Product Code: TC 6976
The conversational AI market is projected to grow from USD 17.05 billion in 2025 to USD 49.80 billion by 2031 at a compound annual growth rate (CAGR) of 19.6% during the forecast period. Advances in Natural Language Processing (NLP) and Machine Learning (ML) have made AI systems more adept at understanding and responding in human-like ways, leading to improved user experiences. Businesses are increasingly adopting conversational AI to meet rising customer expectations for instant, personalized, and 24/7 support. This automation helps reduce operational costs, enhance efficiency, and handle high volumes of inquiries, particularly in sectors like customer service, retail, and healthcare. The integration with emerging technologies like generative AI and voice assistants further expands its capabilities and applications.
Scope of the Report |
Years Considered for the Study | 2020-2031 |
Base Year | 2024 |
Forecast Period | 2025-2031 |
Units Considered | USD (Billion) |
Segments | Offering, Product Type, Business Function, Integration Type, and End User |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
"Sales & marketing business function to hold the largest market share during the forecast period"
The sales & marketing business function is expected to hold the largest market share in the conversational AI market during the forecast period due to its critical role in driving customer engagement and revenue. Businesses are increasingly using conversational AI tools like chatbots and virtual assistants to automate customer interactions, generate leads, personalize campaigns, and support buyers throughout the sales journey. These tools improve efficiency, provide real-time responses, and enhance customer experiences, leading to higher conversion rates. As companies seek to gain a competitive advantage and optimize marketing ROI, the demand for intelligent, conversational solutions continues to grow. This strong alignment between conversational AI capabilities and sales and marketing goals positions this business function as the leading adopter in the evolving AI landscape.
"By product type, AI chatbots to hold the largest market share during the forecast period"
During the forecast period, AI chatbots are projected to hold the largest market share in the conversational AI market due to their widespread adoption across industries such as retail, healthcare, banking, and customer service. These chatbots provide instant, automated responses to customer queries, reducing operational costs and enhancing user experience. As businesses increasingly prioritize 24/7 customer engagement and scalable support systems, AI chatbots have emerged as a reliable solution. Their integration with messaging apps and websites further boosts accessibility and convenience. Additionally, advancements in natural language processing and machine learning have significantly improved chatbot intelligence, making them more capable of understanding context and delivering human-like conversations. This continued innovation is expected to drive their dominance in the conversational AI landscape.
"Asia Pacific to witness rapid conversational AI growth fueled by innovation and emerging technologies, while North America leads in market size"
The Asia Pacific region is poised for rapid growth in the conversational AI market, driven by technological innovation, increasing digital transformation, and a rising number of tech-savvy consumers. Countries like China, India, Japan, and South Korea are investing heavily in artificial intelligence, supported by government initiatives, growing startup ecosystems, and the adoption of smart devices. The proliferation of smartphones, social media, and messaging platforms has created fertile ground for conversational AI tools such as chatbots and virtual assistants. Moreover, the region's diverse languages and cultures are encouraging the development of multilingual AI systems, further accelerating adoption. Conversely, North America maintains its lead in market size due to its mature technological infrastructure, early adoption of AI, and the presence of major players like Google, Microsoft, IBM, and AWS. The region benefits from strong R&D investment, robust cloud ecosystems, and high demand across sectors such as banking, healthcare, and e-commerce. Enterprises in North America are focused on enhancing customer experience, automating services, and improving operational efficiency through conversational AI. While North America dominates in terms of revenue and innovation hubs, Asia Pacific's growth trajectory signals a potential shift in global dynamics as emerging economies harness AI to bridge digital divides and gain a competitive edge.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the conversational AI market.
- By Company: Tier I - 34%, Tier II - 43%, and Tier III - 23%
- By Designation: C Level - 28%, Director Level - 50%, and others - 22%
- By Region: North America - 30%, Europe - 35%, Asia Pacific - 20%, Middle East & Africa - 10%, and Latin America - 5%
The report includes the study of key players offering conversational AI solutions and services. It profiles major vendors in the conversational AI market. The major players in the conversational AI market include Microsoft (US), IBM (US), Google (US), OpenAI (US), Baidu (China), AWS (US), Oracle (US), SAP (Germany), Verint (US), Twilio (US), Sprinklr (US), LivePerson (US), [24]7.ai (US), GupShup (US), Yellow.ai (US), Anthropic (US), Kore.AI (US), Uniphore (US), eGain (US), SoundHound AI (US), Gridspace (US), Avaamo (US), Conversica (US), Inbenta (US), Creative Virtual (UK), Kasisto (US), MindMeld (US), Haptik (India), Teneo.ai (Sweden), Cognigy (Germany), Rasa (US), Sarthi.ai (India), Senseforth.ai (India), Exceed.ai (US), Clinc (US), Laiye (China), Rulai (US), Quiq (US), Pypestream (US), Boost.ai (Norway), Verloop.io (India), OneReach.ai (US), Omilia (Cyprus), and Aisera (US).
Research coverage
This research report covers the conversational AI market, which has been segmented based on offering, business function, integration type, product type, and end user. The offering segment consists of software and services. The software by deployment mode segment is categorized into on-premises and cloud. The services segment is further divided into managed services and professional services. The professional services segment includes consulting & advisory, integration & deployment, support & maintenance, and training & education. The product type segment covers AI chatbots, voice bots, virtual assistants, and generative AI agents. Based on business functions, the conversational AI market is categorized into sales & marketing, finance & accounting, HR, ITSM, and operations & supply chain. The integration type segment is categorized into internal enterprise systems (CRM and knowledge base systems) and external communication channels (mobile apps, IVR systems, messaging services/platforms, and websites). The end users include individual users and enterprises. Enterprises include BFSI, retail & e-commerce, healthcare & life sciences, technology & software, telecommunications, media & entertainment, travel & hospitality, government & defense, energy & utilities. automotive, transportation & logistics, and other enterprise-level end users (education, construction & real estate, and manufacturing). The regional analysis of the conversational AI market covers North America, Europe, Asia Pacific, the Middle East & Africa (MEA), and Latin America. The report also contains a detailed analysis of investment & funding scenarios, case studies, regulatory landscape, ecosystem analysis, supply chain analysis, pricing analysis, and technology analysis.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall conversational AI market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (increasing integration of AI chatbots in messaging services, omnichannel deployment and reduced chatbot development cost, growing language coverage and accessibility, rising demand to implement AI-powered digital experience across government sector), restraints (data privacy and compliance concerns, infrastructure and latency Constraints), opportunities (integration of computer vision with voice recognition technology to facilitate in-depth and personalized interactions, vertical-specific conversational AI solutions, agentic AI and workflow automation), and challenges (apprehensiveness about disclosing personal or sensitive information, lack of precision in resolving queries).
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product & service launches in the conversational AI market.
- Market Development: Comprehensive information about lucrative markets - the report analyzes the conversational AI market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the conversational AI market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Microsoft (US), IBM (US), Google (US), OpenAI (US), Baidu (China), AWS (US), Oracle (US), SAP (Germany), Verint (US), Twilio (US), Sprinklr (US), LivePerson (US), [24]7.ai (US), GupShup (US), Yellow.ai (US), Anthropic (US), Kore.AI (US), Uniphore (US), eGain (US), SoundHound AI (US), Gridspace (US), Avaamo (US), Conversica (US), Inbenta (US), Creative Virtual (UK), Kasisto (US), MindMeld (US), Haptik (India), Teneo.ai (Sweden), Cognigy (Germany), Rasa (US), Sarthi.ai (India), Senseforth.ai (India), Exceed.ai (US), Clinc (US), Laiye (China), Rulai (US), Quiq (US), Pypestream (US), Boost.ai (Norway), Verloop.io (India), OneReach.ai (US), Omilia (Cyprus), and Aisera (US) in the conversational AI market. The report also helps stakeholders understand the pulse of the conversational AI market and provides them with information on key market drivers, restraints, challenges, and opportunities.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION
- 1.2.1 INCLUSIONS AND EXCLUSIONS
- 1.3 MARKET SCOPE
- 1.3.1 MARKET SEGMENTATION & REGIONS COVERED
- 1.3.2 YEARS CONSIDERED
- 1.4 CURRENCY CONSIDERED
- 1.5 STAKEHOLDERS
- 1.6 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.2 PRIMARY DATA
- 2.1.2.1 Breakup of primary profiles
- 2.1.2.2 Key insights from industry experts
- 2.2 MARKET BREAKUP AND DATA TRIANGULATION
- 2.3 MARKET SIZE ESTIMATION
- 2.3.1 TOP-DOWN APPROACH
- 2.3.2 BOTTOM-UP APPROACH
- 2.4 MARKET FORECAST
- 2.5 RESEARCH ASSUMPTIONS
- 2.6 LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN CONVERSATIONAL AI MARKET
- 4.2 CONVERSATIONAL AI MARKET: TOP THREE BUSINESS FUNCTIONS
- 4.3 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY PRODUCT TYPE AND BUSINESS FUNCTION
- 4.4 CONVERSATIONAL AI MARKET, BY REGION
5 MARKET OVERVIEW AND INDUSTRY TRENDS
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Increasing integration of AI chatbots in messaging services
- 5.2.1.2 Omnichannel deployment and reduced chatbot development cost
- 5.2.1.3 Growing language coverage and accessibility
- 5.2.1.4 Rising demand to implement AI-powered digital experience across government sector
- 5.2.2 RESTRAINTS
- 5.2.2.1 Infrastructure and latency constraints
- 5.2.2.2 Data privacy and compliance concerns
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Integration of computer vision with voice recognition technology to facilitate in-depth and personalized interactions
- 5.2.3.2 Vertical-specific conversational AI solutions
- 5.2.3.3 Agentic AI and workflow automation
- 5.2.4 CHALLENGES
- 5.2.4.1 Apprehensiveness about disclosing personal or sensitive information
- 5.2.4.2 Lack of precision in resolving queries
- 5.3 IMPACT OF 2025 US TARIFF - CONVERSATIONAL AI MARKET
- 5.3.1 INTRODUCTION
- 5.3.2 KEY TARIFF RATES
- 5.3.3 PRICE IMPACT ANALYSIS
- 5.3.3.1 Strategic Shifts and Emerging Trends
- 5.3.4 IMPACT ON COUNTRY/REGION
- 5.3.4.1 US
- 5.3.4.2 Strategic Shifts and Key Observations
- 5.3.4.3 Europe
- 5.3.4.4 Strategic Shifts and Key Observations
- 5.3.4.5 China
- 5.3.4.6 Strategic Shifts and Key Observations
- 5.3.5 IMPACT ON END-USE INDUSTRIES
- 5.3.5.1 Retail and E-commerce
- 5.3.5.2 Healthcare & life sciences
- 5.3.5.3 Telecommunications
- 5.3.5.4 Healthcare
- 5.3.5.5 BFSI
- 5.4 EVOLUTION OF CONVERSATIONAL AI MARKET
- 5.5 CONVERSATIONAL AI MARKET ARCHITECTURE
- 5.6 SUPPLY CHAIN ANALYSIS
- 5.7 ECOSYSTEM ANALYSIS
- 5.7.1 AI CHATBOTS
- 5.7.2 VOICE BOTS
- 5.7.3 VIRTUAL AGENT
- 5.7.4 GENERATIVE AI AGENTS
- 5.8 INVESTMENT LANDSCAPE AND FUNDING SCENARIO
- 5.9 CASE STUDY ANALYSIS
- 5.9.1 HUMANA REDUCED COSTLY PRE-SERVICE CALLS AND IMPROVED CUSTOMER EXPERIENCE WITH IBM WATSONX
- 5.9.2 CITY OF JOHNS CREEK AUTOMATED 24/7 CONTACT CENTER AND REDUCED AFTER-HOURS VOICEMAILS WITH AMAZON LEX
- 5.9.3 JIO PARTNERED WITH HAPTIK TO DEVELOP WHATSAPP CHATBOT TO DELIVER SWIFT RESPONSES TO CUSTOMER QUERIES AND ENHANCE CUSTOMER EXPERIENCE
- 5.9.4 CHIME FINANCIAL USED TWILIO PROGRAMMABLE MESSAGING AND TWILIO STUDIO TO DELIVER PERSONALIZED SUPPORT EXPERIENCE
- 5.9.5 LEADING US SATELLITE TV PROVIDER RESOLVED 60% OF CUSTOMER QUERIES BY DEPLOYING [24]7 ENGAGEMENT CLOUD PLATFORM
- 5.10 TECHNOLOGY ANALYSIS
- 5.10.1 KEY TECHNOLOGIES
- 5.10.1.1 AI/ML
- 5.10.1.2 NLP & deep learning
- 5.10.1.3 Speech recognition
- 5.10.2 COMPLEMENTARY TECHNOLOGIES
- 5.10.2.1 Data analytics
- 5.10.2.2 Cloud computing
- 5.10.3 ADJACENT TECHNOLOGIES
- 5.10.3.1 AR/VR
- 5.10.3.2 IoT
- 5.10.3.3 Blockchain
- 5.10.3.4 Edge computing
- 5.10.3.5 Voice biometrics
- 5.11 REGULATORY LANDSCAPE
- 5.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- 5.11.2 REGULATORY FRAMEWORK
- 5.11.2.1 North America
- 5.11.2.1.1 General Data Protection Regulation (GDPR)
- 5.11.2.1.2 California Consumer Privacy Act (CCPA)
- 5.11.2.1.3 Health Insurance Portability and Accountability Act (HIPAA)
- 5.11.2.2 Europe
- 5.11.2.2.1 General Data Protection Regulation (GDPR)
- 5.11.2.2.2 Audiovisual Media Services Directive (AVMSD)
- 5.11.2.2.3 ePrivacy directive
- 5.11.2.3 Asia Pacific
- 5.11.2.3.1 Act on Protection of Personal Information (APPI)
- 5.11.2.3.2 Telecommunications business law
- 5.11.2.4 Middle East & Africa
- 5.11.2.4.1 Consumer protection regulations
- 5.11.2.5 Latin America
- 5.11.2.5.1 Telecommunications laws
- 5.12 PATENT ANALYSIS
- 5.12.1 METHODOLOGY
- 5.12.2 PATENTS FILED, BY DOCUMENT TYPE
- 5.12.3 INNOVATION AND PATENT APPLICATIONS
- 5.13 PRICING ANALYSIS
- 5.13.1 AVERAGE SELLING PRICE OF OFFERING, BY PRODUCT TYPE, 2025
- 5.13.2 AVERAGE SELLING PRICE, BY BUSINESS FUNCTION, 2025
- 5.14 KEY CONFERENCES AND EVENTS (2025-2026)
- 5.15 PORTER'S FIVE FORCES ANALYSIS
- 5.15.1 THREAT OF NEW ENTRANTS
- 5.15.2 THREAT OF SUBSTITUTES
- 5.15.3 BARGAINING POWER OF SUPPLIERS
- 5.15.4 BARGAINING POWER OF BUYERS
- 5.15.5 INTENSITY OF COMPETITIVE RIVALRY
- 5.16 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS' BUSINESSES
- 5.16.1 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS' BUSINESSES
- 5.17 KEY STAKEHOLDERS & BUYING CRITERIA
- 5.17.1 KEY STAKEHOLDERS IN BUYING PROCESS
- 5.17.2 BUYING CRITERIA
- 5.18 CONVERSATIONAL AI BUSINESS MODELS
- 5.18.1 SUBSCRIPTION-BASED MODEL
- 5.18.2 PAY-PER-USE MODEL
- 5.18.3 LICENSING AND PERPETUAL SOFTWARE MODEL
- 5.18.4 CUSTOM DEVELOPMENT AND CONSULTATION MODEL
- 5.18.5 TRANSACTIONAL MODEL
- 5.18.6 PARTNERSHIP AND REVENUE SHARING MODEL
- 5.19 CONVERSATIONAL AI MARKET: BEST PRACTICES
- 5.19.1 DESIGN AND USER EXPERIENCE
- 5.19.2 TRAINING AND OPTIMIZATION
- 5.19.3 SECURITY AND COMPLIANCE
- 5.19.4 INTEGRATION AND SCALABILITY
6 CONVERSATIONAL AI MARKET, BY OFFERING
- 6.1 INTRODUCTION
- 6.1.1 OFFERING: CONVERSATIONAL AI MARKET DRIVERS
- 6.2 SOFTWARE
- 6.2.1 BY DEPLOYMENT MODE
- 6.2.1.1 Cloud
- 6.2.1.1.1 Need for scalability, flexibility, and cost-effectiveness to fuel demand for cloud deployment of conversational AI
- 6.2.1.2 On-premises
- 6.2.1.2.1 On-premises deployment to help enterprises seek maximum control, security, and compliance over conversational AI deployments
- 6.3 SERVICES
- 6.3.1 PROFESSIONAL SERVICES
- 6.3.1.1 Consulting & advisory
- 6.3.1.1.1 Increasing demand for personalized customer experience and efficient business operations to spur market growth
- 6.3.1.2 Integration & deployment
- 6.3.1.2.1 Integration and deployment services to facilitate seamless incorporation and efficient utilization of AI-powered chatbots and virtual assistants
- 6.3.1.3 Support & maintenance
- 6.3.1.3.1 Support & maintenance services to ensure smooth functioning and optimization of AI-powered chatbots and virtual assistants
- 6.3.1.4 Training & education
- 6.3.1.4.1 Training and education services to impart expertise in developing, implementing, and managing conversational interfaces
- 6.3.2 MANAGED SERVICES
7 CONVERSATIONAL AI MARKET, BY PRODUCT TYPE
- 7.1 INTRODUCTION
- 7.1.1 PRODUCT TYPE: CONVERSATIONAL AI MARKET DRIVERS
- 7.2 AI CHATBOTS
- 7.2.1 AI CHATBOTS TO ENHANCE CUSTOMER ENGAGEMENT AND DRIVE SALES
- 7.3 VOICE BOTS
- 7.3.1 VOICE BOTS TO IMPROVE SELF-SERVE RATES, HANDLE COMPLEX SCENARIOS FASTER, AND REDUCE NEED FOR HUMAN AGENTS
- 7.4 VIRTUAL ASSISTANTS
- 7.4.1 GROWING ROLE OF VIRTUAL ASSISTANTS IN ENHANCING PRODUCTIVITY AND USER EXPERIENCE
- 7.5 GENERATIVE AI AGENTS
- 7.5.1 TRANSFORMING CONVERSATIONS WITH GENERATIVE AI AGENTS IN CONVERSATIONAL AI MARKET
8 CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION
- 8.1 INTRODUCTION
- 8.1.1 BUSINESS FUNCTION: CONVERSATIONAL AI MARKET DRIVERS
- 8.2 SALES & MARKETING
- 8.2.1 CONTACT CENTER AUTOMATION
- 8.2.1.1 Businesses integrating AI-powered chatbots and voice assistants into their operations revolutionizing customer interactions
- 8.2.2 BRANDING & ADVERTISEMENT
- 8.2.2.1 Enhancing sales and marketing through conversational AI in branding and advertisement
- 8.2.3 CAMPAIGN MANAGEMENT
- 8.2.3.1 Revolutionizing sales and marketing campaigns with conversational AI for personalized engagement and precision targeting
- 8.2.4 CUSTOMER ENGAGEMENT & RETENTION
- 8.2.4.1 Elevating customer engagement and retention through conversational AI-powered real-time interactions and automation
- 8.2.5 OTHERS
- 8.3 OPERATIONS & SUPPLY CHAIN
- 8.3.1 WORKFLOW OPTIMIZATION
- 8.3.1.1 Streamlining operations and supply chains through conversational AI-powered workflow optimization
- 8.3.2 SCHEDULING & ROUTING
- 8.3.2.1 Optimizing logistics and deliveries with conversational AI for intelligent scheduling and routing
- 8.3.3 INVENTORY MANAGEMENT
- 8.3.3.1 Enhancing inventory control and efficiency with conversational AI-driven management systems
- 8.3.4 VENDOR MANAGEMENT
- 8.3.4.1 Transforming vendor relationships and efficiency through conversational AI-powered management
- 8.3.5 TASK & PROJECT MANAGEMENT ASSISTANCE
- 8.3.5.1 Optimizing supply chain efficiency with conversational AI-driven project management
- 8.3.6 OTHERS
- 8.4 FINANCE & ACCOUNTING
- 8.4.1 VIRTUAL FINANCIAL ADVISORS
- 8.4.1.1 Revolutionizing financial services with AI-powered virtual advisory and personalized assistance
- 8.4.2 EXPENSE TRACKING & REPORTING
- 8.4.2.1 Automating and streamlining expense management with conversational AI for enhanced efficiency
- 8.4.3 DATA PRIVACY & COMPLIANCE MANAGEMENT
- 8.4.3.1 Strengthening data protection and ensuring regulatory compliance through conversational AI solutions
- 8.4.4 AUTOMATED INVOICE PROCESSING
- 8.4.4.1 Streamlining invoice workflows and enhancing accuracy with conversational AI-powered automation
- 8.4.5 OTHERS
- 8.5 HUMAN RESOURCES (HR)
- 8.5.1 EMPLOYEE ENGAGEMENT & ONBOARDING
- 8.5.1.1 Boosting employee engagement and streamlining onboarding with conversational AI solutions
- 8.5.2 PERFORMANCE MANAGEMENT
- 8.5.2.1 Enhancing HR operations and driving employee development through conversational AI in performance management
- 8.5.3 DOCUMENT MANAGEMENT
- 8.5.3.1 Optimizing HR document workflows and accessibility with conversational AI-powered management
- 8.5.4 RECRUITMENT ASSISTANTS & SCREENING
- 8.5.4.1 Revolutionizing HR recruitment with conversational AI for streamlined screening and enhanced candidate experience
- 8.5.5 OTHERS
- 8.6 ITSM
- 8.6.1 INCIDENT MANAGEMENT
- 8.6.1.1 Automating and enhancing incident resolution with conversational AI for improved user experience
- 8.6.2 COST OPTIMIZATION
- 8.6.2.1 Reducing operational costs and boosting productivity with conversational AI-powered automation
- 8.6.3 QUERY HANDLING
- 8.6.3.1 Improving user support and information access through intelligent conversational AI query handling
- 8.6.4 KNOWLEDGE MANAGEMENT
- 8.6.4.1 Streamlining information access and enhancing support efficiency with conversational AI-driven knowledge management
- 8.6.5 OTHERS
9 CONVERSATIONAL AI MARKET, BY INTEGRATION TYPE
- 9.1 INTRODUCTION
- 9.1.1 INTEGRATION TYPE: CONVERSATIONAL AI MARKET DRIVERS
- 9.2 INTERNAL ENTERPRISE SYSTEMS
- 9.2.1 CRM
- 9.2.1.1 Unlocking smarter customer engagement through conversational AI and CRM integration
- 9.2.2 KNOWLEDGE BASE SYSTEMS
- 9.2.2.1 Empowering enterprise intelligence with conversational AI and knowledge-based system integration
- 9.3 EXTERNAL COMMUNICATION CHANNELS
- 9.3.1 MOBILE APPS
- 9.3.1.1 Enhancing user engagement with conversational AI integration in mobile apps
- 9.3.2 IVR SYSTEMS
- 9.3.2.1 Revolutionizing customer support with AI-enhanced interactive voice response (IVR) systems
- 9.3.3 MESSAGING SERVICES/PLATFORMS
- 9.3.3.1 Optimizing customer communication with conversational AI integration in messaging platforms
- 9.3.4 WEBSITES
- 9.3.4.1 Enhancing customer experience with AI-driven chatbot integration on websites
10 CONVERSATIONAL AI MARKET, BY END USER
- 10.1 INTRODUCTION
- 10.1.1 END USERS: CONVERSATIONAL AI MARKET DRIVERS
- 10.2 INDIVIDUAL USERS
- 10.3 ENTERPRISES
- 10.3.1 BFSI
- 10.3.1.1 Automated customer support
- 10.3.1.1.1 Automated customer service enhances efficiency and accessibility
- 10.3.1.2 Conversational banking
- 10.3.1.2.1 Conversational banking transforms customer interactions and streamlines operations
- 10.3.1.3 Portfolio management
- 10.3.1.3.1 Strategic portfolio management leveraging AI and data
- 10.3.1.4 Investment advisory bots
- 10.3.1.4.1 AI-driven investment advisory for personalized financial guidance
- 10.3.1.5 Others
- 10.3.2 RETAIL & E-COMMERCE
- 10.3.2.1 Voice commerce
- 10.3.2.1.1 Revolutionizing e-commerce with conversational voice technology
- 10.3.2.2 Personalized recommendations
- 10.3.2.2.1 Enhancing retail experiences through AI-powered personalized recommendations
- 10.3.2.3 In-store assistance
- 10.3.2.3.1 Transforming in-store operations with intelligent assistance
- 10.3.2.4 Automated surveys
- 10.3.2.4.1 Revolutionizing feedback collection with AI-powered automated surveys
- 10.3.2.5 Automated order tracking and updates
- 10.3.2.5.1 Streamlining order management through AI-driven tracking and updates
- 10.3.2.6 Others
- 10.3.3 HEALTHCARE & LIFE SCIENCES
- 10.3.3.1 Automated appointment booking
- 10.3.3.1.1 Automating appointment booking for enhanced patient experience
- 10.3.3.2 Patient engagement and follow-up
- 10.3.3.2.1 Improving patient engagement and follow-up with conversational AI
- 10.3.3.3 Self-health management
- 10.3.3.3.1 Empowering self-management in healthcare through AI interactions
- 10.3.3.4 Symptom assessment and triage management
- 10.3.3.4.1 AI-driven symptom assessment and triage for efficient healthcare management
- 10.3.3.5 Others
- 10.3.4 TECHNOLOGY & SOFTWARE
- 10.3.4.1 IT helpdesk support and troubleshooting
- 10.3.4.1.1 Enhancing IT operations with AI-powered helpdesk support
- 10.3.4.2 Software and application support
- 10.3.4.2.1 Transforming software support with intelligent conversational assistance
- 10.3.4.3 Project management and task tracking
- 10.3.4.3.1 Revolutionizing project management and task tracking with AI
- 10.3.4.4 Virtual IT procurement assistants
- 10.3.4.4.1 Streamlining IT procurement with intelligent virtual assistants
- 10.3.4.5 Others
- 10.3.5 TELECOMMUNICATIONS
- 10.3.5.1 Customer support
- 10.3.5.1.1 Transforming telecom customer support with AI-powered virtual agents
- 10.3.5.2 Sales & upselling assistants
- 10.3.5.2.1 Leveraging AI as sales and upselling assistants in telecommunications
- 10.3.5.3 Technical support automation
- 10.3.5.3.1 Streamlining telecom technical support through AI automation
- 10.3.5.4 Customer onboarding & KYC
- 10.3.5.4.1 Simplifying telecom customer onboarding and KYC with conversational AI
- 10.3.5.5 Others
- 10.3.6 MEDIA & ENTERTAINMENT
- 10.3.6.1 Content personalization
- 10.3.6.1.1 Enhancing media experiences through AI-driven content personalization
- 10.3.6.2 Immersive conversational gaming
- 10.3.6.2.1 Creating engaging interactive experiences with immersive conversational gaming
- 10.3.6.3 Advertising & promotions
- 10.3.6.3.1 Reshaping media advertising with AI-powered personalized campaigns
- 10.3.6.4 Content localization and translation
- 10.3.6.4.1 Streamlining global media reach with AI-powered content localization and translation
- 10.3.6.5 Others
- 10.3.7 TRAVEL & HOSPITALITY
- 10.3.7.1 Virtual travel assistance
- 10.3.7.1.1 Elevating travel experiences with AI-powered virtual assistance
- 10.3.7.2 Personalized travel planning
- 10.3.7.2.1 Revolutionizing trip planning with AI-driven personalized recommendations
- 10.3.7.3 Conversational check-ins
- 10.3.7.3.1 Enhancing team collaboration with conversational check-ins
- 10.3.7.4 Others
- 10.3.8 GOVERNMENT & DEFENSE
- 10.3.8.1 E-governance services
- 10.3.8.1.1 Enhancing public services through AI-powered e-governance
- 10.3.8.2 Public safety information dissemination
- 10.3.8.2.1 Improving public safety with conversational AI-driven information dissemination
- 10.3.8.3 Virtual training assistants
- 10.3.8.3.1 Revolutionizing training with conversational AI-powered virtual assistants
- 10.3.8.4 Others
- 10.3.9 ENERGY & UTILITIES
- 10.3.9.1 Customer service & engagement
- 10.3.9.1.1 Redefining energy customer engagement with conversational AI
- 10.3.9.2 Operations & infrastructure support
- 10.3.9.2.1 Leveraging conversational AI for enhanced energy operations and infrastructure support
- 10.3.9.3 Automated billing and payment assistance
- 10.3.9.3.1 Automating energy billing and payment assistance with conversational AI
- 10.3.9.4 Regulatory, safety & compliance
- 10.3.9.4.1 Ensuring regulatory compliance and safety in energy with conversational AI
- 10.3.9.5 Others
- 10.3.10 AUTOMOTIVE
- 10.3.10.1 Pre-sales & showroom assistance
- 10.3.10.1.1 Enhancing automotive pre-sales and showroom experiences with conversational AI
- 10.3.10.2 In-vehicle assistance
- 10.3.10.2.1 Elevating driving experience with in-vehicle conversational AI assistance
- 10.3.10.3 Post-sales support
- 10.3.10.3.1 Providing comprehensive post-sales automotive support via conversational AI
- 10.3.10.4 Ai-powered navigation and route optimization
- 10.3.10.4.1 Optimizing driving with AI-powered conversational navigation and route planning
- 10.3.10.5 Others
- 10.3.11 TRANSPORTATION & LOGISTICS
- 10.3.11.1 Port & terminal operations support
- 10.3.11.1.1 Enhancing port and terminal efficiency with AI-powered operations support
- 10.3.11.2 Driver support & onboarding bots
- 10.3.11.2.1 Revolutionizing driver management with AI-driven support and onboarding bots
- 10.3.11.3 Warehouse operations assistants
- 10.3.11.3.1 Optimizing warehouse operations with intelligent AI assistants
- 10.3.11.4 Fleet health & maintenance bots
- 10.3.11.4.1 Proactive fleet management with AI-powered health and maintenance bots
- 10.3.11.5 Others
- 10.3.12 OTHER ENTERPRISES
11 CONVERSATIONAL AI MARKET, BY REGION
- 11.1 INTRODUCTION
- 11.2 NORTH AMERICA
- 11.2.1 NORTH AMERICA: CONVERSATIONAL AI MARKET DRIVERS
- 11.2.2 NORTH AMERICA: MACROECONOMIC OUTLOOK
- 11.2.3 US
- 11.2.3.1 Rising need for call centers that provide better customer support services to drive demand for conversational AI solutions
- 11.2.4 CANADA
- 11.2.4.1 Need to elevate client satisfaction, optimize productivity, and stimulate innovation to fuel demand for conversational AI solutions
- 11.3 EUROPE
- 11.3.1 EUROPE: CONVERSATIONAL AI MARKET DRIVERS
- 11.3.2 EUROPE: MACROECONOMIC OUTLOOK
- 11.3.3 UK
- 11.3.3.1 Increasing adoption of AI-powered customer support services and rise in deployment of omnichannel methods to drive market
- 11.3.4 GERMANY
- 11.3.4.1 Conversational AI to enhance customer service, automate processes, and elevate user experience
- 11.3.5 FRANCE
- 11.3.5.1 Focus on developing advanced conversational AI solutions to spur market growth
- 11.3.6 ITALY
- 11.3.6.1 Emphasis on technological advancements, cost-efficiency, and evolving customer expectations
- 11.3.7 SPAIN
- 11.3.7.1 Strong technological ecosystem and focus on research and development in AI to fuel demand for conversational AI solutions
- 11.3.8 REST OF EUROPE
- 11.4 ASIA PACIFIC
- 11.4.1 ASIA PACIFIC: CONVERSATIONAL AI MARKET DRIVERS
- 11.4.2 ASIA PACIFIC: MACROECONOMIC OUTLOOK
- 11.4.3 CHINA
- 11.4.3.1 Integration of conversational AI solutions into operational frameworks to drive market
- 11.4.4 INDIA
- 11.4.4.1 Increasing internet penetration, expanding smartphone usage, and government's 'Digital India' initiative to propel market
- 11.4.5 JAPAN
- 11.4.5.1 Aging population, labor shortage, and government's initiatives to promote AI adoption to accelerate market growth
- 11.4.6 SOUTH KOREA
- 11.4.6.1 Technological innovation, high internet penetration rates, and government initiatives to propel market
- 11.4.7 ASEAN
- 11.4.7.1 Government initiatives to promote digital transformation to foster market growth
- 11.4.8 AUSTRALIA & NEW ZEALAND
- 11.4.8.1 Increasing digitalization, adoption of AI technologies across industries, and demand for personalized customer experience to spur market growth
- 11.4.9 REST OF ASIA PACIFIC
- 11.5 MIDDLE EAST & AFRICA
- 11.5.1 MIDDLE EAST & AFRICA: CONVERSATIONAL AI MARKET DRIVERS
- 11.5.2 MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK
- 11.5.3 UAE
- 11.5.3.1 'UAE Vision 2021,' Dubai's Smart City initiatives, and favorable investment climate to spur market growth
- 11.5.4 KSA
- 11.5.4.1 Increasing adoption of advanced technologies, robust telecommunications infrastructure, and rising internet penetration rates to drive market
- 11.5.5 QATAR
- 11.5.5.1 'Qatar Vision 2030' and other government initiatives, and thriving tourism and hospitality sector to accelerate market growth
- 11.5.6 EGYPT
- 11.5.6.1 Growing demand for personalized customer experience and streamlined business processes to propel market
- 11.5.7 SOUTH AFRICA
- 11.5.7.1 Increasing adoption of advanced technologies, robust telecommunications infrastructure, and rising internet penetration rates to drive market
- 11.5.8 REST OF MIDDLE EAST & AFRICA
- 11.6 LATIN AMERICA
- 11.6.1 LATIN AMERICA: CONVERSATIONAL AI MARKET DRIVERS
- 11.6.2 LATIN AMERICA: MACROECONOMIC OUTLOOK
- 11.6.3 BRAZIL
- 11.6.3.1 Increasing digitalization, rising internet and smartphone penetration, and emergence of multilingual chatbots to boost market growth
- 11.6.4 MEXICO
- 11.6.4.1 Rapidly evolving digital landscape and increasing adoption of AI-driven technologies to boost demand for conversational AI solutions
- 11.6.5 ARGENTINA
- 11.6.5.1 Rising demand for personalized customer experience to drive conversational AI market
- 11.6.6 REST OF LATIN AMERICA
12 COMPETITIVE LANDSCAPE
- 12.1 OVERVIEW
- 12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022-2025
- 12.3 REVENUE ANALYSIS, 2020-2024
- 12.4 MARKET SHARE ANALYSIS, 2024
- 12.4.1 MARKET RANKING ANALYSIS
- 12.5 PRODUCT COMPARATIVE ANALYSIS
- 12.5.1 PRODUCT COMPARATIVE ANALYSIS, BY PROMINENT/ LEADING VENDOR
- 12.5.1.1 Kore.ai (Kore.ai Platform)
- 12.5.1.2 Microsoft (Azure Bot Services + Copilot)
- 12.5.1.3 Google (Dialogflow)
- 12.5.1.4 IBM (Watsonx Assistant)
- 12.5.1.5 AWS (AWS Lex)
- 12.6 COMPANY VALUATION AND FINANCIAL METRICS
- 12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
- 12.7.1 STARS
- 12.7.2 EMERGING LEADERS
- 12.7.3 PERVASIVE PLAYERS
- 12.7.4 PARTICIPANTS
- 12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024
- 12.7.5.1 Company footprint
- 12.7.5.2 Regional footprint
- 12.7.5.3 Product type footprint
- 12.7.5.4 Business function footprint
- 12.7.5.5 End user footprint
- 12.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024
- 12.8.1 PROGRESSIVE COMPANIES
- 12.8.2 RESPONSIVE COMPANIES
- 12.8.3 DYNAMIC COMPANIES
- 12.8.4 STARTING BLOCKS
- 12.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024
- 12.8.5.1 Detailed list of key startups/SMEs
- 12.8.5.2 Competitive benchmarking of key startups/SMEs
- 12.9 COMPETITIVE SCENARIO
- 12.9.1 PRODUCT LAUNCHES AND ENHANCEMENTS
- 12.9.2 DEALS
13 COMPANY PROFILES
- 13.1 INTRODUCTION
- 13.2 KEY PLAYERS
- 13.2.1 MICROSOFT
- 13.2.1.1 Business overview
- 13.2.1.2 Products/Solutions/Services offered
- 13.2.1.3 Recent developments
- 13.2.1.3.1 Product launches & enhancements
- 13.2.1.3.2 Deals
- 13.2.1.4 MnM view
- 13.2.1.4.1 Key strengths
- 13.2.1.4.2 Strategic choices made
- 13.2.1.4.3 Weaknesses and competitive threats
- 13.2.1.5 MnM view
- 13.2.1.5.1 Key strengths
- 13.2.1.5.2 Strategic choices made
- 13.2.1.5.3 Weaknesses and competitive threats
- 13.2.2 IBM
- 13.2.2.1 Business overview
- 13.2.2.2 Products/Solutions/Services offered
- 13.2.2.3 Recent developments
- 13.2.2.3.1 Product launches & enhancements
- 13.2.2.3.2 Deals
- 13.2.2.4 MnM view
- 13.2.2.4.1 Key strengths
- 13.2.2.4.2 Strategic choices made
- 13.2.2.4.3 Weaknesses and competitive threats
- 13.2.3 GOOGLE
- 13.2.3.1 Business overview
- 13.2.3.2 Products/Solutions/Services offered
- 13.2.3.3 Recent developments
- 13.2.3.3.1 Product launches & enhancements
- 13.2.3.3.2 Deals
- 13.2.3.4 MnM view
- 13.2.3.4.1 Key strengths
- 13.2.3.4.2 Strategic choices made
- 13.2.3.4.3 Weaknesses and competitive threats
- 13.2.4 AWS
- 13.2.4.1 Business overview
- 13.2.4.2 Products/Solutions/Services offered
- 13.2.4.3 Recent developments
- 13.2.4.3.1 Product launches & enhancements
- 13.2.4.3.2 Deals
- 13.2.4.4 MnM view
- 13.2.4.4.1 Key strengths
- 13.2.4.4.2 Strategic choices made
- 13.2.4.4.3 Weaknesses and competitive threats
- 13.2.5 KORE.AI
- 13.2.5.1 Business overview
- 13.2.5.2 Products/Solutions/Services offered
- 13.2.5.3 Recent developments
- 13.2.5.3.1 Product launches & enhancements
- 13.2.5.3.2 Deals
- 13.2.5.4 MnM view
- 13.2.5.4.1 Key strengths
- 13.2.5.4.2 Strategic choices made
- 13.2.5.4.3 Weaknesses and competitive threats
- 13.2.6 ORACLE
- 13.2.6.1 Business overview
- 13.2.6.2 Products/Solutions/Services offered
- 13.2.6.3 Recent developments
- 13.2.6.3.1 Product launches & enhancements
- 13.2.6.3.2 Deals
- 13.2.7 OPENAI
- 13.2.7.1 Business overview
- 13.2.7.2 Products/Solutions/Services offered
- 13.2.7.3 Recent developments
- 13.2.7.3.1 Product launches & enhancements
- 13.2.7.3.2 Deals
- 13.2.7.4 MnM view
- 13.2.7.4.1 Key strengths
- 13.2.7.4.2 Strategic choices made
- 13.2.7.4.3 Weaknesses and competitive threats
- 13.2.8 BAIDU
- 13.2.8.1 Business overview
- 13.2.8.2 Products/Solutions/Services offered
- 13.2.8.3 Recent developments
- 13.2.8.3.1 Product launches & enhancements
- 13.2.9 SAP
- 13.2.9.1 Business overview
- 13.2.9.2 Products/Solutions/Services offered
- 13.2.9.3 Recent developments
- 13.2.10 LIVEPERSON
- 13.2.10.1 Business overview
- 13.2.10.2 Products/Solutions/Services offered
- 13.2.10.3 Recent developments
- 13.2.10.3.1 Product launches & enhancements
- 13.2.10.3.2 Deals
- 13.2.11 [24]7.AI
- 13.2.11.1 Business overview
- 13.2.11.2 Products/Solutions/Services offered
- 13.2.11.3 Recent developments
- 13.2.11.3.1 Product launches & enhancements
- 13.2.12 EGAIN
- 13.2.12.1 Business overview
- 13.2.12.2 Products/Solutions/Services offered
- 13.2.12.3 Recent developments
- 13.2.12.3.1 Product launches & enhancements
- 13.2.12.3.2 Deals
- 13.2.13 SOUNDHOUND AI
- 13.2.13.1 Business overview
- 13.2.13.2 Products/Solutions/Services offered
- 13.2.13.3 Recent developments
- 13.2.13.3.1 Product launches & enhancements
- 13.2.13.3.2 Deals
- 13.2.14 VERINT
- 13.2.15 ANTHROPIC
- 13.2.16 SPRINKLR
- 13.2.17 GUPSHUP
- 13.2.18 YELLOW.AI
- 13.2.19 TWILIO
- 13.2.20 UNIPHORE
- 13.3 OTHER PLAYERS
- 13.3.1 TENEO.AI
- 13.3.1.1 Business overview
- 13.3.1.2 Products/Solutions/Services offered
- 13.3.1.3 Recent developments
- 13.3.2 AISERA
- 13.3.3 LAIYE
- 13.3.4 OMILIA
- 13.3.5 INBENTA
- 13.3.6 AVAAMO
- 13.3.7 COGNIGY
- 13.3.8 ONEREACH.AI
- 13.3.9 BOOST.AI
- 13.3.10 HAPTIK
- 13.3.11 CONVERSICA
- 13.3.12 QUIQ
- 13.3.13 RASA
- 13.3.14 PYPESTREAM
- 13.3.15 CREATIVE VIRTUAL
- 13.3.16 SENSEFORTH.AI
- 13.3.17 RULAI
- 13.3.18 VERLOOP.IO
- 13.3.19 KASISTO
- 13.3.20 EXCEED.AI
- 13.3.21 CLINC
- 13.3.22 MINDMELD
- 13.3.23 SAARTHI.AI
- 13.3.24 GRIDSPACE
14 ADJACENT AND RELATED MARKETS
- 14.1 INTRODUCTION
- 14.2 SPEECH ANALYTICS MARKET - GLOBAL FORECAST TO 2029
- 14.2.1 MARKET DEFINITION
- 14.2.2 MARKET OVERVIEW
- 14.2.2.1 Speech analytics market, by offering
- 14.2.2.2 Speech analytics market, by deployment type
- 14.2.2.3 Speech analytics market, by business function
- 14.2.2.4 Speech analytics market, by channel
- 14.2.2.5 Speech analytics market, by vertical
- 14.2.2.6 Speech analytics market, by region
- 14.3 CHATBOT MARKET - GLOBAL FORECAST TO 2028
- 14.3.1 MARKET DEFINITION
- 14.3.2 MARKET OVERVIEW
- 14.3.2.1 Chatbot market, by offering
- 14.3.2.2 Chatbot market, by type
- 14.3.2.3 Chatbot market, by channel integration
- 14.3.2.4 Chatbot market, by bot communication
- 14.3.2.5 Chatbot market, by business function
- 14.3.2.6 Chatbot market, by vertical
- 14.3.2.7 Chatbot market, by region
15 APPENDIX
- 15.1 DISCUSSION GUIDE
- 15.2 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 15.3 CUSTOMIZATION OPTIONS
- 15.4 RELATED REPORTS
- 15.5 AUTHOR DETAILS