Conversational AI Market size is expected to grow by 21.5% from 2024 to 2030, as per Maximize Market Research.

(IT-NEWSWIRE.COM, August 28, 2024 ) The Conversational AI Market size was valued at USD 10.61 Bn. in 2023 and the total Conversational AI revenue is expected to grow by 21.5% from 2024 to 2030, reaching nearly USD 41.50 Bn.

In 2023, North America led with over 35% of the revenue share, driven by the adoption of advanced technologies and growing demand for AI-powered customer support services. Significant investments by large corporations in technology also contribute to this growth. The Asia Pacific region is projected to grow rapidly, driven by increased awareness of new customer support services and technology innovations.

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Conversational AI Market Segmentation

by Component

Solutions

Services

Professional Services

by Type

Chatbots

Intelligent Virtual Assistants (IVA)

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by Deployment Mode

Cloud

On-premises

by Technology

ML and Deep Learning

Natural Language Processing (NLP)

Automatic Speech Recognition (ASR)

by Vertical

Banking Finance Services and Insurance (BFSI)

Healthcare and Life Sciences

IT and Telecom

Retail and eCommerce

Travel and Hospitality

Media and Entertainment

Automotive

Others (government, education, energy and utilities, and manufacturing)

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Conversational AI Market Key Players:

Google

Microsoft

Amazon Web Services, Inc.

IBM

Oracle

Nuance Communications, Inc

Maximize Market Research is leading Information Technology & Telecommunication research firm, has also published the following reports:

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Conversational AI Market size is expected to grow by 21.5% from 2024 to 2030, as per Maximize Market Research.