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Chatbot Market Analysis By Application(Customer Service, Sales and Marketing), By Deployment mode(Cloud-based , On-premise), By Industry(Healthcare, Banking, Retail) & Forecast 2024-2035

  • PUBLISHED ON
  • 9/1/2022
  • NO OF PAGES
  • 260
  • CATEGORY
  • Information Technology

Market Overview:

The global chatbot market size was reached at USD 1.84 billion in 2022 and it is expected to reach around USD 4.9 billion by 2032 with a CAGR of 19.29% from 2023 to 2032. The Chatbot Market has experienced significant growth in recent years, driven by the increasing demand for chatbots in customer service and support. Chatbots are automated software programs that use natural language processing (NLP) and machine learning algorithms to simulate human conversation and provide quick and efficient customer support. One of the key drivers of the Chatbot Market is the growing need for businesses to provide 24/7 customer support. With the increasing popularity of e-commerce and online shopping, customers expect to be able to receive immediate support and assistance, regardless of the time of day. Chatbots enable businesses to provide round-the-clock support, without the need for additional staff or resources. Another driver of the Chatbot Market is the need for businesses to reduce operational costs. Chatbots are a cost-effective solution for providing customer support, as they can handle a large volume of inquiries and support requests without the need for human intervention. This can help businesses to reduce staffing costs, increase efficiency, and improve customer satisfaction. Moreover, chatbots can also provide personalized and targeted marketing and sales support. By leveraging data and analytics, chatbots can provide personalized recommendations and offers based on the customer's preferences and behavior, which can lead to increased sales and revenue for businesses.

The increasing demand for personalized and efficient customer service solutions is driving the growth of the chatbot market

The chatbot market has been growing rapidly in recent years, driven by a variety of factors. One of the main drivers is the increasing demand for personalized and efficient customer service solutions. With the rise of e-commerce and online services, businesses are faced with the challenge of providing quick and effective support to their customers across multiple channels. Chatbots, which are AI-powered programs designed to interact with humans through text or voice, provide a cost-effective and scalable solution to this problem. They can handle a wide range of customer inquiries and support requests, freeing up human agents to focus on more complex issues. In addition, chatbots can be programmed to provide personalized responses based on the customer's history and preferences, improving the overall customer experience. Another driver of the chatbot market is the increasing adoption of messaging platforms and social media. Chatbots can be integrated with these platforms, allowing businesses to reach their customers where they are already spending their time. This makes it easier for customers to engage with businesses and get the support they need, without having to switch between different channels.

Segmentation:

By Application:

·         Customer Service

·         Sales and Marketing

·         Others

By Deployment mode:

·         Cloud-based

·         On-premise

By Industry:

·         Healthcare

·         Banking

·         Retail

·         Others

Geography:

Currently, North America dominates the global chatbot market, followed by Europe and Asia-Pacific. The region's dominance can be attributed to the high adoption rate of advanced technologies and the presence of a large number of tech-savvy customers in the region. North America has been an early adopter of chatbot technology, with many businesses implementing chatbots to improve their customer service and engagement. The region has a large number of small and medium-sized businesses that are looking for cost-effective and efficient solutions to improve their operations. Additionally, the presence of leading technology companies such as Google, Microsoft, and IBM has further accelerated the growth of the chatbot market in the region. Europe is also a significant player in the global chatbot market, with many businesses in the region implementing chatbots to improve their customer service and support. The region has a large number of established businesses in various industries, including finance, healthcare, and retail, which are leveraging chatbot technology to improve their operations.

The Asia-Pacific chatbot market is a rapidly growing market, with a high adoption rate of mobile devices and a growing e-commerce industry in the region. The region is expected to have the highest growth rate in the chatbot market over the forecast period, driven by factors such as increasing investments in AI technology, rising demand for self-service customer support, and a large pool of tech-savvy customers. Countries such as China, India, Japan, Australia, and South Korea are the major markets for chatbot technology in the Asia-Pacific region. In China, for example, chatbots have become increasingly popular in industries such as finance, retail, and healthcare, with leading companies such as WeChat and Alibaba investing heavily in chatbot technology. India is also a significant market for chatbots, driven by factors such as a large population of internet users, the rapid growth of e-commerce, and a focus on digitization and automation. Companies such as Haptik and Yellow Messenger have gained traction in the Indian market by providing chatbot solutions for customer service and engagement.

Impact of COVID-19 on the global Chatbot Market:

The COVID-19 pandemic has had a significant impact on the chatbot market, accelerating its growth as businesses sought new and innovative ways to engage with customers during lockdowns and social distancing measures. With many businesses transitioning to remote work, chatbots became an essential tool for providing efficient and cost-effective customer service solutions. Additionally, the pandemic has increased the demand for contactless transactions, with chatbots being an effective solution for handling these transactions.

Impact of the Russia-Ukraine War on the global Chatbot Market:

As for the impact of the Russia-Ukraine war on the chatbot market, it is difficult to predict the exact impact as the situation is ongoing and unpredictable. However, the potential impact could be on the adoption of chatbots by businesses in the affected regions. The war could lead to economic instability, which could in turn affect the growth and investment in the chatbot market. Additionally, businesses in the affected regions may prioritize other areas of their operations in response to the crisis, leading to a potential slowdown in the adoption of chatbot technology. However, it's important to note that the impact of the war on the chatbot market will likely vary depending on the severity and duration of the conflict, as well as the specific industries and businesses affected.

Company Profiles:

·         IBM Watson

·         Google Cloud AI Platform

·         Microsoft Bot Framework

·         Amazon Lex

·         Oracle Digital Assistant

·         SAP Conversational AI

·         LivePerson

·         Nuance Communications

·         Haptik

·         Yellow Messenger

·         Rasa

·         Botpress

·         Tars

·         Ada

·         Kore.ai

Global Chatbot Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Chatbot market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Key Points:
Define, describe and forecast Chatbot product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
Base Year: 2023
Historic Year: 2016-2022
Forecast: 2024-2035


1 Chatbot Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of Chatbot
1.3 Chatbot Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of Chatbot
1.4.2 Applications of Chatbot
1.5 Market Exchange Rate

2 Research Method and Logic
2.1 Methodology
2.2 Research Data Source

3 Market Competition Analysis
3.1 Codebaby Market Performance Analysis
3.1.1 Codebaby Basic Information
3.1.2 Product and Service Analysis
3.1.3 Strategies for Company to Deal with the Impact of COVID-19
3.1.4 Codebaby Sales, Value, Price, Gross Margin 2016-2021
3.2 Artificial Solutions Market Performance Analysis
3.2.1 Artificial Solutions Basic Information
3.2.2 Product and Service Analysis
3.2.3 Strategies for Company to Deal with the Impact of COVID-19
3.2.4 Artificial Solutions Sales, Value, Price, Gross Margin 2016-2021
3.3 eGain Market Performance Analysis
3.3.1 eGain Basic Information
3.3.2 Product and Service Analysis
3.3.3 Strategies for Company to Deal with the Impact of COVID-19
3.3.4 eGain Sales, Value, Price, Gross Margin 2016-2021
3.4 Slack Technologies Market Performance Analysis
3.4.1 Slack Technologies Basic Information
3.4.2 Product and Service Analysis
3.4.3 Strategies for Company to Deal with the Impact of COVID-19
3.4.4 Slack Technologies Sales, Value, Price, Gross Margin 2016-2021
3.5 Baidu Market Performance Analysis
3.5.1 Baidu Basic Information
3.5.2 Product and Service Analysis
3.5.3 Strategies for Company to Deal with the Impact of COVID-19
3.5.4 Baidu Sales, Value, Price, Gross Margin 2016-2021
3.6 Apple Market Performance Analysis
3.6.1 Apple Basic Information
3.6.2 Product and Service Analysis
3.6.3 Strategies for Company to Deal with the Impact of COVID-19
3.6.4 Apple Sales, Value, Price, Gross Margin 2016-2021
3.7 Anboto Market Performance Analysis
3.7.1 Anboto Basic Information
3.7.2 Product and Service Analysis
3.7.3 Strategies for Company to Deal with the Impact of COVID-19
3.7.4 Anboto Sales, Value, Price, Gross Margin 2016-2021
3.8 Pandorabots Market Performance Analysis
3.8.1 Pandorabots Basic Information
3.8.2 Product and Service Analysis
3.8.3 Strategies for Company to Deal with the Impact of COVID-19
3.8.4 Pandorabots Sales, Value, Price, Gross Margin 2016-2021
3.9 Passagge AI Market Performance Analysis
3.9.1 Passagge AI Basic Information
3.9.2 Product and Service Analysis
3.9.3 Strategies for Company to Deal with the Impact of COVID-19
3.9.4 Passagge AI Sales, Value, Price, Gross Margin 2016-2021
3.10 IBM Watson Market Performance Analysis
3.10.1 IBM Watson Basic Information
3.10.2 Product and Service Analysis
3.10.3 Strategies for Company to Deal with the Impact of COVID-19
3.10.4 IBM Watson Sales, Value, Price, Gross Margin 2016-2021
3.11 LivePerson Market Performance Analysis
3.11.1 LivePerson Basic Information
3.11.2 Product and Service Analysis
3.11.3 Strategies for Company to Deal with the Impact of COVID-19
3.11.4 LivePerson Sales, Value, Price, Gross Margin 2016-2021
3.12 24/7 Customer Inc Market Performance Analysis
3.12.1 24/7 Customer Inc Basic Information
3.12.2 Product and Service Analysis
3.12.3 Strategies for Company to Deal with the Impact of COVID-19
3.12.4 24/7 Customer Inc Sales, Value, Price, Gross Margin 2016-2021
3.13 Nuance Communications Market Performance Analysis
3.13.1 Nuance Communications Basic Information
3.13.2 Product and Service Analysis
3.13.3 Strategies for Company to Deal with the Impact of COVID-19
3.13.4 Nuance Communications Sales, Value, Price, Gross Margin 2016-2021
3.14 ToyTalk Market Performance Analysis
3.14.1 ToyTalk Basic Information
3.14.2 Product and Service Analysis
3.14.3 Strategies for Company to Deal with the Impact of COVID-19
3.14.4 ToyTalk Sales, Value, Price, Gross Margin 2016-2021
3.15 WeChat Market Performance Analysis
3.15.1 WeChat Basic Information
3.15.2 Product and Service Analysis
3.15.3 Strategies for Company to Deal with the Impact of COVID-19
3.15.4 WeChat Sales, Value, Price, Gross Margin 2016-2021
3.16 ReplyYes Market Performance Analysis
3.16.1 ReplyYes Basic Information
3.16.2 Product and Service Analysis
3.16.3 Strategies for Company to Deal with the Impact of COVID-19
3.16.4 ReplyYes Sales, Value, Price, Gross Margin 2016-2021
3.17 Hubrum Technologies Market Performance Analysis
3.17.1 Hubrum Technologies Basic Information
3.17.2 Product and Service Analysis
3.17.3 Strategies for Company to Deal with the Impact of COVID-19
3.17.4 Hubrum Technologies Sales, Value, Price, Gross Margin 2016-2021
3.18 Google, Inc Market Performance Analysis
3.18.1 Google, Inc Basic Information
3.18.2 Product and Service Analysis
3.18.3 Strategies for Company to Deal with the Impact of COVID-19
3.18.4 Google, Inc Sales, Value, Price, Gross Margin 2016-2021
3.19 Creative Virtual Market Performance Analysis
3.19.1 Creative Virtual Basic Information
3.19.2 Product and Service Analysis
3.19.3 Strategies for Company to Deal with the Impact of COVID-19
3.19.4 Creative Virtual Sales, Value, Price, Gross Margin 2016-2021
3.20 Babylon Health Market Performance Analysis
3.20.1 Babylon Health Basic Information
3.20.2 Product and Service Analysis
3.20.3 Strategies for Company to Deal with the Impact of COVID-19
3.20.4 Babylon Health Sales, Value, Price, Gross Margin 2016-2021
3.21 Kore.ai Market Performance Analysis
3.21.1 Kore.ai Basic Information
3.21.2 Product and Service Analysis
3.21.3 Strategies for Company to Deal with the Impact of COVID-19
3.21.4 Kore.ai Sales, Value, Price, Gross Margin 2016-2021
3.22 Inbenta Technologies Market Performance Analysis
3.22.1 Inbenta Technologies Basic Information
3.22.2 Product and Service Analysis
3.22.3 Strategies for Company to Deal with the Impact of COVID-19
3.22.4 Inbenta Technologies Sales, Value, Price, Gross Margin 2016-2021
3.23 MoneyBrain Market Performance Analysis
3.23.1 MoneyBrain Basic Information
3.23.2 Product and Service Analysis
3.23.3 Strategies for Company to Deal with the Impact of COVID-19
3.23.4 MoneyBrain Sales, Value, Price, Gross Margin 2016-2021
3.24 Microsoft Corporation Market Performance Analysis
3.24.1 Microsoft Corporation Basic Information
3.24.2 Product and Service Analysis
3.24.3 Strategies for Company to Deal with the Impact of COVID-19
3.24.4 Microsoft Corporation Sales, Value, Price, Gross Margin 2016-2021

4 Market Segment by Type, Historical Data and Market Forecasts
4.1 Global Chatbot Production and Value by Type
4.1.1 Global Chatbot Production by Type 2016-2021
4.1.2 Global Chatbot Market Value by Type 2016-2021
4.2 Global Chatbot Market Production, Value and Growth Rate by Type 2016-2021
4.2.1 Solution Market Production, Value and Growth Rate
4.2.2 Service Market Production, Value and Growth Rate
4.3 Global Chatbot Production and Value Forecast by Type
4.3.1 Global Chatbot Production Forecast by Type 2021-2026
4.3.2 Global Chatbot Market Value Forecast by Type 2021-2026
4.4 Global Chatbot Market Production, Value and Growth Rate by Type Forecast 2021-2026
4.4.1 Solution Market Production, Value and Growth Rate Forecast
4.4.2 Service Market Production, Value and Growth Rate Forecast

5 Market Segment by Application, Historical Data and Market Forecasts
5.1 Global Chatbot Consumption and Value by Application
5.1.1 Global Chatbot Consumption by Application 2016-2021
5.1.2 Global Chatbot Market Value by Application 2016-2021
5.2 Global Chatbot Market Consumption, Value and Growth Rate by Application 2016-2021
5.2.1 BFSI Market Consumption, Value and Growth Rate
5.2.2 Healthcare Market Consumption, Value and Growth Rate
5.2.3 IT and Telecommunication Market Consumption, Value and Growth Rate
5.2.4 Retail Market Consumption, Value and Growth Rate
5.2.5 Utilities Market Consumption, Value and Growth Rate
5.2.6 Government Market Consumption, Value and Growth Rate
5.3 Global Chatbot Consumption and Value Forecast by Application
5.3.1 Global Chatbot Consumption Forecast by Application 2021-2026
5.3.2 Global Chatbot Market Value Forecast by Application 2021-2026
5.4 Global Chatbot Market Consumption, Value and Growth Rate by Application Forecast 2021-2026
5.4.1 BFSI Market Consumption, Value and Growth Rate Forecast
5.4.2 Healthcare Market Consumption, Value and Growth Rate Forecast
5.4.3 IT and Telecommunication Market Consumption, Value and Growth Rate Forecast
5.4.4 Retail Market Consumption, Value and Growth Rate Forecast
5.4.5 Utilities Market Consumption, Value and Growth Rate Forecast
5.4.6 Government Market Consumption, Value and Growth Rate Forecast

6 Global Chatbot by Region, Historical Data and Market Forecasts
6.1 Global Chatbot Sales by Region 2016-2021
6.2 Global Chatbot Market Value by Region 2016-2021
6.3 Global Chatbot Market Sales, Value and Growth Rate by Region 2016-2021
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 South America
6.3.5 Middle East and Africa
6.4 Global Chatbot Sales Forecast by Region 2021-2026
6.5 Global Chatbot Market Value Forecast by Region 2021-2026
6.6 Global Chatbot Market Sales, Value and Growth Rate Forecast by Region 2021-2026
6.6.1 North America
6.6.2 Europe
6.6.3 Asia Pacific
6.6.4 South America
6.6.5 Middle East and Africa

7 United State Market Size Analysis 2016-2026
7.1 United State Chatbot Value and Market Growth 2016-2021
7.2 United State Chatbot Sales and Market Growth 2016-2021
7.3 United State Chatbot Market Value Forecast 2021-2026

8 Canada Market Size Analysis 2016-2026
8.1 Canada Chatbot Value and Market Growth 2016-2021
8.2 Canada Chatbot Sales and Market Growth 2016-2021
8.3 Canada Chatbot Market Value Forecast 2021-2026

9 Germany Market Size Analysis 2016-2026
9.1 Germany Chatbot Value and Market Growth 2016-2021
9.2 Germany Chatbot Sales and Market Growth 2016-2021
9.3 Germany Chatbot Market Value Forecast 2021-2026

10 UK Market Size Analysis 2016-2026
10.1 UK Chatbot Value and Market Growth 2016-2021
10.2 UK Chatbot Sales and Market Growth 2016-2021
10.3 UK Chatbot Market Value Forecast 2021-2026

11 France Market Size Analysis 2016-2026
11.1 France Chatbot Value and Market Growth 2016-2021
11.2 France Chatbot Sales and Market Growth 2016-2021
11.3 France Chatbot Market Value Forecast 2021-2026

12 Italy Market Size Analysis 2016-2026
12.1 Italy Chatbot Value and Market Growth 2016-2021
12.2 Italy Chatbot Sales and Market Growth 2016-2021
12.3 Italy Chatbot Market Value Forecast 2021-2026

13 Spain Market Size Analysis 2016-2026
13.1 Spain Chatbot Value and Market Growth 2016-2021
13.2 Spain Chatbot Sales and Market Growth 2016-2021
13.3 Spain Chatbot Market Value Forecast 2021-2026

14 Russia Market Size Analysis 2016-2026
14.1 Russia Chatbot Value and Market Growth 2016-2021
14.2 Russia Chatbot Sales and Market Growth 2016-2021
14.3 Russia Chatbot Market Value Forecast 2021-2026

15 China Market Size Analysis 2016-2026
15.1 China Chatbot Value and Market Growth 2016-2021
15.2 China Chatbot Sales and Market Growth 2016-2021
15.3 China Chatbot Market Value Forecast 2021-2026

16 Japan Market Size Analysis 2016-2026
16.1 Japan Chatbot Value and Market Growth 2016-2021
16.2 Japan Chatbot Sales and Market Growth 2016-2021
16.3 Japan Chatbot Market Value Forecast 2021-2026

17 South Korea Market Size Analysis 2016-2026
17.1 South Korea Chatbot Value and Market Growth 2016-2021
17.2 South Korea Chatbot Sales and Market Growth 2016-2021
17.3 South Korea Chatbot Market Value Forecast 2021-2026

18 Australia Market Size Analysis 2016-2026
18.1 Australia Chatbot Value and Market Growth 2016-2021
18.2 Australia Chatbot Sales and Market Growth 2016-2021
18.3 Australia Chatbot Market Value Forecast 2021-2026

19 Thailand Market Size Analysis 2016-2026
19.1 Thailand Chatbot Value and Market Growth 2016-2021
19.2 Thailand Chatbot Sales and Market Growth 2016-2021
19.3 Thailand Chatbot Market Value Forecast 2021-2026

20 Brazil Market Size Analysis 2016-2026
20.1 Brazil Chatbot Value and Market Growth 2016-2021
20.2 Brazil Chatbot Sales and Market Growth 2016-2021
20.3 Brazil Chatbot Market Value Forecast 2021-2026

21 Argentina Market Size Analysis 2016-2026
21.1 Argentina Chatbot Value and Market Growth 2016-2021
21.2 Argentina Chatbot Sales and Market Growth 2016-2021
21.3 Argentina Chatbot Market Value Forecast 2021-2026

22 Chile Market Size Analysis 2016-2026
22.1 Chile Chatbot Value and Market Growth 2016-2021
22.2 Chile Chatbot Sales and Market Growth 2016-2021
22.3 Chile Chatbot Market Value Forecast 2021-2026

23 South Africa Market Size Analysis 2016-2026
23.1 South Africa Chatbot Value and Market Growth 2016-2021
23.2 South Africa Chatbot Sales and Market Growth 2016-2021
23.3 South Africa Chatbot Market Value Forecast 2021-2026

24 Egypt Market Size Analysis 2016-2026
24.1 Egypt Chatbot Value and Market Growth 2016-2021
24.2 Egypt Chatbot Sales and Market Growth 2016-2021
24.3 Egypt Chatbot Market Value Forecast 2021-2026

25 UAE Market Size Analysis 2016-2026
25.1 UAE Chatbot Value and Market Growth 2016-2021
25.2 UAE Chatbot Sales and Market Growth 2016-2021
25.3 UAE Chatbot Market Value Forecast 2021-2026

26 Saudi Arabia Market Size Analysis 2016-2026
26.1 Saudi Arabia Chatbot Value and Market Growth 2016-2021
26.2 Saudi Arabia Chatbot Sales and Market Growth 2016-2021
26.3 Saudi Arabia Chatbot Market Value Forecast 2021-2026

27 Market Dynamic Analysis and Development Suggestions
27.1 Market Drivers
27.2 Market Development Constraints
27.3 PEST Analysis
27.3.1 Political Factors
27.3.2 Economic Factors
27.3.3 Social Factors
27.3.4 Technological Factors
27.4 Industry Trends Under COVID-19
27.4.1 Risk Assessment on COVID-19
27.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
27.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
27.5 Market Entry Strategy Analysis
27.5.1 Market Definition
27.5.2 Client
27.5.3 Distribution Model
27.5.4 Product Messaging and Positioning
27.5.5 Price
27.6 Advice on Entering the Market

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.


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