Live Chat Software Market - Forecast(2024 - 2030)

Report Code: ITR 51162 Report Format: PDF + Excel
Live Chat Software Market is forecast to reach $1.15 billion by 2025, after growing at a CAGR of 7.31% during 2019-2025. Increasing initiatives to improve customer relationship management (CRM) is predicted to significantly boost the Live Chat Software market growth during the forecast period 2019-2025. Moreover, increased adoption of live chat software by the retail sector is further anticipated to favor the growth of Live Chat Software market. Organizations are deploying webchat software to aid them in staffing the chant channels correctly, providing service improvements by analyzing the requirements of chat agents and customers and many other applications. 
 
Key Takeaways
  • APAC dominates the Live Chat Software Market attributed to the technological advancements and increased spending in consumer sector in this region.
  • Retail segment held the largest market share in 2019 among all the applications due to the large scale adoption by companies in this sector to handle customer queries.
  • Number of benefits offered by live chat software such as enhanced website experience, increased average order value, and a better understanding of customer needs are projected to propel market growth.
  • Furthermore, rise in demand for web or mobile self-services is hampering the market growth to a certain extent.
Type of Product - Segment Analysis

The Live Chat Software market split by type of product was dominated by customer service live chat system and this segment held the largest share in the Live Chat Software Market in 2018. Growth of this technology is accredited to rising demand to improve website experience and better understanding of customer needs. In addition, the ongoing growth in the need to enhance customer relationship management (CRM) and the advantages of live chat apps over traditional customer support provides advertisers with tremendous potential for targeting their consumers and improving user experience. This is projected to elevate the live chat software market growth during the forecast period 2020 – 2025.

End User - Segment Analysis

The live chat software market is segmented by end user into IT & telecommunication, retail, BFSI, travel hospitality, manufacturing and healthcare. Among, these retail segment is witnessed a significant growth rate of around 11.4% due to their wide scale deployment by companies to improve customer interaction and for better handling of queries. In addition, live chat software has also played a prominent role due to its benefits including enhanced user usability, increased average order value, lead generation, increased sales and a better understanding of customer needs, allowing companies to perform up to ten times better on key performance metrics through recognizing customer requirements in retail vertical. Moreover, live chat software is gaining popularity in the retail sector as certain group of consumers prefer live chat for online shopping rather than the conventional customer support, thereby providing a boost to the market within the aforementioned period of study.

Geography - Segment Analysis

Asia - Pacific region has dominated the Live Chat Software Market in 2019 with a share of more than 67% followed by North America. In the wake of technological advancements, consumers in APAC are embracing self – service and chatbots and thereby are adopting live chat over the traditional methods for asking queries during online shopping. According to the Asian Development Bank by 2030 Asia will make up 43% of global consumer spending (US$32.9 trillion). With customer experience a central factor in which brands Asian consumers choose, organizations need to ensure that they are meeting expectations now if they want to thrive and grow moving forward, subsequently boosting the live chat market growth in this region.

Drivers – Live Chat Software Market
  • Increase in Need to Improve Customer Relationship Management in Each Vertical
Many companies integrate their customer relationship management tool with live chat software to improve the user experience and potential leads for existing customers. By saving organizations money and protecting their customer base, this tool helps them boost satisfaction and improve retention rates.
  • Number of Advantages of Live Chat Software Over Conventional Customer Support
Number of advantages provided by live chat software such as improved website experience, increased average order value, and better understanding of customer needs over other customer support options propel the growth of the market. Companies majorly use live chat software, which integrates seamlessly with their existing e-commerce, help desk, and CRM systems. Also, the ability of these software to provide useful features such as preference settings for chat windows and reminders, share discussions, archive, and reporting tools has increased its popularity among many industry verticals.

Challenges – Live Chat Software Market
  • Lack of Standardization
One of the major challenges faced by Live Chat Software Market is the lack of standardization. Furthermore, rise in demand for web or mobile self-services is hampering the market growth to a certain extent. Also, the live chat software needs to be assimilated with various systems to avoid glitching.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Live Chat Software market. In 2019, the market of Live Chat Software has been consolidated by the top five players accounting for 60% of the share. Major players in the Live Chat Software Market are LogMeIn, Inc., LivePerson, Inc., Zendesk, SnapEngage, Livechat, Inc., Olark, Kayako, Inc., Freshdesk, Inc., Woopra, Inc., and Provide Support LLC among others. 

Collaborations and Investments/Product Launches
  • In November 2019, Sprinkler launched the Sprinklr Live Chat, a customer service capability that helps businesses provide immediate support to visitors on their website and mobile applications.
  • In February 2020, SnapEngage released live chat software for customer service teams. SnapEngage's new chat software is designed to increase customer satisfaction and retain more customers with custom workflows that ensure opportunities don't fall through the cracks
  • In February 2020, Gubagoo announced a strategic collaboration with letgo. This integration allows automotive dealerships to use Gubagoo to automatically post vehicle inventory to letgo’s marketplace. Gubagoo’s professional chat specialists will respond 24/7/365 to shoppers’ inquiries through live chat and deliver high quality leads into the dealer’s CRM system.
1. Live Chat Software Market - Overview
        1.1 Definitions and Scope
2. Live Chat Software Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Live Chat Software Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Live Chat Software Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Live Chat Software Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Live Chat Software Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Live Chat Software Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Live Chat Software Market - By Product Type (Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
            8.3.1 Informational Live Chat System
            8.3.2 Sale Live Chat System
            8.3.3 Customer Service Live Chat System
9. Live Chat Software Market - By End User (Market Size -$Million / $Billion)
        9.1 Telecommunication It
        9.2 Retail
        9.3 Bfsi
        9.4 Travel Hospitality
        9.5 Manufacturing
        9.6 Healthcare
10. Live Chat Software - By Application (Market Size -$Million / $Billion)
11. Live Chat Software- By Geography (Market Size -$Million / $Billion)
        11.1 Live Chat Software Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Live Chat Software- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Live Chat Software- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Live Chat Software - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Live Chat Software - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Live Chat Software Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Live Chat Software Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Live Chat Software Market - Key Company List by Country Premium
15. Live Chat Software Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Freshdesk, Inc
        15.3 Kayako, Inc
        15.4 Livechat, Inc
        15.5 Liveperson, Inc
        15.6 Logmein, Inc
        15.7 Olark
        15.8 Provide Support Llc
        15.9 Snapengage
        15.10 Woopra, Inc
        15.11 Zendesk
        15.12 Company 11
        15.13 Company 12 & More
*Financials would be provided on a best efforts basis for private companies
16. Live Chat Software Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Live Chat Software Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Live Chat Software Market, By Product Type Market 2023-2030 ($M)
1.1 Informational Live Chat System Market 2023-2030 ($M) - Global Industry Research
1.1.1 Key Growth Factor And Opportunity Market 2023-2030 ($M)
1.2 Sale Live Chat System Market 2023-2030 ($M) - Global Industry Research
1.3 Customer Service Live Chat System Market 2023-2030 ($M) - Global Industry Research
2.Global Live Chat Software Market, By End User Market 2023-2030 ($M)
2.1 Telecommunication It Market 2023-2030 ($M) - Global Industry Research
2.2 Retail Market 2023-2030 ($M) - Global Industry Research
2.3 Bfsi Market 2023-2030 ($M) - Global Industry Research
2.4 Travel Hospitality Market 2023-2030 ($M) - Global Industry Research
2.5 Manufacturing Market 2023-2030 ($M) - Global Industry Research
2.6 Healthcare Market 2023-2030 ($M) - Global Industry Research
3.Global Live Chat Software Market, By Product Type Market 2023-2030 (Volume/Units)
3.1 Informational Live Chat System Market 2023-2030 (Volume/Units) - Global Industry Research
3.1.1 Key Growth Factor And Opportunity Market 2023-2030 (Volume/Units)
3.2 Sale Live Chat System Market 2023-2030 (Volume/Units) - Global Industry Research
3.3 Customer Service Live Chat System Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global Live Chat Software Market, By End User Market 2023-2030 (Volume/Units)
4.1 Telecommunication It Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Retail Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Bfsi Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Travel Hospitality Market 2023-2030 (Volume/Units) - Global Industry Research
4.5 Manufacturing Market 2023-2030 (Volume/Units) - Global Industry Research
4.6 Healthcare Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Live Chat Software Market, By Product Type Market 2023-2030 ($M)
5.1 Informational Live Chat System Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Key Growth Factor And Opportunity Market 2023-2030 ($M)
5.2 Sale Live Chat System Market 2023-2030 ($M) - Regional Industry Research
5.3 Customer Service Live Chat System Market 2023-2030 ($M) - Regional Industry Research
6.North America Live Chat Software Market, By End User Market 2023-2030 ($M)
6.1 Telecommunication It Market 2023-2030 ($M) - Regional Industry Research
6.2 Retail Market 2023-2030 ($M) - Regional Industry Research
6.3 Bfsi Market 2023-2030 ($M) - Regional Industry Research
6.4 Travel Hospitality Market 2023-2030 ($M) - Regional Industry Research
6.5 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
6.6 Healthcare Market 2023-2030 ($M) - Regional Industry Research
7.South America Live Chat Software Market, By Product Type Market 2023-2030 ($M)
7.1 Informational Live Chat System Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Key Growth Factor And Opportunity Market 2023-2030 ($M)
7.2 Sale Live Chat System Market 2023-2030 ($M) - Regional Industry Research
7.3 Customer Service Live Chat System Market 2023-2030 ($M) - Regional Industry Research
8.South America Live Chat Software Market, By End User Market 2023-2030 ($M)
8.1 Telecommunication It Market 2023-2030 ($M) - Regional Industry Research
8.2 Retail Market 2023-2030 ($M) - Regional Industry Research
8.3 Bfsi Market 2023-2030 ($M) - Regional Industry Research
8.4 Travel Hospitality Market 2023-2030 ($M) - Regional Industry Research
8.5 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
8.6 Healthcare Market 2023-2030 ($M) - Regional Industry Research
9.Europe Live Chat Software Market, By Product Type Market 2023-2030 ($M)
9.1 Informational Live Chat System Market 2023-2030 ($M) - Regional Industry Research
9.1.1 Key Growth Factor And Opportunity Market 2023-2030 ($M)
9.2 Sale Live Chat System Market 2023-2030 ($M) - Regional Industry Research
9.3 Customer Service Live Chat System Market 2023-2030 ($M) - Regional Industry Research
10.Europe Live Chat Software Market, By End User Market 2023-2030 ($M)
10.1 Telecommunication It Market 2023-2030 ($M) - Regional Industry Research
10.2 Retail Market 2023-2030 ($M) - Regional Industry Research
10.3 Bfsi Market 2023-2030 ($M) - Regional Industry Research
10.4 Travel Hospitality Market 2023-2030 ($M) - Regional Industry Research
10.5 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
10.6 Healthcare Market 2023-2030 ($M) - Regional Industry Research
11.APAC Live Chat Software Market, By Product Type Market 2023-2030 ($M)
11.1 Informational Live Chat System Market 2023-2030 ($M) - Regional Industry Research
11.1.1 Key Growth Factor And Opportunity Market 2023-2030 ($M)
11.2 Sale Live Chat System Market 2023-2030 ($M) - Regional Industry Research
11.3 Customer Service Live Chat System Market 2023-2030 ($M) - Regional Industry Research
12.APAC Live Chat Software Market, By End User Market 2023-2030 ($M)
12.1 Telecommunication It Market 2023-2030 ($M) - Regional Industry Research
12.2 Retail Market 2023-2030 ($M) - Regional Industry Research
12.3 Bfsi Market 2023-2030 ($M) - Regional Industry Research
12.4 Travel Hospitality Market 2023-2030 ($M) - Regional Industry Research
12.5 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
12.6 Healthcare Market 2023-2030 ($M) - Regional Industry Research
13.MENA Live Chat Software Market, By Product Type Market 2023-2030 ($M)
13.1 Informational Live Chat System Market 2023-2030 ($M) - Regional Industry Research
13.1.1 Key Growth Factor And Opportunity Market 2023-2030 ($M)
13.2 Sale Live Chat System Market 2023-2030 ($M) - Regional Industry Research
13.3 Customer Service Live Chat System Market 2023-2030 ($M) - Regional Industry Research
14.MENA Live Chat Software Market, By End User Market 2023-2030 ($M)
14.1 Telecommunication It Market 2023-2030 ($M) - Regional Industry Research
14.2 Retail Market 2023-2030 ($M) - Regional Industry Research
14.3 Bfsi Market 2023-2030 ($M) - Regional Industry Research
14.4 Travel Hospitality Market 2023-2030 ($M) - Regional Industry Research
14.5 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
14.6 Healthcare Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Live Chat Software Market Revenue, 2023-2030 ($M)
2.Canada Live Chat Software Market Revenue, 2023-2030 ($M)
3.Mexico Live Chat Software Market Revenue, 2023-2030 ($M)
4.Brazil Live Chat Software Market Revenue, 2023-2030 ($M)
5.Argentina Live Chat Software Market Revenue, 2023-2030 ($M)
6.Peru Live Chat Software Market Revenue, 2023-2030 ($M)
7.Colombia Live Chat Software Market Revenue, 2023-2030 ($M)
8.Chile Live Chat Software Market Revenue, 2023-2030 ($M)
9.Rest of South America Live Chat Software Market Revenue, 2023-2030 ($M)
10.UK Live Chat Software Market Revenue, 2023-2030 ($M)
11.Germany Live Chat Software Market Revenue, 2023-2030 ($M)
12.France Live Chat Software Market Revenue, 2023-2030 ($M)
13.Italy Live Chat Software Market Revenue, 2023-2030 ($M)
14.Spain Live Chat Software Market Revenue, 2023-2030 ($M)
15.Rest of Europe Live Chat Software Market Revenue, 2023-2030 ($M)
16.China Live Chat Software Market Revenue, 2023-2030 ($M)
17.India Live Chat Software Market Revenue, 2023-2030 ($M)
18.Japan Live Chat Software Market Revenue, 2023-2030 ($M)
19.South Korea Live Chat Software Market Revenue, 2023-2030 ($M)
20.South Africa Live Chat Software Market Revenue, 2023-2030 ($M)
21.North America Live Chat Software By Application
22.South America Live Chat Software By Application
23.Europe Live Chat Software By Application
24.APAC Live Chat Software By Application
25.MENA Live Chat Software By Application
26.Freshdesk, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Kayako, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Livechat, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Liveperson, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Logmein, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Olark, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Provide Support Llc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Snapengage, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Woopra, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Zendesk, Sales /Revenue, 2015-2018 ($Mn/$Bn)