Conversational AI Market Report Overview

The report encompasses the latest revenue and trends within the Conversational AI market. It provides an introduction to the Conversational AI market, defining its scope, structure, and strategies for proactive and pre-planned management. The report hones in on the factors that impact the Conversational AI Market in both positive and negative ways. Additionally, it assists in gauging the prospective growth of the Conversational AI Market in the upcoming forecast years. The report serves as a valuable tool for shaping market strategies and understanding the contextual landscape of the Conversational AI industry.

Conversational AI Market size was valued at USD 8.74 Bn. in 2022 and the total Conversational AI revenue is expected to grow by 21.5% from 2023 to 2029, reaching nearly USD 34.19 Bn.

Conversational AI Market Report Scope and Research Methodology

The primary objective of the Global Conversational AI Market report is to deliver a comprehensive analysis of the market in accessible language for stakeholders. The research has involved segmenting the Conversational AI market into major categories, which were further subdivided into various sub-segments. The report offers a detailed examination of drivers, opportunities, restraints, and challenges within the Conversational AI industry, segmented both regionally and by segment.
The report on the Conversational AI Market furnishes an exhaustive analysis, incorporating historical data, insightful perspectives, facts, and statistically validated market statistics. These statistics are based on a well-founded set of assumptions and methodologies. The collection of data for the Conversational AI market report relied on both primary and secondary research methods. This amalgamated data was meticulously analyzed to produce precise and reliable findings.

Incorporating secondary research, the report delves into annual and financial reports of leading players, while primary research involves interviews with key opinion leaders and experts within the Conversational AI industry, including frontline personnel, entrepreneurs, and marketing professionals. The estimation of the Conversational AI market size was achieved through a bottom-up approach. The report employs SWOT analysis to outline the strengths and weaknesses of the Conversational AI Market, and leverages PESTLE and PORTER analyses to outline the impacts of macroeconomic and microeconomic factors on the global Conversational AI Market.

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Conversational AI Market Regional Insights

Geographically, the report is segmented into several key countries, with Conversational AI market size, growth rate, import and export of Conversational AI market in these countries, which cover North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and the Middle East and Africa.

Conversational AI Market Segmentation

by Component

Solutions
Services
Professional Services

the Solutions segment held the highest market share of about 50% in 2022 and is expected to dominate the global Conversational AI Market at the end of the forecast period. Followed by Managed services segment and professional services segment are expected to grow rapidly during the forecast period. The dominant proportion for the Solutions segment is ascribed to organizations' large-scale use of in-house conversational AI technology. AI-enhanced support solutions may provide users with system availability and 24/7 consultation, allowing organizations to provide dependable customer care. Due to this, the population is impressed and the demand is increasing eventually. The services are essential to the effectiveness of conversational AI systems. Human relationships are frequently difficult due to the diversity and richness of human languages. Customers from various demographic groups convey the same express purpose in different ways. As a result, chatbots must be educated to understand the common purpose.

by Type

Chatbots
Intelligent Virtual Assistants (IVA)

by Deployment Mode

Cloud
On-premises

by Technology

ML and Deep Learning
Natural Language Processing (NLP)
Automatic Speech Recognition (ASR)

by Vertical

Banking Finance Services and Insurance (BFSI)
Healthcare and Life Sciences
IT and Telecom
Retail and eCommerce
Travel and Hospitality
Media and Entertainment
Automotive
Others (government, education, energy and utilities, and manufacturing)

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Conversational AI Market Key Players

1. Google
2. Microsoft
3. Amazon Web Services, Inc.
4. IBM
5. Oracle
6. Nuance Communications, Inc.
7. FIS
8. SAP SE
9. Artificial Solutions
10. Kore.ai, Inc.
11. Avaamo
12. Conversica, Inc.
13. Jio Haptik Technologies Limited
14. Rasa Technologies Inc.
15. Solvvy
16. Pypestream Inc.
17. Kasisto
18. Cognigy
19. Baidu, Inc.
15. Others
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Key Questions Addressed in This Report:

1. How has the Conversational AI market performed so far and how will it perform in the coming years?
2. What is the market segmentation of the global Conversational AI market?
3. What is the regional breakup of the global Conversational AI market?
4. What are the price trends of various feedstocks in the Conversational AI industry?
5. What is the structure of the Conversational AI industry and who are the key players?
6. What are the various unit operations involved in a Conversational AI processing plant?
7. What is the total size of land required for setting up a Conversational AI processing plant?
8. What is the layout of a Conversational AI processing plant?
9. What are the machinery requirements for setting up a Conversational AI processing plant?
10. What are the raw material requirements for setting up a Conversational AI processing plant?
11. What are the packaging requirements for setting up a Conversational AI processing plant?
12. What are the transportation requirements for setting up a Conversational AI processing plant?
13. What are the utility requirements for setting up a Conversational AI processing plant?
14. What are the human resource requirements for setting up a Conversational AI processing plant?
15. What are the infrastructure costs for setting up a Conversational AI processing plant?
16. What are the capital costs for setting up a Conversational AI processing plant?
17. What are the operating costs for setting up a Conversational AI processing plant?
18. What should be the pricing mechanism of the final product?
19. What will be the income and expenditures for a Conversational AI processing plant?
20. What is the time required to break even?
21. What are the profit projections for setting up a Conversational AI processing plant?
22. What are the key success and risk factors in the Conversational AI industry?
23. What are the key regulatory procedures and requirements for setting up a Conversational AI processing plant?
24. What are the key certifications required for setting up a Conversational AI processing plant?

Key Offerings:

A detailed Analysis of the Market Overview
Market Share, Size & Forecast by Revenue | 2023−2029
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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