Report cover image

Conversational AI Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Aug 01, 2024
Length 155 Pages
SKU # FOB19136291

Description

Conversational AI Market



Growth Factors of Conversational AI Market

The conversational AI market size was valued at USD 10.19 billion in 2023, and the market is now projected to grow from USD 12.24 billion in 2024 to USD 61.69 billion by 2032, exhibiting a CAGR of 24.4% during the forecast period of 2024-2032.

The COVID-19 pandemic had a combined effect on the market. Increased digital service call for and the shift to remote paintings undoubtedly influenced the want for facts processing and garage answers, riding boom in excessive-scale statistics facilities. However, the market additionally confronted demanding situations, consisting of disruptions in international deliver chains and constrained employee mobility, which slowed expansion.

The developing adoption of cloud-computing offerings by way of firms enhances usual IT spending because of multiplied garage and computing desires. The shift to remote work and the rise in digital collaboration and verbal exchange tools force call for cloud services, along with mission management gear, conversation answers, and digital laptop infrastructure. This fashion reflects the expanding reliance on cloud technologies in modern-day commercial enterprise operations.

Large-scale information centers are important for imparting the computing strength and garage capacity needed to handle vast amounts of statistics effectively. The surge in information from IoT gadgets, social media, on-line buying, and other resources has driven the want for superior garage solutions. This developing records volume necessitates innovative techniques to statistics processing and management.

Comprehensive Analysis of Conversational AI Market

The conversational AI market growth is rising at an exponential rate due to its market segmentation. This market expansion correctly offers a detailed nearby assessment considering the dominant supply and demand forces that impact the enterprise. These segmentations are methodically segregated by type analysis, by technology analysis, by deployment analysis, by business function analysis and by industry analysis. By type analysis includes Intelligent Virtual Assistant (IVA) and AI chatbots. By technique analysis includes machine learning (ML), deep learning, Natural Language Processing (NLP), Automatic Speech Recognition (ASR), and others. By deployment analysis includes on-premises and cloud. By business function analysis includes sales & marketing, operations & supply chain, finance and accounting, Human Resources (HR), and IT Service Management (ITSM). By industry analysis includes BFSI, IT and telecom, retail and e-commerce, education, healthcare, media & entertainment, automotive, and others.

The Asia Pacific region lead the conversational AI market share by benefitting a market size of USD 3.64 billion in 2023 due to increasing need for customer support services powered by AI.

The top players in the market play a crucial role in the technology industry assuring industrial prospectus growth and setting market standards. These players include, Google LLC, Microsoft Corporation, Amazon Web Services, Inc., IBM Corporation, Oracle Corporation, Cognigy, Amelia US LLC, Avaamo, Omilia Natural Language Solutions Ltd., Kore.ai Inc. these market players provide a level-playing competitive landscape.

In April 2024, AWS led by Amazon has released Amazon Q an application of generative AI that synchronizes with Amazon QuickSight to improve internal software development and uses the company’s data.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019–2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024–2032

Historical Period 2019–2022

Growth Rate CAGR of 22.4% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Component
  • Intelligent Virtual Assistant (IVA)
  • AI Chatbots
By Technology
  • Machine Learning (ML) and Deep Learning
  • Natural Language Processing (NLP)
  • Automatic Speech Recognition (ASR)
  • Others (Data Mining, etc.)
By Deployment
  • On-premises
  • Cloud
By Business Function
  • Sales & Marketing
  • Operations & Supply Chain
  • Finance and Accounting
  • Human Resources (HR)
  • IT Service Management (ITSM)
By Industry
  • BFSI
  • IT and Telecom
  • Retail and e-Commerce
  • Education
  • Healthcare
  • Media & Entertainment
  • Automotive
  • Others (Government, Travel & Hospitality)
By Region
  • North America (By Type, Technology, Deployment, Business Function, Industry, and Country)
- U.S.

- Canada

- Mexico
  • South America (By Type, Technology, Deployment, Business Function, Industry, and Country)
- Brazil

- Argentina

- Rest of South America
  • Europe (By Type, Technology, Deployment, Business Function, Industry, and Country)
- U.K.

- Germany

- France

- Italy

- Spain

- Russia

- Benelux

- Nordics

- Rest of Europe
  • Middle East & Africa (By Type, Technology, Deployment, Business Function, Industry, and Country)
- Turkey

- Israel

- GCC

- North Africa

- South Africa

- Rest of the Middle East & Africa
  • Asia Pacific (By Type, Technology, Deployment, Business Function, Industry, and Country)
- China

- India

- Japan

- South Korea

- ASEAN

- Oceania

- Rest of Asia Pacific


Please Note: It will take 5-6 business days to complete the report upon order confirmation.

Table of Contents

155 Pages
1. Introduction
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of Generative AI
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Global Conversational AI Key Players Market Share/Ranking, 2023
5. Global Conversational AI Market Size Estimates and Forecasts, By Segments, 2019-2032
5.1. Key Findings
5.2. By Component (USD)
5.2.1. Intelligent Virtual Assistant (IVA)
5.2.2. AI Chatbots
5.3. By Technology (USD)
5.3.1. Machine Learning (ML) and Deep Learning
5.3.2. Natural Language Processing (NLP)
5.3.3. Automatic Speech Recognition (ASR)
5.3.4. Others (Data Mining, etc.)
5.4. By Deployment (USD)
5.4.1. On-premises
5.4.2. Cloud
5.5. By Business Function (USD)
5.5.1. Sales & Marketing
5.5.2. Operations & Supply Chain
5.5.3. Finance and Accounting
5.5.4. Human Resources (HR)
5.5.5. IT Service Management (ITSM)
5.6. By Industry (USD)
5.6.1. BFSI
5.6.2. IT and Telecom
5.6.3. Retail and eCommerce
5.6.4. Education
5.6.5. Healthcare
5.6.6. Media & Entertainment
5.6.7. Automotive
5.6.8. Others (Government, Travel & Hospitality, etc.)
5.7. By Region (USD)
5.7.1. North America
5.7.2. South America
5.7.3. Europe
5.7.4. Middle East & Africa
5.7.5. Asia Pacific
6. North America Conversational AI Market Size Estimates and Forecasts, By Segments, 2019-2032
6.1. Key Findings
6.2. By Component (USD)
6.2.1. Intelligent Virtual Assistant (IVA)
6.2.2. AI Chatbots
6.3. By Technology (USD)
6.3.1. Machine Learning (ML) and Deep Learning
6.3.2. Natural Language Processing (NLP)
6.3.3. Automatic Speech Recognition (ASR)
6.3.4. Others
6.4. By Deployment (USD)
6.4.1. On-premises
6.4.2. Cloud
6.5. By Business Function (USD)
6.5.1. Sales & Marketing
6.5.2. Operations & Supply Chain
6.5.3. Finance and Accounting
6.5.4. Human Resources (HR)
6.5.5. IT Service Management (ITSM)
6.6. By Industry (USD)
6.6.1. BFSI
6.6.2. IT and Telecom
6.6.3. Retail and eCommerce
6.6.4. Education
6.6.5. Healthcare
6.6.6. Media & Entertainment
6.6.7. Automotive
6.6.8. Others
6.7. By Country (USD)
6.7.1. United States
6.7.2. Canada
6.7.3. Mexico
7. South America Conversational AI Market Size Estimates and Forecasts, By Segments, 2019-2032
7.1. Key Findings
7.2. By Component (USD)
7.2.1. Intelligent Virtual Assistant (IVA)
7.2.2. AI Chatbots
7.3. By Technology (USD)
7.3.1. Machine Learning (ML) and Deep Learning
7.3.2. Natural Language Processing (NLP)
7.3.3. Automatic Speech Recognition (ASR)
7.3.4. Others
7.4. By Deployment (USD)
7.4.1. On-premises
7.4.2. Cloud
7.5. By Business Function (USD)
7.5.1. Sales & Marketing
7.5.2. Operations & Supply Chain
7.5.3. Finance and Accounting
7.5.4. Human Resources (HR)
7.5.5. IT Service Management (ITSM)
7.6. By Industry (USD)
7.6.1. BFSI
7.6.2. IT and Telecom
7.6.3. Retail and eCommerce
7.6.4. Education
7.6.5. Healthcare
7.6.6. Media & Entertainment
7.6.7. Automotive
7.6.8. Others
7.7. By Country (USD)
7.7.1. Brazil
7.7.2. Argentina
7.7.3. Rest of South America
8. Europe Conversational AI Market Size Estimates and Forecasts, By Segments, 2019-2032
8.1. Key Findings
8.2. By Component (USD)
8.2.1. Intelligent Virtual Assistant (IVA)
8.2.2. AI Chatbots
8.3. By Technology (USD)
8.3.1. Machine Learning (ML) and Deep Learning
8.3.2. Natural Language Processing (NLP)
8.3.3. Automatic Speech Recognition (ASR)
8.3.4. Others
8.4. By Deployment (USD)
8.4.1. On-premises
8.4.2. Cloud
8.5. By Business Function (USD)
8.5.1. Sales & Marketing
8.5.2. Operations & Supply Chain
8.5.3. Finance and Accounting
8.5.4. Human Resources (HR)
8.5.5. IT Service Management (ITSM)
8.6. By Industry (USD)
8.6.1. BFSI
8.6.2. IT and Telecom
8.6.3. Retail and eCommerce
8.6.4. Education
8.6.5. Healthcare
8.6.6. Media & Entertainment
8.6.7. Automotive
8.6.8. Others
8.7. By Country (USD)
8.7.1. United Kingdom
8.7.2. Germany
8.7.3. France
8.7.4. Italy
8.7.5. Spain
8.7.6. Russia
8.7.7. Benelux
8.7.8. Nordics
8.7.9. Rest of Europe
9. Middle East & Africa Conversational AI Market Size Estimates and Forecasts, By Segments, 2019-2032
9.1. Key Findings
9.2. By Component (USD)
9.2.1. Intelligent Virtual Assistant (IVA)
9.2.2. AI Chatbots
9.3. By Technology (USD)
9.3.1. Machine Learning (ML) and Deep Learning
9.3.2. Natural Language Processing (NLP)
9.3.3. Automatic Speech Recognition (ASR)
9.3.4. Others
9.4. By Deployment (USD)
9.4.1. On-premises
9.4.2. Cloud
9.5. By Business Function (USD)
9.5.1. Sales & Marketing
9.5.2. Operations & Supply Chain
9.5.3. Finance and Accounting
9.5.4. Human Resources (HR)
9.5.5. IT Service Management (ITSM)
9.6. By Industry (USD)
9.6.1. BFSI
9.6.2. IT and Telecom
9.6.3. Retail and eCommerce
9.6.4. Education
9.6.5. Healthcare
9.6.6. Media & Entertainment
9.6.7. Automotive
9.6.8. Others
9.7. By Country (USD)
9.7.1. Turkey
9.7.2. Israel
9.7.3. GCC
9.7.4. North Africa
9.7.5. South Africa
9.7.6. Rest of MEA
10. Asia Pacific Conversational AI Market Size Estimates and Forecasts, By Segments, 2019-2032
10.1. Key Findings
10.2. By Component (USD)
10.2.1. Intelligent Virtual Assistant (IVA)
10.2.2. AI Chatbots
10.3. By Technology (USD)
10.3.1. Machine Learning (ML) and Deep Learning
10.3.2. Natural Language Processing (NLP)
10.3.3. Automatic Speech Recognition (ASR)
10.3.4. Others
10.4. By Deployment (USD)
10.4.1. On-premises
10.4.2. Cloud
10.5. By Business Function (USD)
10.5.1. Sales & Marketing
10.5.2. Operations & Supply Chain
10.5.3. Finance and Accounting
10.5.4. Human Resources (HR)
10.5.5. IT Service Management (ITSM)
10.6. By Industry (USD)
10.6.1. BFSI
10.6.2. IT and Telecom
10.6.3. Retail and eCommerce
10.6.4. Education
10.6.5. Healthcare
10.6.6. Media & Entertainment
10.6.7. Automotive
10.6.8. Others
10.7. By Country (USD)
10.7.1. China
10.7.2. India
10.7.3. Japan
10.7.4. South Korea
10.7.5. ASEAN
10.7.6. Oceania
10.7.7. Rest of Asia Pacific
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
11.1. Google LLC
11.1.1. Overview
11.1.1.1. Key Management
11.1.1.2. Headquarters
11.1.1.3. Offerings/Business Segments
11.1.2. Key Details (Key details are consolidated data and not product/service specific)
11.1.2.1. Employee Size
11.1.2.2. Past and Current Revenue
11.1.2.3. Geographical Share
11.1.2.4. Business Segment Share
11.1.2.5. Recent Developments
11.2. Microsoft Corporation
11.2.1. Overview
11.2.1.1. Key Management
11.2.1.2. Headquarters
11.2.1.3. Offerings/Business Segments
11.2.2. Key Details (Key details are consolidated data and not product/service specific)
11.2.2.1. Employee Size
11.2.2.2. Past and Current Revenue
11.2.2.3. Geographical Share
11.2.2.4. Business Segment Share
11.2.2.5. Recent Developments
11.3. Amazon Web Services, Inc.
11.3.1. Overview
11.3.1.1. Key Management
11.3.1.2. Headquarters
11.3.1.3. Offerings/Business Segments
11.3.2. Key Details (Key details are consolidated data and not product/service specific)
11.3.2.1. Employee Size
11.3.2.2. Past and Current Revenue
11.3.2.3. Geographical Share
11.3.2.4. Business Segment Share
11.3.2.5. Recent Developments
11.3.2.6. Developments
11.4. IBM Corporation
11.4.1. Overview
11.4.1.1. Key Management
11.4.1.2. Headquarters
11.4.1.3. Offerings/Business Segments
11.4.2. Key Details (Key details are consolidated data and not product/service specific)
11.4.2.1. Employee Size
11.4.2.2. Past and Current Revenue
11.4.2.3. Geographical Share
11.4.2.4. Business Segment Share
11.4.2.5. Recent Developments
11.5. Oracle Corporation
11.5.1. Overview
11.5.1.1. Key Management
11.5.1.2. Headquarters
11.5.1.3. Offerings/Business Segments
11.5.2. Key Details (Key details are consolidated data and not product/service specific)
11.5.2.1. Employee Size
11.5.2.2. Past and Current Revenue
11.5.2.3. Geographical Share
11.5.2.4. Business Segment Share
11.5.2.5. Recent Developments
11.6. Cognigy
11.6.1. Overview
11.6.1.1. Key Management
11.6.1.2. Headquarters
11.6.1.3. Offerings/Business Segments
11.6.2. Key Details (Key details are consolidated data and not product/service specific)
11.6.2.1. Employee Size
11.6.2.2. Past and Current Revenue
11.6.2.3. Geographical Share
11.6.2.4. Business Segment Share
11.6.2.5. Recent Developments
11.7. Amelia US LLC
11.7.1. Overview
11.7.1.1. Key Management
11.7.1.2. Headquarters
11.7.1.3. Offerings/Business Segments
11.7.2. Key Details (Key details are consolidated data and not product/service specific)
11.7.2.1. Employee Size
11.7.2.2. Past and Current Revenue
11.7.2.3. Geographical Share
11.7.2.4. Business Segment Share
11.7.2.5. Recent Developments
11.8. Avaamo
11.8.1. Overview
11.8.1.1. Key Management
11.8.1.2. Headquarters
11.8.1.3. Offerings/Business Segments
11.8.2. Key Details (Key details are consolidated data and not product/service specific)
11.8.2.1. Employee Size
11.8.2.2. Past and Current Revenue
11.8.2.3. Geographical Share
11.8.2.4. Business Segment Share
11.8.2.5. Recent Developments
11.9. Omilia Natural Language Solutions Ltd.
11.9.1. Overview
11.9.1.1. Key Management
11.9.1.2. Headquarters
11.9.1.3. Offerings/Business Segments
11.9.2. Key Details (Key details are consolidated data and not product/service specific)
11.9.2.1. Employee Size
11.9.2.2. Past and Current Revenue
11.9.2.3. Geographical Share
11.9.2.4. Business Segment Share
11.9.2.5. Recent Developments
11.10. Kore.ai Inc.
11.10.1. Overview
11.10.1.1. Key Management
11.10.1.2. Headquarters
11.10.1.3. Offerings/Business Segments
11.10.2. Key Details (Key details are consolidated data and not product/service specific)
11.10.2.1. Employee Size
11.10.2.2. Past and Current Revenue
11.10.2.3. Geographical Share
11.10.2.4. Business Segment Share
11.10.2.5. Recent Developments
12. Key Takeaways

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us