The US chatbot market is projected to grow at a modest CAGR during the forecast period (2022-2028). The key aspect that drives the growth of the market in the US includes the increasing use of virtual assistance such as chatbots in various verticals such as healthcare, travel & hospitality, media & entertainment, BFSI, and others. Among all these sectors, the BFSI industry is one of the largest growing industry in the US, the demand for chatbots in BFSI sector has increasing rapidly owing to the increasing demand to improve customer relationship management (CRM). Chatbots in banking/insurance sectors serves their customer basic facilities such as balance inquiry, loan queries, bank account details, and build customer relation through intellectual analytics. The developments in mobile applications coupled with chatbot connectivity features is expected to drive the market during the forecast period. The presence of major market players in the US and their contribution towards market growth by developing chatbot with advanced AI and MLP technologies is also the key factor driving the market growth.
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The US chatbot market is segmented based on deployment model, component, verticals, and application. Based on the deployment model, the global chatbot market is bifurcated into on-premises, and cloud-based. Among these, the cloud-based segment is projected to hold a significant share in the global chatbot market during the forecast period. On the basis of component, it is classified into solutions and services. The service segment is anticipated to generate high revenue owing to the various services coupled with chatbots such as real-time analysis, multilingual capabilities, among others. Similarly, based on verticals, the market is categorized into healthcare, travel & hospitality, media & entertainment, telecommunication, banking & financial services, retail & e-commerce, and others. The retail & e-commerce segment is projected to be the fastest growing during the forecast period, and the BFSI segment is expected to show lucrative growth. Whereas, based on application, the global chatbot market is further segregated into customer care, branding & advertisement, data privacy & compliance, employee engagement & on-boarding, payment processing, and others.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
US Chatbot Market Report Segment
- US Chatbot Market, By Deployment Model
o On-Premises
o Cloud-based
- US Chatbot Market, By Component
o Solution
o Services
- US Chatbot Market, By Verticals
o Healthcare
o Travel and Hospitality
o Media and Entertainment
o Telecommunication
o Banking & Financial Service and Insurance (BFSI)
o Retail and E-commerce
o Others
- US Chatbot Market, By Application
o Customer Care
o Branding & Advertisement
o Data Privacy and Compliance
o Employee Engagement and On-boarding
o Payment Processing
o Others
The Report covers:
- Comprehensive research methodology of the US chatbot market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the US chatbot market.
- Insights about market determinants which are stimulating the US chatbot market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of the market players.
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