-sharing, social media integration, automated pop-up messages and mobile support, which is increasing the adoption of live chat software across various industries and improving their customer relationship management (CRM).
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global live chat software market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, deployment type and application.
Breakup by Type:
Informational Live Chat Systems
Customer Service Live Chat Systems
Sales Live Chat Systems
Breakup by Deployment Type:
Breakup by Application:
IT and Consulting
Retail and E-commerce
Travel and Hospitality
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Comm100 Network Corporation, Freshdesk Inc. (Freshworks Inc.), Kayako, LiveChat Inc., Liveperson Inc., Logmein Inc., Provide Support LLC, Pure Chat Inc., SnapEngage LLC and Zendesk Inc.
Key Questions Answered in This Report:
How has the global live chat software market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global live chat software market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the deployment type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global live chat software market and who are the key players?
What is the degree of competition in the industry?
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