By 2025, Chatbot Messaging App Accesses to Reach 9.5 Billion Globally
Today, chatbot messaging apps accessibility hovers around 3.5 billion globally in 2022. Businesses related to fintech and e-commerce are expected to drive the spike in app accessibility around the world.
Internet accessibility and a rise in sales volume of smartphones and mobile devices would result in an exponential growth in chatbot messaging app accessibility in the next 5 years. According to the latest report published by Juniper Research, the total number of chatbot messaging apps accessed globally will increase from 3.5 billion in 2022 to 9.5 billion by 2026. This is 169% growth from its current trends. A lion’s share of this growth will be driven by the increasing adoption of omnichannel retail strategies by e-commerce players, followed by fintech, healthcare, and online media. The rising integration of chatbots within messaging platforms is expected to drive the monetization strategies of apps. This would be visible across diverse segments, particularly in high-growth industries such as online retail, e-commerce, banking and finance, healthcare, and interactive gaming and content experiences.
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What is a Chatbot Messaging App?
A Chatbot messaging app is an AI-based automated digital conversation platform that leverages Natural Language Processing and Machine Intelligence to simulate a conversation in a text format. Advanced chatbot messaging apps are becoming conversant at simulating chats using audio, video, and GIFs too. The popularity of chatbots for messaging is gaining popularity on account of the massive demand for self-service customer experiences that can be delivered in real-time 24/7.
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Types of chatbots:
- Conversational chatbots
- Transactional chatbots
A majority of chatbot messaging apps are designed to perform simple automated tasks such as:
- answering FAQs and inquiries
- book and schedule for events
- product recommendations
- invenory management
- order tracking, payment refunds management, etc
- customer feedback management
- lead generation and sales acceleration
- employee communication
- IT security and analytics management
- Email automation, and so on.
How Retail Leads in Chatbot Messaging App Access?
The new research is titled “Chatbots: Sector Analysis, Competitor Leaderboard & Market Forecasts 2022-2026.”
The findings are based on data assessed from multiple chatbot channels, including Internet browsers, messaging apps and RCS messaging. It found that retail spend over chatbot messaging apps will account for over 50% of global chatbot retail spend by 2026. It predicts that the rapid development of messaging app functionalities will attract high value online retailers to chatbot messaging apps over competing channels.
Chatbot Integration Becomes Key
The research recommends that chatbot developers 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 capitalize on the growth of in-home smart speakers, such as Amazon Echo and Google Home. By implementing these voice capabilities, chatbot vendors can maximize value proposition by encouraging voice-led conversational commerce.
Biggest Questions Ahead of Chatbot Messaging App Marketers
As we head into the rest of the months in 2022, digital marketers should be able to justify the ROI from their chatbot investments and messaging integrations using AI, NLP and other Machine Learning applications.
The top questions are:
- What are the key factors driving growth in the chatbot messaging app market?
- What are the inhibiting factors that influence the adoption of chatbots and messaging apps?
- Which countries represent the biggest opportunities for chatbot development tool vendors?
- What is the total transaction value of deals happening on chatbot messaging apps around the world?
- How do newer capabilities in Marketing, Advertising, and Sales (Martech / Salestech/ AdTech) drive innovations in the mobile chatbot messaging app industry? and so on.
[To share your insights with us, please write to sghosh@martechseries.com]
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