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Chatbot Market is poised to grow at a CAGR of 30.29% by 2027. Chatbot market is primarily driven by the rising domination of messenger applications and rising demand for customer analytics
The Global Chatbot Market is segmented by End-user Vertical (BFSI, Healthcare, IT & Telecommunication, Retail, Travel & Hospitality) and Geography.
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The Global Chatbot Market is expected to grow at a high CAGR of 14% By 2028 -DataM Intelligence
Market Overview
This is mainly due to the rise in the adoption of technologies such as AI and NLP, which have made the chatbots more intelligent to interact with humans and provide enhanced customer services easily.
A bot is simply a computer program that automates certain tasks. In the case of a chatbot, the task being automated is a 1:1 conversation with a person. These bots can use sophisticated technology like artificial intelligence and natural-language processing. Alternatively, they can be as simple as a series of IF-THEN statements. Alexa is a type of chatbot. So is the Domino’s Pizza app. Today’s chatbots reply with text, yes, and with audio, video, images, GIFs, you name it. Even the mediums for chatbots have grown exponentially — you’ve likely experienced bots in chat apps like Messenger and WhatsApp as well as on many, many websites with the little button in the corner asking if you need any help.
