Europe Conversational Commerce Market Intelligence and Future Growth Dynamics Databook 2023: 75+ KPIs on End-Use Sectors, Operational KPIs, Product Offering, and Spend By Application 2019-2028 - ResearchAndMarkets.com

The "Europe 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 - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.

The conversational commerce industry in Europe is expected to grow by 27.8% on annual basis to reach US$230.0 billion in 2023.

The conversational commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 22.5% during 2022-2028. The conversational commerce transaction value in the region will increase from US$230.0 billion in 2023 to reach US$635.2 billion by 2028.

To improve customer relationships, engagement, and experience, retailers in Europe are seeking to leverage conversational commerce tools such as WhatsApp. This, coupled with the high internet and smartphone penetration rate in the region, is projected to aid the growth of the conversational commerce industry in Europe from the short to medium-term perspective.

In Europe, innovative startups are also entering the conversational commerce space to capitalize on the high-growth sector. Furthermore, global giants such as TikTok are also planning to expand their presence in the conversational commerce industry in Europe. All of these factors will keep driving the competitive landscape and innovation in the market over the next three to four years.

Retailers are forging alliances with WhatsApp to optimize the shopping experience of French consumers

To reach more customers and enhance their shopping experience and brand engagement, retailers have turned to WhatsApp to leverage conversational commerce capabilities in France.

In December 2022, Carrefour, one of the leading retailers in Europe, announced that the firm had entered into a strategic collaboration with WhatsApp, enabling consumers to order gifts through the messaging app during Christmas.

The pilot project, launched between December 5 to December 21, allowed customers to purchase products across different non-food categories, such as gaming, household appliances, toys, and high-tech. The collaboration with WhatsApp is part of the firm's strategy to boost customer engagement and provide them with innovative shopping experiences.

From the short to medium-term perspective, the publisher expects Carrefour to launch more such initiatives in France and in other markets where it is operating.

Furthermore, the publisher also expects more retailers to forge alliances with WhatsApp, as conversational commerce continues to grow in popularity among customers in Europe. This will keep aiding the growth of the market from the short to medium-term perspective.

Venture capital and private equity funding are expected to grow in the European conversational commerce market

As the market continues to grow, innovative startups are expected to raise multi-million-dollar deals from venture capital and private equity firms over the next three to four years in the European market. In 2022, startups have already gained widespread traction from venture capital and private equity players. For instance,

In July 2022, Charles, the conversational commerce-focused German startup, announced that the firm had raised US$20 million in its Series A round, which was led by Salesforce Ventures. HV Capital and Accel, who led the seed funding round in 2021, also participated in the Series A round. The 2022 funding round makes Charles one of the leading players in the conversational commerce space.

The firm is planning to use the capital to further expand its presence in the European conversational commerce industry. The firm, which enables brands and businesses to sell products and send newsletters via chat, is targeting a higher and larger enterprise client base in Europe in 2023. While Charles has gained widespread traction in its domestic firm, it also gaining a strong foothold in other European countries such as Italy, Spain, France, and the United Kingdom.

With its intention to bring conversational commerce to WhatsApp across Europe, the publisher expects Charles to keep aiding the growth of the market from the short to medium-term perspective. Furthermore, higher capital investment from venture capitalists and private equity firms will also aid the competitive landscape and industry growth over the next three to four years.

This report provides a detailed data centric analysis of conversational commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of conversational commerce market dynamics, market size and forecast, and market share statistics.

The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.

A Bundled Offering: 16 Reports - 1 Regional and 15 Country Reports

• Europe Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Austria Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Belgium Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Denmark Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Finland Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• France Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Germany Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Greece Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Ireland Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Italy Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Netherlands Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Poland Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Russia Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Spain Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• Switzerland Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)
• United Kingdom Conversational Commerce Market Intelligence and Future Growth Dynamics (Databook)

Scope for Each Report

Conversational Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators

• Transaction Value
• Transaction Volume
• Average Value Per Transaction

Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type

• AI-Based Virtual Assistants
• Non-Intelligent Chatbot

Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type

• Chatbots
• Digital Voice Assistants
• OTT Messaging
• RCS Messaging

Conversational Commerce Industry Market Size and Forecast by Chatbots

• Web-Based
• App-Based

Conversational Commerce Industry Market Size and Forecast by Key Sectors

• Retail Shopping
• Travel & Hospitality
• Online Food Service
• Media and Entertainment
• Healthcare and Wellness
• Financial Services
• Technology Products and Services
• Other Sectors

Conversational Commerce Industry Market Size and Forecast in Key Sectors by Product Offering

• Retail Shopping Market By Chatbots
• Travel & Hospitality Market By Chatbots
• Online Food Service Market By Chatbots
• Media and Entertainment Market By Chatbots
• Healthcare and Wellness Market By Chatbots
• Financial Services Market By Chatbots
• Technology Products and Services Market By Chatbots
• Other Sectors Market By Chatbots
• Retail Shopping Market By Digital Voice Assistants
• Travel & Hospitality Market By Digital Voice Assistants
• Online Food Service Market By Digital Voice Assistants
• Media and Entertainment Market By Digital Voice Assistants
• Healthcare and Wellness Market By Digital Voice Assistants
• Financial Services Market By Digital Voice Assistants
• Technology Products and Services Market By Digital Voice Assistants
• Other Sectors Market By Digital Voice Assistants
• Retail Shopping Market By OTT Messaging
• Travel & Hospitality Market By OTT Messaging
• Online Food Service Market By OTT Messaging
• Media and Entertainment Market By OTT Messaging
• Healthcare and Wellness Market By OTT Messaging
• Financial Services Market By OTT Messaging
• Technology Products and Services Market By OTT Messaging
• Other Sectors Market By OTT Messaging
• Retail Shopping Market By RCS Messaging
• Travel & Hospitality Market By RCS Messaging
• Online Food Service Market By RCS Messaging
• Media and Entertainment Market By RCS Messaging
• Healthcare and Wellness Market By RCS Messaging
• Financial Services Market By RCS Messaging
• Technology Products and Services Market By RCS Messaging
• Other Sectors Market By RCS Messaging

Conversational Commerce Industry Market Size and Forecast by Organization Size

• Large Enterprise
• Medium-Sized Enterprise
• Small Enterprise

Total Spend on Conversational Commerce Market

Conversational Commerce Industry Market Size and Forecast by Spend on Application

• Software Application
• IT Services
• Consulting Services

Conversational Commerce Spend on Key Sectors

• Retail Shopping
• Travel & Hospitality
• Online Food Service
• Media and Entertainment
• Healthcare and Wellness
• Financial Services
• Technology Products and Services
• Other Sectors

Reasons to buy

• In-depth Understanding of Conversational Commerce Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028).
• Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
• Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate conversational commerce strategy; assess market specific key trends, drivers, and risks in the industry.

For more information about this report visit https://www.researchandmarkets.com/r/gsmq7x

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230530005408/en/