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AI Chatbots Market: Revenue Growth is Making Market Explosive
AI Chatbots Market Latest Edition Published with Forecast to 2027- Oct 22, 2021
- Robotics & Automation
According the report, Rapid Development of Conversational AI Chatbots is one of the primary growth factors for the market. Growing Prevalence of Voice-Based Software
is also expected to contribute significantly to the AI Chatbots market. Overall, applications of AI Chatbots, and the growing awareness of them, is what makes this segment of the industry important to its overall growth.
AMA’s Analyst on the Global AI Chatbots market identified that the demand is rising in many different parts of the world as "AI Chatbots are Cost-Effective than Hiring an Employee ". Furthermore, some recent industry insights like "In May 2021 LivePerson released a statement announcing the new 360° partnership with Infosys. Infosys is investing in and scaling a service practice to help LivePerson bring its Conversational Cloud to the market and sustain it, as well as aiding LivePerson in transforming its technical infrastructure on the public cloud to meet the growing demand for conversational experiences. By combining Infosys Cobalt, a platform and set of functions for advancing a company's journey into the cloud, with LivePerson's Conversational Cloud, a complete set of apps and APIs for creating and maintaining communicative experiences, the partnership will enable brands to unlock significant growth." is constantly making the industry dynamic. One of the challenges that industry facing is "AI Chatbots are Unable to Recognise Accents or Cultural Dialects, Chatbots Frequently Fail to Execute Inaccurate Command and Customer Queries are Often Misinterpreted by AI Chatbots"
The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global AI Chatbots market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market
Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the AI Chatbots market and other related sub-markets covered in the study.
o Key & emerging players in the AI Chatbots market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
The overall AI Chatbots market size is calculated using market estimation process, the AI Chatbots market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global AI Chatbots market size has been validated using both top-down and bottom-up approaches.
AMA’s Analyst on the Global AI Chatbots market identified that the demand is rising in many different parts of the world as "AI Chatbots are Cost-Effective than Hiring an Employee ". Furthermore, some recent industry insights like "In May 2021 LivePerson released a statement announcing the new 360° partnership with Infosys. Infosys is investing in and scaling a service practice to help LivePerson bring its Conversational Cloud to the market and sustain it, as well as aiding LivePerson in transforming its technical infrastructure on the public cloud to meet the growing demand for conversational experiences. By combining Infosys Cobalt, a platform and set of functions for advancing a company's journey into the cloud, with LivePerson's Conversational Cloud, a complete set of apps and APIs for creating and maintaining communicative experiences, the partnership will enable brands to unlock significant growth." is constantly making the industry dynamic. One of the challenges that industry facing is "AI Chatbots are Unable to Recognise Accents or Cultural Dialects, Chatbots Frequently Fail to Execute Inaccurate Command and Customer Queries are Often Misinterpreted by AI Chatbots"
The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global AI Chatbots market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market
Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the AI Chatbots market and other related sub-markets covered in the study.
o Key & emerging players in the AI Chatbots market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
The overall AI Chatbots market size is calculated using market estimation process, the AI Chatbots market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global AI Chatbots market size has been validated using both top-down and bottom-up approaches.
Craig Francis
PR & Marketing Manager