South Asia and Pacific region is expected to showcase the highest CAGR of 19% from 2022-2032. IT & telecom industry held the largest share in 2021 in the conversational commerce market
NEWARK, Del: According to Future Market Insights, the global conversational commerce market is expected to grow at a CAGR of 15.6% during the forecast period of 2022 to 2032. The market is set to reach a valuation of US$ 26,301.8 Mn by the end of 2032. As per FMI, by 2022, it is projected to be valued at US$ 6,147.1 Mn.
Conversational commerce is one of the major aspects of e-commerce which deals with customer interaction by using chatbots, messenger applications, and social media. It allows brands or companies to better understand the concerns, issues, complaints, and requests of their clients and customers. This form of conversation can create a more natural, informal, and personalized communication between the two parties through which both parties can benefit.
Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15465
Key Takeaways: Conversational Commerce Market
- By component, the solution segment reached a valuation of US$ 3,441.2 Mn in 2021.
- By type, the chatbots segment is anticipated to lead the global market with a share of nearly 59.5% by 2032.
- By deployment mode, the on-premises segment was worth US$ 3,147.3 Mn in 2021.
- By enterprise size, the large enterprises segment dominated the market in 2021 with a valuation of US$ 2,971.0 Mn.
- By business function, the sales segment was valued at US$ 1,538.9 Mn in 2021.
“Increasing penetration of the internet in regions like South Asia and Pacific is likely to boost the use of social media, thereby encouraging companies to communicate with their customers through conversational commerce. Besides, new solutions can help companies to address and clear repetitive questions, doubts, and prevent the exchange of false information,” says a FMI analyst.
Investments by Companies to Launch Social Media Marketing Campaigns Will Aid Growth
Messaging applications like WhatsApp are equipped with various features that would help businesses to boost their growth. Social media platforms like Instagram allow companies to share updates, sell their products, and interact with customers online.
Social media platforms are considered to be an ideal place for companies to market their products and services as their target customers are usually active on these platforms, especially if they are young. Being open to accepting messages from consumers, companies can allow the exchange of raw and direct messages.
This would further enable businesses to better understand various problems that their customers are facing to approach and solve the issue. Personalized interactions with customers can also help improve the brand image and enhance sales.
Ask an Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-15465
More Valuable Insights on Conversational Commerce Market
In this report by Future Market Insights, conversational commerce has been segmented into seven sections: by component: solution and services (training and consulting services, system integration and implementation services, support and maintenance services), type (chatbots, intelligence virtual assistants), deployment mode (cloud and on-premises), enterprise size (large enterprise, small and medium-sized enterprises (SMEs)), business function (sales, finance, HR, operations, IT service management), industry (BFSI, healthcare and life science, IT & telecom, retail and e-commerce, travel and hospitality, media and entertainment, automotive, others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa) to help readers understand and evaluate lucrative opportunities in the conversational commerce demand outlook.
Conversational Commerce Market Outlook by Category
By Component:
- Solution
- Services
- Training and Consulting Services
- System Integration and Implementation Services
- Support and Maintenance Services
By Type:
- Chatbots
- Intelligent Virtual Assistants
By Deployment Mode:
- Cloud
- On-Premises
By Enterprise Size:
- Small and Mid-Sized Enterprises (SMEs)
- Large Enterprises
By Business Function:
- Sales
- Finance
- HR
- Operations
- IT Service Management
By Industry:
- BFSI
- Healthcare and Life Sciences
- IT & Telecom
- Retail and E-commerce
- Travel and Hospitality
- Media and Entertainment
- Automotive
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
Report Customization available @ https://www.futuremarketinsights.com/customization-available/rep-gb-15465
Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition
- Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Solution Innovation / Development Trends
3.3. Key Success Factors
View Full Report @ https://www.futuremarketinsights.com/reports/conversational-commerce-market
Have a Look at Related Research Reports of Technology
Conversational AI Market Size: The Conversational AI Market is anticipated to grow at a prodigious CAGR of 17.2% during the period of 2022-2032
Social Commerce Market Share: The global social commerce market is anticipated to reach US$ 945.92 billion in 2023. The adoption of social commerce is expected to surpass US$ 13,040.3 billion by 2033
Digital Commerce Platform Market Trends: Expanding at an impressive CAGR of 12.6%, the global digital commerce platform market is projected to surge from a valuation of US$ 3.41 Bn in 2022 to US$ 7.85 Bn by 2029
Digital Commerce Market Analysis: The size of the digital commerce market which was estimated to be worth US$5.58 trillion in 2022 is expected to increase to US$ 22.76 trillion by 2032
Online To Offline Commerce Market Outlook: Online to offline commerce is a business model that draws potential customers from online channels to physical store. Over the years, this idea has evolved with the evolution of e-commerce industry
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.