The North America Conversational Systems Market would witness market growth of 26.9% CAGR during the forecast period (2019-2025).
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 further generating the sketch of the suspect for the police investigation purpose.
North America has contributed considerably into the conversational systems market and the expectation is to grow further. The US is the major adopter of conversational systems in this region. Moreover, in the presence of global vendors like IBM, Google, Microsoft, and AWS is playing an important role in the execution of conversational systems solutions in the market. Europe has captured the second largest market share regarding revenue with huge involvement of technology in different sectors like BSFI, Manufacturing, Healthcare and Education. The countries in North America are considered to be advanced markets in terms of technology adoption, considering it, the market is estimated to witness a huge growth over forthcoming years.
Based on Application, the market is segmented into Customer Support & Personal Assistance, Branding & Advertisement, Data Privacy & Compliance and Others. Based on Type, the market is segmented into Text Assistant, Voice Assistant and Others. Based on Component, the market is segmented into Compute Platforms, Solutions and Services. Based on End User, the market is segmented into BFSI, Retail & Ecommerce, Telecom, Media & Entertainment, Healthcare & Life sciences, Travel & Hospitality and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google Inc., Microsoft Corporation, IBM Corporation, Amazon.com, Inc., Oracle Corporation, SAP SE, Nuance Communications, Inc., Inbenta Technologies, Inc., Conversica, Inc., and Baidu, Inc.
Market Segmentation:
By Component
By Type
By Application
By End User
By Country
Companies Profiled
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