Indonesia Conversational Commerce Business Intelligence Report 2023: Market is Expected to Grow by 21.9% to Reach $13.1 Billion in 2023 - Forecasts to 2028
Conversational commerce industry in Indonesia is expected to grow by 21.9% on annual basis to reach US$13.1 billion in 2023.
DUBLIN, Jan. 8, 2024 /PRNewswire/ -- The "Indonesia 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.
Conversational commerce industry in Indonesia is expected to grow by 21.9% on annual basis to reach US$13.1 billion in 2023.
The conversational commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 19.0% during 2022-2028. The conversational commerce transaction value in the country will increase from US$13.1 billion in 2023 to reach US$31.2 billion by 2028.
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.
Conversational commerce, an approach to e-commerce, is rapidly gaining popularity in Indonesia. The country's increasing internet penetration and booming e-commerce industry make it a prime market for conversational commerce, and over the next five years, the publisher expects to see significant growth in this sector. This increased comfort with digital tools and services has also created a perfect growth environment for the conversational commerce market in Indonesia.
Consumers are increasingly turning to messaging platforms such as WhatsApp to interact with businesses, and companies are responding by investing in these technologies to improve their customer service and support. As a result, the publisher expects to see more businesses adopting conversational commerce solutions over the next five years, which will further drive growth in this Indonesian market. In addition to these factors, Indonesia's innovative startup ecosystem will also aid in the growth of the conversational commerce industry.
Indonesian consumers are more likely to purchase products from retailers who are responsive to chats
Over the last few years, the e-commerce industry has evolved significantly in the Indonesian market. From conventional online shopping channels to Conversational Commerce platforms and conversational commerce, a significant transformation is taking place in the market and this has coincided with changes in consumer behaviour.
According to a report from Facebook and BCG, 94% of the consumers in Indonesia stated that they are more likely to buy products and services from retailers and brands that are responsive to chat. This shows that retailers can drive their revenue and sales growth by incorporating conversational commerce tools into their sales funnel.
As the access to internet and smartphone continues to grow in the Indonesian market, the publisher expects more and more consumers to adopt conversational commerce channels to buy products and services. This will lead to more brands and retailers implementing conversational commerce capabilities into their business model, thereby aiding the growth of the sector from the short to medium-term perspective.
Startups are driving innovation and conversational commerce market growth in Indonesia
With the rise of messaging apps and chatbots, conversational commerce has become an essential part of the e-commerce landscape. As the market continues to grow in Indonesia, firms are seeking innovative solutions to meet the changing needs of customers.
Keyta, a conversational commerce startup, is driving innovation in this space, helping to shape the future of conversational commerce. Smartphones have become an integral part of consumers' daily lives, and they rely on them for various tasks, including communication. Consequently, the firm has developed an innovative solution that is built on smart keyboard technology.
The platform also offers support for invoice creation, transaction management, payment processing, and delivery fulfillment. Keytas can be integrated with different e-commerce platforms, allowing businesses to manage these activities seamlessly, regardless of the platform they use to serve their customers.
From the short to medium-term perspective, the publisher expects more such conversational commerce startups to launch innovative products and services into the Indonesian market. This will also drive the competitive landscape and industry growth over the next three to four years.
Scope
Indonesia Conversational Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
- Transaction Value
- Transaction Volume
- Average Value Per Transaction
Indonesia Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
- AI-Based Virtual Assistants
- Non-Intelligent Chatbot
Indonesia Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
- Chatbots
- Digital Voice Assistants
- OTT Messaging
- RCS Messaging
Indonesia Conversational Commerce Industry Market Size and Forecast by Chatbots
- Web-Based
- App-Based
Indonesia 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
Indonesia Conversational Commerce Industry Market Size and Forecast in Key Sectors by Product Offering
- Retail Shopping By Chatbots
- Travel & Hospitality By Chatbots
- Online Food Service By Chatbots
- Media and Entertainment By Chatbots
- Healthcare and Wellness By Chatbots
- Financial Services By Chatbots
- Technology Products and Services By Chatbots
- Other Sectors By Chatbots
- Retail Shopping By Digital Voice Assistants
- Travel & Hospitality By Digital Voice Assistants
- Online Food Service By Digital Voice Assistants
- Media and Entertainment By Digital Voice Assistants
- Healthcare and Wellness By Digital Voice Assistants
- Financial Services By Digital Voice Assistants
- Technology Products and Services By Digital Voice Assistants
- Other Sectors By Digital Voice Assistants
- Retail Shopping By OTT Messaging
- Travel & Hospitality By OTT Messaging
- Online Food Service By OTT Messaging
- Media and Entertainment By OTT Messaging
- Healthcare and Wellness By OTT Messaging
- Financial Services By OTT Messaging
- Technology Products and Services By OTT Messaging
- Other Sectors By OTT Messaging
- Retail Shopping By RCS Messaging
- Travel & Hospitality By RCS Messaging
- Online Food Service By RCS Messaging
- Media and Entertainment By RCS Messaging
- Healthcare and Wellness By RCS Messaging
- Financial Services By RCS Messaging
- Technology Products and Services By RCS Messaging
- Other Sectors By RCS Messaging
Indonesia Conversational Commerce Industry Market Size and Forecast by Organization Size
- Large Enterprise
- Medium-Sized Enterprise
- Small Enterprise
Indonesia Total Spend on Conversational Commerce Market
Indonesia Conversational Commerce Industry Market Size and Forecast by Spend on Application
- Software Application
- IT Services
- Consulting Services
Indonesia 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
For more information about this report visit https://www.researchandmarkets.com/r/px918k
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