Dublin, July 09, 2019 (GLOBE NEWSWIRE) -- The "Global Conversational Computing Platform Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.

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.

Market Segments, Drivers and Restraints

This conversational computing platform market analysis considers sales from the adoption of virtual digital assistants and chatbots. The 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, the 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.

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.

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, Google, IBM Corp, Microsoft Corp, and Nuance Communications.

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.

Key Topics Covered

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2018
• Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY TYPE

• Comparison by type
• Virtual digital assistants - Market size and forecast 2018-2023
• Chatbots - Market size and forecast 2018-2023
• Market opportunity by type

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

• Geographic comparison
• North America - Market size and forecast 2018-2023
• APAC - Market size and forecast 2018-2023
• Europe - Market size and forecast 2018-2023
• MEA - Market size and forecast 2018-2023
• South America - Market size and forecast 2018-2023
• Key leading countries
• Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

• Use of AI in conversational computing platforms
• Rise in use of voice-based assistants
• Applications in e-commerce

PART 12: VENDOR LANDSCAPE

• Overview
• Landscape disruption

PART 13: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Amazon Web Services Inc.
• Google LLC
• IBM Corp.
• Microsoft Corp.
• Nuance Communications Inc.

For more information about this report visit https://www.researchandmarkets.com/r/1u28fj

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Related Topics: Natural Language Processing