Chatbot Market: Market Size, Trends and Growth Analysis

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The future of the global chatbot market looks promising with opportunities in BFSI, Media and entertainment, retail and ecommerce, travel and hospitality, telecom, healthcare and life services, and others. The global chatbot market is expected to grow with a CAGR of 29%-31% from 2021 to 2026. The major drivers for this market are increased awareness of chatbots, improvement of customer relationship management, and increased process efficiency.

Emerging trends, which have a direct impact on the dynamics of the industry, include technological advancements in chatbots, development of self-learning chatbots, and innovations in artificial intelligence.

A total of xx figures / charts and xx tables are provided in this more than 150 page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched, and other details of the global Chatbot market report, please download the report brochure.

The study includes trends and forecast for the global chatbot market by component, technology, usage, application, end user, and region, as follows:

By Component [Value ($ Million) from 2015 to 2026]:

Solutions
Services

By Technology [Value ($ Million) from 2015 to 2026]:

Machine Learning (ML)
Natural Language Processing (NLP)
Automated Speech Recognition (ASR)

By Usage [Value ($ Million) from 2015 to 2026]:

Websites
Contact Centers
Social Media
Mobile Platform

By Application [Value ($ Million) from 2015 to 2026]:

Customer Support
Personal Assistant
Branding and Advertisement
Customer Engagement and Retention
Data Privacy and Compliance
Onboarding and Employee Engagement
Others

By End User [Value ($ Million) from 2015 to 2026]:

Banking, Financial Services and Insurance (BFSI)
Media and Entertainment
Retail and eCommerce
Travel and Hospitality
Telecom
Healthcare and Life Sciences
Others

By Region [Value ($ Million) from 2015 to 2026]:

North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
APAC
China
India
Japan
ROW
Middle East
Brazil

Some of the Chatbot companies profiled in this report include IBM Corporation, Nuance Communications, Google LLC, Amazon Web Services, Artificial Solutions, Inbenta Technologies, SmartBots, Contus, CogniCor Technologies, Conversica.

Lucintel forecasts that website will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to the increasing adoption of chatbots by various companies and businesses to collect feedbacks, record changes in the purchase patterns, track customer data, and offer instant response to customers’ queries.

Within the global chatbot market, the retail and ecommerce segment is expected to witness the highest growth over the forecast period due to the increasing adoption of chatbot applications by retail companies on their official websites to provide excellent customer experience and solve customer queries. Moreover, the swift shift in customers’ demand towards e-shopping and the growing usage of smart devices, such as smartphones, tablets, and laptops, will further enhance the segment’s growth.

APAC is expected to remain the largest market and witness the highest growth over the forecast period due to the leveraging information-intensive AI technologies, especially in the developing countries, including China, Singapore, India, and Japan, heavy investments in chatbots and machine learning technology by various startups, and the rising usage of chatbots by small and medium-sized enterprises to improve customer engagement.

Features of the Global Chatbot Market

Market Size Estimates: Global chatbot market size estimation in terms of value ($M) shipment.
Trend and Forecast Analysis: Market trends (2015-2020) and forecast (2021-2026) by various segments.
Segmentation Analysis: Global chatbot market size by various segments, such as by component, technology, usage, application and end user in terms of value
Regional Analysis: Global chatbot market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different by component, technology, usage, application, end user and regions for the global chatbot market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the global chatbot market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

This report answers following 11 key questions

Q.1 What are some of the most promising growth opportunities for the global chatbot market by component (solutions and services), technology (machine learning, natural language processing and automated speech recognition), usage (websites, contact centers, social media and mobile platform), application (customer support, personal assistant, branding and advertisement, customer engagement and retention, data privacy and compliance, onboarding and employee engagement and other), end user (BFSI, Media and entertainment, retail and ecommerce, travel and hospitality, telecom, healthcare and life services and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?
Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.11 What M & A activity did occur in the last five years?

Report Scope

Key Features	Description
Base Year for Estimation	2020
Trend Period (Actual Estimates)	2015-2020
Forecast Period	2021-2026
Pages	210
Market Representation / Units	Revenue in US $ Million
Regional Scope	North America (USA, Mexico, and Canada), Europe (Germany and United Kingdom), Asia (China, Japan, and India), and ROW (Middle East and Brazil)
Report Coverage	Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger, Acquisitions & Joint Venture, and Company Profiling
Market Segments	Component (Solutions and Services), Technology (Machine Learning, Natural Language Processing and Automated Speech Recognition), Usage (Websites, Contact Centers, Social Media and Mobile Platform), Application (Customer Support, Personal Assistant, Branding and Advertisement, Customer Engagement and Retention, Data Privacy and Compliance, Onboarding and Employee Engagement and Other), End User (BFSI, Media And Entertainment, Retail And Ecommerce, Travel and Hospitality, Telecom, Healthcare And Life Services and Others)
Customization	10% Customization without Any Additional Cost

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Table of Contents

1. Executive Summary

2. Market Background and Classifications

2.1: Introduction, Background, and Classifications

2.2: Supply Chain

2.3: Industry Drivers and Challenges

3. Market Trends and Forecast Analysis from 2015 to 2026

3.1: Macroeconomic Trends (2015-2020) and Forecast (2021-2026)

3.2: Global Chatbot Market Trends (2015-2020) and Forecast (2021-2026)

3.3: Global Chatbot Market by Component

3.3.1: Solutions

3.3.2: Services

3.4: Global Chatbot Market by Technology

3.4.1: Machine Learning

3.4.2: Natural Language Processing

3.4.3: Automated Speech Recognition

3.5: Global Chatbot Market by Usage

3.5.1: Websites

3.5.2: Contact Centers

3.5.3: Social Media

3.5.4: Mobile Platform

3.6: Global Chatbot Market by Application

3.6.1: Customer Support

3.6.2: Personal Assistant

3.6.3: Branding and Advertisement

3.6.4: Customer Engagement and Retention

3.6.5: Data Privacy and Compliance

3.6.6: Onboarding

3.6.7: Employee Engagement

3.6.8: Other

3.7: Global Chatbot Market by End User

3.7.1: BFSI

3.7.2: Media And Entertainment

3.7.3: Retail And Ecommerce

3.7.4: Travel and Hospitality

3.7.5: Telecom

3.7.6: Healthcare And Life Services

3.7.7: Others

4. Market Trends and Forecast Analysis by Region from 2015 to 2026

4.1: Global Chatbot Market by Region

4.2: North American Chatbot Market

4.2.1: Market by Component: Solutions and Services

4.2.2: Market by Technology: Machine Learning, Natural Language Processing and Automated Speech Recognition

4.2.3: Market by Usage: Websites, Contact Centers, Social Media and Mobile Platform

4.2.4: Market by Application: Customer Support, Personal Assistant, Branding and Advertisement, Customer Engagement and Retention, Data Privacy and Compliance, Onboarding and Employee Engagement and Other

4.2.5: Market by End User: BFSI, Media And Entertainment, Retail And Ecommerce, Travel and Hospitality, Telecom, Healthcare And Life Services and Others

4.2.6: The US Chatbot Market

4.2.7: The Canadian Chatbot Market

4.2.8: The Mexican Chatbot Market

4.3: European Chatbot Market

4.3.1: Market by Component: Solutions and Services

4.3.2: Market by Technology: Machine Learning, Natural Language Processing and Automated Speech Recognition

4.3.3: Market by Usage: Websites, Contact Centers, Social Media and Mobile Platform

4.3.4: Market by Application: Customer Support, Personal Assistant, Branding and Advertisement, Customer Engagement and Retention, Data Privacy and Compliance, Onboarding and Employee Engagement and Other

4.3.5: Market by End User: BFSI, Media And Entertainment, Retail And Ecommerce, Travel and Hospitality, Telecom, Healthcare And Life Services and Others

4.3.6: German Chatbot Market

4.3.7: United Kingdom Chatbot Market

4.3.8: French Chatbot Market

4.3.9: Italian Chatbot Market

4.4: APAC Chatbot Market

4.4.1: Market by Component: Solutions and Services

4.4.2: Market by Technology: Machine Learning, Natural Language Processing and Automated Speech Recognition

4.4.3: Market by Usage: Websites, Contact Centers, Social Media and Mobile Platform

4.4.4: Market by Application: Customer Support, Personal Assistant, Branding and Advertisement, Customer Engagement and Retention, Data Privacy and Compliance, Onboarding and Employee Engagement and Other

4.4.5: Market by End User: BFSI, Media And Entertainment, Retail And Ecommerce, Travel and Hospitality, Telecom, Healthcare And Life Services and Others

4.4.6: Chinese Chatbot Market

4.4.7: Japanese Chatbot Market

4.4.8: Indian Chatbot Market

4.4.9: South Korean Chatbot Market

4.5: ROW Chatbot Market

4.5.1: Market by Component: Solutions and Services

4.5.2: Market by Technology: Machine Learning, Natural Language Processing and Automated Speech Recognition

4.5.3: Market by Usage: Websites, Contact Centers, Social Media and Mobile Platform

4.5.4: Market by Application: Customer Support, Personal Assistant, Branding and Advertisement, Customer Engagement and Retention, Data Privacy and Compliance, Onboarding and Employee Engagement and Other

4.5.5: Market by End User: BFSI, Media And Entertainment, Retail And Ecommerce, Travel and Hospitality, Telecom, Healthcare And Life Services and Others

4.5.6: Middle East Chatbot Market

4.5.7: Brazilian Chatbot Market

5. Competitor Analysis

5.1: Product Portfolio Analysis

5.2: Geographical Reach

5.3: Porter’s Five Forces Analysis

6. Growth Opportunities and Strategic Analysis

6.1: Growth Opportunity Analysis

6.1.1: Growth Opportunities for the Global Chatbot Market by Component

6.1.2: Growth Opportunities for the Global Chatbot Market by Technology

6.1.3: Growth Opportunities for the Global Chatbot Market by Usage

6.1.4: Growth Opportunities for the Global Chatbot Market by Application

6.1.5: Growth Opportunities for the Global Chatbot Market by End User

6.1.6: Growth Opportunities for the Global Chatbot Market by Region

6.2: Emerging Trends in the Global Chatbot Market

6.3: Strategic Analysis

6.3.1: New Product Development

6.3.2: Capacity Expansion of the Global Chatbot Market

6.3.3: Technology Development

6.3.4: Mergers and Acquisitions in the Global Chatbot Market

7. Company Profiles of Leading Players

7.1: IBM Corporation

7.2: Nuance Communications

7.3: Google LLC

7.4: Amazon Web Services

7.5: Artificial Solutions

7.6: Inbenta Technologies

7.7: SmartBots

7.8: Contus

7.9: CogniCor Technologies

7.10: Conversica Linamar Corporation

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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:

In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.

Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.

Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.

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