In a recent published report, Kenneth Research has updated the market report for Conversational AI Platform Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Conversational AI Platform Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
The rising advancements and implementation of artificial intelligence in assisting systems powered by automated solutions help the users in restaurant reservations, ordering food and other similar services. The customer support service industry is gaining momentum especially with the implementation of Artificial Intelligence technology, which has further assisted in enhancing the customer experience. This, in turn, has encouraged the businesses to adopt AI-powered customer support services, leading to the growth of the market.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Various factors that are estimated to boost the growth of the conventional AI market in upcoming years include 24/7 availability of customer support with better customer assistance and availability of services and AI-powered support solutions that are providing businesses the ability to provide reliable customer support.
About 85% of all customer support communications and related services will be conducted without engaging with customer service representatives for the major task options. Further, nearly, 42% of B2C customers have shown more interest in purchasing the utilities from the outlet after experiencing good customer services. Similarly, about 52% of customers stopped purchasing due to a single disappointing customer support interaction. Collectively, these factors are projected to boost market growth in the forthcoming years.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Growing adoption of chatbots & Intelligent Virtual Agent (IVA) is projected to fuel the market growth over the coming years. Chatbots help customers to get an instant response to their problems and get them solved quickly. Additionally, the rising adoption of automated services is anticipated to propel the market growth.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
Important Points From Table of Content Covered in This Report:
Introduction
Research Methodology
Executive Summary- Conversational AI Platform Market
Market Dynamics
Conversational AI Platform Market Outlook
Competitive Landscape
Company Profiles
- Microsoft
- LiveChat Inc.
- CM
- Alphabet Inc.
- Artificial Solutions
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