Over the projected period, virtual assistants, such as chatbots and smart speakers, are used for various applications across several end-user industries, such as retail, BFSI, healthcare, and others. For instance, the banking sector has been a significant adopter of newer technologies such as natural language processors (NLP) and application programming interface (API), due to the chatbot's dependence on speed, trust, communication, and integrated assistance. Chatbots in the various sectors has facilitated communication and build customer relation through cognitive analytics by learning customers' thinking for instant assistance. Thus, the market is projected to witness substantial growth throughout forecast period.
Frequently Asked Questions
The market is segmented based on Global Chatbot Market Segmentation, By Type (Standalone, Web Based, Messenger Based/Third Party), Product (Artificial Intelligence, Human Intelligence, Marketing), Organizational Size (Small Enterprise, Medium Enterprise and Large Enterprise), Application (Bots For Service, Bots For Social Media, Bots For Payment/Order Processing, Bots For Marketing and Others), End-Use (Healthcare, Retail, Banking Financial Services and Insurance (BFSI), Media and Entertainment, Travel and Tourism, E-commerce and Others) – Industry Trends and Forecast to 2031
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The Global Chatbots Market size was valued at USD 5.34 USD Billion in 2023.
The Global Chatbots Market is projected to grow at a CAGR of 22.1% during the forecast period of 2024 to 2031.
The major players operating in the market include , Aivo LLC , Artificial Solutions , Creative Virtual , Inbenta Holdings , IBM , eGain Corporation , Nuance Communications , Google , Amazon Web Services , smartbots , Contus , CogniCor Technologies , Conversica , Kevit , Anboto , Cyfuture India Pvt. ,.
The market report covers data from the U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
