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Live Chat Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
Report Format: PDF+Excel | Report ID: SR112023A2512
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Market Overview:
The global live chat software market size reached US$ 900 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,486 Million by 2027, exhibiting a CAGR of 8.62% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Live chat software is utilized by organizations and online ventures for providing immediate customer support and information in real-time. It offers quick responses, personalized customer experience, and proactive and omnichannel support, which significantly boosts sales and customer loyalty. It also provides useful data points and measurable metrics that assist the firm in optimizing customer support and capturing leads. Consequently, it finds extensive application in the healthcare, automotive, aerospace, real estate, information technology (IT) and telecommunication, travel and tourism, education and training, and banking, financial services and insurance (BFSI) industries across the globe.
Due to the sudden outbreak of the coronavirus disease (COVID-19), governments of various countries have imposed complete lockdowns. Consequently, businesses that sell their products through offline distribution channels have been closed temporarily. This, in turn, has increased the sales of food items and different products on e-commerce channels and escalated the demand for live chat software to provide 24X7 customer support and resolve their queries and issues. Other than this, on account of rapid urbanization, various small-medium enterprises (SMEs) are deploying cloud-based live chat software to provide enhanced user experience and expand their market reach. Furthermore, leading players are offering additional features, such as co-browsing and screen-sharing, social media integration, automated pop-up messages and mobile support, which is increasing the adoption of live chat software across various industries and improving their customer relationship management (CRM).
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global live chat software market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on 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
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 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.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Million |
| Segment Coverage | Type, Deployment Type, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | 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. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global live chat software market was valued at US$ 900 Million in 2021.
We expect the global live chat software market to exhibit a CAGR of 8.62% during 2022-2027.
The rising adoption of cloud-based live chat software among numerous organizations to enhance Customer Relationship Management (CRM) and improve user experience is primarily driving the global live chat software market.
The sudden outbreak of the COVID-19 pandemic has led to the growing consumer inclination towards online retail platforms for the purchase of numerous products resulting in the increasing demand for live chat software, to provide 24x7 customer support, handle queries, and resolve other issues.
Based on the type, the global live chat software market can be segmented into informational live chat systems, customer service live chat systems, and sales live chat systems. Currently, customer service live chat systems hold the majority of the total market share.
Based on the deployment type, the global live chat software market has been divided into cloud-based and on-premises, where cloud-based deployment currently exhibits a clear dominance in the market.
Based on the application, the global live chat software market can be categorized into BFSI, IT and consulting, retail and e-commerce, travel and hospitality, telecommunication, healthcare, education, and others. Among these, the retail and e-commerce sector accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global live chat software market include 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.
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