The latest research study “Live Chat Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group offers a comprehensive analysis of the industry, which comprises insights on the global live chat software industry.
Is the live chat software market good for investment or future trends?
The live chat software market is expected to exhibit a CAGR of 8.62% during 2022-2027.
What is the live chat software market?
Live chat software is an online service that provides instant customer support and information. It enables organizations to interact with website visitors in real-time and allows individuals to communicate with customer service representatives directly through a live chat window within the browser. It provides several benefits, such as quick responses, minimal wait time, proactive and omnichannel support, personalized customer experience, and chat archiving features. It also offers reporting and analytics to help companies capture leads and optimize customer support while improving customer loyalty and overall sales. As a result, live chat software is widely used by enterprises across various industries, including e-commerce, retail, healthcare, automotive, real estate, information technology (IT), travel and tourism, education, and banking, financial services and insurance (BFSI).
Impact of Covid-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What is the drivers of change in trends for the live chat software market:
The escalating demand for enhanced customer services represents the primary factor driving the market growth. Besides this, significant growth in the e-commerce sector due to the emerging trend of online shopping and rising internet penetration is another major growth-inducing factor. Additionally, there has been a substantial shift from offline distribution channels to online retail platforms due to the implementation of lockdowns amid the sudden outbreak of coronavirus disease (COVID-19). In line with this, the growing usage of e-commerce platforms for the sale and purchase of consumer goods has augmented the demand for live chat software to provide 24×7 customer support, handle queries, and resolve other issues.
Furthermore, several key players are launching advanced live chat software integrated with innovative features, such as co-browsing and screen sharing, mobile support, social media integration, and automated pop-up messages. Along with this, the increasing adoption of cloud-based live chat software by organizations to enhance customer relationship management (CRM) and improve user experience has catalyzed the market growth. Other factors, including the surging popularity of live chat, increasing usage of smartphones, rapid urbanization, rising number of small-medium enterprises (SMEs), and technological advancements, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 1,486 Million by 2027, expanding at a CAGR of 8.62% during the forecast period (2022-2027).
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Global Live Chat Software Market Report Scope |
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Report Coverage |
Details |
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Market size value in 2021 |
US$ 900 Million in 2021 |
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Market forecast in 2027 |
US$ 1,486 Million by 2027 |
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Growth Rate |
CAGR of 8.62% from 2022-2027 |
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Base year for estimation |
2021 |
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Historical data |
2016-2021 |
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Forecast period |
2022-2027 |
Global Live Chat Software Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Comm100 Network Corporation, Freshdesk Inc. (Freshworks Inc.), Kayako, LiveChat Inc., Liveperson Inc., Logmein Inc., Provide Support LLC, Pure Chat Inc., SnapEngage LLC and Zendesk Inc.
The report has segmented the market on the basis of region, type, deployment type and application.
Breakup by Type:
- Informational Live Chat Systems
- Customer Service Live Chat Systems
- Sales Live Chat Systems
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Application:
- BFSI
- IT and Consulting
- Retail and E-commerce
- Travel and Hospitality
- Telecommunication
- Healthcare
- Education
- Others
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
- If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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