Brooklyn, New York, March 20, 2023 (GLOBE NEWSWIRE) -- According to a recently revamped/updated market research report published by Global Market Estimates, the Global Conversational AI Market is projected to grow from USD 6.21 billion in 2023 to USD 32.54 billion in 2028 at a CAGR of 22.8% from 2023 to 2028.
Conversational AI combines natural language processing (NLP) with software like chatbots, voice assistants, or an interactive voice recognition system to help customers through either a spoken or typed interface. The growing demand for AI-powered customer support services, omnichannel deployment, and lower chatbot development costs are all driving the conversational AI market growth.
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on “Global Conversational AI Market - Forecast to 2028’’
Key Market Insights
- As per the component outlook, the solution segment is expected to be the largest segment in the global market from 2023 to 2028
- As per the technology outlook, the machine learning segment holds the largest share of the market
- The Asia Pacific region is analyzed to be the fastest-growing region in the market
- North America region will have the largest share in the market during the forecast period [2023-2028]
- Google, Microsoft, IBM, AWS, Oracle, SAP, FIS, Baidu, and Artificial Solution, among others, are key players in the conversational AI market
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Component Outlook (Revenue, USD Billion, 2023-2028)
- Solutions
- Services
Technology Outlook (Revenue, USD Billion, 2023-2028)
- Machine & Deep Learning
- NLP
- ASR
Deployment Mode Outlook (Revenue, USD Billion, 2023-2028)
- Cloud
- On-premises
Vertical Outlook (Revenue, USD Billion, 2023-2028)
- Banking Finance Services and Insurance (BFSI)
- Healthcare and Life Sciences
- IT and Telecom
- Retail and eCommerce
- Travel and Hospitality
- Media and Entertainment
- Automotive
- Others
Regional Outlook (Revenue, USD Billion, 2023-2028)
North America
- The U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Spain
- Italy
- Netherlands
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Malaysia
- Singapore
- Vietnam
- Rest of APAC
Central & South America
- Brazil
- Argentina
- Chile
- Rest of CSA
Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of MEA
Contact: Yash Jain
Director - Global Accounts & Strategic Advisory
Email address: yash.jain@globalmarketestimates.com
Phone Number: +1 6026667238
LinkedIn: https://www.linkedin.com/in/yash-jain-global-market-estimates/
Website: www.globalmarketestimates.com
