The Global Chatbot Market size accounted for USD 521 Million in 2021 and is expected to reach USD 3,411 Million by 2030 growing at a CAGR of 23.7% during the forecast period from 2022 to 2030.
The growth of the chatbot market is being driven by the advancement of artificial intelligence (AI) technology and the increase in online and retail purchasing worldwide. Furthermore, technological breakthroughs, raising customer demand for self-service and a growing need for 24*7 support desks at a lower operational cost are expected to drive chatbot market growth.
Chatbots are interactive software that connects with the audience via platforms such as WhatsApp, Skype, Facebook Messenger, and WeChat by using text as a means of communication. The basic goal of chatbots is to engage with humans in a human-like manner. Chatbots have been supporting individuals in a variety of sectors and industries, including retail, tourism, and e-commerce, among others. They are also known as virtual assistants who understand human capabilities. Bots interpret process requests and user intent and respond in real-time. A chatbot is a more practical and cost-effective one-time investment than developing specific cross-platform software or hiring more employees. Furthermore, chatbots can also assist in lowering the cost of difficulties caused by human mistakes.
Chatbot Market Drivers
- The rise of instant messaging platforms
- Improved customer service
- Cost savings on chatbot development
- Increasing usage of chatbots for advertising and promotion
- Continuing to increase investments in chatbot technology by SME
Chatbot Market Restraints
- Lack of understanding among businesses
- Concerns regarding security and privacy
Chatbot Market Opportunity
- The growing use of chatbots in the e-commerce sector
- Significant advances in AI, NLP, and cloud computing technologies
Report Coverage
| Market |
Chatbot Market |
| Market Size 2021 |
USD 521 Million |
| Market Forecast 2030 |
USD 3,411 Million |
| CAGR During 2022 - 2030 |
23.7% |
| Analysis Period |
2018 - 2030 |
| Base Year |
2021 |
| Forecast Data |
2022 - 2030 |
| Segments Covered |
By Type, By Application, By Product Landscape, By End-User, And By Geography
|
| Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled |
Facebook, Inc., Pandorabots, Inc., ToyTalk (PullString Inc.), Google, Inc., Yahoo Inc., Haptik, Inc., Helpshift, Kasisto Inc., Slack Technologies, Inc., Astute Solutions, Kiwi, Inc., and Microsoft Corporation. |
Report Coverage
|
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
| Customization Scope |
10 hrs of free customization and expert consultation
|
Chatbot Market Dynamics
Rapid digitalization throughout industries, as well as increased demand for high-quality customer care teams across organizations, is one of the major factors driving chatbot market expansion. Chatbots are used to resolve client difficulties in a variety of businesses, including information technology (IT), banking, financial services and insurance (BFSI), e-commerce, telecommunications, and healthcare. BFSI organizations, for example, deploy chatbots to assist users with fund transfers, balance monitoring, account setup, and money-saving. Furthermore, rising consumer usage of over-the-top (OTT) networking and communication website applications, particularly among millennials, is driving market expansion. In addition, various recent technological advancements, such as the incorporation of advanced analytics, blockchain, machine learning (ML), and cloud computing technologies necessary in the development of self-learning chatbots, are also propelling chatbot market value. These intelligent bots can respond to varied digital environments and provide a human-like conversational experience by learning from the user's actions, experiences, and judgments.
Increasing acceptance for intelligent customer engagement, the rising concentration of website and mobile applications, growing incorporation of a chatbot with social networking sites, natural language processing (NLP), improvement of artificial intelligence (AI), single search hyperlink, and the increasing requirement for many languages customer support are some of the key drivers driving the global chatbot market size.
Chatbot Market Segmentation
The global chatbot market segmentation based on the type, application, product landscape, end-user and geography.
Chatbot Market By Type
- Standalone
- Web-based
- Third party/Messenger-based
In terms of type, the standalone sector held the greatest market share in 2021. This trend can be attributed to users' demand for visual assistant solutions in standalone messaging services, such as Amazon's Alexa, Google Home, and Apple's Siri. Standalone bots are ideal for creating brief campaigns for clients, such as a fun marketing inquiry. A standalone bot is a great way to enhance lead generation at specific events like sales conferences, networking exhibitions, or webinars. Effectively giving out personally identifiable information is more enjoyable than filling out a dull web form by personalizing the chatbot material for the occasion. However, as a result of this factor, this segment is projected to dominate the chatbot industry.
Chatbot Market By Application
- Bots for Social Media
- Bots for Service
- Bots for Marketing
- Bots for Payments/ Order processing
- Others
Based on the application, bots for the service industry will grow at the fastest rate in the market over the next few years. This growth can be attributed to its beneficial qualities for businesses, which include faster chat response times, personalization, less customer care agent work, more customer satisfaction, 24/7 accessibility, and many more. Chatbots in corporations will significantly cut labor costs by automating a portion of customer care and marketing, resulting in significant savings for businesses. Chatbots can be a highly useful tool for creating strong ties with clients. As a result, the bot for services segment in the IT and BFSI industries would expand significantly and increase the chatbot market shares over the forecasting years.
Chatbot Market By Product Landscape
- Artificial Intelligence
- Marketing
- Human Intelligence
Based on the product landscape, the artificial intelligence market will grow at the fastest rate over the next few years. As a result of increased expenditure by financial institutions in the artificial chatbots market, artificial intelligence chatbots are projected to gain traction in the industry. These actions were carried out in order to convert more customers and expand the customer database. Chatbots use artificial intelligence to analyze dialogue and engage with users (AI). Several chatbots for messaging platforms such as Facebook, Whatsapp, Telegram, and other social media and networking sites have been developed. Chatbot developers can directly link electronic purchases with assistance and use these electronic mediums for cashless ordering.
Chatbot Market By End-user
- Healthcare
- BFSI
- Retail
- Travel & Tourism
- Media and Entertainment
- E-commerce
- Others
According to the chatbot market forecast, the healthcare category would grow significantly in the global market. This is because chatbot services are increasingly being used in the medical and health care sectors. These online services can aid the healthcare industry by providing customers with health-related information, organizing appointments with doctors and specialists, and providing patients with diagnostic procedures. The focus of major manufacturers is on developing powerful customized chatbots for the healthcare infrastructure. Furthermore, these systems handle billing and insurance claims, provide 24/7 assistance and encouragement to Medicare beneficiaries, and provide inventory control, all of which contribute to their increased use in the healthcare industry.
Chatbot Market Regional Outlook
North America
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Latin America
- Mexico
- Brazil
- Rest of Latin America
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
The Middle East & Africa (MEA)
- Gulf Cooperation Council (GCC)
- South Africa
- Rest of the Middle East & Africa
North America is expected to emerge as the market's prominent region throughout the forecast period. The region's rise is mostly due to the increased use of chatbots in a range of industry verticals such as IT, healthcare, BSFI, and government. Furthermore, the rising usage of artificial intelligence, IoT, and APIs, among other rapidly evolving technologies, is aiding the regional market's expansion. Chatbots are increasingly being utilized in conjunction with these technologies to improve operations, fueling market demand. The size of the North American chatbot industry is mostly due to the presence of key players such as Microsoft, IBM, Livechat Inc., Facebook, and others. These companies are focused on executing various business plans, such as product launches, in order to increase their global presence.
Chatbot Market Player
Some of the prominent global chatbot market companies are Facebook, Inc., Pandorabots, Inc., ToyTalk (PullString Inc.), Google, Inc., Yahoo Inc., Haptik, Inc., Helpshift, Kasisto Inc., Slack Technologies, Inc., Astute Solutions, Kiwi, Inc., and Microsoft Corporation.
CHAPTER 1. Industry Overview of Chatbot Market
1.1. Definition and Scope
1.1.1. Definition of Chatbot
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Chatbot Market
1.2. Summary
1.2.1. Executive Summary
1.2.2. Chatbot Market By Type
1.2.3. Chatbot Market By Application
1.2.4. Chatbot Market By Product Landscape
1.2.5. Chatbot Market By End-user
1.2.6. Chatbot Market By Region
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Source
2.2.2. Primary Source
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restraint 1
3.2.2. Restraint 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Chatbot Market
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Chatbot Market
3.7. Value Chain Analysis
3.7.1. List of Key Manufacturers
3.7.2. List of Customers
3.7.3. Level of Integration
3.8. Cost Structure Analysis
3.8.1. Price Trend of Key Raw Materials
3.8.2. Raw Material Suppliers
3.9. Regulatory Compliance
3.10. Competitive Landscape, 2021
3.10.1. Player Positioning Analysis
3.10.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Manufacturing Plant Analysis
4.1. Manufacturing Plant Location and Establish Date of Major Manufacturers in 2021
4.2. R&D Status of Chatbot Major Manufacturers in 2021
CHAPTER 5. Chatbot Market By Type
5.1. Introduction
5.2. Chatbot Market Revenue By Type
5.2.1. Chatbot Market Revenue (USD Million) and Forecast, By Type, 2018-2030
5.2.2. Standalone
5.2.2.1. Standalone Market Revenue (USD Million) and Growth Rate (%), 2018-2030
5.2.3. Web-based
5.2.3.1. Web-based Market Revenue (USD Million) and Growth Rate (%), 2018-2030
5.2.4. Third party/Messenger-based
5.2.4.1. Third party/Messenger-based Market Revenue (USD Million) and Growth Rate (%), 2018-2030
CHAPTER 6. Chatbot Market Revenue By Application
6.1. Introduction
6.2. Chatbot Market Revenue (USD Million)By Application
6.2.1. Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
6.2.2. Bots for Social Media
6.2.2.1. Bots for Social Media Market Revenue (USD Million) and Growth Rate (%), 2018-2030
6.2.3. Bots for Service
6.2.3.1. Bots for Service Market Revenue (USD Million) and Growth Rate (%), 2018-2030
6.2.4. Bots for Marketing
6.2.4.1. Bots for Marketing Market Revenue (USD Million) and Growth Rate (%), 2018-2030
6.2.5. Bots for Payments/ Order processing
6.2.5.1. Bots for Payments/ Order processing Market Revenue (USD Million) and Growth Rate (%), 2018-2030
6.2.6. Others
6.2.6.1. Others Market Revenue (USD Million) and Growth Rate (%), 2018-2030
CHAPTER 7. Chatbot Market Revenue By Product Landscape
7.1. Introduction
7.2. Chatbot Market Revenue (USD Million) By Product Landscape
7.2.1. Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
7.2.2. Artificial Intelligence
7.2.2.1. Artificial Intelligence Market Revenue (USD Million) and Growth Rate (%), 2018-2030
7.2.3. Marketing
7.2.3.1. Marketing Market Revenue (USD Million) and Growth Rate (%), 2018-2030
7.2.4. Human Intelligence
7.2.4.1. Human Intelligence Market Revenue (USD Million) and Growth Rate (%), 2018-2030
CHAPTER 8. Chatbot Market Revenue By End-user
8.1. Introduction
8.2. Chatbot Market Revenue (USD Million) By End-user
8.2.1. Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
8.2.2. Healthcare
8.2.2.1. Healthcare Market Revenue (USD Million) and Growth Rate (%), 2018-2030
8.2.3. BFSI
8.2.3.1. BFSI Market Revenue (USD Million) and Growth Rate (%), 2018-2030
8.2.4. Retail
8.2.4.1. Retail Market Revenue (USD Million) and Growth Rate (%), 2018-2030
8.2.5. Travel & Tourism
8.2.5.1. Travel & Tourism Market Revenue (USD Million) and Growth Rate (%), 2018-2030
8.2.6. Media and Entertainment
8.2.6.1. Media and Entertainment Market Revenue (USD Million) and Growth Rate (%), 2018-2030
8.2.7. E-commerce
8.2.7.1. E-commerce Market Revenue (USD Million) and Growth Rate (%), 2018-2030
8.2.8. Others
8.2.8.1. Others Market Revenue (USD Million) and Growth Rate (%), 2018-2030
CHAPTER 9. North America Chatbot Market By Country
9.1. North America Chatbot Market Overview
9.2. U.S.
9.2.1. U.S. Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
9.2.2. U.S. Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
9.2.3. U.S. Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
9.2.4. U.S. Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
9.3. Canada
9.3.1. Canada Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
9.3.2. Canada Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
9.3.3. Canada Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
9.3.4. Canada Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
9.4. North America PEST Analysis
CHAPTER 10. Europe Chatbot Market By Country
10.1. Europe Chatbot Market Overview
10.2. U.K.
10.2.1. U.K. Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
10.2.2. U.K. Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
10.2.3. U.K. Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
10.2.4. U.K. Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
10.3. Germany
10.3.1. Germany Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
10.3.2. Germany Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
10.3.3. Germany Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
10.3.4. Germany Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
10.4. France
10.4.1. France Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
10.4.2. France Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
10.4.3. France Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
10.4.4. France Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
10.5. Spain
10.5.1. Spain Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
10.5.2. Spain Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
10.5.3. Spain Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
10.5.4. Spain Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
10.6. Rest of Europe
10.6.1. Rest of Europe Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
10.6.2. Rest of Europe Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
10.6.3. Rest of Europe Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
10.6.4. Rest of Europe Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
10.7. Europe PEST Analysis
CHAPTER 11. Asia-Pacific Chatbot Market By Country
11.1. Asia-Pacific Chatbot Market Overview
11.2. China
11.2.1. China Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
11.2.2. China Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
11.2.3. China Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
11.2.4. China Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
11.3. Japan
11.3.1. Japan Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
11.3.2. Japan Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
11.3.3. Japan Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
11.3.4. Japan Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
11.4. India
11.4.1. India Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
11.4.2. India Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
11.4.3. India Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
11.4.4. India Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
11.5. Australia
11.5.1. Australia Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
11.5.2. Australia Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
11.5.3. Australia Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
11.5.4. Australia Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
11.6. South Korea
11.6.1. South Korea Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
11.6.2. South Korea Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
11.6.3. South Korea Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
11.6.4. South Korea Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
11.7. Rest of Asia-Pacific
11.7.1. Rest of Asia-Pacific Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
11.7.2. Rest of Asia-Pacific Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
11.7.3. Rest of Asia-Pacific Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
11.7.4. Rest of Asia-Pacific Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
11.8. Asia Pacific PEST Analysis
CHAPTER 12. Latin America Chatbot Market By Country
12.1. Latin America Chatbot Market Overview
12.2. Brazil
12.2.1. Brazil Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
12.2.2. Brazil Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
12.2.3. Brazil Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
12.2.4. Brazil Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
12.3. Mexico
12.3.1. Mexico Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
12.3.2. Mexico Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
12.3.3. Mexico Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
12.3.4. Mexico Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
12.4. Rest of Latin America
12.4.1. Rest of Latin America Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
12.4.2. Rest of Latin America Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
12.4.3. Rest of Latin America Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
12.4.4. Rest of Latin America Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
12.5. Latin America PEST Analysis
CHAPTER 13. Middle East & Africa Chatbot Market By Country
13.1. Middle East & Africa Chatbot Market Overview
13.2. GCC
13.2.1. GCC Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
13.2.2. GCC Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
13.2.3. GCC Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
13.2.4. GCC Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
13.3. South Africa
13.3.1. South Africa Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
13.3.2. South Africa Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
13.3.3. South Africa Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
13.3.4. South Africa Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
13.4. Rest of Middle East & Africa
13.4.1. Rest of Middle East & Africa Chatbot Market Revenue (USD Million) and Forecast By Type, 2018-2030
13.4.2. Rest of Middle East & Africa Chatbot Market Revenue (USD Million) and Forecast By Application, 2018-2030
13.4.3. Rest of Middle East & Africa Chatbot Market Revenue (USD Million) and Forecast By Product Landscape, 2018-2030
13.4.4. Rest of Middle East & Africa Chatbot Market Revenue (USD Million) and Forecast By End-user, 2018-2030
13.5. Middle East & Africa PEST Analysis
CHAPTER 14. Player Analysis Of Chatbot
14.1. Chatbot Company Share Analysis
14.2. Competition Matrix
14.2.1. Competitive Benchmarking of Key Players by Price, Presence, Market Share, and R&D Investment
14.2.2. Product Launches and Product Enhancements
14.2.3. Mergers And Acquisition In Global Chatbot Market
14.2.4. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
CHAPTER 15. Company Profile
15.1. Facebook, Inc.
15.1.1. Company Snapshot
15.1.2. Business Overview
15.1.3. Financial Overview
15.1.3.1. Market Revenue (USD Million), 2021
15.1.3.2. Facebook, Inc. 2021 Chatbot Business Regional Distribution
15.1.4. Product/service and Specification
15.1.5. Recent Developments & Business Strategy
15.2. Pandorabots, Inc.
15.3. ToyTalk (PullString Inc.)
15.4. Google, Inc.
15.5. Yahoo Inc.
15.6. Haptik, Inc.
15.7. Helpshift
15.8. Kasisto Inc.
15.9. Slack Technologies, Inc.
15.10. Astute Solutions
15.11. Kiwi, Inc.
15.12. Microsoft Corporation
