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(Wireless-NewsWire.Com, March 01, 2018 ) The chatbots market size is estimated to grow from USD 703.3 Million in 2016 and to USD 3,172.0 Million by 2021, at a CAGR of 35.2% from 2016 to 2021. Some of the major factors that are driving the growth of the chatbots market include the proliferating demand of intelligent customer engagement, increasing penetration of websites & mobile applications, and surge in demand of automated patient management tools in healthcare industry. Furthermore, due to the rise in the demand for integrated and next generation technology, evolution of cloud-based solutions, and increasing wave of mobile applications, there are huge growth opportunities expected for the chatbots market in the next five years.
The scope of this report covers the chatbots market analysis by type, services, usage, industry verticals, deployment type, end users, and region. The services segment is expected to grow at the highest CAGR during the forecast period, which supports the implementation of chatbot solutions across various industries.
Browse Market Data Tables and In-Depth TOC of the Chatbots Market to 2021 @ https://www.researchcosmos.com/reports/global-chatbots-market-analysis-and-forecast-to-2022-growth-opportunity-assessment/9445104
The mobile platform segment is expected to grow at the highest CAGR during the forecast period due to the increasing mobile users and BYOD. Growing needs of integrated patient engagement for better physician experience, comprehensive patient documentations, medicines, doctor visits and check-ups reminder systems, patient education, Electronic Health Records (EHR), is projected to increase the adoption of chatbots across healthcare industry, hence the healthcare industry is expected to grow at a faster rate.
On-Cloud deployment type holds the largest market share and is expected to grow at the highest CAGR during the forecast period. The cloud-based smart advisor solution reduces the up-front costs and eliminates maintenance of the server. Large enterprise is expected to have the largest market share during the forecast period. Customer retention and better revenue generation is leading towards the growth of chatbot technology adoption in the large enterprises.
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As per the geographic analysis, the adoption of chatbot solutions across APAC is estimated to rise at a significant rate due to the growing advancement in the technology and industries. These factors would drive market awareness about the business value and return on investment, which can be realized in the long run. The regional analysis of the market involves the classification of the type, usage, industry verticals, deployment type, and end users into North America, Europe, APAC, MEA, and Latin America.
A few of the restraining factors that affect the growth of the market include 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. The major chatbot solution vendors profiled in the report include IBM Watson (New York, U.S.), Nuance Communications Inc. (Massachusetts, U.S.), eGain Corporation (California, U.S.), Artificial Solutions (Stockholm, Sweden), Creative Virtual Pvt. Ltd. (London, UK), Next IT Corporation (Washington, U.S.), CX Company (Rotterdam, The Netherlands), Speaktoit Inc. (California, U.S.), 24/7 Customer Inc. (California, U.S.), and Codebaby (iDAvatars) (Mequon, U.S.) These players have adopted various strategies such as new product developments, mergers, strategic partnerships and collaborations, and regional expansions to cater to the needs of the global chatbots market.
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Source: EmailWire.Com 
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