Global Conversational Computing Platform Market 2019-2023

Global Conversational Computing Platform Market 2019-2023

  • June 2019 •
  • 115 pages •
  • Report ID: 5793640 •
  • Format: PDF
Global Conversational Computing Platform Market: About this market

Conversational computing platform are software programs that facilitate interactions between humans and computers through text or voice inputs. This conversational computing platform market analysis considers sales from the adoption of virtual digital assistants and chatbots. Our analysis also considers the sales of conversational computing platform in APAC, Europe, North America, South America, and MEA. In 2018, the virtual digital assistants segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increasing use of virtual digital assistants in smartphones will play a significant role in the virtual digital assistants segment to maintain its market position. Also, our global conversational computing platform market report looks at factors such as reduction in time and cost required to develop conversational computing platforms, use of chatbots simplifying customer service operations, and rising use of chatbots on messaging apps. However, issues associated with data privacy, chatbots replacing manual work, and unwanted actions performed by conversational computing platforms may hamper the growth of the conversational computing platform industry over the forecast period.

Global Conversational Computing Platform Market: Overview

Rising use of chatbots on messaging apps

The online presence of several organizations and growing need for digital ways to stay connected with customers have compelled them to use chatbots. These chatbots allow them to address potential queries of website visitors. In addition, chatbots have proved to enhance the marketing strategies of these organizations. The deployment of improved chatbots will lead to the expansion of the global conversational computing platform market at a CAGR of more than 43% during the forecast period.

Rise in the use of voice-based assistants

Virtual digital assistants are highly preferred to manage smart home devices by understanding and responding to both simple and complex commands. This is encouraging vendors to introduce smart speakers and smartphones with virtual digital assistants. It also helps them to expand their customer base. The introduction of such devices integrated with voice-based assistants is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global conversational computing platform market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global conversational computing platform market is moderately fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading conversational computing platform manufacturers, that include Amazon Web Services, Inc., Google LLC, IBM Corp., Microsoft Corp., and Nuance Communications Inc.

Also, the conversational computing platform market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.