Continuous growth in popularity of live chat, Increase in need to improve customer relationship management (CRM), and benefits of live chat software over conventional customer support boost the growth of the market.
The global live chat software market accounted for US$ 799.4 Million in 2018 and is estimated to be 1562.6 Million by 2030 and is anticipated to register a CAGR of 7.7%. The report. “Global Live Chat Software Market, By Product Type (Informational Live Chat Systems, Sales Live Chat Systems, and Customer Service Live Chat Systems), By End-user (Telecommunication and IT, Retail, BFSI, Travel and Hospitality, Manufacturing, Healthcare, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030”.
- On February 2018, LogMeIn, Inc. declared that it has entered into a definitive agreement to acquire Jive Communications, an innovative provider of cloud-based phone systems and Unified Communications services and one of the fastest growing players in the Unified Communications-as-a-Service (UCaaS) space. This deal will accelerate LogMeIn’s overall Unified Communications and Collaboration (UCC) strategy and strengthen LogMeIn’s popular collaboration portfolio, bringing together LogMeIn’s market-leading offerings like GoToWebinar, GoToMeeting, OpenVoice, and join.me with Jive’s innovative and award-winning UC products.
End users highly utilizes live chat software, which incorporates flawlessly with their existing e-commerce, help desk, and CRM systems. Additionally, these software offers various features such as preference settings for chat windows and reminders, archive, share discussions, and reporting tools has augmented its popularity among several industry verticals.
Several key players integrate their customer relationship management tool with live chat software to expand user experience for existing customers and potential leads. This tool helps customers to boost satisfaction and develop retention rates by saving organizations money and protecting its customer base.
Live chat software provides number of advantages such as increased average order value, improved website experience, and better understanding of customer needs over other customer support options drives the growth of the market.
Key Market Insights from the report:
The global live chat software market accounted for US$ 799.4 Million in 2018 and is estimated to be 1562.6 Million by 2030 and is anticipated to register a CAGR of 7.7%. The market report has been segmented on the basis of product type, end-user, and region.
- By product type, the global live chat software market is segmented into informational live chat systems, sales live chat systems, and customer service live chat systems.
- By end-user, the target market is segmented into telecommunication and IT, retail, BFSI, travel and hospitality, manufacturing, healthcare, and others.
- By region, North America led the global market in 2017, and is projected to continue its dominance over the forecast period, due to rise in demand for live chat software from number of industries to offer real time communication Moreover, Asia-Pacific is projected to rise at the highest CAGR in the coming years.
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The prominent player operating in the global live chat software market includes LogMeIn, Inc., Livechat, Inc., LivePerson, Inc., Freshdesk, Inc., Zendesk, SnapEngage, Kayako, Inc., Olark, Woopra, Inc., and Provide Support LLC.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
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