The “North America Conversational AI Market By Component, By Technology, By Deployment Type, By Type, By End User, By Country, Opportunity Analysis and Industry Forecast, 2021 – 2027″ report has been added to ResearchAndMarkets.com’s offering.
The North America Conversational AI Market is expected to witness market growth of 15.2% CAGR during the forecast period (2021-2027).
The US market dominated the North America Conversational AI Services Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $1,352.9 million by 2027. The Canada market is experiencing a CAGR of 20.1% during (2021 – 2027). Additionally, The Mexico market is expected to witness a CAGR of 19% during (2021 – 2027).
The integration of natural language processing with the machine learning solutions like conversational bots and virtual agents that can help in communicating with users is known as conversational AI.
In addition, conversational AI technology is developed to utilize a huge amount of data, machine learning, and natural language processing to assist virtual agents to copy human interactions and text inputs to understand their meanings in different languages.
Additionally, conversational AI is widely utilized in integration with intelligent virtual agents or chatbots in order to communicate with a complicated system in a rapid and trusted manner. Moreover, applied conversational AI needs the integration of art and science to develop a digital application, which includes context, relevance, and personalization within a conversation between humans and computers.
Furthermore, machine learning (ML) technology with natural language processing (NLP) is developed to flow into a consistent loop with ML processes to consistently improve AI algorithms. Afterward, machine algorithms improve their response quality over time with advancement in the learning process.
The increasing interest of the companies in chatbots to provide efficient customer services is expected to support the growth of the regional market. Conversational AI can handle and solve customer requests and queries rapidly, cheaply, and constantly.
In addition, the rising popularity of messaging technology has surged the growth of messaging services utilizing conversational AI in the region. Along with that, the number of companies and individuals utilizing voice assistance-based devices is surging swiftly in the US, thereby boosting the demand for conversational AI in the regional market.
People in the US are highly utilizing voice search features than texting on their smart speakers, smartphones, and other gadgets. The growing popularity of voice-based search in the region has propelled the growth of regional conversational AI. The presence of various key market players in this region is estimated to support the growth of the regional market over the forecast period.
List of Companies Profiled in the Report:
- Microsoft Corporation
- Baidu, Inc.
- IBM Corporation
- SAP SE
- Oracle Corporation
- Google, Inc.
- Amazon.com, Inc.
- Artificial Solutions
- Conversica, Inc.
- Inbenta Technologies, Inc.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis – Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2017, Apr – 2021, Sep) Leading Players
Chapter 4. North America Conversational AI Market by Component
4.1 North America Conversational AI Platform Market by Country
4.2 North America Conversational AI Services Market by Country
Chapter 5. North America Conversational AI Market by Technology
5.1 North America Conversational AI Natural Language Processing (NLP) Market by Country
5.2 North America Conversational AI Automated Speech Recognition Market by Country
5.3 North America Conversational AI Deep Learning Market by Country
5.4 North America Machine Learning Conversational AI Market by Country
Chapter 6. North America Conversational AI Market by Deployment Type
6.1 North America Cloud Conversational AI Market by Country
6.2 North America On-premise Conversational AI Market by Country
Chapter 7. North America Conversational AI Market by Type
7.1 North America Chatbots Conversational AI Market by Country
7.2 North America Intelligent Virtual Assistant (IVA) Conversational AI Market by Country
Chapter 8. North America Conversational AI Market by End User
8.1 North America Retail & eCommerce Conversational AI Market by Country
8.2 North America BFSI Conversational AI Market by Country
8.3 North America Travel & Hospitality Conversational AI Market by Country
8.4 North America Healthcare Conversational AI Market by Country
8.5 North America Telecom Conversational AI Market by Country
8.6 North America Media & Entertainment Conversational AI Market by Country
8.7 North America Others Conversational AI Market by Country
Chapter 9. North America Conversational AI Market by Country
Chapter 10. Company Profiles
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