Market Share of Chatbot Industry
The chatbot market is highly competitive, owing to the presence of many small and large players. This fragmentation is due to the relative ease of developing chatbot applications using open-source frameworks, APIs, and development platforms. As a result, numerous small-scale vendors have entered the market, contributing to its fragmentation. Some prominent players in the market are IBM Corporation, eGain Corporation, Nuance Communications, Creative Virtual Ltd, and Avaamo Inc.
- April 2023 - Zendesk partnered with OpenAI, a prominent America-based AI research laboratory. The firm would provide its users with AI-supported solutions to simplify ticket-generating activities for CX and customer service employees. Zendesk and OpenAI are working together to improve the capabilities of Zendesk's foundation models, which are proprietary, by integrating them with OpenAI's.
- January 2023 - Kore.ai declared that the firm would introduce RetailAssist, a conversational sales assistant solution for the retail sector, at the National Federation of Retailers exhibition (NRF 2023) in New York City. RetailAssist helps retail and e-commerce businesses modernize, scale, and transform operations by developing expertise in self-service automation, customization, omnichannel fulfillment, and 24/7 pre-/post-sales service and support.
Chatbot Market Leaders
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IBM Corporation
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Creative Virtual Ltd
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Avaamo Inc.
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Egain Corporation
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Nuance Communications Inc (Microsoft Corp)
*Disclaimer: Major Players sorted in no particular order
