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Global Chatbot Market 2018-2019 & Forecast to 2027: Introduction of NLP to Chatbots Offer Lucrative Opportunities for Chatbots Vendors

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Dublin, May 14, 2019 (GLOBE NEWSWIRE) -- The "Chatbot Market to 2027 - Global Analysis and Forecasts by Component, Deployment, and Usage End-user" report has been added to ResearchAndMarkets.com's offering. The global Chabot market accounted to US$ 1072.4 Mn in 2018 and is expected to grow at a CAGR of 27.9% during the forecast period 2019 - 2027, to account to US$ 9475.1 Mn by 2027. Chabot vendors are offering virtual assistance capabilities due to factors such as faster response, reduced manpower, cost-efficient, and others. Most of the smartphone and tablet users are using virtual assistants to make the functionality of devices much easier.


Artificial Intelligence In Chatbot Security Market Size And Forecast (2020-2026)

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Find the complete Artificial Intelligence In Chatbot Security Market analysis segmented by companies, region, type and applications in the report.


AI Scholar: Chatbots that improve after deployment

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The last few years have seen the chatbot industry slowly but surely become a global phenomenon. In 2016, the chatbot market was worth approximately $700 million. Growing at a CAGR of over 24%, the Global Chatbot Market is now expected to reach $ 1.25 billion by 2025 according to a recent report. Innovations in artificial intelligence and machine learning technologies are increasingly enhancing chatbots features and thus driving the market demand. Unlike human assistants, chatbots provide instant responses, process complex questions, enhance analytics, boost customer engagement and are less costly.


Chatbots Market Growing at a CAGR 35.08% during 2016 to 2023- Research Nester - Sci/Tech Nation

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Chatbot demand highest from BFSI & E-commerce; global demand worth 868 million by 2023.Global Chatbot Market is primarily driven by the growth in IT sector, according to our research report "Global Chatbot Market Outlook 2023". Under Global Chatbot Market, web-based chatbots segment is anticipated to grow substantially during the forecast period. The rising penetration of chatbots in e-commerce and banking industry & spiked adoption of virtual assistants in small and medium enterprises are the major growth drivers for this industry. Further, riding on the back of advancement in user interfaces and massive researches on artificial intelligence to make smart and more interactive chatbots, the web-based chatbots segment is expected to contribute the largest market share of 58.5% by 2023. The global market of chatbot reached USD 88.5 Million in 2015 and it is expected to garner USD 868.6 Million by the end of 2023, registering a modest CAGR over the forecast period.


2018 is the year chatbots join the enterprise

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It's safe to say that 2017 was a flop for the chatbot. All the predictions made out that this was going to be the year that we saw enterprise-wide adoption of bots. That hasn't been the case, primarily, because enterprise is not paying close attention to its own behavior. Consumers have already adopted bots as a part of their lives and use them on a daily basis. From telephones to social media, new technology makes businesses more accessible to everyone, and bots are no exception. So, why is enterprise behind on this?