Chatbot Market in BFSI by Platform (Web-based and Mobile-based), Type (Software and Service), and End User (Bank, Insurance Company, and Others) - Global Opportunity Analysis and Industry Forecast, 2018-2024
- Published Date: 2020-09-07
- Report ID: 267
- Pages: 199
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Format:
Chatbot is a computer program used by technology startups to develop a communication link that works with todays digital generation and provides them with advice, actions, and plans. Chatbots simulate human conversations through artificial intelligence, but applications are being developed that enable the chatbots to communicate with each other. These bots, setup on various kinds of platforms, ensure overall enquirers satisfaction by solving their queries in the best possible manner.
Factors such as growth in need to improve customer relationship management (CRM) in BFSI sector, increase in awareness about the advantages offered by chatbots over other customer support option, and rise in integration of chatbots with social media drives the growth of the market. However, lack of technically skilled resources and lack of product differentiation are expected to impede the market growth. Furthermore, continuous technological advancements in chatbots are expected to present major opportunities for market expansion in the near future.
The global chatbot market in BFSI is segmented based on type, platform, and end user. Based on type, the market is divided into software and service. Based on platform, it is bifurcated into web-based and mobile-based. The end user segment covered in this study includes bank, financial service, and insurance company. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global chatbot market in BFSI is dominated by key players such as Artificial Solutions, Nuance Communications, Inc., eGain Corporation, Creative Virtual Ltd., Next IT Corp., 24/7 Customer Inc., Codebaby (Idavatars), Inc., Anboto, Inbenta Technologies Inc., and Aivo.
KEY BENEFITS
The study provides an in-depth analysis of the global chatbot market in BFSI and current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global chatbot market in BFSI from 2016 to 2023 is provided to determine the market potential.
KEY MARKET SEGMENTS
BY PLATFORM
Web-based
Mobile-based
BY TYPE
Software
Service
BY END USER
Bank
Insurance Company
Others
BY REGION
North America U.S.
Canada
Mexico
Europe UK
Germany
France
Italy
Rest of Europe
Asia-Pacific China
Japan
India
Australia
Rest of Asia-Pacific
LAMEA Latin America
Middle East
Africa
KEY MARKET PLAYERS
Artificial Solutions
Nuance Communications, Inc.
eGain Corporation
Creative Virtual Ltd.
Next IT Corp.
24/7 Customer Inc.
Codebaby (Idavatars), Inc.
Anboto
Inbenta Technologies Inc.
Aivo.
CHAPTER 1: INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. RESEARCH METHODOLOGY
1.3.1. Secondary research
1.3.2. Primary research
1.3.3. Analyst tools & models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3: MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies
3.2.3.1. Top winning strategies, by year 2015-2018
3.2.3.2. Top winning strategies, by development 2015-2018
3.2.3.3. Top winning strategies, by company 2015-2018
3.3. PORTER'S FIVE FORCES ANALYSIS
3.4. KEY PLAYER POSITIONING, 2017
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.1.1. Increase in need to improve customer relationship management (CRM)
3.5.1.2. Advantages of chatbots over other customer support options
3.5.1.3. Surge in integration of chatbots with social media
3.5.2. Restraints
3.5.2.1. Increased initial installment cost
3.5.2.2. Lack of product differentiation
3.5.3. Opportunity
3.5.3.1. Continuous technological advancements in chatbots
CHAPTER 4: CHATBOT MARKET IN BFSI, BY TYPE
4.1. OVERVIEW
4.2. SOFTWARE
4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast, by region
4.2.4. Market analysis, by country
4.3. SERVICES
4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast, by region
4.3.4. Market analysis, by country
CHAPTER 5: CHATBOT MARKET IN BFSI, BY PLATFORM
5.1. OVERVIEW
5.2. WEB-BASED
5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast, by region
5.2.4. Market analysis, by country
5.3. MOBILE BASED
5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast, by region
5.3.4. Market analysis, by country
CHAPTER 6: CHATBOT MARKET IN BFSI, BY END USER
6.1. OVERVIEW
6.2. BANKS
6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast, by region
6.2.4. Market analysis, by country
6.3. INSURANCE COMPANIES
6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast, by region
6.3.4. Market analysis, by country
6.4. OTHERS
6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast, by region
6.4.4. Market analysis, by country
CHAPTER 7: CHATBOT MARKET IN BFSI, BY GEOGRAPHY
7.1. OVERVIEW
7.2. NORTH AMERICA
7.2.1. Key market trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size and forecast
7.2.3.1. Market size and forecast, by type
7.2.3.2. Market size and forecast, by platform
7.2.3.3. Market size and forecast, by end user
7.2.3.4. Market size and forecast, by country
7.2.3.5. U.S.
7.2.3.5.1. Market size and forecast, by type
7.2.3.5.2. Market size and forecast, by platform
7.2.3.5.3. Market size and forecast, by end user
7.2.3.6. Canada
7.2.3.6.1. Market size and forecast, by type
7.2.3.6.2. Market size and forecast, by platform
7.2.3.6.3. Market size and forecast, by end user
7.2.3.7. Mexico
7.2.3.7.1. Market size and forecast, by type
7.2.3.7.2. Market size and forecast, by platform
7.2.3.7.3. Market size and forecast, by end user
7.3. EUROPE
7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size and forecast
7.3.3.1. Market size and forecast, by type
7.3.3.2. Market size and forecast, by platform
7.3.3.3. Market size and forecast, by end user
7.3.3.4. Market size and forecast, by country
7.3.3.5. UK
7.3.3.5.1. Market size and forecast, by type
7.3.3.5.2. Market size and forecast, by platform
7.3.3.5.3. Market size and forecast, by end user
7.3.3.6. Germany
7.3.3.6.1. Market size and forecast, by type
7.3.3.6.2. Market size and forecast, by platform
7.3.3.6.3. Market size and forecast, by end user
7.3.3.7. France
7.3.3.7.1. Market size and forecast, by type
7.3.3.7.2. Market size and forecast, by platform
7.3.3.7.3. Market size and forecast, by end user
7.3.3.8. Italy
7.3.3.8.1. Market size and forecast, by type
7.3.3.8.2. Market size and forecast, by platform
7.3.3.8.3. Market size and forecast, by end user
7.3.3.9. Rest of Europe
7.3.3.9.1. Market size and forecast, by type
7.3.3.9.2. Market size and forecast, by platform
7.3.3.9.3. Market size and forecast, by end user
7.4. ASIA-PACIFIC
7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size and forecast
7.4.3.1. Market size and forecast, by type
7.4.3.2. Market size and forecast, by platform
7.4.3.3. Market size and forecast, by end user
7.4.3.4. Market size and forecast, by country
7.4.3.5. China
7.4.3.5.1. Market size and forecast, by type
7.4.3.5.2. Market size and forecast, by platform
7.4.3.5.3. Market size and forecast, by end user
7.4.3.6. India
7.4.3.6.1. Market size and forecast, by type
7.4.3.6.2. Market size and forecast, by platform
7.4.3.6.3. Market size and forecast, by end user
7.4.3.7. Japan
7.4.3.7.1. Market size and forecast, by type
7.4.3.7.2. Market size and forecast, by platform
7.4.3.7.3. Market size and forecast, by end user
7.4.3.8. Australia
7.4.3.8.1. Market size and forecast, by type
7.4.3.8.2. Market size and forecast, by platform
7.4.3.8.3. Market size and forecast, by end user
7.4.3.9. Rest of Asia-Pacific
7.4.3.9.1. Market size and forecast, by type
7.4.3.9.2. Market size and forecast, by platform
7.4.3.9.3. Market size and forecast, by end user
7.5. LAMEA
7.5.1. Key market trends
7.5.2. Key growth factors and opportunities
7.5.3. Market size and forecast
7.5.3.1. Market size and forecast, by type
7.5.3.2. Market size and forecast, by platform
7.5.3.3. Market size and forecast, by end user
7.5.3.4. Market size and forecast, by country
7.5.3.5. Latin America
7.5.3.5.1. Market size and forecast, by Type
7.5.3.5.2. Market size and forecast, by platform
7.5.3.5.3. Market size and forecast, by end user
7.5.3.6. Middle East
7.5.3.6.1. Market size and forecast, by type
7.5.3.6.2. Market size and forecast, by platform
7.5.3.6.3. Market size and forecast, by end user
7.5.3.7. Africa
7.5.3.7.1. Market size and forecast, by type
7.5.3.7.2. Market size and forecast, by platform
7.5.3.7.3. Market size and forecast, by end user
CHAPTER 8: COMPANY PROFILES
8.1. 24/7 INC.
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Product portfolio
8.1.5. Key strategic moves and developments
8.2. AIVO
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Product portfolio
8.2.5. Key strategic moves and developments
8.3. ANBOTO
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Product portfolio
8.4. ARTIFICIAL SOLUTIONS
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Product portfolio
8.4.5. Key strategic moves and developments
8.5. INTELLIGENT DIGITAL AVATARS, INC
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Key strategic moves and developments
8.6. CREATIVE VIRTUAL LTD
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Product portfolio
8.6.4. Key strategic moves and developments
8.7. EGAIN CORPORATION
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Product portfolio
8.7.5. Business performance
8.8. INBENTA TECHNOLOGIES INC.
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Product portfolio
8.8.5. Key strategic moves and developments
8.9. VERINT SYSTEMS INC (NEXT IT CORPORATION)
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Product portfolio
8.9.5. Business performance
8.10. NUANCE COMMUNICATIONS, INC.
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Product portfolio
8.10.5. Business performance
8.10.6. Key strategic moves and developments
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