NEW YORK, Oct. 20, 2022 /PRNewswire/ -- The global Conversational AI Market size is expected to grow by USD 1.14 bn during 20221-2026, at a CAGR of 21.6% during the forecast period.
The growth in natural language processing (NLP), machine learning (ML), and AI technologies increasing adoption of smartphones, and the increasing demand for AI-powered customer support services is one of the major factors propelling the market growth. However, factors such as Resistance to using chatbots, lack of awareness about emerging technologies, and data privacy concerns. Request Free Sample Report.
One of the major factors propelling the growth of the global conversational AI market is the advancement of natural language processing (NLP), machine learning (ML), and AI technologies. The main variables influencing the demand for conversational AI across a wide range of businesses include improvements in NLP, processing speed, and ML models. AI contributes to less human errors, more accurate analytic models, and the transformation of data collection equipment into effective analytical instruments.
Such technologies can be used to improve customer services during and after a transaction and link businesses and customers. The creation of apps using AI/ML algorithms has been facilitated by improvements in AI methodologies and aims to make it simple for analysts and users to access insightful data. These factors will positively impact the growth of the global conversational AI market during the forecast period.
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The demand for consumer engagement will drive the expansion of the worldwide conversational AI market. The rising need for AI-powered customer support services is a key factor propelling the worldwide conversational AI market. It is getting ever more crucial for businesses to preserve their consumer base and keep acquiring new customers as the market competition gets tighter. Since it is simpler to sell to a current client than to acquire a new one, it is crucial for businesses to offer a positive post-buy experience since this might serve as a lead for the customer's subsequent purchase.
These days, there are more opportunities than ever to provide Internet consumers with useful chatbots and audio software apps thanks to growing investments in AI, NLP, and ML. Such benefits are making various organizations adopt chatbots and other such applications, which will drive the growth of the global conversational AI market during the forecast period. Buy Sample Report.
- Deployment (on-premise and cloud)
- Geography (North America, Europe, APAC, the Middle East and Africa, and South America).
The on-premise segment's market share rise in conversational AI will be strong. The growing demand for security is one of the main factors propelling the segment's expansion. Customers desire total control over the gear and applications they use. As a result, they favor on-premises AI technology over AI infrastructure located in the cloud. The installation of AI infrastructure on-premises is required by many important clients all around the world. As a result, the security level of the data being handled is raised. On-premises AI is being adopted by many businesses. Download Free Sample Report.
- CAGR of the market during the forecast period
- Detailed information on factors that will assist in conversational AI market growth during the next five years
- Estimation of the conversational AI market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the conversational AI market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the conversational AI market, vendors
Enterprise AI Market by End-user, Deployment, and Geography - Forecast and Analysis 2022-2026: The increasing interest in chatbot AI is notably driving the enterprise AI market growth. The report extensively covers enterprise AI market segmentation by end-user (advertising and media and entertainment, retail and e-commerce, medical and life sciences, BFSI, and others), deployment (on-premise and cloud), and geography (North America, Europe, APAC, the Middle East and Africa, and South America).
Virtual Desktop Infrastructure (VDI) Market Research Report, Size, Growth, Trends, Opportunity Analysis, Industry Forecast - 2022-2026: The rising need for remote support solutions across various organizations is notably driving the virtual desktop infrastructure (VDI) market in South Korea. The report extensively covers the virtual desktop infrastructure (VDI) market in South Korea segmentation by deployment (on-premise and cloud-based), end-user (IT service, BFSI sector, and healthcare sector), and geography (South Korea).
Conversational AI Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 21.6% |
Market growth 2022-2026 |
$1.14 billion |
Market structure |
Fragmented |
YoY growth (%) |
21.2 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 33% |
Key consumer countries |
US, Canada, China, India, Germany, and Italy |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Alphabet Inc., Amazon.com Inc., AmplifyReach India, Artificial Solutions International AB, Avaamo Inc., Baidu Inc., Cognigy GmbH, Conversica Inc., Creative Virtual Ltd., Fidelity National Information Services Inc., Gamut Analytics Pvt. Ltd., Inbenta Holdings Inc., International Business Machines Corp., Jio Haptik Technologies Ltd., Kasisto Inc., Kore.ai Inc., Microsoft Corp., Oracle Corp., Rasa Technologies Inc., SAP SE, and SoundHound Inc |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
- 1.1 Market Overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Deployment
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Deployment
- 5.1 Market segments
- Exhibit 24: Chart on Deployment - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Deployment - Market share 2021-2026 (%)
- 5.2 Comparison by Deployment
- Exhibit 26: Chart on Comparison by Deployment
- Exhibit 27: Data Table on Comparison by Deployment
- 5.3 On-premise - Market size and forecast 2021-2026
- Exhibit 28: Chart on On-premise - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on On-premise - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on On-premise - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on On-premise - Year-over-year growth 2021-2026 (%)
- 5.4 Cloud - Market size and forecast 2021-2026
- Exhibit 32: Chart on Cloud - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Cloud - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Cloud - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Cloud - Year-over-year growth 2021-2026 (%)
- 5.5 Market opportunity by Deployment
- Exhibit 36: Market opportunity by Deployment ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison
- 7.3 North America - Market size and forecast 2021-2026
- Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.4 Europe - Market size and forecast 2021-2026
- Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.5 APAC - Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.6 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.7 South America - Market size and forecast 2021-2026
- Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 China - Market size and forecast 2021-2026
- Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.10 Germany - Market size and forecast 2021-2026
- Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.11 Italy - Market size and forecast 2021-2026
- Exhibit 74: Chart on Italy - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Italy - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Italy - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Italy - Year-over-year growth 2021-2026 (%)
- 7.12 Canada - Market size and forecast 2021-2026
- Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)
- 7.13 India - Market size and forecast 2021-2026
- Exhibit 82: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on India - Year-over-year growth 2021-2026 (%)
- 7.14 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 90: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 91: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification
- 10.3 Alphabet Inc.
- Exhibit 93: Alphabet Inc. - Overview
- Exhibit 94: Alphabet Inc. - Business segments
- Exhibit 95: Alphabet Inc. - Key news
- Exhibit 96: Alphabet Inc. - Key offerings
- Exhibit 97: Alphabet Inc. - Segment focus
- 10.4 Amazon.com Inc.
- Exhibit 98: Amazon.com Inc. - Overview
- Exhibit 99: Amazon.com Inc. - Business segments
- Exhibit 100: Amazon.com Inc. - Key news
- Exhibit 101: Amazon.com Inc. - Key offerings
- Exhibit 102: Amazon.com Inc. - Segment focus
- 10.5 Artificial Solutions International AB
- Exhibit 103: Artificial Solutions International AB - Overview
- Exhibit 104: Artificial Solutions International AB - Product / Service
- Exhibit 105: Artificial Solutions International AB - Key offerings
- 10.6 Baidu Inc.
- Exhibit 106: Baidu Inc. - Overview
- Exhibit 107: Baidu Inc. - Business segments
- Exhibit 108: Baidu Inc. - Key offerings
- Exhibit 109: Baidu Inc. - Segment focus
- 10.7 Fidelity National Information Services Inc.
- Exhibit 110: Fidelity National Information Services Inc. - Overview
- Exhibit 111: Fidelity National Information Services Inc. - Business segments
- Exhibit 112: Fidelity National Information Services Inc. - Key news
- Exhibit 113: Fidelity National Information Services Inc. - Key offerings
- Exhibit 114: Fidelity National Information Services Inc. - Segment focus
- 10.8 International Business Machines Corp.
- Exhibit 115: International Business Machines Corp. - Overview
- Exhibit 116: International Business Machines Corp. - Business segments
- Exhibit 117: International Business Machines Corp. - Key offerings
- Exhibit 118: International Business Machines Corp. - Segment focus
- 10.9 Kore.ai Inc.
- Exhibit 119: Kore.ai Inc. - Overview
- Exhibit 120: Kore.ai Inc. - Key offerings
- 10.10 Microsoft Corp.
- Exhibit 121: Microsoft Corp. - Overview
- Exhibit 122: Microsoft Corp. - Business segments
- Exhibit 123: Microsoft Corp. - Key news
- Exhibit 124: Microsoft Corp. - Key offerings
- Exhibit 125: Microsoft Corp. - Segment focus
- 10.11 Oracle Corp.
- Exhibit 126: Oracle Corp. - Overview
- Exhibit 127: Oracle Corp. - Business segments
- Exhibit 128: Oracle Corp. - Key news
- Exhibit 129: Oracle Corp. - Key offerings
- Exhibit 130: Oracle Corp. - Segment focus
- 10.12 SAP SE
- Exhibit 131: SAP SE - Overview
- Exhibit 132: SAP SE - Business segments
- Exhibit 133: SAP SE - Key news
- Exhibit 134: SAP SE - Key offerings
- Exhibit 135: SAP SE - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 136: Inclusions checklist
- Exhibit 137: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 138: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 139: Research methodology
- Exhibit 140: Validation techniques employed for market sizing
- Exhibit 141: Information sources
- 11.5 List of abbreviations
- Exhibit 142: List of abbreviations
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