Product Code: GVR-4-68039-944-1
Conversational AI Market Growth & Trends:
The global conversational AI market size is anticipated to reach USD 41.39 billion in 2030 and is anticipated to grow at a CAGR of 23.7% from 2025 to 2030. The market growth is driven by user engagement across platforms and the growing deployment of powerful AI technology. It shows that consumers and businesses alike see technology as a way to grow their operations. Since conversational AI is becoming a more important technology, businesses must apply virtual assistants or chatbots with the right goals in mind. The rapid expansion of the E-commerce sector and digitalization is creating ideal circumstances for the demand for customer support services.
Global market adoption of AI is boosted by omnichannel deployment, 24/7 improved customer service, real-time customized service, and lower customer service costs. A new enterprise CX Platform was launched by Jio platform's Haptik in October 2021 to support conversational AI solutions. With the help of this platform, businesses may quickly launch intelligent virtual assistants in a low-code environment. The market growth is predicted to be aided by the service sector's expanding 'Chat first' approach and technological advancements like natural language processing (NLP). In November 2021, with the introduction of new conversational AI technology by ZeroShotBot, chatbots of all sizes are now considered standard.
With ZeroShotBot, anybody can create a fully functional chatbot without any coding knowledge due to innovative technology that eliminates the requirement for training data. Moreover, in January 2022, Visionstate Corp. introduced innovative Vicci 2.0, a state-of-the-art conversational chatbot AI-powered customer service kiosk. Visionstate is implementing this technology into its Vicci 2.0 platform to serve on-site customer service influenced by AI. The Vicci 2.0 platform can back a broad range of consumers through its modification capability to support various languages. However, the need for expertsto handle conversational AI and a lack of awareness of conversational AI prevent conversational AI from becoming widely used.
Offering a top-notch digital experience is more important for businesses. Customer experience firms now can swiftly and efficiently address complicated questions and inquiries because of the development of conversational AI. Major players in the market are engaged in partnerships and strategic collaborations to enhance their products and service offerings and expand the consumer base. For instance, to upgrade omnichannel competencies like Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Supply Chain Management (SCM), and Human Resources Management System (HRMS), Yellow.ai and Tech Mahindra jointly develop next-generation conversational-AI technologies.
Conversational AI Market Report Highlights:
- The solution segment led the conversational AI industry in 2024, accounting for 61.1% share of the global revenue
- The chatbot segment led the market in 2024, accounting for a significant share of the global revenue
- The on-premises segment led the market in 2024, accounting for a prominent share of the global revenue. This is attributable to the flexibility delivered to the customer, due to which the transaction is done only once
- The NLP segment led the conversational AI industry in 2024, accounting for a significant revenue share of global revenue
- Based on the end user, The retail and e-commerce segment led the market in 2024, accounting for a prominent share of global revenue
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.2.1. Information Procurement
- 1.3. Information or Data Analysis
- 1.4. Methodology
- 1.5. Research Scope and Assumptions
- 1.6. Market Formulation & Validation
- 1.7. Country Based Segment Share Calculation
- 1.8. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Conversational AI Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Challenge
- 3.2.4. Industry Opportunities
- 3.3. Conversational AI Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic and Social landscape
- 3.3.2.3. Technological landscape
- 3.4. Pain Point Analysis
Chapter 4. Conversational AI Market: Component Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Conversational AI Market: Component Movement Analysis, 2022 & 2030 (USD Million)
- 4.3. Solutions
- 4.3.1. Solutions Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Services
- 4.4.1. Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Professional Services
- 4.5.1. Professional Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Conversational AI Market: Type Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Conversational AI Market: Type Movement Analysis, 2022 & 2030 (USD Million)
- 5.3. Chatbots
- 5.3.1. Chatbots Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Intelligent Virtual Assistants (IVA)
- 5.4.1. Intelligent Virtual Assistants (IVA) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Conversational AI Market: Deployment Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Conversational AI Market: Deployment Movement Analysis, 2022 & 2030 (USD Million)
- 6.3. Cloud
- 6.3.1. Cloud Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. On-Premises
- 6.4.1. On-Premises Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Conversational AI Market: Technology Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Conversational AI Market: Technology Movement Analysis, 2022 & 2030 (USD Million)
- 7.3. Natural Language Processing (NLP)
- 7.3.1. Natural Language Processing (NLP) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4. ML and Deep Learning
- 7.4.1. ML and Deep Learning Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5. Automatic Speech Recognition (ASR)
- 7.6. Automatic Speech Recognition (ASR) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Conversational AI Market: End User Estimates & Trend Analysis
- 8.1. Segment Dashboard
- 8.2. Conversational AI Market: End User Movement Analysis, 2022 & 2030 (USD Million)
- 8.3. BFSI
- 8.3.1. BFSI Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.4. Healthcare
- 8.4.1. Healthcare Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.5. IT and Telecom
- 8.5.1. IT and Telecom Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6. Retail and eCommerce
- 8.6.1. Retail and eCommerce Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.7. Education
- 8.7.1. Education Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.8. Media and Entertainment
- 8.8.1. Media and Entertainment Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.9. Automotive
- 8.9.1. Automotive Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.10. Others
- 8.10.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 9. Conversational AI Market: Regional Estimates & Trend Analysis
- 9.1. Conversational AI Market Share, By Region, 2022 & 2030 (USD Million)
- 9.2. North America
- 9.2.1. North America Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.2.2. U.S.
- 9.2.2.1. U.S. Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.2.3. Canada
- 9.2.3.1. Canada Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.2.4. Mexico
- 9.2.4.1. Mexico Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.3. Europe
- 9.3.1. Europe Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.3.2. UK
- 9.3.2.1. UK Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.3.3. Germany
- 9.3.3.1. Germany Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.3.4. France
- 9.3.4.1. France Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.4. Asia Pacific
- 9.4.1. Asia Pacific Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.4.2. China
- 9.4.2.1. China Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.4.3. Japan
- 9.4.3.1. Japan Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.4.4. India
- 9.4.4.1. India Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.4.5. South Korea
- 9.4.5.1. South Korea Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.4.6. Australia
- 9.4.6.1. Australia Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.5. Latin America
- 9.5.1. Latin America Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.5.2. Brazil
- 9.5.2.1. Brazil Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.6. Middle East and Africa
- 9.6.1. Middle East and Africa Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.6.2. Kingdom of Saudi Arabia
- 9.6.2.1. Kingdom of Saudi Arabia Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.6.3. UAE
- 9.6.3.1. UAE Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.6.4. South Africa
- 9.6.4.1. South Africa Conversational AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 10. Competitive Landscape
- 10.1. Company Categorization
- 10.2. Company Market Positioning
- 10.3. Participant's Overview
- 10.4. Financial Performance
- 10.5. Product Benchmarking
- 10.6. Company Heat Map Analysis
- 10.7. Strategy Mapping
- 10.8. Company Profiles/Listing
- 10.8.1. Google
- 10.8.2. Microsoft
- 10.8.3. Amazon Web Services, Inc.
- 10.8.4. IBM
- 10.8.5. Oracle
- 10.8.6. Nuance Communications, Inc.
- 10.8.7. FIS
- 10.8.8. SAP SE
- 10.8.9. Artificial Solutions
- 10.8.10. Kore.ai, Inc.
- 10.8.11. Avaamo
- 10.8.12. Conversica, Inc.
- 10.8.13. Jio Haptik Technologies Limited
- 10.8.14. Rasa Technologies Inc.
- 10.8.15. Solvvy
- 10.8.16. Pypestream Inc.
- 10.8.17. Kasisto
- 10.8.18. Cognigy