Hybrid Voice and Text Chatbots Market Forecast to Reach $331.5 Million Globally by 2024

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May 08, 2019, 11:30 ET

DUBLIN, May 8, 2019 /PRNewswire/ -- The "AI-Based Chatbot Market by Type (Text, Voice, and Hybrid), Use Case, Deployment Type, Value Chain Component, Market Segment (Consumer, Enterprise, Industrial, Government), Industry Vertical, Region and Country 2019-2024" report has been added to ResearchAndMarkets.com's offering.

Artificial Intelligence (AI) enabled chatbots are taking Customer Relationship Management (CRM) to a new level as business-to-business, business-to-consumer, and consumer-to-business communications is both automated and improved by way of push and pull of the right information at the right time. Chatbots also provide benefits to customers as both existing clients and prospects enjoy the freedom to interact on their own terms. This research indicates that over 50% of customer queries may be managed today via AI-based chatbots.

As the interface between humans and computers evolves from an "operational" interface (Websites and traditional Apps) to an increasingly more "conversational" interface expectations about how humans communicate, consume content, use apps, and engage in commerce will change dramatically. This transformation is poised to impact virtually every aspect of marketing and sales operations for every industry vertical. For example, AI enabled voice chat, also known as conversational AI, provides a completely human-like experience and will completely replace human-based CRM in some industries.

Based on primary research into prepaid wireless service provider customer care, the research indicates that prepaid wireless service providers (and some post-paid service MVNOs) will be the likely first and best target service areas for AI-based CRM. More specifically, carriers will look beyond AI based chatbots and other online CRM automation tools towards conversational AI, which will become very important for both cost reduction and customer satisfaction. This is because conversational AI will provide the best combination of human-like interaction, but with the full knowledge base of carrier service information.

This research provides an in-depth assessment of the chatbots market including global, regional, and country forecasts, by industry, application, and business model. The report also includes market sizing by Type (Text, Voice, and Hybrid), Use Case, Deployment Type, Value Chain Component, Market Segment (Consumer, Enterprise, Industrial, Government), Industry Vertical for years 2019 through 2024. The report provides an analysis of the chatbot market across industry verticals with use cases in diverse sectors. It also provides analysis of chatbot companies including their strategic initiatives, solutions, applications, and services.

The report provides an assessment of emerging AI-based chatbot business models and associated economic impact on labor, investments, and ROI. It also evaluates the current state of chatbot developments and the role of machine learning and AI other technologies such as conversational AI. All direct purchases of this report includes time with an expert analyst who will help you link key findings in the report to the business issues you're addressing. This needs to be used within three months of purchasing the report.

Key Findings:

The global AI enabled chatbots market will reach $2.2B USD by 2024
Hybrid voice and text chatbots market will reach $331.5M USD globally by 2024
The use of conversational AI will revolutionize customer relationship management
The global market for conversational AI in telemarketing will reach $90.6M USD by 2024
Conversational AI will also improve telemarketing efficiency but become major robocall issue
Currently, a fraction of the chatbots market, AI-based chatbots are poised to become the norm by 2025

Companies Mentioned

24me
Amazon
Anboto Group
Apple Inc.
Artificial Solutions Ltd.
Aspect Software, Inc.
Creative Virtual Ltd.
Cubic
CX Company
DeepMind
eGain Corporation
Eidoserve Inc.
Existor
Facebook Inc.
Google
Haptik, Inc.
Helpshift
Hound
IBM Watson
iDAvatars (IDA)
Inbenta Technologies Inc.
Indigo
Intel Corporation
InteliWISE SA
Microsoft Corporation
motion.ai
Robin
Saleforce
SIRIUS
SK Telecom Co, Ltd.
Speaktoit Inc.
Twilio
Vokul
Wunderlist
Yahoo Inc.

For more information about this report visit https://www.researchandmarkets.com/r/yd9tjj

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