Evolve Business Intelligence has published a research report on the Global Conversational Intelligence Software Market, 2023–2033. The global Conversational Intelligence Software market is projected to exhibit a CAGR of around 7.14% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Conversational Intelligence Software Market: Active.ai, AffectLayer Inc., Avaamo, Avoma Inc., CallRail Inc., Cogito Corporation, ExecVision Inc., Gong.io, Invoca, and KreatoSoftware Inc.
Market Highlights
The global Conversational Intelligence Software market is projected to be valued at USD 52.16 Billion by 2033, recording a CAGR of around 7.14% during the forecast period. onversational Intelligence Software refers to AI-powered software that allows machines to understand and respond to human communication. The software analyzes the tone, sentiment, and context of the conversation to provide intelligent insights and actionable data. Conversational Intelligence Software is used in various industries, including customer service, sales, and marketing, to improve customer engagement and drive revenue growth.
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The COVID-19 pandemic has had a significant impact on the Conversational Intelligence Software market. With remote work becoming the new normal, companies have increasingly adopted Conversational Intelligence Software to improve customer service and support their remote workforce. The pandemic has accelerated the adoption of Conversational Intelligence Software, with many companies looking to automate customer interactions to reduce costs and improve efficiency.
Segmental Analysis
The global Conversational Intelligence Software market has been segmented based on Deployment, End-User and Vertical.
Based on the Deployment, the Conversational Intelligence Software market is segmented into On-Premise, and Cloud. The cloud segment is expected to have the larger market share throughout the forecast period.
Based on End-User, the global Conversational Intelligence Software market has been divided into SMEs, and Large Enterprises. The Large Enterprises segment is anticipated to dominate the market.
Based on Vertical, the global Conversational Intelligence Software market has been divided into IT & Telecommunications, Retail, BFSI, Real Estate, and Other Verticals. the IT and telecommunications segment holds the largest share of the market during the forecast period.
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Regional Analysis
The Conversational Intelligence Software market is divided into five regions: North America, Europe, Asia-Pacific, South America, and Middle East, & Africa. Among these regions, North America holds the largest share of the market due to the presence of several key players, a high adoption rate of advanced technologies, and a matured IT infrastructure. Europe is also expected to witness significant growth in the Conversational Intelligence Software Market due to the increasing adoption of cloud-based services, a rise in demand for efficient customer engagement solutions, and advancements in artificial intelligence and natural language processing technologies. The region is also home to several established players in the market, further driving the growth of the industry. Additionally, increasing investments by governments and private organizations in the development of advanced technologies are expected to further boost the growth of the market in Europe.