Chatbot are largely influenced by numerous economic and non-economic factors. The e-commerce, BFSI and healthcare sectors are expected to have a major impact on the growth of the chatbot market. The increasing introduction of intelligent technologies also enables a high level of services for its customers for retail and e-commerce. The retail and e-commerce sector may have a larger market share in the forecast period compared to other sectors.
Different organizations on their website use chatbots for intelligent customer support and to provide a personalized experience for customers with efficient processing time. The chatbot on websites is used for various applications, e.g. For example, to answer routine customer questions and to monitor brand perception with the help of engagement analyzes and 24-hour support. The website chatbot is used in a variety of areas including retail and e-commerce, BFSI, healthcare, travel and tourism.
Artificial intelligence allows businesses to prioritize and automate decision making, analyze big complex structured and unstructured data to provide deeper insights and improve efficiency by accurate planning. With all these applications, artificial intelligence enables businesses to improve operational efficiency, lower operating costs, enhance service quality and customer experience.
Some of the major players in the chatbot market are Amazon Web Services, Artificial Solutions and Creative Virtual, CX Company, eGain, IBM, Inbenta Technologies , Microsoft, Nuance Communications and Verint Systems.