Conversational AI Platforms mainly help to develop and implement solutions for automating customer service, customer engagement, and human-computer interactions by making use of natural language understanding and speech generation. These solutions include chatbots as well as virtual assistance, among other tools. Conversational AI platform facilitates the communication between digital world with the humans. In addition, with the help of chatbots businesses can rapidly provide customer support and solve their issues and concerns. Also, it can further help businesses in achieving their business goals by addressing the key issues faced by their customers. Apart from that, it also personalizes the user experience at a level.
Global Conversational AI Platforms Market: Key Players
The research study includes profiles of leading companies operating in the global conversational ai platforms market. Key players profiled in the report include: Microsoft Corporation, International Business Machines Corporation, SAP SE, Oracle Corporation, Google LLC, Nuance Communications Inc., Haptik Inc., Conversica Inc., Amazon.com Inc., and Baidu Inc. The market also consists of regional players such as Avaamo Inc., Creative Virtual Ltd., Inbenta Technologies Inc., Artificial Solutions International AB, Kore.ai Inc., and Solvvy Inc.
Drivers for the Global Conversational AI Platforms Market:
According to current market condition, growing demand for AI-powered customer support services is amongst the major factors supporting the growth of the global conversational AI market. With the combination of conversational AI solutions such as chatbots, IVA and IVR has enabled in the adoption of automated customer support services. Moreover, the deployment of AI-enabled conversational tools engages customers, gather relevant information about them, before redirecting it to a human agent, which results in enhancing work efficiency and create a personalized experience for the user. It also assists users in taking better decisions related to the purchase of product or service.
Opportunities for the Global Conversational AI Platforms Market:
The implementation of chatbots for employee retention is one of the key opportunities noticed in the market. AI-powered chatbots support in providing insightful information to the companies related to the engagement level of an employee, which could lead to reduced churn rate. Furthermore, technological advancements in conversational platforms can be opportunistic for the market growth in upcoming years. In addition, increasing the adoption of social media and messaging apps is also one of the key factors fueling the demand for conversational AI platform solutions.
Restrains for the Global Conversational AI Platforms Market:
Preference to deal with human and data privacy & security concerns are hampering the market growth.
Region Wise, Global Conversational AI Platforms Market Analysis:
On the basis of region, global conversational AI platforms market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America accounted for the largest share of the global AI app conversational market. The acceptance of the conversational AI platform is the highest in this area with the involvement of the highest number of technology innovators and industry disruptors. The growing use of smart speakers, resulting in smart virtual assistant technology, drives the conversational AI platform market in North America. North America region is followed by Asia pacific and Europe.
Global Conversational AI Platforms Market: Product analysis
Global Conversational AI Platforms Market: Application analysis
- Customer Support
- Personal Assistant
- Branding and Advertisement
- Customer Engagement and Retention
- Onboarding and Employee Engagement
Global Conversational AI Platforms Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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