Investment Analysis, Growth Drivers and Emerging Trends

Christel Deskins

Pune, Maharashtra, India, September 22 2020 (Wiredrelease) Allied Analytics :Growth in need to improve customer relationship management (CRM) in BFSI sector, increase in awareness about the advantages offered by chatbots over other customer support option, and rise in integration of chatbots with social media and others drive the growth of […]

Pune, Maharashtra, India, September 22 2020 (Wiredrelease) Allied Analytics :Growth in need to improve customer relationship management (CRM) in BFSI sector, increase in awareness about the advantages offered by chatbots over other customer support option, and rise in integration of chatbots with social media and others drive the growth of the market. However, factors such as lack of technically skilled resources and lack of product differentiation hamper the growth of the chatbot market in BFSI to a certain extent.

The global chatbot market in BFSI was valued at $ 357 million in 2017, and is projected to reach at $2,186 million by 2024, growing at a CAGR of 29.7% from 2018 to 2024. In 2017, the web-based segment accounted for the highest revenue share in the chatbot market in BFSI.

Download Research Sample Report: https://www.alliedmarketresearch.com/request-sample/2415

Based on type, the software segment dominated the global market in 2016, and is expected to remain dominant during the forecast period, owing to enhanced technological features in chatbots software such as natural language processor (NLP), cloud-based deployment, multilingual, interference engine, and others. Furthermore, the service segment is expected to grow at the highest CAGR during the forecast period owing to increase in adoption of software-as-a-service trend.

The global chatbot market in BFSI was led by the banks segment in 2017, and the segment is projected to maintain its dominance during the forecast period. However, the insurance companies segment is expected to witness the highest growth, owing to increase in adoption of artificial intelligence based chatbots to sell policies and assist customers with insurance advice.

In 2017, the global chatbot market in BFSI was dominated by the web-based segment and is expected to remain dominant during the forecast period. However, the mobile-based segment is also expected to witness highest growth, owing to rise in adoption of smart mobile advisors in banks and financial institutions.

Enquire For Discount: https://www.alliedmarketresearch.com/purchase-enquiry/2415

Some of the key market players profiled in the report include Artificial Solutions, Nuance Communications, Inc., eGain Corporation, Creative Virtual Ltd., Next IT Corp., 24/7 Customer Inc., Codebaby (Idavatars), Inc., Anboto, Inbenta Technologies Inc., and Aivo.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based inPortland,Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205,Portland, OR97220
United States
USA/Canada(Toll Free):
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India(Pune): +91-20-66346060
Fax: 1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com

This content has been published by Allied Analytics company. The WiredRelease News Department was not involved in the creation of this content. For press release service enquiry, please reach us at [email protected].

Next Post

MKS Receives Two Innovation Awards in China for the Spectra-Physics(R) IceFyre(R) UV Picosecond Laser

The MarketWatch News Department was not involved in the creation of this content. ANDOVER, Mass., Sep 22, 2020 (GLOBE NEWSWIRE via COMTEX) — Prestigious Awards Highlight the IceFyre Laser’s Capability to Enable Precision Micromachining Processing MKS Instruments, Inc. (NASDAQ: MKSI) announces that it has received two technology innovation awards in […]