The global Conversational Systems Market size was valued at US$5.94 billion in 2019 and is projected to grow at a CAGR of 26% from 2021 to 2027. Growth could be driven by growing demand for artificial intelligence (AI). ) Enhanced customer support service. Service automation is expected to witness significant growth over the forecast period as it provides users with the capabilities they need to perform their day-to-day tasks. AI-powered customer support services help businesses improve many aspects such as loyalty, online customer experience, preventive support, brand reputation and monetization. Rising advancements in Natural Language Processing (NLP) and conversational exchange tools are expected to accelerate market growth.

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Company Profile

Amazon Web Services, Inc.
Artificial Solutions
Baidu, Inc.
Conversica, Inc.
Google LLC
IBM Corporation
Microsoft Corporation
Nuance Communications, Inc.
Oracle Corporation
SAP SE

 

Market Segmentation

The following segmentation are covered in this report:

Based on Components

Compute Platforms
Solutions
Services

Based on Type

Voice Assisted
Text Assistant
Others (Gesture Recognition, Object Recognition and Expression Recognition)

Based on Applications

Customer Support and Personal Assistant
Branding and Advertisement
Data Privacy and Compliance
Others (Campaign Analysis and Data Aggregation)

Based on Verticals

BFSI
Media and Entertainment
Retail and eCommerce
Travel and Hospitality
Telecom
Healthcare and Life Sciences
Others (Government, Manufacturing, Education, and Energy and Utilities)


Scope of the Report

The research study analyzes the global Conversational Systems industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

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Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Conversational Systems Market Report

1. What was the Conversational Systems Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).

What will be the CAGR of Conversational Systems Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Conversational Systems Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.

 

The report covers the following objectives:

Proliferation and maturation of trade in the global Conversational Systems market.
The market share of the global Conversational Systems market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
Current and future market trends that are influencing the growth opportunities and growth rate of the global Conversational Systems market.
Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Conversational Systems market.


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