Chatbots: Market Forecasts, Sector Analysis & Competitor Leaderboard 2022-2026

• Future Market Outlook: An in-depth view of the market ecosystem, chatbot integration via channel analysis, exploration of key market constraints and challenges. This section also includes a deep dive evaluation into growth and monetisation strategies for key markets that will aid in future market growth. The 5 key markets considered in this chapter include:
  • Banking & Finance
  • eCommerce & Retail
  • Healthcare
  • Media & Entertainment
  • Travel & Hospitality
• Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 15 chatbot development vendors; positioning them as either an established leader, leading challenger, or disrupter and challenger. Our Competitor Leaderboard scores these companies on their size of operations in the chatbots space, their extent and breadth of market partnerships, the sophistication of their platforms and Juniper Research's view on each company's innovation and future business prospects. The companies included in Juniper Research's Competitor Leaderboard are:
  • [24]7.ai
  • Aivo
  • Artificial Solutions
  • Chatfuel
  • Conversica
  • Google Dialogflow
  • Gupshup
  • IBM Watson
  • Kasisto
  • Kustomer
  • LiveChat
  • ManyChat
  • Microsoft
  • Oracle
  • Pandorabots
• Benchmark Industry Forecasts: 5-year forecasts are provided for total chatbot retail spend, total advertising spend over chatbots, and total market value. These forecasts were split into four deployment channels including messaging app, app-based, web-based, and RCS chatbots for 8 key global regions and 26 select countries including:
  • Argentina
  • Australia
  • Brazil
  • Canada
  • China
  • Columbia
  • Denmark
  • France
  • Germany
  • India
  • Italy
  • Japan
  • Mexico
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Saudi Arabia
  • Singapore
  • South Africa
  • South Korea
  • Spain
  • Sweden
  • UK
  • US

1. What will the chatbot market value be in 2026?
2. Which vendors are leading the market for chatbot solutions in 2022?
3. What are the key factors driving growth in the chatbot market?
4. What are the inhibiting factors that the market is facing over the forecast period?
5. Which countries represent the biggest opportunities for chatbot development tool vendors?

Case Studied: Amazon.
 
Included in the Juniper Research Competitor Leaderboard: [24]7.ai, Aivo, Artifical Solutions, Chatfuel, Conversica, Google Dialogflow, Gupshup, IBM Watson, Kasisto, Kustomer, LiveChat, ManyChat, Microsoft, Oracle, Pandorabots.
 
Mentioned: 500 Startups, ABC News, Adidas Women, Adobe, ADT, Air Canada, American Eagle Outfitters, Apple, AT&T, Atlassian, Audiocodes, AvantStay, AVAYA, Avaya, Avid Budget Group, AVON, Baidu, Battery Ventures, BBVA, Blue Turtle Technologies, Blue Worx, BlueCross BlueShielf, Bodybuilding.com, Bolster, Carphone, CBS, Cerner, ChatWidget, Chili Piper, Circle-K, Cisco, Cisco Webex, CloudTask, Coca-Cola, Columbia, Comcast, Comm100, Commerce Ventures, Concerlytics, Content Guru, Crossbeam, CrowdTwist, DBS, Deloitte, Deutsche Bank, Direct Line Group, Dish, Distal, Dixons, Domino’s, DPD, EPCOR, Farmers Insurance, Federos, FedEx, First American Home Warranty, Fisher-Price, Five 9, Folksam, Food Network, Freshdesk, FUJIFILM, Genesys, Giorgio Armani, Glovo, Greylock Partners, Harbor Spring Capital, HBO, HCA Healthcare, HelloFresh, HelpDesk, Hermes, Hopper, HopSkipDrive, Huawei, Hyundi, IKEA, Infobip, IntelePeer, Intercom, Java, Jet.com, Just Eat UK, KFC, Kik, KLM Royal Dutch Airlines, Knight Foundation, Kotlin, L’Oréal Professionnel, La Liga, LeadFabric, LEGO, Levi’s, LG, LINE, LivePerson, Lululemon, Lumin Skin, Mai&Mai, McDonalds, Mercedes Benz, Meta, Michigan State University, Microsoft, Mitel, Moneythor, Movistar, Napier Park Financial Partners, National Geographic, Nestlé, Netflix, New York Angels, Nexmo, Nice inContact, Nimni, Nissan, NIVEA, Node.js, Nor 1, NPR One, Nuance, Nuts.com, Oak HC/FT, Objective-C, Oplogic, Oxygen Systems, Paddle PieSync, Panera Bread, Partnership Fund for New York, Patelco Credit Union, Priority Bicycles, Prograssive Insurance, Providence Strategic Growth, Radisson Hotels, Rainbow Shops, Razer, Red Bull Racing, Reebok, Renault, Reply.ai, Reynolds & Reynolds, Rho Capital Partners, Ryanair, San Francisco State University, Sauce Video, Savano Capital Partners, Scania, SelectQuote, Sequoia Capital, Shell, Siemens, Signal Wire, Singapore Airlines, Skoda, Skype, Slack, Sony, Square 2, SRI International, Success Flow Digital Ltd, SuperFish, Swisscom, Tandex, Teclab, Tecovas, TED, Telefónica, Telegram, Ten Coves Capital, The Co-operative Banking Group, The Farmer’s Dog, The Motley Fool, The Wall Street Journal, ThirdLove, Ticketmaster, T-Mobile, Toba Capital, Toyota, Twilio, Twilio, Two Sigma Ventures , Ujet, Unilever, UPS, Vendor Neutral, Virgin, Vodafone, Voximplant, Walmart, Webchat, Wells Fargo, WhatsApp, White Oak Global Advisors, WordPress, Y0 Combinator, Yamato Transport, Zendesk, Zoom.
 
 

Juniper Research’s latest Chatbots forecast suite includes:
 

• Chatbots market value, including:
  • Total Retail Spend
  • Total Advertising Spend
  • Total Market Value
• Messaging app chatbots, including:
  • Total Number of Messaging App Accessed
  • Total Transaction Value over Messaging App
• App-based chatbots, including:
  • Total Number of Chatbot-enabled Apps Accessed
  • Total Advertising Spend over App-based Chatbot Apps
  • Total Retail Spend over App-based Chatbot Apps
  • Total App-based Market Value
• Web-based chatbots, including:
  • Total Number of Website Visits that are Enabled
  • Total Advertising Spend over Web-based
  • Total Retail Spend over Web-based
  • Total Web-based Market Value
• RCS chatbots, including:
  • Total Number of RCS-capable Subscribers Making Payments via Conversational Commerce Channels
  • Total Transactions via RCS-based Conversational Commerce Channels
  • Total Spend over RCS-based Conversational Commerce Channels
• Access to the full set of forecast data of 37 tables and over 9,300 datapoints.
• Interactive Excel Scenario tool allowing users the ability to manipulate Juniper Research’s data for 5 different metrics.

Geographical splits: 26 countries

Harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform enabling clients to better understand key data trends and manipulate charts and tables, overlaying different forecasts within the one chart - using the comparison tool. Empower your business with our market intelligence centre, and get alerted whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the Interactive Scenario Tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a clients’ ability to both understand a particular market and to integrate their own views into the model.

The total number of chatbot messaging apps accessed globally will increase from 3.5 billion in 2022 to 9.5 billion by 2026. This growth of 169% will be driven by the increasing adoption of omnichannel retail strategies by eCommerce players and the rising integration of chatbots within messaging platforms. 

• Moreover, retail spend over chatbot messaging apps will account for over 50% of global chatbot retail spend by 2026. The rapid development of messaging app functionality will attract high-value online retailers to chatbot messaging apps over competing channels.
• Due to the increase in omnichannel retail, chatbot developers should form strategic partnerships with CPaaS (Communication Platform-as-a-Service) vendors to expand the reach of their services and offer a compatible solution for enterprises exploring new messaging channels, including messaging apps and RCS (Rich Communication Services).
• Additionally, vendors must develop their chatbots to integrate with voice assistants to capitalise on the growth of in-home smart speakers, such as Amazon Echo and Google Home. By implementing these voice capabilities, chatbot vendors can maximise the value proposition by encouraging voice-led conversational commerce.
• The total spend over chatbot messaging apps in China will surpass $21 billion by 2026, with applications such WeChat providing a definitive framework for chatbots that is branded for each retailer.
• Due to the success of the chatbots market in China, vendors operating outside of China should begin to emulate this framework to drive further chatbot adoption by offering services such as payment capabilities, social media and rich media. Additionally, as chatbot traffic grows, machine learning must be used to assess past conversations and further automate the omnichannel retail experience over chatbots.