The world’s most lucrative AI business – Chatbots/Virtual Digital Assistants will remain a market served by a robust, diverse ecosystem of vendors. In a new report, Omdia suggests that contrary to a wide range of vendor assessments and traditional technology market trends, Chatbot/VDA solutions will not be dominated by a small number of big-name vendors.
“There are several reasons for a robust chatbot solutions market,” said Mark Beccue, Principal Analyst, Omdia, “One, there is persistent market demand for solutions which address a broad spectrum of complexity, from pro developer Do It Yourself (DIY) tools and no code SaaS to bespoke end to end solutions; two, it’s likely there will be new market disruptors because of evolving technology, particularly the potential emergence of affordable NLU and training from open-source Large Language Models (LLM), and three ,the total addressable market is very large and very complex, led by broad market drivers for CX and workflow automation. The market opportunity is nowhere near saturated or commoditized, leaving the door open for a variety of vendors to succeed and prosper.”
