Global Conversational AI Market Reports give a Key study on the industry status of the Conversational AI Industry Manufacturer with the specific statistics, meaning, definition, SWOT Analysis, expert opinion, and recent development across the globe. The research report also covers the Market Size, Price, Sales, Revenue, Market share, Gross Margin, growth rate, and cost structure. The report aims to give an additional sample of the latest scenario, economic slowdown, and Covid-19 impact on overall Industry.
The global Conversational AI Market size was valued at USD 6.18 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 23.6% from 2022 to 2030.
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Conversational AI is a set of technologies that are meant to make it possible for computer programs to understand and reply naturally to voice and text commands from users. Also, conversational AI is a more advanced type of AI that lets people use touch, text, and gestures to communicate with gadgets, websites, and apps. Conversational AI is meant to be used with intelligent virtual agents or chatbots to make it faster and more reliable to deal with complex systems. Also, using conversational AI needs a mix of art and science to make a digital app that combines relevance, context, and personalization in interactions between humans and machines. Conversational AI combines methods for machine learning with processing of natural language. (NLP). NLP is made to work in a loop with machine learning to make AI systems better and better over time. Then, as the machine learns more, its program improves the quality of the answers it gives over time.
Competitive Landscape and Global Market Share Analysis:
Google (US), Microsoft (US), IBM (US), AWS (US), Baidu (China), Oracle (US), SAP (Germany), Nuance (US), Artificial Solutions (Spain), Conversica (US), Haptik (India), Rasa (Germany), Rulai (US), Avaamo (US), Kore.ai (US), Solvvy (US), Pypestream (US), Inbenta (US), Creative Virtual (UK) and Saarthi.ai (India)., and others., Others
Industry Development:
- In April 2021, Microsoft announced the acquisition of Nuance Communications, an artificial intelligence technology company, in an all-cash transaction of US$19.7 billion. Acquiring Nuance will expand Microsoft’s capabilities in speech recognition and transcription tech
- In January 2020, AWS made Amazon Lex chatbot integration available in Amazon Connect in the Asia Pacific (Sydney) AWS Region. The Amazon Lex chatbot can help users change passwords, call up requested account balances, and schedule appointments by issuing prompts instead of saying numbers from a list of options
- In September 2021, Baidu signed a strategic cooperation agreement with Zhonghua Gas, China’s leading gas operator, and service provider, to promote the digital and intelligent transformation of the energy and power industry with innovative solutions based on Baidu AI Cloud.
Market Segmentation:
By Component:
- Solutions
- Services
- Professional Services
- Training and Consulting
- System Integration and Implementation
- Support and Maintenance
By Type:
- Chatbots
- Intelligent Virtual Assistants (IVA)
By Deployment Mode:
- Cloud
- On-premises
By Organization Size:
- Large enterprises
- Small and medium-sized enterprises (SMEs)
By Mode of Integration
- Web-based
- App-based
- Telephonic
By Technology
- ML and Deep Learning
- Natural Language Processing (NLP)
- Automatic Speech Recognition (ASR)
By Business Function
- Sales and Marketing
- Finance
- HR
- Operations
- IT Service Management
By Vertical
- Banking Finance Services and Insurance (BFSI)
- Healthcare and Life Sciences
The report on the Conversational AI market covers the following region (country) analysis:
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- South America (Mexico, Brazil, Argentina, Columbia, Rest of South America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
Regional Insights:
By 2021, more than 31.2% of all income will come from North America. The market in this region is growing because new technologies are being used a lot and the demand for customer support services that use artificial intelligence is growing quickly. Also, most businesses in North America invest in new technology so they can meet and help their customers’ wants. Conversational AI is also in high demand because people are becoming more and more aware of their health. The healthcare business in North America is using augmented reality, virtual reality, robotics, and AI. This helps provide smart services and technologies for health care that is based on data, with a focus on prevention and teamwork.
Following are the major TOC of the Conversational AI Market:
Chapter 1: Conversational AI Market Overview
Chapter 2: Global Economic Impact on Industry
Chapter 3: Global Conversational AI Market Competition by Manufacturers
Chapter 4: Global Production, Profits (Value) by Region
Chapter 5: Global Supply (Production), Import, Export, Consumption, by Regions
Chapter 6: Global Price Trend by Type, Revenue (Value), Production
Chapter 7: Manufacturing Cost Analysis
Chapter 8: Global Market Analysis by Application
Chapter 9: Industrial Chain and Downstream Buyers, Sourcing Strategy
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Global Conversational AI Market Forecast
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Key Reasons to Purchase Conversational AI Market report:
The report provides a thorough examination of the manufacturing methods, as well as ideas to reduce development risk, major market growth challenges and strategic inputs to overcome the market threats.
In-depth market analysis and an overview of the global Conversational AI Market trend and commercial landscape are included in the report. In addition, the report discusses the effect of COVID-19 on the market.
Reader can acquire a better interpretation of the Conversational AI Market forecast’s future view and opportunities from the report.
The report contains an analysis of recent developments as well as profiles of important market leaders and key players.
To gain an understanding of the market strategies by the leading market players in the Conversational AI
The report analyses the most important driving and restraining factors in the industry, as well as their impact on global market growth.
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