Conversational AI Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	155 Pages	Fortune Business Insights Pvt. Ltd.	August, 2024	FOB19136291

Best Price Guarantee
Price	from $4,850
Length	155 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	August, 2024
SKU	FOB19136291

Conversational AI Market

Growth Factors of Conversational AI Market

The conversational AI market size was valued at USD 10.19 billion in 2023, and the market is now projected to grow from USD 12.24 billion in 2024 to USD 61.69 billion by 2032, exhibiting a CAGR of 24.4% during the forecast period of 2024-2032.

The COVID-19 pandemic had a combined effect on the market. Increased digital service call for and the shift to remote paintings undoubtedly influenced the want for facts processing and garage answers, riding boom in excessive-scale statistics facilities. However, the market additionally confronted demanding situations, consisting of disruptions in international deliver chains and constrained employee mobility, which slowed expansion.

The developing adoption of cloud-computing offerings by way of firms enhances usual IT spending because of multiplied garage and computing desires. The shift to remote work and the rise in digital collaboration and verbal exchange tools force call for cloud services, along with mission management gear, conversation answers, and digital laptop infrastructure. This fashion reflects the expanding reliance on cloud technologies in modern-day commercial enterprise operations.

Large-scale information centers are important for imparting the computing strength and garage capacity needed to handle vast amounts of statistics effectively. The surge in information from IoT gadgets, social media, on-line buying, and other resources has driven the want for superior garage solutions. This developing records volume necessitates innovative techniques to statistics processing and management.

Comprehensive Analysis of Conversational AI Market

The conversational AI market growth is rising at an exponential rate due to its market segmentation. This market expansion correctly offers a detailed nearby assessment considering the dominant supply and demand forces that impact the enterprise. These segmentations are methodically segregated by type analysis, by technology analysis, by deployment analysis, by business function analysis and by industry analysis. By type analysis includes Intelligent Virtual Assistant (IVA) and AI chatbots. By technique analysis includes machine learning (ML), deep learning, Natural Language Processing (NLP), Automatic Speech Recognition (ASR), and others. By deployment analysis includes on-premises and cloud. By business function analysis includes sales & marketing, operations & supply chain, finance and accounting, Human Resources (HR), and IT Service Management (ITSM). By industry analysis includes BFSI, IT and telecom, retail and e-commerce, education, healthcare, media & entertainment, automotive, and others.

The Asia Pacific region lead the conversational AI market share by benefitting a market size of USD 3.64 billion in 2023 due to increasing need for customer support services powered by AI.

The top players in the market play a crucial role in the technology industry assuring industrial prospectus growth and setting market standards. These players include, Google LLC, Microsoft Corporation, Amazon Web Services, Inc., IBM Corporation, Oracle Corporation, Cognigy, Amelia US LLC, Avaamo, Omilia Natural Language Solutions Ltd., Kore.ai Inc. these market players provide a level-playing competitive landscape.

In April 2024, AWS led by Amazon has released Amazon Q an application of generative AI that synchronizes with Amazon QuickSight to improve internal software development and uses the company’s data.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019–2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024–2032

Historical Period 2019–2022

Growth Rate CAGR of 22.4% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Component

Intelligent Virtual Assistant (IVA)
AI Chatbots

By Technology

Machine Learning (ML) and Deep Learning
Natural Language Processing (NLP)
Automatic Speech Recognition (ASR)
Others (Data Mining, etc.)

By Deployment

On-premises
Cloud

By Business Function

Sales & Marketing
Operations & Supply Chain
Finance and Accounting
Human Resources (HR)
IT Service Management (ITSM)

By Industry

BFSI
IT and Telecom
Retail and e-Commerce
Education
Healthcare
Media & Entertainment
Automotive
Others (Government, Travel & Hospitality)

By Region

North America (By Type, Technology, Deployment, Business Function, Industry, and Country)

- U.S.

- Canada

- Mexico

South America (By Type, Technology, Deployment, Business Function, Industry, and Country)

- Brazil

- Argentina

- Rest of South America

Europe (By Type, Technology, Deployment, Business Function, Industry, and Country)

- U.K.

- Germany

- France

- Italy

- Spain

- Russia

- Benelux

- Nordics

- Rest of Europe

Middle East & Africa (By Type, Technology, Deployment, Business Function, Industry, and Country)

- Turkey

- Israel

- GCC

- North Africa

- South Africa

- Rest of the Middle East & Africa

Asia Pacific (By Type, Technology, Deployment, Business Function, Industry, and Country)

- China

- India

- Japan

- South Korea

- ASEAN

- Oceania

- Rest of Asia Pacific

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1. Introduction: 1.1. Definition, By Segment; 1.2. Research Methodology/Approach; 1.3. Data Sources
2. Executive Summary
3. Market Dynamics: 3.1. Macro and Micro Economic Indicators; 3.2. Drivers, Restraints, Opportunities and Trends; 3.3. Impact of Generative AI
4. Competition Landscape: 4.1. Business Strategies Adopted by Key Players; 4.2. Consolidated SWOT Analysis of Key Players; 4.3. Global Conversational AI Key Players Market Share/Ranking, 2023
5. Global Conversational AI Market Size Estimates and Forecasts, By Segments, 2019-2032: 5.1. Key Findings; 5.2. By Component (USD); 5.2.1. Intelligent Virtual Assistant (IVA); 5.2.2. AI Chatbots; 5.3. By Technology (USD); 5.3.1. Machine Learning (ML) and Deep Learning; 5.3.2. Natural Language Processing (NLP); 5.3.3. Automatic Speech Recognition (ASR); 5.3.4. Others (Data Mining, etc.); 5.4. By Deployment (USD); 5.4.1. On-premises; 5.4.2. Cloud; 5.5. By Business Function (USD); 5.5.1. Sales & Marketing; 5.5.2. Operations & Supply Chain; 5.5.3. Finance and Accounting; 5.5.4. Human Resources (HR); 5.5.5. IT Service Management (ITSM); 5.6. By Industry (USD); 5.6.1. BFSI; 5.6.2. IT and Telecom; 5.6.3. Retail and eCommerce; 5.6.4. Education; 5.6.5. Healthcare; 5.6.6. Media & Entertainment; 5.6.7. Automotive; 5.6.8. Others (Government, Travel & Hospitality, etc.); 5.7. By Region (USD); 5.7.1. North America; 5.7.2. South America; 5.7.3. Europe; 5.7.4. Middle East & Africa; 5.7.5. Asia Pacific
6. North America Conversational AI Market Size Estimates and Forecasts, By Segments, 2019-2032: 6.1. Key Findings; 6.2. By Component (USD); 6.2.1. Intelligent Virtual Assistant (IVA); 6.2.2. AI Chatbots; 6.3. By Technology (USD); 6.3.1. Machine Learning (ML) and Deep Learning; 6.3.2. Natural Language Processing (NLP); 6.3.3. Automatic Speech Recognition (ASR); 6.3.4. Others; 6.4. By Deployment (USD); 6.4.1. On-premises; 6.4.2. Cloud; 6.5. By Business Function (USD); 6.5.1. Sales & Marketing; 6.5.2. Operations & Supply Chain; 6.5.3. Finance and Accounting; 6.5.4. Human Resources (HR); 6.5.5. IT Service Management (ITSM); 6.6. By Industry (USD); 6.6.1. BFSI; 6.6.2. IT and Telecom; 6.6.3. Retail and eCommerce; 6.6.4. Education; 6.6.5. Healthcare; 6.6.6. Media & Entertainment; 6.6.7. Automotive; 6.6.8. Others; 6.7. By Country (USD); 6.7.1. United States; 6.7.2. Canada; 6.7.3. Mexico
7. South America Conversational AI Market Size Estimates and Forecasts, By Segments, 2019-2032: 7.1. Key Findings; 7.2. By Component (USD); 7.2.1. Intelligent Virtual Assistant (IVA); 7.2.2. AI Chatbots; 7.3. By Technology (USD); 7.3.1. Machine Learning (ML) and Deep Learning; 7.3.2. Natural Language Processing (NLP); 7.3.3. Automatic Speech Recognition (ASR); 7.3.4. Others; 7.4. By Deployment (USD); 7.4.1. On-premises; 7.4.2. Cloud; 7.5. By Business Function (USD); 7.5.1. Sales & Marketing; 7.5.2. Operations & Supply Chain; 7.5.3. Finance and Accounting; 7.5.4. Human Resources (HR); 7.5.5. IT Service Management (ITSM); 7.6. By Industry (USD); 7.6.1. BFSI; 7.6.2. IT and Telecom; 7.6.3. Retail and eCommerce; 7.6.4. Education; 7.6.5. Healthcare; 7.6.6. Media & Entertainment; 7.6.7. Automotive; 7.6.8. Others; 7.7. By Country (USD); 7.7.1. Brazil; 7.7.2. Argentina; 7.7.3. Rest of South America
8. Europe Conversational AI Market Size Estimates and Forecasts, By Segments, 2019-2032: 8.1. Key Findings; 8.2. By Component (USD); 8.2.1. Intelligent Virtual Assistant (IVA); 8.2.2. AI Chatbots; 8.3. By Technology (USD); 8.3.1. Machine Learning (ML) and Deep Learning; 8.3.2. Natural Language Processing (NLP); 8.3.3. Automatic Speech Recognition (ASR); 8.3.4. Others; 8.4. By Deployment (USD); 8.4.1. On-premises; 8.4.2. Cloud; 8.5. By Business Function (USD); 8.5.1. Sales & Marketing; 8.5.2. Operations & Supply Chain; 8.5.3. Finance and Accounting; 8.5.4. Human Resources (HR); 8.5.5. IT Service Management (ITSM); 8.6. By Industry (USD); 8.6.1. BFSI; 8.6.2. IT and Telecom; 8.6.3. Retail and eCommerce; 8.6.4. Education; 8.6.5. Healthcare; 8.6.6. Media & Entertainment; 8.6.7. Automotive; 8.6.8. Others; 8.7. By Country (USD); 8.7.1. United Kingdom; 8.7.2. Germany; 8.7.3. France; 8.7.4. Italy; 8.7.5. Spain; 8.7.6. Russia; 8.7.7. Benelux; 8.7.8. Nordics; 8.7.9. Rest of Europe
9. Middle East & Africa Conversational AI Market Size Estimates and Forecasts, By Segments, 2019-2032: 9.1. Key Findings; 9.2. By Component (USD); 9.2.1. Intelligent Virtual Assistant (IVA); 9.2.2. AI Chatbots; 9.3. By Technology (USD); 9.3.1. Machine Learning (ML) and Deep Learning; 9.3.2. Natural Language Processing (NLP); 9.3.3. Automatic Speech Recognition (ASR); 9.3.4. Others; 9.4. By Deployment (USD); 9.4.1. On-premises; 9.4.2. Cloud; 9.5. By Business Function (USD); 9.5.1. Sales & Marketing; 9.5.2. Operations & Supply Chain; 9.5.3. Finance and Accounting; 9.5.4. Human Resources (HR); 9.5.5. IT Service Management (ITSM); 9.6. By Industry (USD); 9.6.1. BFSI; 9.6.2. IT and Telecom; 9.6.3. Retail and eCommerce; 9.6.4. Education; 9.6.5. Healthcare; 9.6.6. Media & Entertainment; 9.6.7. Automotive; 9.6.8. Others; 9.7. By Country (USD); 9.7.1. Turkey; 9.7.2. Israel; 9.7.3. GCC; 9.7.4. North Africa; 9.7.5. South Africa; 9.7.6. Rest of MEA
10. Asia Pacific Conversational AI Market Size Estimates and Forecasts, By Segments, 2019-2032: 10.1. Key Findings; 10.2. By Component (USD); 10.2.1. Intelligent Virtual Assistant (IVA); 10.2.2. AI Chatbots; 10.3. By Technology (USD); 10.3.1. Machine Learning (ML) and Deep Learning; 10.3.2. Natural Language Processing (NLP); 10.3.3. Automatic Speech Recognition (ASR); 10.3.4. Others; 10.4. By Deployment (USD); 10.4.1. On-premises; 10.4.2. Cloud; 10.5. By Business Function (USD); 10.5.1. Sales & Marketing; 10.5.2. Operations & Supply Chain; 10.5.3. Finance and Accounting; 10.5.4. Human Resources (HR); 10.5.5. IT Service Management (ITSM); 10.6. By Industry (USD); 10.6.1. BFSI; 10.6.2. IT and Telecom; 10.6.3. Retail and eCommerce; 10.6.4. Education; 10.6.5. Healthcare; 10.6.6. Media & Entertainment; 10.6.7. Automotive; 10.6.8. Others; 10.7. By Country (USD); 10.7.1. China; 10.7.2. India; 10.7.3. Japan; 10.7.4. South Korea; 10.7.5. ASEAN; 10.7.6. Oceania; 10.7.7. Rest of Asia Pacific
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases): 11.1. Google LLC; 11.1.1. Overview; 11.1.1.1. Key Management; 11.1.1.2. Headquarters; 11.1.1.3. Offerings/Business Segments; 11.1.2. Key Details (Key details are consolidated data and not product/service specific); 11.1.2.1. Employee Size; 11.1.2.2. Past and Current Revenue; 11.1.2.3. Geographical Share; 11.1.2.4. Business Segment Share; 11.1.2.5. Recent Developments; 11.2. Microsoft Corporation; 11.2.1. Overview; 11.2.1.1. Key Management; 11.2.1.2. Headquarters; 11.2.1.3. Offerings/Business Segments; 11.2.2. Key Details (Key details are consolidated data and not product/service specific); 11.2.2.1. Employee Size; 11.2.2.2. Past and Current Revenue; 11.2.2.3. Geographical Share; 11.2.2.4. Business Segment Share; 11.2.2.5. Recent Developments; 11.3. Amazon Web Services, Inc.; 11.3.1. Overview; 11.3.1.1. Key Management; 11.3.1.2. Headquarters; 11.3.1.3. Offerings/Business Segments; 11.3.2. Key Details (Key details are consolidated data and not product/service specific); 11.3.2.1. Employee Size; 11.3.2.2. Past and Current Revenue; 11.3.2.3. Geographical Share; 11.3.2.4. Business Segment Share; 11.3.2.5. Recent Developments; 11.3.2.6. Developments; 11.4. IBM Corporation; 11.4.1. Overview; 11.4.1.1. Key Management; 11.4.1.2. Headquarters; 11.4.1.3. Offerings/Business Segments; 11.4.2. Key Details (Key details are consolidated data and not product/service specific); 11.4.2.1. Employee Size; 11.4.2.2. Past and Current Revenue; 11.4.2.3. Geographical Share; 11.4.2.4. Business Segment Share; 11.4.2.5. Recent Developments; 11.5. Oracle Corporation; 11.5.1. Overview; 11.5.1.1. Key Management; 11.5.1.2. Headquarters; 11.5.1.3. Offerings/Business Segments; 11.5.2. Key Details (Key details are consolidated data and not product/service specific); 11.5.2.1. Employee Size; 11.5.2.2. Past and Current Revenue; 11.5.2.3. Geographical Share; 11.5.2.4. Business Segment Share; 11.5.2.5. Recent Developments; 11.6. Cognigy; 11.6.1. Overview; 11.6.1.1. Key Management; 11.6.1.2. Headquarters; 11.6.1.3. Offerings/Business Segments; 11.6.2. Key Details (Key details are consolidated data and not product/service specific); 11.6.2.1. Employee Size; 11.6.2.2. Past and Current Revenue; 11.6.2.3. Geographical Share; 11.6.2.4. Business Segment Share; 11.6.2.5. Recent Developments; 11.7. Amelia US LLC; 11.7.1. Overview; 11.7.1.1. Key Management; 11.7.1.2. Headquarters; 11.7.1.3. Offerings/Business Segments; 11.7.2. Key Details (Key details are consolidated data and not product/service specific); 11.7.2.1. Employee Size; 11.7.2.2. Past and Current Revenue; 11.7.2.3. Geographical Share; 11.7.2.4. Business Segment Share; 11.7.2.5. Recent Developments; 11.8. Avaamo; 11.8.1. Overview; 11.8.1.1. Key Management; 11.8.1.2. Headquarters; 11.8.1.3. Offerings/Business Segments; 11.8.2. Key Details (Key details are consolidated data and not product/service specific); 11.8.2.1. Employee Size; 11.8.2.2. Past and Current Revenue; 11.8.2.3. Geographical Share; 11.8.2.4. Business Segment Share; 11.8.2.5. Recent Developments; 11.9. Omilia Natural Language Solutions Ltd.; 11.9.1. Overview; 11.9.1.1. Key Management; 11.9.1.2. Headquarters; 11.9.1.3. Offerings/Business Segments; 11.9.2. Key Details (Key details are consolidated data and not product/service specific); 11.9.2.1. Employee Size; 11.9.2.2. Past and Current Revenue; 11.9.2.3. Geographical Share; 11.9.2.4. Business Segment Share; 11.9.2.5. Recent Developments; 11.10. Kore.ai Inc.; 11.10.1. Overview; 11.10.1.1. Key Management; 11.10.1.2. Headquarters; 11.10.1.3. Offerings/Business Segments; 11.10.2. Key Details (Key details are consolidated data and not product/service specific); 11.10.2.1. Employee Size; 11.10.2.2. Past and Current Revenue; 11.10.2.3. Geographical Share; 11.10.2.4. Business Segment Share; 11.10.2.5. Recent Developments
12. Key Takeaways