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Report Title

Conversational System Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023

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Conversational System Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023


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Conversational System Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023

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Conversational System Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023



Executive Summary

Overview:

 

The conversational system is a cognitive computing tool, which can process a simple and bidirectional text/voice dialog into meaningful output. It is an advanced model that makes use of multiple modalities (sound, sight, and tactile) to provide communication across the digital device mesh (IoT systems, sensors, and appliances). These systems can be used to process complex conversation; for instance, collecting verbal description from the witness and generating the sketch of the suspect for the police investigation purpose.

 

The conversational system is mainly an interactive platform designed to communicate with humans with specified coherent structure. These conversations are enabled with gestures, haptic feedback, and others. Conversational systems implement the functionalities of cognitive computing, artificial intelligence, Internet of Things, and others. These systems consist of hardware and software components being used to generate appropriate output responses. The deployment models for this system are cloud-based and on-premise.

 

Market Analysis:

 

According to Infoholic Research, the global conversational systems market revenue is expected to reach USD 850.65 million by 2023, growing at a CAGR of around 26.03% during the forecast period. Increasing IoT connectivity, M2M communication, need for real-time computing of time-critical process, and increase in demand for connected devices majorly drive the conversational systems market growth. In addition, the availability of a large volume of data and rapidly growing data complexity in the organization will spur the demand for conversational systems. The increase in the need for self-learning systems to mimic human brains is the primary factor responsible for the development of the industry.

 

Market Segmentation Analysis:

 

The report provides a wide-ranging evaluation of the market. It provides in-depth qualitative insights, historical data, and supportable projections & assumptions about the market size. The projections featured in the report have been derived using proven research methodologies and assumptions based on the vendor's portfolio, blogs, whitepapers, and presentations. Thus, the research report serves every side of the market and is segmented based on regional markets, deployment, and end-users.

 

Countries and Vertical Analysis:

 

The report contains an in-depth analysis of the vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies, and views; and competitive landscape. The key and the prominent vendors covered in the report include 3M, Enterra Solutions, IBM Corporation, Hewlett-Packard, Google, Palantir Technologies, Microsoft Corporation, and others. Most of the major players are in the Americas region. The vendors have been identified based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D.

 

The countries covered in the report are the US, Canada, the UK, France, Germany, India, China, and, Japan. Among these, Japan, the US, and China are expected to grow at a high rate during the forecast period (2017-2023) owing to an increase in the penetration rate of connected devices and growing popularity of the smartphones.

 

Competitive Analysis

 

The report covers and analyses the global conversational systems market. Various strategies, such as joint ventures, partnerships, collaborations, and contracts, have been considered. In addition, as customers are in search of better solutions, there will be a rise in the number of partnerships along with mergers, acquisitions, and collaborations during the forecast period.

 

The report includes complete insights of the industry and aims to provide an opportunity for the emerging and established players to understand the market trends, current scenario, initiatives taken by the government, and the latest technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.

 

Regional Analysis

 

The Americas is the dominating region, which holds the largest share of the global conversational systems market owing to the presence of major players in this region. In addition, they have the largest base for technological innovations and adoption. Asia Pacific (APAC) is among the fastest growing regions in the global conversational systems market. Emerging economies, such as China and India, are developing on technology innovation; and increasing adoption of automated tool to enhance productivity at the workplace is the key driver for the growth of the market in the Asia Pacific region. EMEA is expected to capture the third largest market share in terms of revenue due to the huge involvement of technology in various sectors including BFSI, manufacturing, education, and healthcare.

 

Benefits

 

The report provides an in-depth analysis of the global conversational systems market aiming to reduce time to market for products and services, reduce operational cost, improve accuracy, and operational performance. The report offers a comprehensive evaluation of the market. It provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies, primary calls, and valid assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to regional markets, technology, types, and applications. Further, the report provides details about the major challenges impacting the market growth.

Table of Contents

1 Industry Outlook 8

1.1 Industry Overview 8

1.2 Industry Trends 8

1.3 PEST Analysis 8

2 Report Outline 9

2.1 Report Scope 9

2.2 Report Summary 10

2.3 Research Methodology 10

2.4 Report Assumptions 11

3 Market Snapshot 11

3.1 Total Addressable Market 11

3.2 Segmented Addressable Market 12

3.3 Related Markets 13

1. AI in Homes 13

2. Smart Meters 13

4 Market Outlook 14

4.1 Overview 14

3. Market Definition-Infoholic Research 15

4.2 Market Trends and Impact 15

4.3 Market Segmentation 15

4.4 Porter 5 (Five) Forces 16

5 Market Characteristics 17

5.1 Evolution 17

5.2 Value Chain 18

5.3 Benefits and Challenges of Conversational System Market 18

5.4 Factors Influencing Conversational System 18

5.5 Market Dynamics 19

4. Drivers 20

5.5.1.1 Focusing on IoT, and M2M communication system 20

5.5.1.2 Proliferation of digital intelligent devices 20

5.5.1.3 Data boom and digitalization 20

5.5.1.4 Enhanced global broadband connectivity 20

5. Restraints 21

5.5.1.5 High upfront cost 21

5.5.1.6 Lack of standards and interoperability 21

5.5.1.7 Supports High-End Smart Devices 21

5.5.1.8 Low awareness 21

6. Opportunities 22

5.5.1.9 Opportunities for growth of wearable devices 22

5.5.1.10 Opportunities from developing economy 22

5.5.1.11 Opportunities for telecom providers 22

5.6 DRO-Impact Analysis 23

6 End-Users 23

6.1 Overview 23

6.2 Telecom & IT 24

7. Market Size and Analysis 24

6.3 Public Sector 25

8. Market Size and Analysis 25

6.4 Energy & Utilities 26

9. Market Size and Analysis 26

6.5 Retail 26

10. Market Size and Analysis 27

6.6 Manufacturing 27

11. Market Size and Analysis 28

7 Deployment 28

7.1 Overview 28

7.2 Cloud-based 29

7.3 On-Premise 30

8 Regions 31

8.1 Overview 31

8.2 Americas 32

12. Market Size and Analysis 32

13. DRO for the Americas 33

14. US 34

15. Canada 34

8.3 EMEA 35

16. Market Size and Analysis 35

17. DRO for EMEA 36

18. UK 37

19. France 37

20. Germany 37

8.4 APAC 37

21. Market Size and Analysis 38

22. DRO for APAC 38

23. India 39

24. China 40

25. Japan 40

9 Vendor Profiles 40

9.1 Microsoft Corporation 40

Overview 40

1.1.1. Business Units 41

1.1.2. Business Focus 43

1.1.3. SWOT Analysis 44

1.1.4. Business Strategies 44

9.2 IBM Corporation 45

1.1.5. Overview 45

1.1.6. IBM Corporation: Overview snapshot 46

1.1.7. Business Units 46

1.1.8. Geographic Revenue 48

1.1.9. Business Focus 48

1.1.10. SWOT Analysis 48

1.1.11. Business Strategies 49

9.3 Google Inc. 50

26. Overview 50

27. Business Units 51

28. Geographic Revenue 52

29. Business Focus 53

30. SWOT Analysis 53

31. Business Strategies 54

10 Global Generalist 54

10.1 SAP SE 55

32. Overview 55

10.2 Numenta 55

33. Overview 55

10.3 Palantir Technologies 55

34. Overview 55

10.4 Enterra Solutions 55

35. Overview 55

10.5 Nuance Communications Inc 56

36. Overview 56

10.6 Tibco Software 56

37. Overview 56

10.7 Saffron Technology 57

38. Overview 57

10.8 Cognitive Scale 57

39. Overview 57

Annexure 58

Abbreviations 58

 

 

To know more information on Purchase by Section, please send a mail to sales@kenresearch.com

Charts

 

CHART 1 PEST ANALYSIS OF CONVERSATIONAL SYSTEM MARKET 8

CHART 2 RESEARCH METHODOLOGY OF CONVERSATIONAL SYSTEM MARKET 10

CHART 3 AI MARKET REVENUE, 2017-2023 (USD MILLION) 12

CHART 4 CONVERSATIONAL SYSTEM MARKET REVENUE, 2017-2023 (USD BILLION) 12

CHART 5 CONVERSATIONAL SYSTEM MARKET SEGMENTATION 15

CHART 6 PORTER 5 FORCES OF CONVERSATIONAL SYSTEM MARKET 16

CHART 7 EVOLUTION OF CONVERSATIONAL SYSTEM MARKET 17

CHART 8 VALUE CHAIN OF CONVERSATIONAL SYSTEM MARKET 18

CHART 9 FACTORS AFFECTING THE CHOICE OF CONVERSATIONAL SYSTEM 18

CHART 10 MARKET DYNAMICS-DRIVERS, RESTRAINTS & OPPORTUNITIES 19

CHART 11 DRO-IMPACT ANALYSIS OF SMART HOMES M2M MARKET 23

CHART 12 CONVERSATIONAL SYSTEM MARKET SHARE BY END-USERS, 2017 AND 2023 23

CHART 13 TELECOM & IT MARKET REVENUE, 2017-2023 (USD MILLION) 24

CHART 14 PUBLIC SECTOR MARKET REVENUE, 2017-2023 (USD MILLION) 25

CHART 15 ENERGY & UTILITIES MARKET REVENUE, 2017-2023 (USD MILLION) 26

CHART 16 RETAIL MARKET REVENUE, 2017-2023 (USD MILLION) 27

CHART 17 MANUFACTURING MARKET REVENUE, 2017-2023 (USD MILLION) 28

CHART 18 CONVERSATIONAL SYSTEM BY DEPLOYMENT, 2017 AND 2023 28

CHART 19 CLOUD-BASED MARKET REVENUE, 2017-2023 (USD MILLION) 30

CHART 20 ON-PREMISE MARKET REVENUE, 2017-2023 (USD BILLION) 30

CHART 21 CONVERSATIONAL SYSTEM MARKET SHARE BY REGIONS, 2017 AND 2023 31

CHART 22 AMERICAS MARKET REVENUE, 2017-2023 (USD MILLION) 32

CHART 23 EMEA MARKET REVENUE, 2017-2023 (USD BILLION) 35

CHART 24 APAC MARKET REVENUE, 2017-2023 (USD MILLION) 38

CHART 25 MICROSOFT CORPORATION: OVERVIEW SNAPSHOT 41

CHART 26 MICROSOFT CORPORATION: BUSINESS UNITS 42

CHART 27 MICROSOFT CORPORATION: SWOT ANALYSIS 44

CHART 28 IBM CORPORATION: BUSINESS UNITS 47

CHART 29 IBM CORPORATION: GEOGRAPHIC REVENUE 48

CHART 30 IBM CORPORATION: SWOT ANALYSIS 48

CHART 31 GOOGLE INC.: OVERVIEW SNAPSHOT 50

CHART 32 GOOGLE INC.: BUSINESS UNITS 51

CHART 33 GOOGLE INC.: GEOGRAPHIC REVENUE 52

CHART 34 GOOGLE INC.: SWOT ANALYSIS 53

 

Tables

 

TABLE 1 CONVERSATIONAL SYSTEM MARKET REVENUE BY APPLICATIONS, 2017-2023 (USD MILLION) 23

TABLE 2 CONVERSATIONAL SYSTEM MARKET REVENUE BY CONNECTIVITY TECHNOLOGIES, 2017-2023 (USD MILLION) 29

TABLE 3 CONVERSATIONAL SYSTEM MARKET SHARE BY REGIONS, 2017-2023 (USD MILLION) 32

TABLE 4 DRO FOR THE AMERICAS 33

TABLE 5 AMERICAS MARKET REVENUE BY APPLICATIONS, 2017-2023 (USD BILLION) 33

TABLE 6 AMERICAS MARKET REVENUE BY TECHNOLOGY, 2017-2023 (USD BILLION) 34

TABLE 7 DRO FOR EMEA 36

TABLE 8 EMEA MARKET REVENUE BY APPLICATIONS, 2017-2023 (USD MILLION) 36

TABLE 9 EUROPE MARKET REVENUE BY DEPLOYMENT, 2017-2023 (USD BILLION) 36

TABLE 10 DRO FOR APAC 38

TABLE 11 APAC MARKET REVENUE BY APPLICATIONS, 2017-2023 (USD BILLION) 38

TABLE 12 APAC MARKET REVENUE BY DEPLOYMENT, 2017-2023 (USD MILLION) 39

 

Microsoft Corporation, IBM Corporation, Google Inc. SAP SE, Numenta, Palantir Technologies, Enterra Solutions, Tibco Software, Saffron Technology, Cognitive Scale


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