Chatbot is a computer program, which stimulates human conversations through Artificial Intelligence (AI). It is implemented across several industrial verticals to develop a communication link with their customers and help them with advice, actions, and plans to reach their goals.
Moreover, applications are being developed that enable the chatbots to communicate with each other. These bots, setup on various kinds of platforms, ensure overall enquirer's satisfaction by solving their queries in the best possible manner.
Factors, such as increase in need to improve customer relationship management (CRM) in the BFSI sector, The rise in integration of chatbots with social media, and increased awareness & advantages of chatbots over other customer support options, drive the growth of the global chatbot market in BFSI. However, a lack of technically-skilled resources and product differentiation is expected to hinder the market growth. Furthermore, continuous technological advancements in chatbots are expected to present major opportunities for the market expansion in the coming years.
The global chatbot market in BFSI is segmented into component, platform type, end user, application, and region. In terms of component, it is classified into solution and service. On the basis of platform type, it is bifurcated into web-based and mobile-based. Based on end user, it is divided into banks, insurance companies, and others. On the basis of application, it is segmented into customer support, branding & advertisement, data security & compliance, and others Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyses the profiles of key players operating in the market, which include 7. ai, Inc, Acuvate, Aivo, Artificial Solutions, Creative Virtual Ltd., eGain Corporation, IBM Corporation, Inbenta Technologies Inc., Next IT Corp., and Nuance Communications, Inc. These players have adopted various strategies to increase their market penetration and strengthen their foothold in the industry.
KEY MARKET PLAYERS
7. ai, Inc
Creative Virtual Ltd.
Inbenta Technologies Inc.
Next IT Corp.
Nuance Communications, Inc.
Key Topics Covered:
Chapter 1: Introduction
Chapter 2: Executive Summary 2.1. Cxo Perspective
Chapter 3: Market Landscape 3.1. Market Definition and Scope 3.2. Key Findings 3.2.1. Top Investment Pockets 3.2.2. Top Winning Strategies 3.3. Porter's Five Forces Analysis 3.4. Market Share Analysis/Top Player Positioning 3.5. Market Dynamics 3.5.1. Drivers 3.5.2. Restraints 3.5.3. Opportunities
Chapter 4: Chatbot Market in BFSI Market by Component 4.1. Overview 4.2. Solution 4.2.1. Key Market Trends, Growth Factors and Opportunities 4.2.2. Market Size and Forecast by Region 4.2.3. Market Analysis by Country 4.3. Service
Chapter 5: Chatbot Market in BFSI Market by Platform Type 5.1. Overview 5.2. Web-Based 5.2.1. Key Market Trends, Growth Factors and Opportunities 5.2.2. Market Size and Forecast by Region 5.2.3. Market Analysis by Country 5.3. Mobile-Based
Chapter 6: Chatbot Market in BFSI Market by End-User 6.1. Overview 6.2. Banks 6.2.1. Key Market Trends, Growth Factors and Opportunities 6.2.2. Market Size and Forecast by Region 6.2.3. Market Analysis by Country 6.3. Insurance Companies 6.4. Others
Chapter 7: Chatbot Market in BFSI Market by Application 7.1. Overview 7.2. Customer Support 7.2.1. Key Market Trends, Growth Factors and Opportunities 7.2.2. Market Size and Forecast by Region 7.2.3. Market Analysis by Country 7.3. Branding Advertisement 7.4. Data Security Compliance
Chapter 8: Chatbot Market in BFSI Market by Region
Chapter 9: Company Profiles 9.1. Company Overview 9.2. Key Executives 9.3. Company Snapshot 9.4. Operating Business Segments 9.5. Product Portfolio 9.6. Business Performance 9.7. Key Strategic Moves and Developments