The global conversational Artificial Intelligence (AI) market size reached USD 4.91 Billion in 2020 and is expected to register a CAGR of 22.6%, during the forecast period, according to latest analysis by Emergen Research. Rising demand for Artificial Intelligence-driven customer support services is expected to drive global conversational AI market revenue growth over the forecast period. Increasing implementation of conversational AI chatbots in the automotive industry is expected to augment global conversational AI market growth going ahead.
The latest research report by Emergen Research, named ‘Global Conversational Artificial Intelligence (AI) Market - Forecast to 2027’, entails a comprehensive review of the global Conversational Artificial Intelligence (AI) market’s present and future trends. Therefore, the report, published by Emergen Research, is a detail-oriented compilation of the crucial aspects of the Conversational Artificial Intelligence (AI) market, including the key players’ product offerings, the wide application range of these products, the major market segments, leading market contenders, their company profiles, pricing strategies, production capacities, revenue generation schemes, technological advancements, and many others. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe.
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Key insights presented in the report:
- Market revenue shares by major business players, by type, by application, and market scope of global Conversational Artificial Intelligence (AI) market
- Sales revenue by key players and new entrants
- Competitive analysis of key players, including aspects such as company overview, product or services specification, vendors, and buyers
- Recent mergers, acquisitions, product launches, recent investments, and joint ventures
Global Conversational Artificial Intelligence (AI) Market Segmentation:
Emergen Research has segmented the global conversational AI market on the basis of deployment, component, type, technology, end-use, and region:
- Deployment Outlook (Revenue, USD Billion; 2018–2028)
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Intelligent Virtual Assistants
- Technology Outlook (Revenue, USD Billion; 2018–2028)
- Natural Language Processing
- Automated Speech Recognition
- Machine Learning
- Deep Learning
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The key companies studied in the report are:
Google LLC, Microsoft Corporation, Oracle Corporation, International Business Machines Corporation, Baidu Inc., Nuance Communications Inc., SAP SE, Conversica Inc., Inbenta Technologies Inc., and Avaamo Inc.
Key Questions Addressed in the Report:
- Who are the leading players in the Conversational Artificial Intelligence (AI) industry?
- Which region is expected to dominate the market in the coming years?
- What are the key applications of Conversational Artificial Intelligence (AI)?
- Which segment is expected to garner traction during the coming years?
- What are the key strategies adopted by leading players in the market?
Region wise performance of the Conversational Artificial Intelligence (AI) industry
North America Conversational Artificial Intelligence (AI) market forecast is expected to remain significantly positive in terms of revenue share between 2020 and 2028. In addition, North America Conversational Artificial Intelligence (AI) market revenue share is expected to remain comparatively larger than that of other regional markets from 2020 to 2028.
Asia Pacific registered fastest revenue CAGR in 2020, and the Conversational Artificial Intelligence (AI) market forecast is that this trend is expected to continue going ahead. Market forecast states that revenue share contribution from China, India, and South Korea is expected to remain robust till 2028.
Europe Conversational Artificial Intelligence (AI) market forecast is positive currently, with revenue growth expected to remain steady between 2020 and 2028. Robust focus on research and development initiatives by major firms and changing trends and demographics in countries in the region are some factors expected to continue to support Conversational Artificial Intelligence (AI) market growth.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
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Table Of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Conversational Artificial Intelligence (AI) Market Segmentation & Impact Analysis
4.1. Conversational Artificial Intelligence (AI) Market Material Segmentation Analysis
4.2. Industrial Outlook
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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