conversational computing platform market is expected to witness market growth at a rate of 58.5% in the forecast period till 2028. The report on the conversational computing platform market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

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What are Conversational Platforms?

Conversational platforms can be used by developers to build conversational user interfaces, chatbots and virtual assistants for integration into messaging platforms, social media, SMS, website chat. The offerings include a development platform to build conversational interfaces with strong NLP engines, supporting voice and text input modalities. The platform provides capabilities like dialogue management, multiple chatbots orchestration, training data maintenance

Research Fact

It is critical to provide accurate information to customers on a timely basis; 48% of organizations say that slow responses negatively impact customer satisfaction, and 41% cite answers that are inconsistent across touchpoints.

Best Practice

Organizations should incorporate as many relevant stakeholders in CEM decision-making processes, including service, sales and marketing team leaders.

 

 

North America dominates the global conversational computing platform market. The market growth attributes to the high digital transformation, adoption of cloud, and advanced technologies, such as big data and analytics. Besides, the presence of technology leaders, such as IBM Corporation, Google, and Intel, contributes to the market's growth. Moreover, usages of conversational computers in government and aerospace & defense sectors and drive the market growth.

Also, the increasing R&D investments for the development of conventional computing technologies like machine learning boost the market's growth. The US, among other North American countries, holds the highest market share in the regional market. The North American conversational computing platform market would retain its dominance throughout the forecast period.

Europe stands second in the global conversational computing platform market. The market growth is driven by the rising use of AI-based conversational platforms. Additionally, substantial investments by companies, as well as governments in the region, drive market growth. Multiple initiatives by governments in various countries in this region facilitate the development of conversational technology.

Furthermore, leading technology providers operating in the region that offer enhanced conversational computing platform solutions foster market growth, catering to enterprises' needs across industry verticals. The UK is the leading country-level market, while Germany is the rapidly growing market in the region.

The Asia Pacific conversational computing platform market is demonstrating promising growth. Factors such as the rapid economic growth and the digital transformation across the industry verticals act as a major growth propeller for the regional market. Moreover, the growing demand for conversational computing solutions from the BFSI and IT & telecom sectors offers lucrative opportunities for conversational computing vendors in the region. China, Japan, South Korea, and India are the major markets for conversational computing platforms in the region.

 

Highlight of Table of Content:

§  Chapter 1: Market overview

§  Chapter 2: Conversational Computing Platform Market Analysis

§  Chapter 3: Regional analysis of the Conversational Computing Platform Market

§  Chapter 4: Market segmentation based on types and applications

§  Chapter 5: Revenue analysis based on types and applications

§  Chapter 6: Market share

§  Chapter 7: Competitive Landscape

§  Chapter 8: Drivers, Restraints, Challenges, and Opportunities

§  Chapter 9: Gross Margin and Price Analysis

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The major players covered in the conversational computing platform market report are Alphabet Inc., IBM, Microsoft Corporation, Nuance Communications, Inc., Nuacem., Apexchat, Artificial Solutions, Conversica, Inc., Jio Haptik Technologies Limited, Rulai., Cognizant, PolyAI Ltd., Avaamo, SAP, Cognigy, Botpress, 42Chat., Accenture, Amazon.com, Inc., Oracle, Omilia Natural Language Solutions Ltd, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately

Profound Questions Answered in this Report:

·       What is the growth rate of various stages in the value chain of the industry?

·       Which region has the highest growth rate and size of the emerging market by value in 2022?

·       Who are the competitive players in Conversational Computing Platform Market?

·       Which region has the largest share and degree of competition in the industry?

·       What is the CAGR of the market during the forecast period 2022 to 2029?

·       Which region is expected to hold the highest market share for the market?

·       What is the main driver of the Conversational Computing Platform Market?

·       What is sales volume, revenue, and price analysis of top players of the market?

·       What are the market opportunities and threats faced by the vendors in the industry?

·       What has been the impact of COVID-19 on the Conversational Computing Platform Market?

 

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