Malaysia Conversational Commerce Market Set for Remarkable Growth, Projected at US$4.0 Billion by 2023

DUBLIN, Jan. 5, 2024 /PRNewswire/ -- The "Malaysia Conversational Commerce Market Intelligence and Future Growth Dynamics Databook - 75+ KPIs on Conversational Commerce Trends by End-Use Sectors, Operational KPIs, Product Offering, and Spend By Application - Q2 2023 Update" report has been added to ResearchAndMarkets.com's offering.

The latest market intelligence report on the Conversational Commerce industry in Malaysia presents an in-depth analysis packed with data-centric insights. The report unfolds the burgeoning potential of conversational commerce, highlighting a significant growth trajectory that is anticipated to see market value surge to US$4.0 billion in 2023. As the global business community turns its focus to more dynamic consumer engagement practices, Malaysia's conversational commerce landscape is undergoing a transformative phase with impressive growth metrics.

Reflecting on a Compound Annual Growth Rate (CAGR) of 21.0% between the years 2022 to 2028, the industry's transaction value is expected to swell to a staggering US$10.5 billion by the end of the forecast period. This surge is attributed to innovative advances in AI-based virtual assistants, the proliferation of digital voice assistants, and the strategic deployment of Over-The-Top (OTT) messaging and Rich Communication Services (RCS) Messaging formats across diverse sectors.

Key Findings within the report indicate that the increased adoption of conversational commerce methodologies is empowering sectors like Retail Shopping, Travel & Hospitality, Online Food Service, Media and Entertainment, Healthcare and Wellness, and Financial Services. These industries are harnessing the power of chatbots, both web-based and app-based, to offer an enhanced customer experience and streamline operational efficiencies.

With a granular approach, detailed industry Market Size and Forecasts are offered, which span various segments from AI-based virtual assistants to non-intelligent chatbots, meeting the evolving demands of both large enterprises down to small-scale businesses. By examining Malaysia Conversational Commerce Spend on applications such as software, IT services, and consulting, the report presents an unparalleled overview of the sector's lucrative landscape.

Benefits of the Report

• Comprehensive breakdown of conversational commerce market dynamics including transaction volumes and values.
• Precise insights into sector-specific growth opportunities and technological advances.
• Data driven market analysis to support strategic business decisions and investments.
• Market forecasting to help stakeholders anticipate industry trends and stay ahead of the competitive curve.

The intelligence offered through this unique report equips decision-makers with the necessary tools to identify growth segments, develop industry-specific strategies, and capitalize on market opportunities in Malaysia's vibrant conversational commerce sphere. As convergence between commerce and technology takes center stage in Malaysia's business environment, this analysis serves to highlight the key drivers of change and investment opportunities in this dynamic market space.

The industry's steady expansion underscores the country's commitment towards digital transformation and its willingness to embrace state-of-the-art customer engagement solutions. Interested parties are encouraged to delve into this report to harness the depth of quantitative market information and qualitative insights, which are critical to navigate through the fast-evolving industry landscape of conversational commerce in Malaysia.

For more information about this report visit https://www.researchandmarkets.com/r/4v0gp5

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