The global Conversational Systems Market size was valued at US$5.94 billion in 2019 and is projected to grow at a CAGR of 26% from 2021 to 2027. Growth could be driven by growing demand for artificial intelligence (AI). ) Enhanced customer support service. Service automation is expected to witness significant growth over the forecast period as it provides users with the capabilities they need to perform their day-to-day tasks. AI-powered customer support services help businesses improve many aspects such as loyalty, online customer experience, preventive support, brand reputation and monetization. Rising advancements in Natural Language Processing (NLP) and conversational exchange tools are expected to accelerate market growth.
A full report of Conversational Systems Market available at: https://www.orionmarketreports.com/conversational-systems-market-market/45814/
Conversational Systems Market Segments:
Based on Components
• Compute Platforms
• Solutions
• Services
Based on Type
• Voice Assisted
• Text Assistant
• Others (Gesture Recognition, Object Recognition and Expression Recognition)
Based on Applications
• Customer Support and Personal Assistant
• Branding and Advertisement
• Data Privacy and Compliance
• Others (Campaign Analysis and Data Aggregation)
Based on Verticals
• BFSI
• Media and Entertainment
• Retail and eCommerce
• Travel and Hospitality
• Telecom
• Healthcare and Life Sciences
• Others (Government, Manufacturing, Education, and Energy and Utilities)
Key Players
• Amazon Web Services, Inc.
• Artificial Solutions
• Baidu, Inc.
• Conversica, Inc.
• Google LLC
• IBM Corporation
• Microsoft Corporation
• Nuance Communications, Inc.
• Oracle Corporation
• SAP SE
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
