[ad_1]
SEOUL, South Korea, Oct. 12, 2022 /PRNewswire/ — “Conversational AI Market” from Data Bridge Market ResearchThis research helps businesses thrive by offering in-depth market analyses and insights. This Conversational AI market report provides detailed profiles of the key players to bring out a clear view of the competitive landscape of the Conversational AI industry outlook. It also covers market new product analysis, financial overview, strategies and marketing trends. The industry is entrenched to see a changing development due to change in consumer request, situation of import/export and investigation of developing sectors. This Conversational AI business report presents the segments details figures, graphs , chart and tables which will offer an extensive overview of the market. The examination of advancement openings, regional analysis, and attentive study will prompt revenue estimation.
Global conversational artificial intelligence (AI) market was valued at USD 6.77 billion in 2021 and is expected to reach USD 37.94 billion by 2029, registering a CAGR of 24.04% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis , pricing analysis, production consumption analysis, and pestle analysis.
Download Sample Copy of Conversational AI Market Report @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-conversational-ai-market
From the name itself, it is clear that conversational artificial intelligence (AI) is a technology in the form of virtual agents/ assistants or catboats that are used by businesses/ organizations to communicate and interact with a complex system in a user-friendly, fast and reliable manner. Conversational artificial intelligence (AI) is based on a mix of technologies such as machine learning, natural language processing and artificial intelligence which help to improve the response quality over time with improvement in learning.
Customer satisfaction is one of the primary objectives of any given business or organization. Maximizing customer satisfaction along with improving the customer retention quotient is what major industries are focusing. The advanced technologies in the market allow customer handling via chatbots and virtual assistants effectively without hampering the business processes. One such technology is conversational artificial intelligence (AI).
Rising adoption of advanced technologies
It is projected that a new form of communication will develop as a result of the rapid uprooting of current mobile and web services by speech-based and AI-powered messaging apps. Chatbots and other digitalized platforms are used in conversational artificial intelligence to provide clients with a platform where they can solve their problems and communicate with virtual assistants.
Increasing trend of digitalization
Additionally, the increasing trend of digitalization further offers numerous growth opportunities within the market. The rising number of BPOs, increased penetration rate of smartphones and other consumer electronics and complete digitization of operations will also work in favor of the market.
Some of the major players operating in the Conversational AI market are:
- Google, LLC (US)
- Microsoft (US)
- IBM (US)
- Amazon Web Services, Inc. (US)
- Baidu (China)
- Oracle (US)
- SAP SE (Germany)
- FIS (US)
- Artificial Solutions (Sweden)
- Kore.ai, Inc. (US)
- Conversica, Inc. (US)
- Inbenta Holdings Inc. (US)
- Creative Virtual Ltd. (US)
- SoundHound AI, Inc. (US)
- Avaamo (US)
- Jio Haptik Technologies Limited (US)
- Solvvy (US)
- Cisco Systems, Inc. (US)
- Kasisto (US)
- Gupshup (US)
Recent Developments
- Vertex AI, a managed machine learning (ML) platform that enables businesses to expedite the development and maintenance of artificial intelligence (AI) models, will be generally available starting in March 2021according to Google Cloud.
- Microsoft said in April 2021 that it would buy Nuance Communications, a leader in AI-based technologies, for USD 19.7 billion in an all-cash deal. Microsoft’s voice recognition and transcription technology capabilities will be enhanced with the acquisition of Nuance.
- In September 2021Astro will be released as a brand-new and distinctive type of robot that can assist users with various duties, including home monitoring and staying in touch with loved ones.
Get Detailed Research Report to Understand More @ https://www.databridgemarketresearch.com/checkout/buy/enterprise/global-conversational-ai-market
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Conversational AI market
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Conversational AI Market
Market Dynamics: Conversational AI Market
- The trend of AI-powered customer support services
Growing awareness about the benefits of virtual…
Full story available on Benzinga.com
[ad_2]
Source link
