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Global Conversational Commerce Market 2023-2028: Market Trends & Strategies

Publisher Juniper Research
Published Oct 30, 2023
Length 54 Pages
SKU # JNRH19997409

Description

Juniper Research’s Conversational Commerce research suite provides a comprehensive assessment of the evolving nature of this established market, including an analysis of the developing technologies, such as LLMs (Large Language Models), are shaping the industry.

It highlights how conversational commerce channels will be leveraged to increase personalisation of the consumer shopping experience and therefore increase engagement. Specifically, through deploying value-added services, this will improve customer satisfaction by assisting customers at each stage of the purchasing journey, from pre-transaction to post-transaction.

Additionally, the report includes a comprehensive country-level analysis using Juniper Research’s Country Readiness Index; highlighting the key future opportunities for growth in this market. This regional analysis is complemented by the use of thorough in-house forecast data spanning 60 countries across 8 key regions. These datasets assess a range of criteria, including conversational commerce users and total spend across each channel.

The research also includes the following:

Key Takeaways & Strategic Recommendations: Incisive recommendations on the future of the conversational commerce market, including how operators can best capitalise on the growing conversational commerce market; bolstered by extensive market forecasts and interviews with conversational commerce vendors.
Market Outlook: In-depth assessment of key market trends, drivers, and challenges that are anticipated to impact conversational commerce. This includes an analysis of each of the conversational commerce channels:
Chatbots
OTT Messaging
RCS Messaging
Voice Assistants
Juniper Research Country Readiness Index: Comprehensive coverage featuring country‑level market analysis on the future of the market in 60 countries and 8 key regions; thoroughly analysing each country’s potential success in the conversational commerce market, with recommendations for future growth, paired with 5-year forecast data.
Offered in PDF format.

Please note: the online download version of this report is for a global site license.

Table of Contents

54 Pages
1. Key Takeaways & Strategic Recommendations
1.1 Key Market Takeaways
1.2 Strategic Recommendations
2. Future Market Outlooks
2.1 Introduction to Conversational Commerce
Figure 2.1: Example Use Case of Conversational Commerce
2.1.1 Overview of the Conversational Commerce Market
Figure 2.2: Conversational Commerce Total Spend in 2023 ($m), Split by 8 Key Regions
Figure 2.3: Total Users of Conversational Commerce Channels 2023-2028 (m), Split by 8 Key Regions
Figure 2.4: Select Countries with the Highest Average Spend via Conversational Commerce Channels per User per annum in 2028 ($)
2.1.2 Conversational Commerce Channels
i. Different Conversational Commerce Channels
Figure 2.5: Conversational Commerce Channels
Figure 2.6: History of Chatbots
Figure 2.7: Most Popular OTT App by Country in 2023
Figure 2.8: Total Voice-Assistant enabled Speakers Installed Base That Is Payment Enabled (m), Split by 8 Key Regions
ii. Conversational Commerce Channels Spend
Figure 2.9: Total Spend over Conversational Commerce 2023-2028 ($m), Split by Channel
2.1.3 Spend Across Key Verticals
Figure 2.10: Spend across Key Conversational Commerce Verticals ($m), 2023-2028
2.1.4 Key Drivers of Market Growth
2.1.5 Market Segment Analysis
i. Demographic Differences
ii. Geographic Differences
2.1.6 Key Challenges for Conversational Commerce Growth
3. Value-added Services
3.1 Different Types of Value-added Services
3.1.1 Pre-transaction Value-added Services
i. Personalisation
Figure 3.1: Example of an Interactive Quiz for the Retail Industry
ii. Integration with Social Media Platforms
iii. Interactive Content
iv. IVR Deflection
Figure 3.2: Example of IVR Deflection
3.1.2 During Transaction Value-added Services
i. Completion of Payments within the Conversation
ii. Brand Verification
iii. Integration with Loyalty Programmes
Figure 3.3: Example of a Loyalty Programme within a Conversational Commerce Channel
3.1.3 Post-transaction Value-added Services
i. Returns and Exchanges
4. Country Readiness Index
4.1 Conversational Commerce Country Readiness Index
Table 4.2: Juniper Research Conversational Commerce Country Readiness Index: Scoring Criteria
Figure 4.3: Juniper Research Country Readiness Index – Conversational Commerce
4.1.1 Focus Markets
i. Far East & China
Figure 4.4: Proportion of Spend Attributable to Each Conversational Commerce Channel in Far & East & China 2023 (%), Split into 4 Key Countries
ii. West Europe
Figure 4.5: Proportion of Spend Attributable to Key Market Verticals in West Europe in 2023 (%), Split by 9 Key Countries
iii. North America
Figure 4.6: Average Spend via Conversational Commerce Channels per User per annum in North America ($), Split into 2 Key Countries, 2023-2028
iv. Latin America
v. Indian Subcontinent
Figure 4.7: Total Spend across RCS Conversational Commerce in India ($), 2023-2028
vi. Rest of Asia Pacific
4.1.2 Growth Markets
i. Latin America
Figure 4.8: Total Users of Conversational Commerce Channels in Latin America (m), Split by 3 Key Countries, 2023-2028
ii. West Europe
4.1.3 Saturated Markets
i. Latin America
Figure 4.9: Total Spend across Each Conversational Commerce Channel in Mexico in 2023 ($)
ii. Indian Subcontinent
iii. Rest of Asia Pacific
iv. Africa & Middle East
4.1.4 Developing Markets
i. Latin America
ii. Central & East Europe
Figure 4.10: Total Spend over Conversational Commerce in 8 Key Countries in Central & East Europe ($m), 2023-2028
iii. Indian Subcontinent
iv. Rest of Asia Pacific
v. Africa & Middle East
Figure 4.11: Total Users of Conversational Commerce Channels in Africa & Middle East (m), Split by 9 Key Countries, 2023-2028
Table 4.12: Juniper Research Country Readiness Index Heatmap: North America
Table 4.13: Juniper Research Country Readiness Index Heatmap: Latin America
Table 4.14: Juniper Research Country Readiness Index Heatmap: West Europe
Table 4.15: Juniper Research Country Readiness Index Heatmap: Central & East Europe
Table 4.16: Juniper Research Country Readiness Index Heatmap: Far East & China
Table 4.17: Juniper Research Country Readiness Index Heatmap: Indian Subcontinent
Table 4.18: Juniper Research Country Readiness Index Heatmap: Rest of Asia Pacific
Table 4.19: Juniper Research Country Readiness Index Heatmap: Africa & Middle East

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