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Chatbots Market by Type (Software, and Services), Usage (Websites, Contact Centers, Social Media, and Mobile Platform), Deployment Type (On-Premises, and On-Cloud), Industry Verticals (Healthcare, Retail, Education), End User - Global Forecast to 2021

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Date: 16-May-2017
No. of pages: 155
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“Increasing penetration of websites and mobile applications is the major factor expected to drive the growth of the chatbots market”

The smart advisors/chatbots market size is estimated to be USD 703.3 million in 2016 and is projected to reach USD 3,172.0 million by 2021, at a CAGR of 35.2% from 2016 to 2021, due to the strong need to understand consumer behavior, adoption of cloud-based technology, and proliferating demand of intelligent customer engagement. Lack of awareness owing to relatively early presence in tech-adoption life cycle, high deployment cost as well as system integration complexities, and lack of expertise are the major restraining factors of the chatbots market.

“Websites segment is estimated to have the largest market share during the forecast period”

The websites segment is expected to lead the smart advisors usage market between 2016 and 2021, due to the increasing number of websites of various industries. It is very necessary for business organizations to take care of this concept of emotions on websites to increase their sales and eventually their market share. Hence, a strong need to understand the customer personality is driving the growth of chatbots market.

“North America is expected to dominate the market during the forecast period”

With regards to the geographic analysis, North America is likely to benefit from its technological advancements, large number of devices, and industries.

Asia-Pacific (APAC) is expected to lead the smart advisors market by region between 2016 and 2021. The growth can be attributed to hyper urbanization and industrialization.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The

break-up profile of primary discussion participants is given below:


  • By Company Type: Tier-1 (42%), Tier-2 (33%), and Tier-3 (25%) companies

  • By Designation: C-level (75%) and Manager Level (25%)

  • By Region: North America (43%), Europe (29%), APAC (18%), and Rest of World (RoW) (10%)


The various key chatbots vendors profiled in the report are as follows:


  • Artificial Solutions (Sweden)

  • IBM Watson (U.S.)

  • Naunce Communications, Inc. (U.S.)

  • eGain Corporation (U.S.)

  • Creative Virtual Pvt. Ltd. (U.S.)

  • Next IT Corporation (U.S.)

  • CX Company (Netherlands)

  • Speaktoit, Inc. (U.S.)

  • 24/7 Customer, Inc. (U.S.)

  • Codebaby (Idavatars), Inc. (U.S.)


Research Coverage:

MarketsandMarkets segments the chatbots market on the basis of type, usage, industry verticals, deployment type, end users, and regions. The research report categorizes the chatbots market to forecast the revenues and analyze the trends in each of the following subsegments. In addition to this, product portfolio analysis, value chain analysis, strategic benchmarking, and technology roadmap are some of the other MarketsandMarkets analysis included in the report.

Reasons to buy this report:

From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the smart advisors market; high-growth regions; and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:


  • Market Penetration: Comprehensive information on smart advisors offered by the top players in the global chatbots market

  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the chatbots market

  • Market Development: Comprehensive information about lucrative emerging markets – the report analyzes and the markets for chatbots across various regions

  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global chatbots market

  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global chatbots market

Chatbots Market by Type (Software, and Services), Usage (Websites, Contact Centers, Social Media, and Mobile Platform), Deployment Type (On-Premises, and On-Cloud), Industry Verticals (Healthcare, Retail, Education), End User - Global Forecast to 2021

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Chatbots Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions

3 Chatbots Market: Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Global Chatbots Market
4.2 Smart Advisors Market, By Type
4.3 Global Chatbots Market
4.4 Lifecycle Analysis, By Region 2016

5 Chatbots Market: Overview
5.1 Introduction
5.2 Smart Advisors Market Evolution
5.3 Market Segmentation
5.3.1 By Type
5.3.2 By Service
5.3.3 By Usage
5.3.4 By Industry Vertical
5.3.5 By Deployment Type
5.3.6 By End User
5.3.7 By Region
5.4 Chatbots Market Dynamics
5.4.1 Drivers
5.4.1.1 Proliferating Demand of Intelligent Customer Engagement
5.4.1.2 Increasing Penetration of Websites and Mobile Applications
5.4.1.3 Surge in Demand of Automated Patient Management Tools in the Healthcare Industry
5.4.1.4 Strong Need to Understand Consumer Behavior
5.4.1.5 Adoption of Cloud-Based Technology
5.4.2 Restraints
5.4.2.1 Lack of Awareness Owing to Relatively Early Presence in Tech-Adoption Life Cycle
5.4.2.2 High Deployment Cost as Well as System Integration Complexities
5.4.3 Opportunities
5.4.3.1 Value Addition By Integrating Natural Language Processing (NLP)
5.4.3.2 Growing Number of Social Media Platforms
5.4.3.3 Proliferation in Demand of Intuitive Digital Shopping Experience in the Retail Sector
5.4.4 Challenges
5.4.4.1 Lack of Technically Skilled Resources Which Can Effectively Use and Manage the Smart Advisor Tools
5.4.4.2 Impact on Business Application

6 Chatbots Market: Industry Trends
6.1 Value Chain Analysis
6.2 Strategic Benchmarking
6.3 Technology Architecture
6.3.1 Speech Recognition
6.3.2 Natural Language Processing
6.3.3 Machine Learning
6.3.4 Text-To-Speech

7 Chatbots Market Analysis, By Type
7.1 Introduction
7.2 Software
7.3 Services
7.3.1 Professional Services
7.3.2 Managed Services

8 Chatbots Market Analysis, By Usage
8.1 Introduction
8.2 Websites
8.3 Contact Centers
8.4 Social Media
8.5 Mobile Platform

9 Chatbots Market Analysis, By Industry Vertical
9.1 Introduction
9.2 Financial Services
9.3 Healthcare
9.4 Communication
9.5 Retail
9.6 Travel and Hospitality
9.7 Government
9.8 Education
9.9 Utilities
9.10 Others

10 Chatbots Market Analysis, By Deployment Type
10.1 Introduction
10.2 On-Premises
10.3 On-Cloud

11 Chatbots Market Analysis, By End User
11.1 Introduction
11.2 Small and Medium Enterprises
11.3 Large Enterprises

12 Geographic Analysis
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia-Pacific
12.5 Middle East and Africa (Mea)
12.6 Latin America

13 Competitive Landscape
13.1 Overview
13.2 Competitive Situations and Trends
13.2.1 Partnerships, Agreements, and Collaborations
13.2.2 New Product Launches
13.2.3 Mergers and Acquisitions

14 Company Profiles
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
14.1 Introduction
14.2 IBM Watson
14.3 Nuance Communications, Inc.
14.4 Egain Corporation
14.5 Artificial Solutions
14.6 Creative Virtual Pvt. Ltd.
14.7 Next IT Corporation
14.8 CX Company
14.9 Speaktoit, Inc.
14.10 24/7 Customer, Inc.
14.11 Codebaby (Idavatars), Inc.

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Key Innovators
15.1 Anboto
15.2 Existor Ltd.
15.3 Synthetix
15.4 Viclone
15.5 Aivo
15.6 Inbenta
15.7 Kasisto
15.8 Nohold, Inc.
15.9 Smartaction Company, LLC
15.10 Verbio Technologies
15.11 Eidoserve Inc.

16 Appendix
16.1 Other Developments
16.1.1 Partnerships, Collabrations and Agreements
16.1.2 New Product Launches
16.1.3 Mergers and Acquisitions
16.2 Discussion Guide
16.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
16.4 Introduction RT: Real-Time Market Intelligence
16.5 Available Customizations
16.6 Related Reports

List of Tables

Table 1 Chatbots Market Size and Growth, 2014–2021 (USD Million, Y-O-Y %)
Table 2 Smart Advisors Market Size, By Type, 2014–2021 (USD Million)
Table 3 Market Size, By Type, 2014–2021 (USD Million)
Table 4 Chatbots Market Size, By Region, 2014–2021 (USD Million)
Table 5 Software: Smart Advisors Market Size, By Region, 2014-2021 (USD Million)
Table 6 Services: Market Size, By Type, 2014-2021 (USD Million)
Table 7 Services: Market Size, By Region, 2014-2021 (USD Million)
Table 8 Professsional Services: Smart Advisors Market Size, By Region, 2014-2021 (USD Million)
Table 9 Managed Services: Smart Advisors Market Size, By Region, 2014-2021 (USD Million)
Table 10 Smart Advisors Market Size, By Usage, 2014–2021 (USD Million)
Table 11 Websites: Smart Adviors Market Size, By Region, 2014-2021 (USD Million)
Table 12 Contact Centers: Market Size, By Region, 2014-2021 (USD Million)
Table 13 Social Media: Market Size, By Region, 2014-2021 (USD Millions)
Table 14 Mobile Platform: Market Size, By Region, 2014-2021 (USD Millions)
Table 15 Chatbots Market: Size, By Industry Vertical, 2014–2021 (USD Million)
Table 16 Financial Services: Market Size, By Region, 2014–2021 (USD Million)
Table 17 Healthcare: Market Size, By Region, 2014–2021 (USD Million)
Table 18 Communication: Market Size, By Region, 2014–2021 (USD Million)
Table 19 Retail: Market Size, By Region, 2014-2021 (USD Million)
Table 20 Travel and Hospitality: Chatbots Market Size, By Region, 2014-2021 (USD Million)
Table 21 Government: Market Size, By Region, 2014-2021 (Million)
Table 22 Education: Market Size, By Region, 2014-2021 (Million)
Table 23 Utilities: Market Size, By Region, 2014-2021 (Million)
Table 24 Others: Market Size, By Region, 2014-2021 (Million)
Table 25 Smart Advisors Market Size, By Deployment Type, 2014-2021 (Million)
Table 26 On-Premises: Market Size, By Region, 2014-2021 (Million)
Table 27 On-Cloud: Market Size, By Region, 2014-2021 (Million)
Table 28 Smart Advisors Market Size, By End User, 2014-2021 (Million)
Table 29 Small and Medium Enterprises: Chatbots Market Size, By Region, 2014-2021 (Million)
Table 30 Large Enterprises: Smart Advisors Market Size, By Region, 2014-2021 (Million)
Table 31 Smart Advisors Market Size, By Region, 2014–2021 (USD Million)
Table 32 North America: Chatbots Market Size, By Type, 2014–2021 (USD Million)
Table 33 North America: Smart Advisors Market Size, By Service, 2014–2021 (USD Million)
Table 34 North America: Market Size, By Usage, 2014–2021 (USD Million)
Table 35 North America: Market Size, By Industry Vertical, 2014-2021 (USD Million)
Table 36 North America: Market Size, By Deployment Type, 2014-2021 (USD Million)
Table 37 North America: Market Size, By End User, 2014-2021 (USD Million)
Table 38 Europe: Chatbots Market Size, By Type, 2014–2021 (USD Million)
Table 39 Europe: Smart Advisors Market Size, By Service, 2014–2021 (USD Million)
Table 40 Europe: Market Size, By Usage, 2014–2021 (USD Million)
Table 41 Europe: Market Size, By Industry Vertical, 2014-2021 (USD Million)
Table 42 Europe: Market Size, By Deployment Type, 2014-2021 (USD Million)
Table 43 Europe: Market Size, By End User, 2014-2021 (USD Million)
Table 44 Asia-Pacific: Chatbots Market Size, By Type, 2014–2021 (USD Million)
Table 45 Asia-Pacific: Smart Advisors Market Size, By Service, 2014–2021 (USD Million)
Table 46 Asia-Pacific: Market Size, By Usage, 2014–2021 (USD Million)
Table 47 Asia-Pacific: Market Size, By Industry Vertical, 2014-2021 (USD Million)
Table 48 Asia-Pacific: Market Size, By Deployment Type, 2014-2021 (USD Million)
Table 49 Asia-Pacific: Market Size, By End User, 2014-2021 (USD Million)
Table 50 Middle East and Africa: Chatbots Market Size, By Type, 2014–2021 (USD Million)
Table 51 Middle East and Africa: Smart Advisors Market Size, By Service, 2014–2021 (USD Million)
Table 52 Middle East and Africa: Market Size, By Usage, 2014–2021 (USD Million)
Table 53 Middle East and Africa: Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 54 Middle East and Africa: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 55 Middle East and Africa: Market Size, By End User, 2014–2021 (USD Million)
Table 56 Latin America: Chatbots Market Size, By Type, 2014–2021 (USD Million)
Table 57 Latin America: Market Size, By Service, 2014–2021 (USD Million)
Table 58 Latin America: Smart Advisors Market Size, By Usage, 2014–2021 (USD Million)
Table 59 Latin America: Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 60 Latin America: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 61 Latin America: Market Size, By End User, 2014–2021 (USD Million)
Table 62 Partnerships, Agreements, and Collaborations, 2015–2016
Table 63 New Product Launches, 2014–2015
Table 64 Mergers and Acquisitions, 2015–2016

List of Figures

Figure 1 Global Chatbots Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 3 Smart Advisors Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Global Chatbots Market Size and Growth Rate, 2014-2021 (USD Million, Y-O-Y %)
Figure 7 Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 8 Professional Services Segment is Expected to Hold the Largest Smart Advisors Market Size During the Forecast Period
Figure 9 Mobile Platform Segment is Expected to Grow at the Highest CAGR From 2016 to 2021
Figure 10 Healthcare Vertical is Expected to Grow at the Highest CAGR From 2016 to 2021
Figure 11 On-Cloud Deployment is Expected to Grow at the Highest CAGR From 2016 to 2021
Figure 12 Small and Medium Enterprises Segment is Expected to Grow at the Highest CAGR From 2016 to 2021
Figure 13 Fastest-Growing Segments of the Smart Advisors Market
Figure 14 North America is Estimated to Hold the Largest Market Share in 2016
Figure 15 Proliferating Demand of Intelligent Customer Engagement Tools and Rise in the Adoption of Cloud-Based Technology is Expected to Boost the Smart Advisors Market
Figure 16 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 17 North America is Expected to Hold the Largest Share of the Smart Advisors Market in 2016
Figure 18 The Chatbots Market has Immense Opportunities for Growth in Asia-Pacific
Figure 19 Evolution of the Smart Advisors Market
Figure 20 Chatbots Market Segmentation, By Type
Figure 21 Smart Advisors Market Segmentation, By Service
Figure 22 Market Segmentation, By Usage
Figure 23 Market Segmentation, By Industry Vertical
Figure 24 Market Segmentation, By Deployment Type
Figure 25 Market Segmentation, By End User
Figure 26 Market Segmentation, By Region
Figure 27 Smart Advisors Market: Drivers, Restraints, Opportunities, and Challenges
Figure 28 Smart Advisors Market: Value Chain
Figure 29 Strategic Benchmarking: Technology Integration and Product Enhancement
Figure 30 Technology Architecture
Figure 31 Services Segment is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 32 Mobile Platform Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 33 Healthcare Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 34 On-Cloud Deployment is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 35 Small and Medium Enterprises Segment is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 36 North America to Hold the Largest Market Share in the Global Chatbots Market During the Forecast Period
Figure 37 Regional Snapshot: Asia-Pacific is the Emerging Region in the Chatbots Market
Figure 38 North America Market Snapshot: Increasing Penetration of Websites and Mobile Applications is A Major Factor Contributing Towards the Growth of the Market
Figure 39 Asia-Pacific Market Snapshot: Proliferation of Internet Services, Surge in Mobility, and Rapid Internet Penetration are Some of the Major Factors Contributing Towards the Growth of the Smart Advisors Market
Figure 40 Companies Adopted the Strategy of Partnerships, Agreements, and Collaborations as the Key Growth Strategy
Figure 41 Chatbots Market Evaluation Framework
Figure 42 Battle for Chatbots Market Share: the Strategy of Partnerships, Agreements, and Collaborations is the Key Strategy Adopted By Key Players
Figure 43 IBM Watson: Company Snapshot
Figure 44 IBM Watson: SWOT Analysis
Figure 45 Nuance Communications, Inc.: Company Snapshot
Figure 46 Nuance Communications, Inc.: SWOT Analysis
Figure 47 Egain Corporation: Company Snapshot
Figure 48 Egain Corporation: SWOT Analysis
Figure 49 Artificial Solutions: SWOT Analysis
Figure 50 Creative Virtual Pvt. Ltd.: SWOT Analysis
Figure 51 Next IT Corporation: SWOT Analysis

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