Global Chatbot Market 2018-2022 | Integration of Chatbots with Communication Channels to Boost Growth | Technavio

The global chatbot market is expected to post a CAGR of over 24% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report

Chatbots help connect different of marketing channels such as websites, SMS, and emails. In addition, chatbots integrated with conversational AI tools collect consumer data based on which a personalized experience is provided. The data also enables them to recognize human emotions such as anger, confusion, fear, and joy which helps enterprises to improve their customer care relationship. These advantages of chatbots will encourage investments in the industry, which in turn, will boost the market growth.

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As per Technavio, the integration of chatbots with communication channels will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.

Global Chatbot Market: Integration of Chatbots with Communication Channels

The rise of the internet, digitalization, and the adoption of mobile devices have changed the way people and companies interact. Any platform can be integrated with chatbots because they behave like omnichannel. For instance, Microsoft Bot Connector is a communication service that links bots with channels such as telecommunication applications, emails and others. Over the forecast period, as chatbots become monetized, there will be opportunities for the mass distribution of marketing and promotional materials using this channel. These factors will propel the growth of global chatbot market during the forecast period.

"The increased demand for web self-service and the focus on improving CRM are some other major factors that will boost market growth during the forecast period," says a senior analyst at Technavio.

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Global Chatbot Market: Segmentation Analysis

This market research report segments the global chatbot market by end-user (retail, BFSI, travel and hospitality, government, and others) and geographical regions (APAC, Americas, and EMEA).

The Americas region led the market share in 2017, followed by APAC and EMEA respectively. During the forecast period, the Americas region is expected to maintain its dominance over the global market. This is due to the high number of people using the internet for applications such as traveling, shopping, and more.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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