The global  conversational Artificial Intelligence (AI) market size reached USD 4.91 Billion in 2020 and is expected to register a CAGR of 22.6%, during the forecast period, according to latest analysis by Emergen Research. Rising demand for Artificial Intelligence-driven customer support services is expected to drive global conversational AI market revenue growth over the forecast period. Increasing implementation of conversational AI chatbots in the automotive industry is expected to augment global conversational AI market growth going ahead. One of the most prominent trends in the market is increasing application of chatbots to retain employees. AI-powered chatbots assist businesses in delivering useful details about an employee's level of engagement that can result in a lower churn rate, which is expected to boost the market growth going ahead.

It covers key statistical data including historical and current market size, market share, and revenue growth with organized representation such as tables, charts, graphs, and other pictorial representations. The report focuses on the key market elements to ensure the readers gain a competitive advantage and maximum benefit of the market data to assist them in achieving substantial growth and global position in the market.

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Market Dynamics:

The report offers insightful information about the market dynamics of the Conversational Artificial Intelligence (AI) market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Conversational Artificial Intelligence (AI) market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Conversational Artificial Intelligence (AI) market.

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Major Players/Manufacturers profiled in the report are:

Google LLC, Microsoft Corporation, Oracle Corporation, International Business Machines Corporation, Baidu Inc., Nuance Communications Inc., SAP SE, Conversica Inc., Inbenta Technologies Inc., and Avaamo Inc.

Emergen Research has segmented the global conversational AI market on the basis of deployment, component, type, technology, end-use, and region:

• Deployment Outlook (Revenue, USD Billion; 2018–2028)
  • On-Premises
  • Cloud
• Outlook Components (Revenue, USD Billion; 2018–2028)
  • Service
  • Platform
• Type Outlook (Revenue, USD Billion; 2018–2028)
  • Intelligent Virtual Assistants
  • Chatbots
• Technology Outlook (Revenue, USD Billion; 2018–2028)
  • Natural Language Processing
  • Automated Speech Recognition
  • Machine Learning
  • Deep Learning
• End-use Outlook (Revenue, USD Billion; 2018–2028)
  • Healthcare
  • Media Entertainment
  • Automotive
  • E-Commerce
  • Retail
  • BFSI
  • Telecom
  • Others

The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2020-2027. According to the regional analysis, the market is primarily spread over key geographical regions as follows:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Benefits of the Report:

• Comprehensive analysis of the competitive scenario and its changing dynamics
• Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
• In-depth 8 year analysis of the Global Conversational Artificial Intelligence (AI) Market
• Critical assessment of the key market segments
• Comprehensive analysis of the drivers, restraints, trends, and opportunities
• Detailed regional analysis and extensive company profiling
• Extensive assessment of current and emerging trends of the market

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