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COVID-19 Impact Analysis on Global Chatbot Market and it’s Projected to Garner $19,570 Million Revenue by 2027, and Rise at a CAGR of 28.7% from 2020 to 2027 – Exclusive Business Opportunity [241 pages] Report by Research Dive

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New York, USA, Oct. 14, 2021 (GLOBE NEWSWIRE) — Research Dive states that the global chatbot market is likely to register a revenue of $19,570 million by 2027, at a CAGR of 28.7% during the forecast period from 2020 to 2027. The all-inclusive report provides a brief summary of the current market scenario comprising major aspects of the market such as growth factors, restraints, challenges, and numerous growth opportunities. The report also provides all the market estimations making it easier as well as helpful for the new participants to get better idea of the market.

Download Free Sample Report of the Global Chatbot Market: https://www.researchdive.com/download-sample/5985

Market Dynamics

As per the analysts of Research Dive, the growing adoption of chatbots by leading companies in various sectors such as healthcare, banking, etc. to handle queries and customer support is the major factors anticipated to accelerate the growth of the global chatbot market over the forecast period. In addition, strategic collaboration, business expansions, and product innovations by tech-giants are other factors expected to drive the market growth by 2027. Moreover, technological advancements in chatbots is likely to generate lucrative growth opportunities for the global industry in the analysis period. However, the lack of awareness and the complex management of chatbots may restrict the market growth in the coming years.

COVID-19 Impact on the Global Chatbot Market

The outbreak of COVID-19 pandemic has had a positive impact on the chatbot market growth. This is mainly due to the deployment of chatbots in various industries, such as banking & insurance, retail, and healthcare for responding to customer’s queries and other tasks. Besides, various organizations adopted remote working facility owing to the lockdown conditions in the majority of countries across the globe. These companies are hugely dependent on chatbots due to less availability of employees. These factors are driving the growth of the chatbot market during the pandemic period.

Check out How COVID-19 impacts the Global Chatbot Market: https://www.researchdive.com/connect-to-analyst/5985

Segments of the Market

The report has divided the market into different segments based on component type, deployment, usage, end user, and region.

Solution Sub-segment to Hold the Largest Market Share

By component type, the solution sub-segment for the chatbot market is projected to generate a revenue of $10,763.8 million by 2027 and account for the majority of market share over the forecast period. This is mainly owing to the technological advancements coupled with growing customer demand for self-services.

Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights

Cloud Sub-segment to be Most Lucrative

By deployment, the cloud sub-segment valued for $1,144.5 million in 2019 and is expected to be most lucrative during the forecast period. This growth is mainly because cloud-based chatbots handle various types of confidential business information, such as client contact details, supply chain management, invoices & accounting, employees’ social security numbers, and other business intelligence.

Social Media Sub-segment to Witness Fastest Growth

By usage, the social media sub-segment is predicted to account for $4,686.4 million by 2027 and witness the fastest growth over the forecast period. The significant growth of the sub-segment is mainly because chatbots help in growing efficiency of work on social media as they generate a more personal engagement with customers. Besides, shortening of sales cycles, discovering customer’s wants, and rapid expansion of sales pipeline are other factors predicted to drive the sub-segment’s growth by 2027.

Check out all Information and communication technology & media Industry Reports: https://www.researchdive.com/information-and-communication-technology-and-media

Travel & Tourism Sub-segment to Observe Lucrative Growth

By end user, the travel & tourism sub-segment is predicted to account for $2,591.1 million by 2027 and witness lucrative growth during the forecast period. This growth is majorly due to the increasingly growing demand for more meaningful and better travel experiences among the travelers around the globe.

North America Region to be Most Profitable

By region, the North America chatbot market accounted for $776.1 million in 2019 and is predicted to witness significant growth during the forecast period. This growth can be attributed to the rapid growth in the deployment of chatbots in several business verticals. Besides, technological innovations such as internet of things (IoT), artificial intelligence, and APIs are evolving at a fast speed. These factors are expected to boost the regional market growth by 2027.

Prominent Market Players

The report presents several aspects of these major players such as business & financial performance, strategic moves by key players, latest developments, product portfolio, and SWOT analysis. Some of the top players of the global chatbot industry are:

1. Kevit
2. Conversica, Inc
3. Yellow Messenger
4. CONTUS.
5. KeyReply
6. Aivo
7. [24]7. Ai
8. International Business Machine Corporation
9. Amazon Web Services, Inc
10. Google Inc.

These players are implementing several strategies to gain a chief position in the global industry.

For instance, in February 2021, Kore.ai, the leading provider of an end-to-end, comprehensive AI powered ‘no-code’ platform, announced the launch of a Virtual Assistant Platform in Japanese to better serve Japan region’s needs.

The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.

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Artificial Intelligence

Jean-Michel Jarre is world’s first passenger to take off in KleinVision’s flying AirCar

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PIESTANY, Slovakia, April 24, 2024 /PRNewswire/ — Godfather of electronic music and innovator Jean-Michel Jarre becomes world’s first passenger to take off in KleinVision’s flying AirCar in preparation for Starmus Opening Concert also Featuring Sir Brian May of Queen.

KleinVision’s AirCar took to the skies with electronic music pioneer, Jean-Michel Jarre as its first passenger this month, signaling a new era of transportation innovation. AirCar, which received the Certificate of Airworthiness in January 2022, has already logged an impressive 130 flight hours and over 520 takeoffs.
“It is like being in a Jules Verne book, but for real! One second you speak to the driver, and next, you are up there in the air – an amazing experience!” said Jean-Michel Jarre after completing two flights in the AirCar at Piestany international airport.
The artist’s excitement was palpable as he marveled at the futuristic experience, perfectly reflecting the theme of his upcoming Starmus opening concert, ‘The Bridge from the Future’, powered by ESET, global digital security leader.
“AirCar addition to Starmus is a fantastic complement to our festival experience,” said Garik Israelian, PhD, astrophysicist at the Institute of Astrophysics of the Canary Islands and co-founder of Starmus, alongside Sir Brian May. “It mirrors the exhilarating journey we embark on, starting with Jean-Michel and Brian’s monumental concert that propels us to new heights, soaring alongside artists and inspiring thinkers like Jane Goodall, and coming back to Earth with the wisdom of astronaut Chris Hadfield once the festival concludes.”
“AirCar will not only be part of the Starmus opening concert, it will also be showcased at Starmus Camp, which, together with the Stephen Hawking Medal Ceremony and nine Nobelists giving lectures, will turn Bratislava into the world capital of science.”
Film director Todd Douglas Miller, Emmy Award-winning filmmaker of Apollo 11, captured the historic moment as he filmed the AirCar soaring at 2500 feet. “It looks impossible. It looks like it’s doing something it should not be doing!” Miller remarked, highlighting the groundbreaking nature of AirCar.
Professor Stefan Klein, inventor and pilot, expressed his pride as Jean-Michel became the inaugural passenger on the groundbreaking aircraft. “From dreams to reality, we have taken flight together with Jean-Michel, opening a new era of transportation with a touch of magic,” said Klein, moments before completing another successful intercity flight from Piestany to Nitra.
Anton Zajac, co-founder of KleinVision and ESET, lauded the advancement the AirCar represents in blurring the lines between roads and skies. “We are bridging the gap between the road and the sky, giving cars the freedom they symbolized 50 years ago,” Zajac remarked.
The flights took place in Piestany, Slovakia, and marked a momentous step towards a future where terrestrial and aerial travel seamlessly converge.
To see the short footage of the flight, click here. 
Photo – https://mma.prnewswire.com/media/2395057/Klein_Vision.jpg

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Artificial Intelligence

SUPCON Unveils Groundbreaking Products in June, Including the World’s First UCS

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HANGZHOU, China, April 24, 2024 /PRNewswire/ — In June, SUPCON (688777) is poised to launch two groundbreaking products in Singapore: the world’s first UCS (Universal Control System) and TPT (Time-Series Pre-trained Transformer), the first time-series model in the process industry.

UCS, a revolutionary innovation from SUPCON, is set to revolutionize the 50-year-old DCS architecture, promising to eliminate traditional control cabinets.
TPT, as the pioneering time-series model in the process industry, will replace numerous traditional industrial apps and overcome unsolved industrial challenges.
SUPCON, founded in 1999, is a prominent global provider of intelligent manufacturing solutions for process industries. The company is committed to the development and application of AI technology through the integration of advanced products and extensive industry know-how. With a global customer exceeding 30,000, SUPCON’s products address all needs across over 50 countries and regions, encompassing sectors like oil & gas, refinery & petrochemical, chemical, etc. Aiming at high-quality and sustainable development, SUPCON is on the way to facilitate the automation and intelligentization of the global process industry.
In 2023, SUPCON’s core products, the Distributed Control System (DCS) and the Safety Instrumented System (SIS), both claimed the top market share position in China, achieving respective figures of 37.8% and 33.7%. Notably, the DCS has maintained the No.1 position for a consecutive 13th year.

View original content:https://www.prnewswire.co.uk/news-releases/supcon-unveils-groundbreaking-products-in-june-including-the-worlds-first-ucs-302125406.html

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Artificial Intelligence

Automation Anywhere Appoints Tim McDonough as Chief Marketing Officer to Drive Global Awareness and Growth for the Leader in AI-Powered Automation

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SAN JOSE, Calif., April 23, 2024 /PRNewswire/ — Automation Anywhere, a leader in AI-powered automation solutions, announced that AI marketing leader ﷟Tim McDonough joined the company as chief marketing officer (CMO). McDonough, who brings more than two decades of experience in driving growth across startups and Fortune 100 companies, will shape and lead Automation Anywhere’s global brand and growth strategies and go-to-market functions.

 
McDonough joins Automation Anywhere from Intel, where he recently served as vice president and CMO of AI and data centers. McDonough oversaw the transformation of the $14 billion-plus business unit, while guiding the company’s strategy and positioning in the AI market.
“Tim joins us at an incredible time in our journey as we experience a new phase of growth ignited by the transformative benefits of our generative AI process automation models that are transforming our customers’ businesses,” said Mihir Shukla, CEO, Automation Anywhere. “Tim’s impressive experience will be instrumental in our efforts to empower organizations to achieve amazing results by automating more than forty percent of workflows and tasks, and saving millions, even billions, of dollars.”
Prior to Intel, McDonough held executive roles at leading technology companies, including Unity Technologies, Qualcomm, and Microsoft. McDonough’s track record of enterprise and C-suite marketing spans developed and emerging technologies, including AI tools, applications, software-as-a-service (SaaS) solutions, and developer ecosystems.
“I’m looking forward to helping lead Automation Anywhere through its next phase growth as it helps companies transform their business,” said McDonough. “Seeing how customers are innovating with Automation Anywhere’s platform demonstrated to me the incredible market opportunity we have. When you combine automation with generative AI, customers can now go beyond task or departmental impact and automate at an enterprise level, empowering companies and employees to do their very best work.”
McDonough’s appointment comes at a time of remarkable opportunity for the company, marked by Automation Anywhere’s recent record-breaking fourth-quarter performance, continued profitability, and strong outlook in its current fiscal year. Last quarter, Automation Anywhere reported 50 percent growth in large enterprise deals from the previous quarter, highlighting the company’s momentum and strong market position.  
About Automation Anywhere  
Automation Anywhere is the leader in AI-powered process automation that puts AI to work across organizations. The company’s Automation Success Platform is powered with generative AI and offers process discovery, RPA, end-to-end process orchestration, document processing, and analytics, with a security and governance-first approach. Automation Anywhere empowers organizations worldwide to unleash productivity gains, drive innovation, improve customer service, and accelerate business growth. The company is guided by its vision to fuel the future of work by unleashing human potential through AI automation. Learn more at http://www.automationanywhere.com/.  
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