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(Wireless-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
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