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Philippines Conversational Commerce Market Projected to Reach US$9.5 Billion by 2028 with Strong Growth in AI-Based Virtual Assistants Segment

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DUBLIN–(BUSINESS WIRE)–The “Philippines Conversational Commerce Market Intelligence and Future Growth Dynamics Databook – 75+ KPIs on Conversational Commerce Trends by End-Use Sectors, Operational KPIs, Product Offering, and Spend By Application – Q2 2023 Update” report has been added to ResearchAndMarkets.com’s offering.

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The conversational commerce landscape in the Philippines is undergoing a significant transformation, driven by advanced technological integrations and a shift in consumer behavior towards digital solutions. A recently added comprehensive databook on the Philippines’ conversational commerce industry offers critical market intelligence, showcasing a robust annual growth rate of 24.3%, with projections to hit a transaction value of US$3.7 billion in 2023.

This in-depth analysis covers over 75 Key Performance Indicators (KPIs) and delivers a granular understanding of conversational commerce trends across various end-use sectors. Stakeholders can leverage this data to gain insights into operational KPIs, product offerings, and specific application spends within the industry.

The report forecasts continued growth, with a Compound Annual Growth Rate (CAGR) of 20.8% from 2022 to 2028, culminating in an impressive transaction value of US$9.5 billion by 2028. It attributes this growth to advancements such as AI-based virtual assistants and multi-platform messaging capabilities which enhance user experiences.

Scope of the Databook:

  • Detailed market size and forecast across various conversational commerce KPIs
  • Segmentation of industry transaction value by virtual assistant type, including AI-Based Virtual Assistants and Non-Intelligent Chatbots
  • Breakdown of market size by virtual assistant application, with focus on Chatbots, Digital Voice Assistants, OTT Messaging, and RCS Messaging
  • Analysis of key sectors influenced by conversational commerce, including Retail, Travel & Hospitality, and Financial Services among others
  • Comprehensive review of conversational commerce spend by applications such as software, IT, and consulting services

Discover the full potential of the Philippines conversational commerce market through this detailed report, providing a crucial competitive edge to businesses and investors aiming to tap into emerging market opportunities within this dynamic industry.

The databook offers an extensive evaluation of market dynamics to help stakeholders develop market-specific strategies and identify growth segments within the region. Companies seeking to refine their business models and launch proactive strategies will find the insights particularly valuable as they navigate the evolving digital commerce space in the Philippines.

With a focus on delivering market intelligence that supports forward-looking analysis, the report is a must-have for those seeking to harness conversational commerce opportunities and develop a strong foothold in the Philippine market.

Key Attributes:

Report Attribute Details
No. of Pages 115
Forecast Period 2023 – 2028
Estimated Market Value (USD) in 2023 $3.69 Billion
Forecasted Market Value (USD) by 2028 $9.47 Billion
Compound Annual Growth Rate 20.7%
Regions Covered Philippines

For more information about this report visit https://www.researchandmarkets.com/r/h4cjf5

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