Research Nester released a report titled “Conversational AI Platform Market: Global Industry Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global conversational AI Platform market in terms of market segmentation by deployment type, type, technology, application, vertical and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Conversational AI platform is being used by individuals who are being offered the facility of communicating with several applications such as devices, gadgets and websites frequently and also on an everyday basis. The communication takes place using text, voice and various other methods which helps to provide enriching and customized experiences for the customers. The global Conversational AI Platform market is predicted to register a significant CAGR over the forecast period, i.e., 2019-2027.
The market is segmented by deployment type, type, technology, application, vertical and by region. On the basis of deployment type, on-premise segment is anticipated to acquire the highest market share over the forecast period. Moreover, it provides flexibility to the user as well as low costs. Moreover, there is a requirement only for a one-time payment to be made by the user, after which the user owns the hardware. It also costs less as compared to the costs required to be spent on cloud for the user.
The global conversational AI Platform market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The North American and European region markets are predicted to attain tremendous growth over the forecast period, owing to the presence of a significant number of vendors who are offering solutions associated to conversational AI and various technologies such as Artificial Intelligence and Machine Learning receiving huge investments in these regions in the recent years. However, the absence of adequate protection available for preventing data theft and with various forms of cyber attacks being reported in several regions of the world, apart from lack of adequate trust placed by customers who are provided with chatbots and Intelligent Virtual Assistants for assistance to help them get out of their problems are some of the major restraining factors that can impede the growth of the market over the next few years.
This report also provides the existing competitive scenario of some of the key players of the global conversational AI Platform market which includes company profiling of Microsoft Corporation, LiveChat, Inc., CM.com, Alphabet, Inc. and Artificial Solutions. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global conversational AI Platform market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.