Global Chatbot Market 2021-2025

Global Chatbot Market 2021-2025

Technavio has been monitoring the chatbot market and it is poised to grow by $ 1.73 bn during 2021-2025, progressing at a CAGR of over 29% during the forecast period. Our report on chatbot market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increased demand for web self-service and advantages of chatbots over other customer support options. In addition, Increased demand for web self-service is anticipated to boost the growth of the market as well.

The chatbot market analysis include end-user segment and geographic landscape.

Technavio's chatbot market is segmented as below:

By End-user

• Retail
• BFSI
• Government
• Travel and hospitality
• Others

By Geographical Landscape

• North America
• APAC
• Europe
• South America
• MEA

This study identifies the focus on improving CRM as one of the prime reasons driving the chatbot market growth during the next few years.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on chatbot market covers the following areas:

• Chatbot market sizing
• Chatbot market forecast
• Chatbot market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading chatbot market vendors that include Alphabet Inc., Amazon.com Inc., Anboto Europe SL Co., Apple Inc., Creative Virtual Ltd., eGain Corp., Inbenta Technologies Inc., International Business Machines Corp., Microsoft Corp., and Nuance Communications Inc. Also, the chatbot market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.