Chatbots To Grow By 25 Per Cent Through 2026: IMARC Group
Research firm IMARC Group recently stated that the global chatbot market exhibited strong growth between 2015-2020, and it has projected it to grow at a compound annual rate of around 25 percent through 2026. Rapid digitisation and the increasing need for high-quality customer service across organisations are among the key factors driving growth, according to […]
Topics
Research firm IMARC Group recently stated that the global chatbot market exhibited strong growth between 2015-2020, and it has projected it to grow at a compound annual rate of around 25 percent through 2026.
Rapid digitisation and the increasing need for high-quality customer service across organisations are among the key factors driving growth, according to the report. Other growth factors include the widespread adoption of over-the-top messaging and social networking applications among younger consumers; technological advancements, such as the integration of predictive analytics, machine learning, blockchain, and cloud computing; significant improvements in the IT infrastructure; and extensive research and development in natural language processing.
Also Read: Can No-code Upskill the Non-Technical Marketer?
Modern chatbots can adapt to changing digital environments and provide a human-like conversational experience by learning from users’ actions, experiences, and decisions, the report said.
Chatbots are an integral component of effective customer care programs and are used across industries like financial services and insurance, information technology, telecommunication, eCommerce, and healthcare, for resolving customer queries in minimal time.
The report identifies [24]7.ai, Acuvate Software, Aivo, Artificial Solutions, Creative Virtual, eGain, IBM, Inbenta Technologies, Kore.ai, LiveChat, Nuance Communications, and Verint as leading providers of chatbot technology.
