Global Conversational AI Market Analysis 2020

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The Global Conversational AI market is expected to reach $14.26 billion by 2026 growing at a CAGR of 19.9% from 2019 to 2026. Conversational AI is the utilization of speech-based assistance, messaging apps, chatbots to make the content to be automated. It also personalizes the user experience at a level. Conversational AI accounts for an important place in personal assistance activities. It can analyze the open interactions when relating it with the scenario or case. Companies are utilizing AI innovation by using a blend of NLU and ML, which empowers the assistants to be trained with industry-explicit information and extraordinary business information for an increased time to market.

Factors such as increasing demand for AI-powered customer support services and rising demand for AI-based chatbots to stay connected and informed during the COVID-19 are driving the market growth. However, lack of awareness about conversational AI solutions is hampering the market growth.

Based on component, the services segment is going to have a lucrative growth during the forecast period. This growth is primarily due to the wide adoption of conversational AI solutions across major verticals for offering enhanced customer support, thereby generating demand for professional and managed services across the globe. Most of the vendors in the market provide a conversational AI platform to build applications that resolve customer queries, provide advice and recommendations using NLP, and other dialog related technologies.

The key vendors mentioned are Amazon Web Services Inc, Artificial Solutions, Avaamo, AWS, Baidu, Conversica Inc, Google LLC, Haptik Inc, International Business Machines (IBM) Corporation, Microsoft Corporation, Nuance Communications Inc, Oracle Corporation, Rasa, SAP SE and Solvvy.

Types Covered:
• Chatbots
• Intelligent Virtual Assistants (IVA)
• Intelligent IVR System

Deployment Modes Covered:
• Cloud
• On-Premises

Components Covered:
• Services
• Platform

Services Covered:
• Consulting
• Support and Maintenance
• System Integration and Deployment
• Training

Technologies Covered:
• Automated Speech Recognition (ASR)
• Machine Learning (ML) and Deep Learning
• Natural Language Processing (NLP)

Applications Covered:
• Branding and Advertisement
• Customer Engagement and Retention
• Customer Support
• Data Privacy and Compliance
• Onboarding and Employee Engagement
• Personal Assistant
• Retention

End Users Covered:
• Automotive
• Banking, Financial Services, and Insurance
• Healthcare and Life Sciences
• Media and Entertainment
• Retail and E-commerce
• Telecom & IT
• Travel and Hospitality

Regions Covered:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Key Questions Answered in this Report:
• How this market evolved since the year 2018
• Market size estimations, forecasts and CAGR for all the segments presented in the scope
• Key Market Developments and financials of the key players
• Opportunity Analysis for the new entrants
• SWOT Analysis of the key players
• Fastest growing markets analyzed during the forecast period

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1 Market Synopsis

2 Research Outline
2.1 Research Snapshot
2.2 Research Methodology
2.3 Research Sources
2.3.1 Primary Research Sources
2.3.2 Secondary Research Sources

3 Market Dynamics
3.1 Drivers
3.2 Restraints

4 Market Environment
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Conversational AI Market, By Type
5.1 Introduction
5.2 Chatbots
5.3 Intelligent Virtual Assistants (IVA)
5.4 Intelligent IVR System

6 Global Conversational AI Market, By Deployment Mode
6.1 Introduction
6.2 Cloud
6.3 On-Premises

7 Global Conversational AI Market, By Component
7.1 Introduction
7.2 Services
7.3 Platform

8 Global Conversational AI Market, By Service
8.1 Introduction
8.2 Consulting
8.3 Support and Maintenance
8.4 System Integration and Deployment
8.5 Training

9 Global Conversational AI Market, By Technology
9.1 Introduction
9.2 Automated Speech Recognition (ASR)
9.3 Machine Learning (ML) and Deep Learning
9.4 Natural Language Processing (NLP)

10 Global Conversational AI Market, By Application
10.1 Introduction
10.2 Branding and Advertisement
10.3 Customer Engagement and Retention
10.4 Customer Support
10.5 Data Privacy and Compliance
10.6 Onboarding and Employee Engagement
10.7 Personal Assistant
10.8 Retention

11 Global Conversational AI Market, By End User
11.1 Introduction
11.2 Automotive
11.3 Banking, Financial Services, and Insurance
11.4 Healthcare and Life Sciences
11.5 Media and Entertainment
11.6 Retail and E-commerce
11.7 Telecom & IT
11.8 Travel and Hospitality

12 Global Conversational AI Market, By Geography
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia Pacific
12.5 South America
12.6 Middle East & Africa

13 Strategic Benchmarking

14 Vendors Landscape
14.1 Amazon Web Services Inc
14.2 Artificial Solutions
14.3 Avaamo
14.4 AWS
14.5 Baidu
14.6 Conversica Inc
14.7 Google LLC
14.8 Haptik Inc
14.9 International Business Machines (IBM) Corporation
14.10 Microsoft Corporation
14.11 Nuance Communications Inc
14.12 Oracle Corporation
14.13 Rasa
14.14 SAP SE
14.15 Solvvy

List of Data Tables
Table 1 Global Conversational AI Market Outlook, By Region (2018-2026) ($MN)
Table 2 Global Conversational AI Market Outlook, By Type (2018-2026) ($MN)
Table 3 Global Conversational AI Market Outlook, By Chatbots (2018-2026) ($MN)
Table 4 Global Conversational AI Market Outlook, By Intelligent Virtual Assistants (IVA) (2018-2026) ($MN)
Table 5 Global Conversational AI Market Outlook, By Intelligent IVR System (2018-2026) ($MN)
Table 6 Global Conversational AI Market Outlook, By Deployment Mode (2018-2026) ($MN)
Table 7 Global Conversational AI Market Outlook, By Cloud (2018-2026) ($MN)
Table 8 Global Conversational AI Market Outlook, By On-Premises (2018-2026) ($MN)
Table 9 Global Conversational AI Market Outlook, By Component (2018-2026) ($MN)
Table 10 Global Conversational AI Market Outlook, By Services (2018-2026) ($MN)
Table 11 Global Conversational AI Market Outlook, By Platform (2018-2026) ($MN)
Table 12 Global Conversational AI Market Outlook, By Service (2018-2026) ($MN)
Table 13 Global Conversational AI Market Outlook, By Consulting (2018-2026) ($MN)
Table 14 Global Conversational AI Market Outlook, By Support and Maintenance (2018-2026) ($MN)
Table 15 Global Conversational AI Market Outlook, By System Integration and Deployment (2018-2026) ($MN)
Table 16 Global Conversational AI Market Outlook, By Training (2018-2026) ($MN)
Table 17 Global Conversational AI Market Outlook, By Technology (2018-2026) ($MN)
Table 18 Global Conversational AI Market Outlook, By Automated Speech Recognition (ASR) (2018-2026) ($MN)
Table 19 Global Conversational AI Market Outlook, By Machine Learning (ML) and Deep Learning (2018-2026) ($MN)
Table 20 Global Conversational AI Market Outlook, By Natural Language Processing (NLP) (2018-2026) ($MN)
Table 21 Global Conversational AI Market Outlook, By Application (2018-2026) ($MN)
Table 22 Global Conversational AI Market Outlook, By Branding and Advertisement (2018-2026) ($MN)
Table 23 Global Conversational AI Market Outlook, By Customer Engagement and Retention (2018-2026) ($MN)
Table 24 Global Conversational AI Market Outlook, By Customer Support (2018-2026) ($MN)
Table 25 Global Conversational AI Market Outlook, By Data Privacy and Compliance (2018-2026) ($MN)
Table 26 Global Conversational AI Market Outlook, By Onboarding and Employee Engagement (2018-2026) ($MN)
Table 27 Global Conversational AI Market Outlook, By Personal Assistant (2018-2026) ($MN)
Table 28 Global Conversational AI Market Outlook, By Retention (2018-2026) ($MN)
Table 29 Global Conversational AI Market Outlook, By End User (2018-2026) ($MN)
Table 30 Global Conversational AI Market Outlook, By Automotive (2018-2026) ($MN)
Table 31 Global Conversational AI Market Outlook, By Banking, Financial Services, and Insurance (2018-2026) ($MN)
Table 32 Global Conversational AI Market Outlook, By Healthcare and Life Sciences (2018-2026) ($MN)
Table 33 Global Conversational AI Market Outlook, By Media and Entertainment (2018-2026) ($MN)
Table 34 Global Conversational AI Market Outlook, By Retail and E-commerce (2018-2026) ($MN)
Table 35 Global Conversational AI Market Outlook, By Telecom & IT (2018-2026) ($MN)
Table 36 Global Conversational AI Market Outlook, By Travel and Hospitality (2018-2026) ($MN)
Table 37 North America Conversational AI Market Outlook, By Type (2018-2026) ($MN)
Table 38 North America Conversational AI Market Outlook, By Deployment Mode (2018-2026) ($MN)
Table 39 North America Conversational AI Market Outlook, By Component (2018-2026) ($MN)
Table 40 North America Conversational AI Market Outlook, By Service (2018-2026) ($MN)
Table 41 North America Conversational AI Market Outlook, By Technology (2018-2026) ($MN)
Table 42 North America Conversational AI Market Outlook, By Application (2018-2026) ($MN)
Table 43 North America Conversational AI Market Outlook, By End User (2018-2026) ($MN)
Table 44 Europe Conversational AI Market Outlook, By Type (2018-2026) ($MN)
Table 45 Europe Conversational AI Market Outlook, By Deployment Mode (2018-2026) ($MN)
Table 46 Europe Conversational AI Market Outlook, By Component (2018-2026) ($MN)
Table 47 Europe Conversational AI Market Outlook, By Service (2018-2026) ($MN)
Table 48 Europe Conversational AI Market Outlook, By Technology (2018-2026) ($MN)
Table 49 Europe Conversational AI Market Outlook, By Application (2018-2026) ($MN)
Table 50 Europe Conversational AI Market Outlook, By End User (2018-2026) ($MN)
Table 51 Asia Pacific Conversational AI Market Outlook, By Type (2018-2026) ($MN)
Table 52 Asia Pacific Conversational AI Market Outlook, By Deployment Mode (2018-2026) ($MN)
Table 53 Asia Pacific Conversational AI Market Outlook, By Component (2018-2026) ($MN)
Table 54 Asia Pacific Conversational AI Market Outlook, By Service (2018-2026) ($MN)
Table 55 Asia Pacific Conversational AI Market Outlook, By Technology (2018-2026) ($MN)
Table 56 Asia Pacific Conversational AI Market Outlook, By Application (2018-2026) ($MN)
Table 57 Asia Pacific Conversational AI Market Outlook, By End User (2018-2026) ($MN)
Table 58 South America Conversational AI Market Outlook, By Type (2018-2026) ($MN)
Table 59 South America Conversational AI Market Outlook, By Deployment Mode (2018-2026) ($MN)
Table 60 South America Conversational AI Market Outlook, By Component (2018-2026) ($MN)
Table 61 South America Conversational AI Market Outlook, By Service (2018-2026) ($MN)
Table 62 South America Conversational AI Market Outlook, By Technology (2018-2026) ($MN)
Table 63 South America Conversational AI Market Outlook, By Application (2018-2026) ($MN)
Table 64 South America Conversational AI Market Outlook, By End User (2018-2026) ($MN)
Table 65 Middle East & Africa Conversational AI Market Outlook, By Type (2018-2026) ($MN)
Table 66 Middle East & Africa Conversational AI Market Outlook, By Deployment Mode (2018-2026) ($MN)
Table 67 Middle East & Africa Conversational AI Market Outlook, By Component (2018-2026) ($MN)
Table 68 Middle East & Africa Conversational AI Market Outlook, By Service (2018-2026) ($MN)
Table 69 Middle East & Africa Conversational AI Market Outlook, By Technology (2018-2026) ($MN)
Table 70 Middle East & Africa Conversational AI Market Outlook, By Application (2018-2026) ($MN)
Table 71 Middle East & Africa Conversational AI Market Outlook, By End User (2018-2026) ($MN)

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