Global Conversational Computing Platform Market – Overview
The Conversational Computing Platform Market is
witnessing a considerable increase across the globe. The market growth
attributes to the rising demand from various verticals, including BFSI, IT
& telecommunications, e-commerce & retail, entertainment & media,
and travel & hospitality. Besides, the increasing adoption of
conversational computing platforms across end-users verticals substantiates the
size of the market.
Moreover,
the increasing implementation of machine learning and conversational computers
to enhance the performance of chatbots and voice products escalate market
growth. According to Market Research
Future (MRFR), the global conversational computing platform market is projected
to grow at a significant CAGR during the review period (2019–2025). The
augmenting demand for optimized business conversational needs boosts the market
demand.
Additionally,
the rising uptake of conversational computing solutions in telecommunication
& IT, BFSI, and retail & e-commerce companies fosters the market's
growth. Rising awareness about conversational computing, increasing adoption of
the technology, and stringent government initiatives are some of the other major
driving forces behind the market's growth.
Get
Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/9554
Conversational
Computing Platform Market - Segments
The
report is segmented into six dynamics;
By Type : Solution (Text Assistant, Chatbots,
Voice Assistant { Natural Language Understanding, Natural Language Processing,
Machine Learning & Deep Learning, Automated Speech Recognition}) and
Services (Consulting & Training, System Integration & Deployment,
Support & Maintenance, others).
By
Technology: Machine Learning & Deep Learning, Natural Language Processing,
Natural Language Understanding, Automated Speech Recognition, and others.
By
Deployment Type: On-Premise and On-Cloud.
By
Application : Personal
Assistance, Data Privacy & Compliance, Branding & Advertisement,
Customer Engagement & Retention, Onboarding & Employee Engagement,
Booking Travel Arrangements, Customer Support, and others.
By
Vertical : Retail & Ecommerce,
BFSI, Telecom, Entertainment & Media, Travel & Hospitality and others.
By
Regions : Asia Pacific, North America,
Europe, and the Rest-of-the-World.
Conversational
Computing Platform Market - Regional Analysis
North
America dominates the global conversational computing platform market. The
market growth attributes to the high digital transformation, adoption of cloud,
and advanced technologies, such as big data and analytics. Besides, the
presence of technology leaders, such as IBM Corporation, Google, and Intel,
contributes to the market's growth. Moreover, usages of conversational
computers in government and aerospace & defense sectors and drive the
market growth.
Also,
the increasing R&D investments for the development of conventional computing
technologies like machine learning boost the market's growth. The US, among
other North American countries, holds the highest market share in the regional
market. The North American conversational computing platform market would
retain its dominance throughout the forecast period.
Europe
stands second in the global conversational computing platform market. The
market growth is driven by the rising use of AI-based conversational platforms.
Additionally, substantial investments by companies, as well as governments in
the region, drive market growth. Multiple initiatives by governments in various
countries in this region facilitate the development of conversational
technology.
Furthermore,
leading technology providers operating in the region that offer enhanced
conversational computing platform solutions foster market growth, catering to
enterprises' needs across industry verticals. The UK is the leading
country-level market, while Germany is the rapidly growing market in the
region.
The Asia
Pacific conversational computing platform market is demonstrating promising
growth. Factors such as the rapid economic growth and the digital
transformation across the industry verticals act as a major growth propeller
for the regional market. Moreover, the growing demand for conversational
computing solutions from the BFSI and IT & telecom sectors offers lucrative
opportunities for conversational computing vendors in the region. China, Japan,
South Korea, and India are the major markets for conversational computing
platforms in the region.
Conversational
Computing Platform Market - Competitive Analysis
Highly
competitive, the conversational computing platform market appears to be
fragmented due to the presence of numerous well-established players. Prevailing
strategies traced from the study of recent developments of the players include
product launch, agreement & partnership, acquisition, and expansion. The
study indicates large investments by multinational companies and emerging
startups. The market demonstrates a high growth prospect, which, in turn, is
attracting several new entrants to the market that would intensify the market
competition further.
Major
Players:
Players
leading the conversational computing platform market include Alphabet, Inc.
(US), IBM Corporation (US), Microsoft Corporation (US), Artificial Solutions
(Spain), Amazon.com, Inc. (US), Accenture (Ireland), Botpress, Inc. (Canada),
Apexchat (US), Cognizant (US), Conversica, Inc. (US), Cognigy GmbH (Germany),
Jio Haptik Technologies Limited (India), Omilia Natural Language Solutions Ltd.
(Cyprus), Nuance Communications, Inc. (US), and Oracle (US), among others.
Industry/Innovation/Related
News:
October
23, 2020 ---- Amelia US LLC, an IPsoft Company, launched its new conversational
platform Digital Employee Builder that can democratize the creation of
intelligent conversational agents by significantly lowering the technical
barrier to adoption. Amelia is a global leader in AI and cognitive abilities,
and it wants to reach the next level by delivering AI value to more people.
The
Digital Employee Builder lowers technical barriers for implementing
conversational AI agents and dramatically compresses time-to-value. The target
for democratization of AI may include business partners, business executives,
salespeople, assembly line workers, application developers, and IT
professionals in the enterprise.
Get Complete Report Details at: https://www.marketresearchfuture.com/reports/conversational-computing-platform-market-9554
About Market Research Future:
At Market Research Future (MRFR), we enable our
customers to unravel the complexity of various industries through our Cooked
Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research
Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting
Services.
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
No comments:
Post a Comment