June 6, 2024
ICT

Conversational AI Market Size to Garner USD 86.42 Billion by 2032

The global Conversational AI market size was estimated to be around US$ 10.08 billion in 2022. It is projected to reach US$ 86.42 billion by 2032, indicating a CAGR of 23.97% from 2023 to 2032.

Conversational AI Market Size 2023 To 2032

Key Takeaways:

  • North America led the global market and contributed more than 30% of revenue share in 2022.
  • By Component, the on-premises segment is expected to capture the largest market share over the forecast period.
  • By Type, the chatbot segment is expected to dominate the market during the forecast period.
  • By Deployment, the on-premises segment is expected to capture the largest market share over the forecast period.
  • By Technology, the natural language processing (NLP) segment is expected to dominate the market during the forecast period.
  • By End-user, the retail & ecommerce segment is expected to lead the market growth over the projected period.

The market research report on the Conversational AI market provides a comprehensive analysis of various key aspects. It includes the definition, classification, and application of Conversational AI products. The report examines the development trends, competitive landscape, and industrial chain structure within the industry. Furthermore, it presents an overview of the industry, analyzes national policies and planning, and offers insights into the latest market dynamics and opportunities at a global level.

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Report Scope of the Conversational AI Market:

Report Coverage Details
Market Size in 2023 USD 12.5 Billion
Market Size by 2032 USD 86.42 Billion
Growth Rate from 2023 to 2032 CAGR of 23.97%
Largest Market North America
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered By Component, By Type, By Deployment, By Technology, and By Technology
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Read More: Respiratory Disease Vaccine Market Size to Garner USD 116.53 Billion by 2032

The report presents the volume and value-based market size for the base year 2022 and forecasts the market’s growth between 2023 and 2032. It estimates market numbers based on product form and application, providing size and forecast for each application segment in both global and regional markets.

Focusing on the global Conversational AI market, the report highlights its status, future forecasts, growth opportunities, key market players, and key market regions such as the United States, Europe, and China. The study aims to present the development of the Conversational AI market by considering factors like Year-on-Year (Y-o-Y) growth, in addition to Compound Annual Growth Rate (CAGR). This approach enables a better understanding of market certainty and the identification of lucrative opportunities.

Regarding production, the report investigates the capacity, production, value, ex-factory price, growth rate, and market share of major manufacturers, regions, and product types. On the consumption side, the report focuses on the regional consumption of Conversational AI products across different countries and applications.

Buyers of the report gain access to verified market figures, including global market size in terms of revenue and volume. The report provides reliable estimations and calculations for global revenue and volume by product type from 2023 to 2032. It also includes accurate figures for production capacity and production by region during the same period.

The research includes product parameters, production processes, cost structures, and data classified by region, technology, and application. Furthermore, it conducts SWOT analysis and investment feasibility studies for new projects.

This in-depth research report offers valuable insights into the Conversational AI market. It employs an objective and fair approach to analyze industry trends, supporting customer competition analysis, development planning, and investment decision-making. The project received support and assistance from technicians and marketing personnel across various links in the industry chain.

The competitive landscape section of the report provides detailed information on Conversational AI market competitors. It includes company overviews, financials, revenue generation, market potential, research and development investments, new market initiatives, global presence, production sites, production capacities, strengths and weaknesses, product launches, product range, and application dominance. However, the data points provided only focus on the companies’ activities related to the Conversational AI market.

Prominent players in the market are expected to face tough competition from new entrants. Key players are targeting acquisitions of startup companies to maintain their dominance. The report

Reasons to Purchase this Report:

  • Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
  • In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
  • Market size in USD million and volume in million units provided for each segment and sub-segment.
  • Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
  • Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

Key Market Players:

  • Oracle
  • IBM
  • Amazon Web Services, Inc.
  • Microsoft
  • Avaamo
  • Nuance Communications, Inc.
  • FIS
  • SAP SE
  • Artificial Solutions
  • Kore.ai, Inc.
  • Google
  • Conversica, Inc.
  • Jio Haptik Technologies Ltd.
  • Rasa Technologies Inc.

Segments Covered in the Report:

By Component

  • Solutions
  • Managed Services
  • Professional Services
    • Training & Consulting
    • System Integration & Implementation
    • Support & Maintenance

By Type

  • Chatbots
  • Intelligent Virtual Assistant (IVA)

By Deployment

  • On-premises
  • Cloud

By Technology

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

By End User

  • BFSI
  • Healthcare
  • IT & Telecom
  • Retail & eCommerce
  • Education
  • Media & Entertainment
  • Automotive
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Conversational AI Market 

5.1. COVID-19 Landscape: Conversational AI Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Conversational AI Market, By Component

8.1. Conversational AI Market, by Component, 2023-2032

8.1.1. Solutions

8.1.1.1. Market Revenue and Forecast (2020-2032)

8.1.2. Managed Services

8.1.2.1. Market Revenue and Forecast (2020-2032)

8.1.3. Professional Services

8.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 9. Global Conversational AI Market, By Type

9.1. Conversational AI Market, by Type, 2023-2032

9.1.1. Chatbots

9.1.1.1. Market Revenue and Forecast (2020-2032)

9.1.2. Intelligent Virtual Assistant (IVA)

9.1.2.1. Market Revenue and Forecast (2020-2032)

Chapter 10. Global Conversational AI Market, By Deployment 

10.1. Conversational AI Market, by Deployment, 2023-2032

10.1.1. On-premises

10.1.1.1. Market Revenue and Forecast (2020-2032)

10.1.2. Cloud

10.1.2.1. Market Revenue and Forecast (2020-2032)

Chapter 11. Global Conversational AI Market, By Technology

11.1. Conversational AI Market, by Technology, 2023-2032

11.1.1. Natural Language Processing (NLP)

11.1.1.1. Market Revenue and Forecast (2020-2032)

11.1.2. ML and Deep Learning

11.1.2.1. Market Revenue and Forecast (2020-2032)

11.1.3. Automatic Speech Recognition (ASR)

11.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 12. Global Conversational AI Market, By End User

12.1. Conversational AI Market, by End User, 2023-2032

12.1.1. BFSI

12.1.1.1. Market Revenue and Forecast (2020-2032)

12.1.2. Healthcare

12.1.2.1. Market Revenue and Forecast (2020-2032)

12.1.3. IT & Telecom

12.1.3.1. Market Revenue and Forecast (2020-2032)

12.1.4. Retail & eCommerce

12.1.4.1. Market Revenue and Forecast (2020-2032)

12.1.5. Education

12.1.5.1. Market Revenue and Forecast (2020-2032)

12.1.6. Media & Entertainment

12.1.6.1. Market Revenue and Forecast (2020-2032)

12.1.7. Automotive

12.1.7.1. Market Revenue and Forecast (2020-2032)

12.1.8. Others

12.1.8.1. Market Revenue and Forecast (2020-2032)

Chapter 13. Global Conversational AI Market, Regional Estimates and Trend Forecast

13.1. North America

13.1.1. Market Revenue and Forecast, by Component (2020-2032)

13.1.2. Market Revenue and Forecast, by Type (2020-2032)

13.1.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.1.4. Market Revenue and Forecast, by Technology (2020-2032)

13.1.5. Market Revenue and Forecast, by End User (2020-2032)

13.1.6. U.S.

13.1.6.1. Market Revenue and Forecast, by Component (2020-2032)

13.1.6.2. Market Revenue and Forecast, by Type (2020-2032)

13.1.6.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.1.6.4. Market Revenue and Forecast, by Technology (2020-2032)

13.1.6.5. Market Revenue and Forecast, by End User (2020-2032)

13.1.7. Rest of North America

13.1.7.1. Market Revenue and Forecast, by Component (2020-2032)

13.1.7.2. Market Revenue and Forecast, by Type (2020-2032)

13.1.7.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.1.7.4. Market Revenue and Forecast, by Technology (2020-2032)

13.1.7.5. Market Revenue and Forecast, by End User (2020-2032)

13.2. Europe

13.2.1. Market Revenue and Forecast, by Component (2020-2032)

13.2.2. Market Revenue and Forecast, by Type (2020-2032)

13.2.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.2.4. Market Revenue and Forecast, by Technology (2020-2032)

13.2.5. Market Revenue and Forecast, by End User (2020-2032)

13.2.6. UK

13.2.6.1. Market Revenue and Forecast, by Component (2020-2032)

13.2.6.2. Market Revenue and Forecast, by Type (2020-2032)

13.2.6.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.2.7. Market Revenue and Forecast, by Technology (2020-2032)

13.2.8. Market Revenue and Forecast, by End User (2020-2032)

13.2.9. Germany

13.2.9.1. Market Revenue and Forecast, by Component (2020-2032)

13.2.9.2. Market Revenue and Forecast, by Type (2020-2032)

13.2.9.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.2.10. Market Revenue and Forecast, by Technology (2020-2032)

13.2.11. Market Revenue and Forecast, by End User (2020-2032)

13.2.12. France

13.2.12.1. Market Revenue and Forecast, by Component (2020-2032)

13.2.12.2. Market Revenue and Forecast, by Type (2020-2032)

13.2.12.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.2.12.4. Market Revenue and Forecast, by Technology (2020-2032)

13.2.13. Market Revenue and Forecast, by End User (2020-2032)

13.2.14. Rest of Europe

13.2.14.1. Market Revenue and Forecast, by Component (2020-2032)

13.2.14.2. Market Revenue and Forecast, by Type (2020-2032)

13.2.14.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.2.14.4. Market Revenue and Forecast, by Technology (2020-2032)

13.2.15. Market Revenue and Forecast, by End User (2020-2032)

13.3. APAC

13.3.1. Market Revenue and Forecast, by Component (2020-2032)

13.3.2. Market Revenue and Forecast, by Type (2020-2032)

13.3.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.3.4. Market Revenue and Forecast, by Technology (2020-2032)

13.3.5. Market Revenue and Forecast, by End User (2020-2032)

13.3.6. India

13.3.6.1. Market Revenue and Forecast, by Component (2020-2032)

13.3.6.2. Market Revenue and Forecast, by Type (2020-2032)

13.3.6.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.3.6.4. Market Revenue and Forecast, by Technology (2020-2032)

13.3.7. Market Revenue and Forecast, by End User (2020-2032)

13.3.8. China

13.3.8.1. Market Revenue and Forecast, by Component (2020-2032)

13.3.8.2. Market Revenue and Forecast, by Type (2020-2032)

13.3.8.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.3.8.4. Market Revenue and Forecast, by Technology (2020-2032)

13.3.9. Market Revenue and Forecast, by End User (2020-2032)

13.3.10. Japan

13.3.10.1. Market Revenue and Forecast, by Component (2020-2032)

13.3.10.2. Market Revenue and Forecast, by Type (2020-2032)

13.3.10.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.3.10.4. Market Revenue and Forecast, by Technology (2020-2032)

13.3.10.5. Market Revenue and Forecast, by End User (2020-2032)

13.3.11. Rest of APAC

13.3.11.1. Market Revenue and Forecast, by Component (2020-2032)

13.3.11.2. Market Revenue and Forecast, by Type (2020-2032)

13.3.11.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.3.11.4. Market Revenue and Forecast, by Technology (2020-2032)

13.3.11.5. Market Revenue and Forecast, by End User (2020-2032)

13.4. MEA

13.4.1. Market Revenue and Forecast, by Component (2020-2032)

13.4.2. Market Revenue and Forecast, by Type (2020-2032)

13.4.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.4.4. Market Revenue and Forecast, by Technology (2020-2032)

13.4.5. Market Revenue and Forecast, by End User (2020-2032)

13.4.6. GCC

13.4.6.1. Market Revenue and Forecast, by Component (2020-2032)

13.4.6.2. Market Revenue and Forecast, by Type (2020-2032)

13.4.6.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.4.6.4. Market Revenue and Forecast, by Technology (2020-2032)

13.4.7. Market Revenue and Forecast, by End User (2020-2032)

13.4.8. North Africa

13.4.8.1. Market Revenue and Forecast, by Component (2020-2032)

13.4.8.2. Market Revenue and Forecast, by Type (2020-2032)

13.4.8.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.4.8.4. Market Revenue and Forecast, by Technology (2020-2032)

13.4.9. Market Revenue and Forecast, by End User (2020-2032)

13.4.10. South Africa

13.4.10.1. Market Revenue and Forecast, by Component (2020-2032)

13.4.10.2. Market Revenue and Forecast, by Type (2020-2032)

13.4.10.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.4.10.4. Market Revenue and Forecast, by Technology (2020-2032)

13.4.10.5. Market Revenue and Forecast, by End User (2020-2032)

13.4.11. Rest of MEA

13.4.11.1. Market Revenue and Forecast, by Component (2020-2032)

13.4.11.2. Market Revenue and Forecast, by Type (2020-2032)

13.4.11.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.4.11.4. Market Revenue and Forecast, by Technology (2020-2032)

13.4.11.5. Market Revenue and Forecast, by End User (2020-2032)

13.5. Latin America

13.5.1. Market Revenue and Forecast, by Component (2020-2032)

13.5.2. Market Revenue and Forecast, by Type (2020-2032)

13.5.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.5.4. Market Revenue and Forecast, by Technology (2020-2032)

13.5.5. Market Revenue and Forecast, by End User (2020-2032)

13.5.6. Brazil

13.5.6.1. Market Revenue and Forecast, by Component (2020-2032)

13.5.6.2. Market Revenue and Forecast, by Type (2020-2032)

13.5.6.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.5.6.4. Market Revenue and Forecast, by Technology (2020-2032)

13.5.7. Market Revenue and Forecast, by End User (2020-2032)

13.5.8. Rest of LATAM

13.5.8.1. Market Revenue and Forecast, by Component (2020-2032)

13.5.8.2. Market Revenue and Forecast, by Type (2020-2032)

13.5.8.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.5.8.4. Market Revenue and Forecast, by Technology (2020-2032)

13.5.8.5. Market Revenue and Forecast, by End User (2020-2032)

Chapter 14. Company Profiles

14.1. Oracle

14.1.1. Company Overview

14.1.2. Product Offerings

14.1.3. Financial Performance

14.1.4. Recent Initiatives

14.2. IBM

14.2.1. Company Overview

14.2.2. Product Offerings

14.2.3. Financial Performance

14.2.4. Recent Initiatives

14.3. Amazon Web Services, Inc.

14.3.1. Company Overview

14.3.2. Product Offerings

14.3.3. Financial Performance

14.3.4. Recent Initiatives

14.4. Microsoft

14.4.1. Company Overview

14.4.2. Product Offerings

14.4.3. Financial Performance

14.4.4. Recent Initiatives

14.5. Avaamo

14.5.1. Company Overview

14.5.2. Product Offerings

14.5.3. Financial Performance

14.5.4. Recent Initiatives

14.6. Nuance Communications, Inc.

14.6.1. Company Overview

14.6.2. Product Offerings

14.6.3. Financial Performance

14.6.4. Recent Initiatives

14.7. FIS

14.7.1. Company Overview

14.7.2. Product Offerings

14.7.3. Financial Performance

14.7.4. Recent Initiatives

14.8. SAP SE

14.8.1. Company Overview

14.8.2. Product Offerings

14.8.3. Financial Performance

14.8.4. Recent Initiatives

14.9. Artificial Solutions

14.9.1. Company Overview

14.9.2. Product Offerings

14.9.3. Financial Performance

14.9.4. Recent Initiatives

14.10. Kore.ai, Inc.

14.10.1. Company Overview

14.10.2. Product Offerings

14.10.3. Financial Performance

14.10.4. Recent Initiatives

Chapter 15. Research Methodology

15.1. Primary Research

15.2. Secondary Research

15.3. Assumptions

Chapter 16. Appendix

16.1. About Us

16.2. Glossary of Terms

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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