May 20, 2024
ICT

Conversational AI Market Size To Rake USD 86.42 Bn By 2032

The conversational AI market size is poised to grow by USD 86.42 billion by 2032 from USD 10.08 billion in 2022, exhibiting a CAGR of 23.97% during the forecast period 2023-2032.

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.

Precedence Research has conducted a comprehensive market study that provides valuable insights into the performance of the market during the forecast period. The study identifies significant trends that are shaping the growth of the Conversational AI market. In this recently published report, essential dynamics such as drivers, restraints, and opportunities are highlighted for both established market players and emerging participants involved in production and supply.

To begin with, the Conversational AI Market report features an executive summary that offers a concise overview of the marketplace. It outlines the key players and industry categories expected to have an impact on the market in the coming years. The executive summary provides an unbiased summary of the market.

Get a Sample Reporthttps://www.precedenceresearch.com/sample/3250

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 Gain USD 116.53 Bn by 2032

The empirical study on the global Conversational AI market primarily focuses on the drivers in subsequent sections. It demonstrates how changing demographics are projected to influence the supply and demand dynamics in the Conversational AI Market. Our market report for the Conversational AI market also delves into the significant rules and regulations that are likely to impact the future growth of this sector. Moreover, in order to comprehend the underlying demand factors, industry experts have provided insights into its fundamental origins.

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.

Data Sources and Methodology

To gather comprehensive insights on the Global Conversational AI Market, we relied on a range of data sources and followed a well-defined methodology. Our approach involved interactions with industry experts and key stakeholders across the market’s value chain, including management organizations, processing organizations, and analytics service providers.

We followed a rigorous data analysis process to ensure the quality and credibility of our research. The gathered information was carefully evaluated, and relevant quantitative data was subjected to statistical analysis. By employing robust analytical techniques, we were able to derive meaningful insights and present a comprehensive overview of the Global Conversational AI Market.

The most resonating, simple, genuine, and important causes because of which you must decide to buy the Conversational AI market report exclusively from precedence research

  • The research report has been meticulously crafted to provide comprehensive knowledge on essential marketing strategies and a holistic understanding of crucial marketing plans spanning the forecasted period from 2023 to 2032.

Key Features of the Report:

  • Comprehensive Coverage: The report extensively encompasses a detailed explanation of highly effective analytical marketing methods applicable to companies across all industry sectors.
  • Decision-Making Enhancement: It outlines a concise overview of the decision-making process while highlighting key techniques to enhance it, ensuring favorable business outcomes in the future.
  • Articulated R&D Approach: The report presents a well-defined approach to conducting research and development (R&D) activities, enabling accurate data acquisition on current and future marketing conditions.

Market Segmentation:

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

Reasons to Consider Purchasing the Report:

  • Enhance your market research capabilities by accessing this comprehensive and precise report on the global Conversational AI market.
  • Gain a thorough understanding of the overall market landscape and be prepared to overcome challenges while ensuring robust growth.
  • Benefit from in-depth research and analysis of the latest trends shaping the global Conversational AI market.
  • Obtain detailed insights into evolving market trends, current and future technologies, and strategic approaches employed by key players in the global Conversational AI market.
  • Receive valuable recommendations and guidance for both new entrants and established players seeking further market expansion.
  • Discover not only the cutting-edge technological advancements in the global Conversational AI market but also the strategic plans of industry leaders.

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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