Conversational AI Market, By Component, By Type, By Deployment, By Enterprise Size, By End-use Industry, By Geography

Description

The conversational AI market is estimated to be valued at USD 10.65 Bn in 2024 and is expected to reach USD 44.38 Bn by 2031, growing at a compound annual growth rate (CAGR) of 22.6% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2023/2024:	US$ 10.65 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2023/2024 to 2030/2031 CAGR:	22.60%	2030/2031 Value Projection:	US$ 44.38 Bn

Conversational AI Market Share (%), By Region, 2024

Conversational AI is the integration of artificial intelligence and natural language processing technologies to enable engaging dialogue between machines and humans. By understanding human speech and responding appropriately through text or speech, conversational AI aims to make interactions with technology more natural and intuitive. As users demand more engaging digital experiences, companies across industries are exploring ways to deploy conversational interfaces through messaging platforms, voice assistants, chatbots, and other applications. Advancing capabilities in areas, such as machine translation, semantic parsing, and dialogue management, are expanding the scope of tasks that conversational AI systems can perform and are driving broader adoption.

Market Dynamics:

The global conversational AI market is driven by the growing demand for enhanced customer support and experience. As consumers expect seamless engagement with brands across different channels, companies are leveraging conversational AI to offer engagement options like voice assistants, messaging bots, and virtual agents. Additionally, the increasing deployment of AI voice assistants in smart home devices, smartphones, and IoT applications is supplementing the market growth. However, limited AI capabilities for complex conversational tasks and data privacy concerns pose significant challenges for widespread adoption. On the other hand, the market presents opportunities for vendors to improve AI technologies for more human-like interactions and incorporate advanced capabilities like semantics, vision, and reasoning. The integration of conversational AI with other technologies such as AR/VR also provides an avenue for new use cases and solutions.

Key features of the study:

This report provides an in-depth analysis of the global conversational AI market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global conversational AI market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Google, Microsoft, Amazon Web Services, Inc., IBM, Oracle, Nuance Communications, Inc., FIS, SAP SE, Artificial Solutions, Kore.ai, Inc., Avaamo, Conversica, Inc., Jio Haptik Technologies Ltd., Rasa Technologies Inc., Solvvy, Pypestream Inc., Kasisto, Cognigy, MindMeld, and Creative Virtual.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global conversational AI market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global conversational AI market.

Market Segmentation:

By Component
- Solutions
- Services
- Managed Services
- Professional Services
- Training & Consulting
- System Integration & Implementation
- Support & Maintenance
By Type
- Chatbots
- Intelligent Virtual Assistant (IVA)
By Deployment
- On-premises
- Cloud
By Enterprise Size
- SMEs
- Large Enterprise
By End-use Industry
- BFSI
- Healthcare
- IT & Telecom
- Retail & E-commerce
- Education
- Media & Entertainment
- Automotive
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Key Players
- Google
- Microsoft
- Amazon Web Services, Inc.
- IBM
- Oracle
- Nuance Communications, Inc.
- FIS
- SAP SE
- Artificial Solutions
- Kore.ai, Inc.
- Avaamo
- Conversica, Inc.
- Jio Haptik Technologies Ltd.
- Rasa Technologies Inc.
- Solvvy
- Pypestream Inc.
- Kasisto
- Cognigy
- MindMeld
- Creative Virtual

Product Code: CMI6708

1. Research Objectives and Assumptions

Research Objectives
Assumptions

2. Market Overview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snapshot, By Component
- Market Snapshot, By Type
- Market Snapshot, Deployment
- Market Snapshot, By Enterprise Size
- Market Snapshot, End-use Industry
- Market Snapshot, By Region
- Market Scenario - Conservative, Likely, Opportunistic
Market Opportunity Map

3. Market Dynamics and Trend Analysis

Market Dynamics
- Drivers
- Restraints
- Opportunities
Impact Analysis
Pest Analysis
Porters Analysis
Regulatory Scenario
COVID-19 Impact Analysis
New product approvals
Market Attractiveness, By Country
Market Attractiveness, By Market Segment
Key Developments & Deals
Technology Trends
Trend Analysis - Historic and Future Trend Assessment
Key Developments

4. Global Conversational AI Market, By Component, 2019 - 2031 (US$ Billion)

Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031
- Market Y-o-Y Growth Comparison (%), 2019 - 2031
- Segment Trends
Solutions, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Services, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Managed Services, 2019 - 2031(US$ Billion)
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Professional Services, 2019 - 2031(US$ Billion)
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Training & Consulting
System Integration & Implementation
Support & Maintenance

5. Global Conversational AI Market, By Type, 2019 - 2031 (US$ Billion)

Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031
- Market Y-o-Y Growth Comparison (%), 2019 - 2031
- Segment Trends
Chatbots, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Intelligent Virtual Assistant (IVA), 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)

6. Global Conversational AI Market, Deployment, 2019 - 2031 (US$ Billion)

Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031
- Market Y-o-Y Growth Comparison (%), 2019 - 2031
- Segment Trends
On-premises, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Cloud, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)

7. Global Conversational AI Market, By Enterprise Size, 2019 - 2031 (US$ Billion)

Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031
- Market Y-o-Y Growth Comparison (%), 2019 - 2031
- Segment Trends
SMEs, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Large Enterprise, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)

8. Global Conversational AI Market, End-use Industry, 2019 - 2031 (US$ Billion)

Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031
- Market Y-o-Y Growth Comparison (%), 2019 - 2031
- Segment Trends
BFSI, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Healthcare, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
IT & Telecom, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Retail & E-commerce, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Education, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Media & Entertainment, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Automotive, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
Others, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)

9. Global Conversational AI Market, By Region, 2019 - 2031 (US$ Billion)

Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031, (US$ Billion)
- Market Y-o-Y Growth Comparison (%), 2024 - 2031, (US$ Billion)
- Regional Trends
North America
- Introduction
- Market Size and Forecast, By Component, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Type, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, Deployment, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Enterprise Size, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, End-use Industry, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Billion)
U.S.
Canada
Europe
- Introduction
- Market Size and Forecast, By Component, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Type, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, Deployment, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Enterprise Size, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, End-use Industry, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Billion)
U.K.
Germany
Italy
France
Spain
Russia
Rest Of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Component, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Type, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, Deployment, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Enterprise Size, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, End-use Industry, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Billion)
China
India
Japan
Australia
South Korea
Asean
Rest Of Asia Pacific
Middle East & Africa
- Introduction
- Market Size and Forecast, By Component, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Type, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, Deployment, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Enterprise Size, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, End-use Industry, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Billion)
GCC
Israel
South Africa
Rest of Middle East & Africa
Latin America
- Introduction
- Market Size and Forecast, By Component, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Type, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, Deployment, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Enterprise Size, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, End-use Industry, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Billion)
Brazil
Mexico
Argentina
Rest of Latin America

10. Company Profiles - Global Conversational AI Market

Google
- Company Overview
- Product/Service Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategic Overview
Microsoft
Amazon Web Services, Inc.
IBM
Oracle
Nuance Communications, Inc.
FIS
SAP SE
Artificial Solutions
Kore.ai, Inc.
Avaamo
Conversica, Inc.
Jio Haptik Technologies Ltd.
Rasa Technologies Inc.
Solvvy
Pypestream Inc.
Kasisto
Cognigy
MindMeld
Creative Virtual

11. References and Research Methodology

References
Research Methodology
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