Conversational AI Market Growth 2021-2030 , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Conversational AI Market and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Conversational AI Market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region

The global conversational AI market anticipates reaching US$ 32billion by 2030, registering a compound annual growth rate (CAGR) of 19% during the forecast period from 2021-2030. The global conversational AI market size was estimated at ~US$5.72 billion in 2020. 

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Conversational AI consists of a set of technologies that enables automated messaging and speech applications. The technologies are used to build interaction between computers and humans.

Factors Influencing

Several factors have fueled the growth of the global conversational AI market, including rising demand for AI-powered customer support services, increasing adoption of artificial intelligence (AI) solutions in various segments for customer service. Moreover, continuously growing government investment in AI-based technologies would further boost the growth of the market during the analysis period. The market is witnessing the growing adoption of conversational AI tools/chatbots for enhancing the customer interaction experience. Moreover, the integration of chatbots for client engagement would potentially boost the growth of the global conversational AI market during the analysis period. 

On the contrary, the high deployment cost of AI-powered chatbots together with accuracy concerns related to the use of technology, would negatively impact the adoption of the technologies. Thus, it can impact the growth of the global conversational AI market during the forecast period. 

Regional Analysis

On the basis of region, North America is expected to hold the largest share of the global conversational AI market. The regional contribution is expected to develop due to the presence of prominent players such as Oracle Corporation, Google LLC, International Business Machines Corporation, and Microsoft Corporation in the region. Moreover, the market is witnessing a growing number of investments for advancements in machine learning and natural language processing (NLP) in the region. Thus, the rapid technological advancements and government initiatives to promote AI-based technologies would positively enhance the market growth during the analysis period. 

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Covid-19 Impact Analysis

The sudden onset of the COVID-19 pandemic negatively influenced the growth of IT infrastructure. This, in turn, impacted the growth of the overall market during the pandemic period. The decline in the market growth is attributed to the abrupt decrease in hardware supply and reduced manufacturing capacity. Businesses providing solutions and services also witnessed a temporary slowdown, which halted the overall activities. However, the growing use of collaborative applications, analytics, security solutions, and artificial intelligence (AI) is expected to recover the market growth during the analysis period. 

Market Segmentation

By Component

  • Platform
  • Services
  • Training and Consulting
  • System Integration and Testing
  • Support and Maintenance         

By Type

  • IVA
  • Chatbots

By Deployment Mode

  • On-Premises     
  • Cloud 

By Technology

  • ML and Deep Learning
  • NLP     
  • ASR

By End-User

  • BFSI
  • Retail & E-commerce
  • Healthcare & Life Science
  • Travel & Hospitality
  • Telecom
  • Media & Entertainment
  • Others

Based on region

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

Competitors in the Market

Report Customization:-

  • Amazon Web Services, Inc. 
  • Artificial Solutions Holding ASH AB
  • Baidu, Inc. 
  • Conversica Inc.
  • Haptik
  • IBM Corporation 
  • Microsoft Corporation 
  • Oracle Corporation
  • Google LLC
  • Other prominent players

Our market research provides vital intelligence on market size, business trends, industry structure, market share, and market forecasts that are essential to developing business plans and strategy.

A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.

The Study Explore COVID 19 Outbreak Impact Analysis

  • What should be entry strategies, countermeasures to economic impact, and marketing channels?
  • What are market dynamics?
  • What are challenges and opportunities?
  • What is economic impact on market?
  • What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?

Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis

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The study objectives of this report are:

  • To study and analyze the global market size (value & volume) by company, key regions/countries, products and application, history data, and forecast to 2025.
  • To understand the structure of market by identifying its various subsegments.
  • To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
  • Focuses on the key global manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
  • To analyze the growth trends, future prospects, and their contribution to the total market.
  • To project the value and volume of submarkets, with respect to key regions (along with their respective key countries).
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
  • To strategically profile the key players and comprehensively analyze their growth strategies.

Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.

Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam

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In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.

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Tags: Conversational AI Market, Conversational AI Market Size, Conversational AI Market Trend, Conversational AI market analysis

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