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AI-powered Chatbots Boosting the European CX Management Market, 2020

Information Technology AI-powered Chatbots Boosting the European CX Management Market, 2020

Chatbots Enhance the Customer Experience and Give Businesses Extraordinary Scaling Opportunities


RELEASE DATE
03-Feb-2021
REGION
Europe
DELIVERABLE TYPE
Market Research

RESEARCH CODE
MFC3-01-00-00-00
SKU
IT04274-GL-MT_25206
Yes
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AI-powered Chatbots Boosting the European CX Management Market, 2020
Published on: 03-Feb-2021 | SKU: IT04274-GL-MT_25206

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Description

The chatbots market is one of the fastest-growing in the ICT industry. There are several effective uses for chatbots. Businesses are applying them, in particular, to enhance their customer services and improve customer experience (CX). Chatbots are deployed across different channels, including web chat, SMS, social media, mobile chat apps, among others. Europe may have been a bit behind the United States in deploying chatbots earlier but has certainly caught up now. The European chatbot industry is very competitive. New startups constantly emerge, and many vendors are updating or about to launch their bot-related products and services. Currently, there are different types of chatbot vendors operating in Europe: Chatbot framework vendors, chatbot vendors (entry-level and enterprise-level), system integrators, and resellers. Enterprise-level chatbot vendors still represent a small share of the market but are working in the innovation frontier, creating new use-cases and supporting the transformation of the conversational AI space. The implementation of complex algorithms and new AI technologies on chatbots allow them to perform increasingly challenging tasks, and respond to and anticipate user requests based on real-time data such as user previous interactions, preferences, context, and available services. Chatbots are shifting from dealing with routine and simple tasks to engage with customers in complex conversations and ways. The implementation of chatbots brings several benefits to organizations, including the potential to increase ROI, revenue, cost savings, and improve CX. Chatbots are becoming a critical element for businesses' digital transformation roadmaps, and the emergence of new use cases enabled by advances in AI and user interfaces (UI) are assuring a bright future for this segment of the market.

Infographic
Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Effect of the Top Three Strategic Imperatives on the European Chabot Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Definitions

Definitions (continued)

Evolution of the Contact Center

What are Chatbots?

What are Chatbots? (continued)

What are Chatbots? (continued)

Chatbot Features

Chatbot Features (continued)

Chatbot Evolution

Digital Customer Service Adoption

How AI-powered Chatbots Work

How AI-powered Chatbots Work (continued)

Chatbot Environment

Chatbot Environment (continued)

Chatbot Environment (continued)

European Chatbot Market Challenges

Growth Drivers for Chatbots

Growth Restraints for Chatbots

Tasks for Chatbots—Value Throughout the Organization

Benefits of Chatbots

Limitations of Chatbots

Points to Consider When Selecting a Chatbot Vendor

End-User Organization Challenges

Vendor and Developer Challenges

Major Trends

Chatbot Provider Profiles

Vendor Profile—CM.com (CX Company)

Vendor Profile—CM.com (CX Company) (continued)

Vendor Profile—Creative Virtual

Vendor Profile—Creative Virtual (continued)

Vendor Profile—inConcert

Vendor Profile—inConcert (continued)

Vendor Profile—Synthetix

Vendor Profile—Synthetix (continued)

Growth Opportunity 1: Partnerships with Leading Players in the CX Ecosystem, 2020

Growth Opportunity 1: Partnerships with Leading Players in the CX Ecosystem, 2020 (continued)

Growth Opportunity 2: Provide Customers with Curated Guidance to Conversational AI, 2020

Growth Opportunity 2: Provide Customers with Curated Guidance to Conversational AI, 2020 (continued)

Growth Opportunity 3: Emphasis on Security and Data Compliance, 2020

Growth Opportunity 3: Emphasis on Security and Data Compliance, 2020 (continued)

Growth Opportunity 4: Augmented Intelligence Services, 2020

Growth Opportunity 4: Augmented Intelligence Services, 2020 (continued)

Growth Opportunity 5: Chatbots for Government and Public Services, 2020

Growth Opportunity 5: Chatbots for Government and Public Services, 2020 (continued)

Growth Opportunity 6: Integration with Payment Systems, 2020

Growth Opportunity 6: Integration with Payment Systems, 2020 (continued)

List of Exhibits

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The chatbots market is one of the fastest-growing in the ICT industry. There are several effective uses for chatbots. Businesses are applying them, in particular, to enhance their customer services and improve customer experience (CX). Chatbots are deployed across different channels, including web chat, SMS, social media, mobile chat apps, among others. Europe may have been a bit behind the United States in deploying chatbots earlier but has certainly caught up now. The European chatbot industry is very competitive. New startups constantly emerge, and many vendors are updating or about to launch their bot-related products and services. Currently, there are different types of chatbot vendors operating in Europe: Chatbot framework vendors, chatbot vendors (entry-level and enterprise-level), system integrators, and resellers. Enterprise-level chatbot vendors still represent a small share of the market but are working in the innovation frontier, creating new use-cases and supporting the transformation of the conversational AI space. The implementation of complex algorithms and new AI technologies on chatbots allow them to perform increasingly challenging tasks, and respond to and anticipate user requests based on real-time data such as user previous interactions, preferences, context, and available services. Chatbots are shifting from dealing with routine and simple tasks to engage with customers in complex conversations and ways. The implementation of chatbots brings several benefits to organizations, including the potential to increase ROI, revenue, cost savings, and improve CX. Chatbots are becoming a critical element for businesses' digital transformation roadmaps, and the emergence of new use cases enabled by advances in AI and user interfaces (UI) are assuring a bright future for this segment of the market.
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Federico Teveles
Industries Information Technology
WIP Number MFC3-01-00-00-00
Is Prebook No