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Chatbots Market Insights - Global Analysis and Forecast by 2030
Market overview
Chatbots, also known as conversational agents 1, are computer programs that simulate and process human conversation, either written or spoken. They are used to conduct an online chat conversation via text or text-to-speech 2, in lieu of providing direct human interaction. Chatbots can be powered by rules, artificial intelligence or a combination of both. Their key function is to answer user questions and provide information or assistance via instant messages. Chatbots are becoming increasingly commonplace, in a variety of fields including customer service, healthcare, entertainment, and more. Some chatbots are capable of using natural language processing and machine learning to improve their responses and interactions with users.
WeChat (China), Facebook Inc. (US), Semantic machines (US), Talla (US), Digital genius (UK), Artificial solutions (Sweden), Nuance Communications Inc. (US), IBM (US), Howdy (US), Codebaby (Idavtars) Inc. (US), Speaktoit Inc. (US), Egain Corporation (US), NEXT IT Corp. (US), Creative virtual Pvt. Ltd. (UK), CX Company (Netherlands), 24/7 Customer Inc. (US).
Market segmentation
The Chatbots market has been segmented; based on type, deployment, usage and industry verticals.
Based on type: The Chatbots market is sub-segmented into- software and services based on type.
Based on deployment: Cloud and on-premise are the two sub-segments of the Chatbots market based on deployment.
Based on usage: The Chatbots are sub-segmented into websites, mobile platforms and social media under the segment of Usage.
Based on industry verticals: Government & hospitality, retail and e-commerce, BFSI are the different sub-segments of the Chatbots market in the category of industry verticals.
Regional classification
North America is a dominating region in the chatbots market among different regions like South America, Europe, Africa, Asia etc.
While North America holds the largest market share at the same point Asia pacific can be regarded as one of the fastest growing markets.
Industry news
The tax burden may decline for steel exporters.
PLI applications are available for telecom products.
Liquor prices may rise in Maharashtra.
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