Chatbots Market Report | Chatbots Market
The global chatbots market is increasing significantly and is expected to reach USD 1,230 million by 2024, at a CAGR of 22.6%. The market growth is majorly driven by the rapid advancements in artificial intelligence coupled with the increasing popularity of messaging platforms, virtual assistants and mobile devices. Moreover, increasing capital investments in various end-use industries and the growing popularity of chatbots in the field of E-commerce is also driving the growth of the chatbots market.
Chatbots are the computer programmed dialogue systems that enable conversational automation and helps users to get engaged across digital touch points. Several virtual assistants are deployed on websites, mobile devices, and support seamless integration with assisted channels. It also offers effective customer service and results in reducing operational costs. Chatbots have the ability to generate the response according to user’s query. Natural language text is taken as an input, and then the application creates an answer which is most suitable to the input. This process is repeated and the conversation continues in the form of either text or speech.
Chatbots have wide range of applications in various end-user industries including healthcare, Retail, Banking, Financial Services, and Insurance (BFSI), Media & Entertainment, Travel & Tourism, and E-commerce. Chatbots in healthcare assists patients to enter their symptoms via chat, analyzes the symptoms, and helps identify a patient’s condition. Integrating chatbots in retail sector allows users to place an order, and by using certain commands, products can be added or removed. Moreover, chatbots also play an important role in media and entertainment as they assist people in browsing, selecting and buying tickets for their favorite events.
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|Target Nation: England|
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Last Update : 17 September 2018
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|Item Owner : Energias Market Research|
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