Conversational system is an interactive platform designed to communicate with humans with specified coherent structure. These conversations are facilitated with gestures, haptic feedbacks, and others. Conversational systems implement the functionalities of cognitive computing, artificial intelligence, Internet of Things (IoT), and others. These systems consist of hardware and software components used to generate appropriate output responses. The deployment models for this system are cloud based and on-premise.
Rise in need for advanced conversational tools, technological advancements regarding new product development, rise in demand for improved analytical tools, and increase in complexity associated with data processing drive the global conversational systems market. However, presence of low level of awareness about products and services is expected to impede the market growth. Increased adoption among developing economies offers a major opportunity for market expansion.
The global conversational systems market is segmented on the basis of deployment, end-use industry, and geography. Based on deployment, it is classified into cloud based and on-premise. Based on end-use industry, it is divided into telecom & IT, public sector, energy & utilities, retail, manufacturing, healthcare & life sciences, education, and BFSI. Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global conversational systems market is dominated by key players such as Google, Cognitive Scale, IBM Corporation, Hewlett-Packard, Microsoft Corporation, Oracle Corporation, Nuance Communications Inc, SAP SE, Tibco Software, Saffron Technology, and others.
Key Benefits :
- The study provides an in-depth analysis of the market and current & future trends to elucidate the imminent investment pockets.
- Information about the key drivers, restrains, and opportunities is provided.
- Porters Five Forces analysis illustrates the potency of buyers & suppliers operating in the industry.
- The quantitative analysis of the global market from 2017 to 2023 is provided to determine the market potential.
Conversational Systems Market Key Segments:
- Cloud Based
By End-Use Industry
- Telecom & IT
- Public Sector
- Energy & Utilities
- Healthcare & Life Sciences
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled In The Report
- Cognitive Scale
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Nuance Communications Inc.
- SAP SE
- Tibco Software
- Saffron Technology