Global Conversational AI Market 2024-2028
The conversational AI market is forecasted to grow by USD 12759.8 mn during 2023-2028, accelerating at a CAGR of 23.04% during the forecast period. The report on the conversational AI market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growth in natural language processing (nlp), machine learning (ml), and AI technologies, increasing adoption of smartphones, and increasing demand for AI-powered customer support services.
Technavio's conversational AI market is segmented as below:
By Deployment
By Geographical Landscape
- North America
- Europe
- APAC
- Middle East and Africa
- South America
This study identifies the increasing need for customer engagement as one of the prime reasons driving the conversational AI market growth during the next few years. Also, rise in use of voice-based assistants and integration of advanced AI capabilities to add value to existing conversational AI offerings will lead to sizable demand in the market.
The report on the conversational AI market covers the following areas:
- Conversational AI market sizing
- Conversational AI market forecast
- Conversational AI market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading conversational AI market vendors that include Alphabet Inc., Amazon.com Inc., AmplifyReach India, Artificial Solutions International AB, Avaamo Inc., Baidu Inc., Cognigy GmbH, Conversica Inc., Creative Virtual Ltd., Fidelity National Information Services Inc., Gamut Analytics Pvt. Ltd., International Business Machines Corp., Jio Haptik Technologies Ltd., Kasisto Inc., Kore.AI Inc., Microsoft Corp., Oracle Corp., Rasa Technologies Inc., SAP SE, and SoundHound AI Inc.. Also, the conversational AI market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.