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Global Conversational AI Market Size study, by Component (Platform and Services), Type (IVA and Chatbots), Technology (ML and Deep Learning, NLP, and ASR), Deployment Mode (Cloud and On-premises) and Regional Forecasts 2022-2028

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  • 200 Pages
  • June 2022
  • ICT & Media
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Global Conversational AI Market is valued approximately USD 6.18 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 23.60 % over the forecast period 2022-2028. Conversational AI is the technology used to provide automated messaging and speech enabled applications that offer human like interactions between computers and humans. The advanced technology recognizes speech and text, understands consumer intent and can decipher different languages. Conversational AI accounts for an important place in the personal assistance activities. Companies are utilizing AI innovation by using a blend of NLU and ML, which empowers the assistants to be trained with industry-explicit information and extraordinary business information for an increased time to market. The upcoming customer engagement through social media platforms and increasing integration of advanced AI capabilities are the major factors adding value to the conversational AI offerings. As per Venture Beat as of 2018 Facebook had over 300 thousand chatbots while approximately 3 billion messages were sent using automated messages in the same year. Further, increasing demand for AI powered customer support services drive the market growth owing to the save in operation costs. As per Chatbots magazine, chatbots can save up to 30% in customer support costs. However, the lack of accuracy in chatbots and virtual assistants impedes the growth of the market over the forecast period of 2022-2028. Although, rise in customer engagement through social media platforms presents a lucrative opportunity for the market.

The regional analysis of global Conversational AI Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology and presence of major market players in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2022-2028. Factors such as rising disposable income, rising population and increasing customer support demand would create lucrative growth prospects for the global Conversational AI Market across Asia-Pacific region.

Major market player included in this report are:

Microsoft Corporation

Google

Amazon Web Services

Oracle

IBM Corporation

Baidu

SAP

Artificial Solutions

Conversica

Haptik

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:

Platform

Services

By Type:

IVA

Chatbots

By Technology:

ML and Deep Learning

NLP

ASR

By Deployment Mode:

Cloud

On-premises

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019,2020

Base year – 2021

Forecast period – 2022 to 2028

Target Audience of the Global Conversational AI Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors

Chapter 1. Executive Summary

1.1. Market Snapshot

1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)

1.2.1. Conversational AI Market, by Region, 2020-2028 (USD Billion)

1.2.2. Conversational AI Market, by Component, 2020-2028 (USD Billion)

1.2.3. Conversational AI Market, by Type, 2020-2028 (USD Billion)

1.2.4. Conversational AI Market, by Technology, 2020-2028 (USD Billion)

1.2.5. Conversational AI Market, by Deployment Mode, 2020-2028 (USD Billion)

1.3. Key Trends

1.4. Estimation Methodology

1.5. Research Assumption

Chapter 2. Global Conversational AI Market Definition and Scope

2.1. Objective of the Study

2.2. Market Definition & Scope

2.2.1. Scope of the Study

2.2.2. Industry Evolution

2.3. Years Considered for the Study

2.4. Currency Conversion Rates

Chapter 3. Global Conversational AI Market Dynamics

3.1. Conversational AI Market Impact Analysis (2020-2028)

3.1.1. Market Drivers

3.1.1.1. Increasing demand for AI powered customer support services

3.1.1.2. Increasing integration of advanced AI capabilities

3.1.2. Market Challenges

3.1.2.1. Lack of accuracy in chatbots and virtual assistants

3.1.3. Market Opportunities

3.1.3.1. Rise in customer engagement through social media platforms

Chapter 4. Global Conversational AI Market Industry Analysis

4.1. Porter’s 5 Force Model

4.1.1. Bargaining Power of Suppliers

4.1.2. Bargaining Power of Buyers

4.1.3. Threat of New Entrants

4.1.4. Threat of Substitutes

4.1.5. Competitive Rivalry

4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)

4.2. PEST Analysis

4.2.1. Political

4.2.2. Economical

4.2.3. Social

4.2.4. Technological

4.3. Investment Adoption Model

4.4. Analyst Recommendation & Conclusion

4.5. Top investment opportunity

4.6. Top winning strategies

Chapter 5. Risk Assessment: COVID-19 Impact

5.1.1. Assessment of the overall impact of COVID-19 on the industry

5.1.2. Pre COVID-19 and post COVID-19 Market scenario

Chapter 6. Global Conversational AI Market, by Component

6.1. Market Snapshot

6.2. Global Conversational AI Market by Component, Performance - Potential Analysis

6.3. Global Conversational AI Market Estimates & Forecasts by Component 2018-2028 (USD Billion)

6.4. Conversational AI Market, Sub Segment Analysis

6.4.1. Platform

6.4.2. Services

Chapter 7. Global Conversational AI Market, by Type

7.1. Market Snapshot

7.2. Global Conversational AI Market by Type, Performance - Potential Analysis

7.3. Global Conversational AI Market Estimates & Forecasts by Type 2018-2028 (USD Billion)

7.4. Conversational AI Market, Sub Segment Analysis

7.4.1. IVA

7.4.2. Chatbots

Chapter 8. Global Conversational AI Market, by Technology

8.1. Market Snapshot

8.2. Global Conversational AI Market by Technology, Performance - Potential Analysis

8.3. Global Conversational AI Market Estimates & Forecasts by Technology 2018-2028 (USD Billion)

8.4. Conversational AI Market, Sub Segment Analysis

8.4.1. ML and Deep Learning

8.4.2. Natural Language Processing (NLP)

8.4.3. Automatic Speech Recognition (ASR)

Chapter 9. Global Conversational AI Market, by Deployment Mode

9.1. Market Snapshot

9.2. Global Conversational AI Market by Deployment Mode, Performance - Potential Analysis

9.3. Global Conversational AI Market Estimates & Forecasts by Deployment Mode 2018-2028 (USD Billion)

9.4. Conversational AI Market, Sub Segment Analysis

9.4.1. Cloud

9.4.2. On-premises

Chapter 10. Global Conversational AI Market, Regional Analysis

10.1. Conversational AI Market, Regional Market Snapshot

10.2. North America Conversational AI Market

10.2.1. U.S. Conversational AI Market

10.2.1.1. Component breakdown estimates & forecasts, 2018-2028

10.2.1.2. Type breakdown estimates & forecasts, 2018-2028

10.2.1.3. Technology breakdown estimates & forecasts, 2018-2028

10.2.1.4. Deployment Mode breakdown estimates & forecasts, 2018-2028

10.2.2. Canada Conversational AI Market

10.3. Europe Conversational AI Market Snapshot

10.3.1. U.K. Conversational AI Market

10.3.2. Germany Conversational AI Market

10.3.3. France Conversational AI Market

10.3.4. Spain Conversational AI Market

10.3.5. Italy Conversational AI Market

10.3.6. Rest of Europe Conversational AI Market

10.4. Asia-Pacific Conversational AI Market Snapshot

10.4.1. China Conversational AI Market

10.4.2. India Conversational AI Market

10.4.3. Japan Conversational AI Market

10.4.4. Australia Conversational AI Market

10.4.5. South Korea Conversational AI Market

10.4.6. Rest of Asia Pacific Conversational AI Market

10.5. Latin America Conversational AI Market Snapshot

10.5.1. Brazil Conversational AI Market

10.5.2. Mexico Conversational AI Market

10.6. Rest of The World Conversational AI Market

Chapter 11. Competitive Intelligence

11.1. Top Market Strategies

11.2. Company Profiles

11.2.1. Microsoft Corporation

11.2.1.1. Key Information

11.2.1.2. Overview

11.2.1.3. Financial (Subject to Data Availability)

11.2.1.4. Product Summary

11.2.1.5. Recent Developments

11.2.2. Google

11.2.3. Amazon Web Services

11.2.4. Oracle

11.2.5. IBM Corporation

11.2.6. Baidu

11.2.7. SAP

11.2.8. Artificial Solutions

11.2.9. Conversica

11.2.10. Haptik

Chapter 12. Research Process

12.1. Research Process

12.1.1. Data Mining

12.1.2. Analysis

12.1.3. Market Estimation

12.1.4. Validation

12.1.5. Publishing

12.2. Research Attributes

12.3. Research Assumption

List of Tables

TABLE 1. Global Conversational AI Market, report scope

TABLE 2. Global Conversational AI Market estimates & forecasts by Region 2018-2028 (USD Billion)

TABLE 3. Global Conversational AI Market estimates & forecasts by Component 2018-2028 (USD Billion)

TABLE 4. Global Conversational AI Market estimates & forecasts by Type 2018-2028 (USD Billion)

TABLE 5. Global Conversational AI Market estimates & forecasts by Technology 2018-2028 (USD Billion)

TABLE 6. Global Conversational AI Market estimates & forecasts by Deployment Mode 2018-2028 (USD Billion)

TABLE 7. Global Conversational AI Market by segment, estimates & forecasts, 2018-2028 (USD Billion)

TABLE 8. Global Conversational AI Market by region, estimates & forecasts, 2018-2028 (USD Billion)

TABLE 9. Global Conversational AI Market by segment, estimates & forecasts, 2018-2028 (USD Billion)

TABLE 10. Global Conversational AI Market by region, estimates & forecasts, 2018-2028 (USD Billion)

TABLE 11. Global Conversational AI Market by segment, estimates & forecasts, 2018-2028 (USD Billion)

TABLE 12. Global Conversational AI Market by region, estimates & forecasts, 2018-2028 (USD Billion)

TABLE 13. Global Conversational AI Market by segment, estimates & forecasts, 2018-2028 (USD Billion)

TABLE 14. Global Conversational AI Market by region, estimates & forecasts, 2018-2028 (USD Billion)

TABLE 15. Global Conversational AI Market by segment, estimates & forecasts, 2018-2028 (USD Billion)

TABLE 16. Global Conversational AI Market by region, estimates & forecasts, 2018-2028 (USD Billion)

TABLE 17. U.S. Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 18. U.S. Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 19. U.S. Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 20. Canada Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 21. Canada Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 22. Canada Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 23. UK Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 24. UK Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 25. UK Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 26. Germany Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 27. Germany Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 28. Germany Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 29. RoE Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 30. RoE Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 31. RoE Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 32. China Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 33. China Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 34. China Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 35. India Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 36. India Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 37. India Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 38. Japan Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 39. Japan Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 40. Japan Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 41. RoAPAC Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 42. RoAPAC Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 43. RoAPAC Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 44. Brazil Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 45. Brazil Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 46. Brazil Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 47. Mexico Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 48. Mexico Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 49. Mexico Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 50. RoLA Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 51. RoLA Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 52. RoLA Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 53. Row Conversational AI Market estimates & forecasts, 2018-2028 (USD Billion)

TABLE 54. Row Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 55. Row Conversational AI Market estimates & forecasts by segment 2018-2028 (USD Billion)

TABLE 56. List of secondary sources, used in the study of global Conversational AI Market

TABLE 57. List of primary sources, used in the study of global Conversational AI Market

TABLE 58. Years considered for the study

TABLE 59. Exchange rates considered

 
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