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The North America conversational computing platform market size reached approximately USD 5.84 billion in 2023. The market is projected to grow at a CAGR of 30.1% between 2024 and 2032, reaching a value of around USD 64.14 billion by 2032.
Conversational computing platforms are systems or frameworks that enable machines to engage in human-like conversations. These platforms leverage natural language processing (NLP), machine learning, artificial intelligence (AI), and various other technologies to facilitate communication between computers and humans. These systems are extensively integrated into websites, social media platforms, SMS marketing strategies, and other messaging functionalities for automation.
The watsonX platform was announced in May 2023, at the annual Think conference. It empowers clients to address crucial facets of their organisation across five key business areas: engaging in conversations with customers and employees, streamlining and automating internal workflows, automating IT operations, fortifying defences against threats, and advancing sustainability objectives.
Based on type, the market can be segmented into virtual digital assistants and chatbots. The market categorisation, based on deployment type, includes cloud and on-premises. Based on end-use, the market is divided into BFSI, retail and e-commerce, healthcare and life science, travel and hospitality, telecom, and media and entertainment, among others.
The major regional markets for conversational computing platforms are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America conversational computing platform market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
According to the North America conversational computing platform market analysis, virtual digital assistants are expected to expand rapidly owing to technological advancements and changing user expectations. Virtual assistants are expanding beyond text-based interactions to incorporate voice, images, gestures, and even emotions. This multimodal approach allows for richer and more intuitive user experiences, especially with the integration of voice assistants into smart devices.
Moreover, experiments with augmented reality to enable a more immersive experience are expected to further boost the growth of the market.
The United States of America is likely to hold the leading position, accounting for a major portion of the North America conversational computing platform market share during the forecast period. The presence of leading technology companies such as IBM Corporation, Google, and Microsoft, boosts the growth of the regional market as the companies heavily invest in the advancement of conversational computing platforms.
One such development includes the launch of Assistant “with Bard”, which combines the capabilities of Google Assistant with the generative AI Bard. This enables users to generate code, draft emails, plan trips, and more, ultimately enhancing productivity and creativity.
IBM Corporation is one of the world’s leading technology companies, engaged in developing innovative solutions for various business challenges. Established in 1911, IBM has a long history of technological advancements and has evolved into a leader in enterprise solutions, cloud computing, artificial intelligence, and cognitive computing.
Microsoft Corporation is among the largest informatics technology companies, operating in a wide variety of fields, including software development, game development, computer hardware, cloud, and AI, among others. Microsoft's product portfolio spans operating systems, productivity software, cloud services (Azure), hardware (Surface devices, Xbox), and enterprise solutions (Microsoft Dynamics) catering to businesses of all sizes.
Oracle Corp. is a multinational technology company specialising in database software and technology, cloud engineering, and enterprise software products. Founded in 1977, Oracle has grown to become a prominent player in database technology and business software solutions. The company offers a comprehensive suite of software and hardware products, including databases, enterprise resource planning (ERP) software, customer relationship management (CRM) software, and cloud infrastructure and services (Oracle Cloud).
Other key players in the North American conversational computing platform market are Amazon Web Services, Inc., Alphabet Inc. (Google LLC), OpenAI OpCo, LLC, Cognigy GmbH, Tagove Limited (Acquire), Bitonic Technology Labs Inc., and Conversica, Inc., among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Deployment Type |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Conversational Computing Platform Market Overview
8.1 Key Industry Highlights
8.2 Global Conversational Computing Platform Historical Market (2018-2023)
8.3 Global Conversational Computing Platform Market Forecast (2024-2032)
8.4 Global Conversational Computing Platform Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America Conversational Computing Platform Market Overview
9.1 Key Industry Highlights
9.2 North America Conversational Computing Platform Historical Market (2018-2023)
9.3 North America Conversational Computing Platform Market Forecast (2024-2032)
10 North America Conversational Computing Platform Market by Type
10.1 Virtual Digital Assistant
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Chatbots
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 North America Conversational Computing Platform Market by Deployment Type
11.1 Cloud
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 On-Premise
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 North America Conversational Computing Platform Market by End Use
12.1 BFSI
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Retail and E-commerce
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Healthcare and Life Science
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Travel and Hospitality
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Telecom
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Media and Entertainment
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Others
13 North America Conversational Computing Platform Market by Country
13.1 United States of America
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Canada
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Amazon Web Services, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Alphabet Inc. (Google LLC)
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 IBM Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Microsoft Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Oracle Corp.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 OpenAI OpCo, LLC
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Cognigy GmbH
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Tagove Limited (Acquire)
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Bitonic Technology Labs Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Conversica, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Conversational Computing Platform Market: Key Industry Highlights, 2018 and 2032
2. North America Conversational Computing Platform Market: Key Industry Highlights, 2018 and 2032
3. North America Conversational Computing Platform Historical Market: Breakup by Type (USD Billion), 2018-2023
4. North America Conversational Computing Platform Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. North America Conversational Computing Platform Historical Market: Breakup by Deployment Type (USD Billion), 2018-2023
6. North America Conversational Computing Platform Market Forecast: Breakup by Deployment Type (USD Billion), 2024-2032
7. North America Conversational Computing Platform Historical Market: Breakup by End Use (USD Billion), 2018-2023
8. North America Conversational Computing Platform Market Forecast: Breakup by End Use (USD Billion), 2024-2032
9. North America Conversational Computing Platform Historical Market: Breakup by Country (USD Billion), 2018-2023
10. North America Conversational Computing Platform Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. North America Conversational Computing Platform Market Structure
In 2023, the market reached an approximate value of USD 5.84 billion.
The market is projected to grow at a CAGR of 30.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 64.14 billion by 2032.
The market is driven by the increasing investment by tech giants and the increasing adoption AI-driven systems to provide customer-centric solutions.
The growing technological advancements and the increasing privacy protocols are expected to drive the market during the forecast period.
The major regional markets are the United States of America and Canada.
The different end-uses are BFSI, retail and e-commerce, healthcare and life science, travel and hospitality, telecom, and media and entertainment, among others.
The key players in the market include Amazon Web Services, Inc., Alphabet Inc. (Google LLC), IBM Corporation, Microsoft Corporation, Oracle Corp., OpenAI OpCo, LLC, Cognigy GmbH, Tagove Limited (Acquire), Bitonic Technology Labs Inc., and Conversica, Inc., among others.
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