世界各国のリアルタイムなデータ・インテリジェンスで皆様をお手伝い

会話型AI市場:オファリング、会話型インターフェース、業務機能(営業・マーケティング、人事、ITSM)、チャネル、テクノロジー、バーティカル(BFSI、小売・eコマース、ヘルスケア・ライフサイエンス)、地域別 - 2028年までの世界予測


Conversational AI Market by Offering, Conversational Interface, Business Function (Sales & Marketing, HR, ITSM), Channel, Technology, Vertical (BFSI, Retail & eCommerce, Healthcare & Life Sciences) and Region - Global Forecast to 2028

会話型AI市場は、2023年の107億米ドルから2028年には298億米ドルまで、予測期間中に22.6%のCAGRで成長すると予想されています。人工知能(AI)と機械学習には、いくつかの商業的な活用があります。さらに、アジア... もっと見る

 

 

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MarketsandMarkets
マーケッツアンドマーケッツ
2023年4月5日 US$4,950
シングルユーザライセンス
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会話型AI市場は、2023年の107億米ドルから2028年には298億米ドルまで、予測期間中に22.6%のCAGRで成長すると予想されています。人工知能(AI)と機械学習には、いくつかの商業的な活用があります。さらに、アジア諸国での事業拡大は、会話型AI市場における優位性を強化し、健全な財務を獲得するのに役立つだろう。予測分析技術とデータソースの統合、およびNLPの大幅な進歩により、近い将来、企業は会話から意味のある洞察をリアルタイムで抽出できるようになるでしょう。
予測期間中、チャットボット分野の市場規模が最も大きくなると予測される
会話型AIに統合されれば、ビジネスに大いに役立つと思われる発展途上のトレンドは、バーチャルアシスタントを動かすための人工知能(AI)の利用です。チャットボットセグメントの成長は、垂直方向のさまざまなユースケースに対するAI搭載チャットボットの需要が増加していることに起因しています。ChatGPTは、膨大なデータセットを評価し、タイムリーな洞察を提供する能力を備えています。ChatGPTは、ユーザーが書いたプロンプトに反応し、AIが生成した人間のようなテキストや画像、ビデオを新たに提供するAIチャットボットです。
予測期間中、HR分野が最も高いCAGRで成長すると予測されています。
会話型AIは、現代的な会話体験を通じて候補者のスクリーニング、アポイントメント、対話、選考を自動化することで、人事採用プロセスの合理化を支援することができます。各従業員にユニークな体験を提供することができます。一般的に、人事部は社員の質問に答えたり、レポートを作成したり、ビジネスケースを作成したりするために、平均5~10個のシステムを使用しています。一方、会話型AIを搭載した人事ツールは、シームレスでまとまりのあるユニットとして機能し、簡単なリクエストをするだけで、誰でも情報にアクセスしたり、業務を遂行したりすることができます。また、組織の戦略的タスクの優先順位付けを支援します。
バーティカルの中では、BFSIバーティカルが予測期間中に最大の市場規模を持つと予想される
スマートフォンやタブレットの普及が進んだことで、BFSIの関係者はさまざまなコミュニケーションプラットフォームにボットを導入し、顧客との関わりを持つことが容易になりました。チャットボットやバーチャルエージェントを導入する傾向が強まったことで、RoIが強化され、顧客獲得、ロイヤルティ、ブランドマーケティングの向上につながっています。BFSIにおけるインテリジェントなバーチャルアシスタントとチャットボットの主な機能には、アカウント管理、頻繁な顧客アラートとリマインダー、クレジットとローンの申請更新、支店とATMの検索、保険申請、顧客調査などがあります。また、財務アドバイス、24時間365日のアクセス、商品のクロスセル、決済取引などの点でも、顧客にメリットをもたらします。
予測期間中、北米が最大の市場規模を占める
会話型AI市場では、北米が最大の市場シェアを占めると予想されています。北米は、市場シェアにおいて会話型AIの主要市場の1つです。この地域のさまざまな国の組織は、市場で優位に立つために、継続的なビジネスプロセスの一部としてAI、ML、および深層学習技術を活用しています。この地域の国々は経済が確立しており、会話型AIベンダーが新しい技術に投資することを可能にしています。さらに、この地域は、IT大手企業が新しい製品を展開し、会話型AI市場に関連する積極的なコラボレーションが行われているイノベーションの中心地とみなされています。
プライマリーの内訳
会話型AI市場で事業を展開する様々な主要組織の最高経営責任者(CEO)、イノベーション・技術責任者、システムインテグレーター、経営者に詳細なインタビューを実施しました。
 企業別:ティアI:34%、ティアII:43%、ティアIII:23
 By Designation:Cレベルエグゼクティブ50%、取締役30%、その他:20
 地域別:北米:40%、アジア太平洋:30%、欧州:20%、中東・アフリカ:5%、中南米:5%。
会話型AIのソリューションとサービスを提供する主要プレイヤーの調査も含まれています。世界のConversational AI市場における主要ベンダーのプロフィールを掲載しています。世界の会話型AI市場の主要ベンダーには、IBM(米国)、Microsoft(米国)、Google(米国)、AWS(米国)、Artificial Solutions(スウェーデン)、Baidu(中国)、SAP(ドイツ)、Oracle(米国)、OpenAI(米国)、Kore.ai(米国)、LivePerson(米国)、Avaamo(米国)、SoundHound(米国)、Kasisto(米国)、MindMeld(米国)、Solvvy(米国)、Creative Virtual(英国)、Pypestream(米国) Saarthi.ai(インド)、Inbenta(米国)、Conversica(米国)、Haptik(インド)、Gupshup(米国)、Cognigy(ドイツ)、Yellow.ai(米国)、AssemblyAI(米国)、Senseforth.ai(米国)、Rasa(ドイツ)、Rulai(米国)、Exceed.ai(米国)、Clinc(米国)、Laiye(中国)。
調査対象
この調査レポートは、セグメントにわたる会話型AI市場を対象としています。提供、業務機能、チャネル、技術、会話型インターフェース、垂直、地域などの異なるセグメントにわたる市場規模およびこの市場の成長可能性を推定することを目的としています。本レポートには、市場の主要企業の詳細な競合分析が含まれており、企業プロフィール、製品および事業の提供、最近の開発、主要な市場戦略に関連する主要な見解も併せて掲載しています。
本レポートを購入する主なメリット
このレポートは、この市場のマーケットリーダー/新規参入者に、会話型AI市場全体とそのサブセグメントの収益数字の最も近い近似値に関する情報を提供するだろう。本レポートは、関係者が競争環境を理解し、自社のビジネスを位置づけ、適切な市場参入戦略を計画するために、より良い洞察を得るのに役立つだろう。また、関係者が市場の鼓動を理解するのに役立ち、主要な市場促進要因、阻害要因、課題、および機会に関する情報を提供します。
本レポートは、以下のポイントに関する洞察を提供します:

- 会話型AI市場の成長に影響を与える主要な促進要因(政府部門におけるAIを活用したデジタル体験の導入需要の高まり、顧客エンゲージメントとリテンションへの注目の高まり)、阻害要因(プライバシーとセキュリティ侵害)、機会(会話型AIにおける生成モデルの利用の増加、購買体験向上とビジネスプロセス合理化のための会話型商取引の需要の高まり)、課題(個人情報や機密情報の開示に対する懸念)の解析

- 製品開発/イノベーション:会話型AI市場における今後の技術、研究開発活動、新製品・サービス発表に関する詳細な洞察

- 市場を開拓する:有利な市場に関する包括的な情報 - 当レポートは、様々な地域にわたる会話型AI市場について分析しています。

- 市場の多様化:会話型AI市場戦略における新製品&サービス、未開拓の地域、最近の開発、投資に関する情報を網羅的に提供します。また、音声分析とNLP市場を理解し、主要な市場促進要因、阻害要因、課題、機会に関する情報を提供することで、利害関係者に役立ちます

- 競合他社の評価IBM(米国)、Microsoft(米国)、Google(米国)、AWS(米国)、Artificial Solutions(スウェーデン)、Baidu(中国)、SAP(ドイツ)、Oracle(米国)、OpenAI(米国)、Kore.AI(米国)など主要プレイヤーの市場シェア、成長戦略、サービス提供の詳細を評価する。ai(米国)、LivePerson(米国)、Avaamo(米国)、SoundHound(米国)、Kasisto(米国)、MindMeld(米国)、Solvvy(米国)、Creative Virtual(英国)、Pypestream(米国) Saarthi.ai(インド)、Inbenta(米国)、Conversica(米国)、Haptik(インド)、Gupshup(米国)、Cognigy(ドイツ)、Yellow.ai(米国)、AssemblyAI(米国)、Senseforth.ai(米国)、Rasa(ドイツ)、Rulai(米国)、Exceed.ai(米国)、Clinc(米国)、Laiye(中国)など 会話AI市場において、その他

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目次

1 INTRODUCTION 40
1.1 STUDY OBJECTIVES 40
1.2 MARKET DEFINITION 40
1.2.1 INCLUSIONS AND EXCLUSIONS 41
1.3 MARKET SCOPE 42
1.3.1 MARKET SEGMENTATION 42
1.3.2 REGIONS COVERED 42
1.4 YEARS CONSIDERED 43
1.5 CURRENCY CONSIDERED 43
1.6 STAKEHOLDERS 43
1.7 SUMMARY OF CHANGES 44
1.7.1 IMPACT OF RECESSION 44
2 RESEARCH METHODOLOGY 45
2.1 RESEARCH DATA 45
FIGURE 1 CONVERSATIONAL AI MARKET: RESEARCH DESIGN 45
2.1.1 SECONDARY DATA 46
2.1.2 PRIMARY DATA 46
TABLE 1 PRIMARY INTERVIEWS 46
2.1.2.1 Breakup of primary profiles 47
2.1.2.2 Key industry insights 47
2.2 MARKET BREAKUP AND DATA TRIANGULATION 48
FIGURE 2 DATA TRIANGULATION 48
2.3 MARKET SIZE ESTIMATION 49
FIGURE 3 CONVERSATIONAL AI MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES 49
2.3.1 TOP-DOWN APPROACH 49
2.3.2 BOTTOM-UP APPROACH 50
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 1 (SUPPLY SIDE): REVENUE FROM SOLUTIONS/SERVICES 50
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 2, BOTTOM UP (SUPPLY SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS/SERVICES 51
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 3, BOTTOM UP (SUPPLY SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS/SERVICES 52
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 4, BOTTOM UP (DEMAND SIDE): SHARE OF CONVERSATIONAL AI THROUGH OVERALL CONVERSATIONAL AI SPENDING 52
2.4 MARKET FORECAST 53
TABLE 2 FACTOR ANALYSIS 53
2.5 COMPANY EVALUATION MATRIX METHODOLOGY 54

2.6 START-UP/SME EVALUATION MATRIX METHODOLOGY 55
FIGURE 8 START-UP/SME EVALUATION MATRIX: CRITERIA WEIGHTAGE 55
2.7 RESEARCH ASSUMPTIONS 56
2.8 STUDY LIMITATIONS 57
2.9 IMPACT OF RECESSION ON GLOBAL CONVERSATIONAL AI MARKET 58
3 EXECUTIVE SUMMARY 59
TABLE 3 GLOBAL CONVERSATIONAL AI MARKET SIZE AND GROWTH RATE, 2018–2022 (USD MILLION, Y-O-Y%) 60
TABLE 4 GLOBAL CONVERSATIONAL AI MARKET SIZE AND GROWTH RATE, 2023–2028 (USD MILLION, Y-O-Y%) 60
FIGURE 9 SOLUTIONS SEGMENT TO DOMINATE MARKET IN 2023 61
FIGURE 10 TRAINING AND CONSULTING TO HOLD LARGEST MARKET SHARE IN 2023 61
FIGURE 11 CHATBOTS TO DOMINATE MARKET, BY CONVERSATIONAL INTERFACE, IN 2023 61
FIGURE 12 ML AND DEEP LEARNING SEGMENT TO LEAD MARKET, BY TECHNOLOGY, IN 2023 62
FIGURE 13 MOBILE APPS SEGMENT TO DOMINATE MARKET IN 2023 62
FIGURE 14 SALES AND MARKETING TO HOLD LARGEST MARKET SHARE, BY BUSINESS FUNCTION (2023) 62
FIGURE 15 SALES AND MARKETING, BY APPLICATION: CUSTOMER ENGAGEMENT AND RETENTION TO COMMAND LARGEST SHARE, 2023 63
FIGURE 16 FINANCE AND ACCOUNTING, BY APPLICATION: CUSTOMER SUPPORT AND PROCUREMENT MANAGEMENT TO GARNER LEADING SHARES, 2023 63
FIGURE 17 HR, BY APPLICATION: EMPLOYEE ENGAGEMENT AND ONBOARDING TO DOMINATE APPLICATIONS MARKET, 2023 64
FIGURE 18 OPERATIONS AND SUPPLY CHAIN, BY APPLICATION: WORKFLOW OPTIMIZATION SEGMENT TO DOMINATE MARKET, 2023 64
FIGURE 19 ITSM, BY APPLICATION: INCIDENT MANAGEMENT AND COST OPTIMIZATION TO REGISTER LARGEST MARKET SHARES, 2023 65
FIGURE 20 HEALTHCARE AND LIFE SCIENCES SEGMENT TO GROW AT HIGHEST CAGR IN 2023 65
FIGURE 21 GEOGRAPHICAL SNAPSHOT: NORTH AMERICA TO COMMAND LARGEST MARKET SHARE IN 2023 66
4 PREMIUM INSIGHTS 67
4.1 ATTRACTIVE OPPORTUNITIES IN CONVERSATIONAL AI MARKET 67
FIGURE 22 RISING DEMAND TO EMBRACE AI-POWERED DIGITAL EXPERIENCE ACROSS GOVERNMENT SECTOR TO DRIVE MARKET GROWTH 67
4.2 OVERVIEW OF RECESSION IMPACT ON CONVERSATIONAL AI MARKET 68
FIGURE 23 CONVERSATIONAL AI MARKET TO WITNESS MINOR DECLINE IN Y-O-Y GROWTH IN 2023 68
4.3 CONVERSATIONAL AI MARKET: TOP THREE BUSINESS FUNCTIONS 68
FIGURE 24 HR BUSINESS FUNCTION SEGMENT TO GROW AT HIGHEST CAGR 68
4.4 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY OFFERING AND VERTICAL 69
FIGURE 25 CONVERSATIONAL AI SOLUTIONS AND BFSI VERTICAL TO HOLD LARGEST MARKET SHARES IN NORTH AMERICA IN 2023 69
4.5 CONVERSATIONAL AI MARKET: BY REGION 69
FIGURE 26 NORTH AMERICA TO HOLD LARGEST MARKET SHARE IN 2023 69
5 MARKET OVERVIEW AND INDUSTRY TRENDS 70
5.1 INTRODUCTION 70
5.2 CONVERSATIONAL AI: EVOLUTION 70
FIGURE 27 EVOLUTION OF CONVERSATIONAL AI 70
5.3 CONVERSATIONAL AI: ARCHITECTURE 71
FIGURE 28 CONVERSATIONAL AI: HIGH-LEVEL ARCHITECTURE OVERVIEW 72
5.4 MARKET DYNAMICS 73
FIGURE 29 CONVERSATIONAL AI MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 73
5.4.1 DRIVERS 73
5.4.1.1 Increasing demand for AI-powered customer support services 73
5.4.1.2 Omnichannel deployment and reduced chatbot development cost 74
5.4.1.3 Growing focus on customer engagement and retention 74
5.4.1.4 Rising demand to embrace AI-powered digital experience across government sector 75
5.4.2 RESTRAINTS 75
5.4.2.1 Privacy and security breaches 75
5.4.2.2 Limitations of voice command authentication 75
5.4.3 OPPORTUNITIES 76
5.4.3.1 Increasing usage of generative models in conversational AI 76
5.4.3.2 Rising demand for conversational commerce for better purchasing experience and streamlined business processes 76
5.4.3.3 Integration of advanced AI capabilities to add value to existing conversational AI offerings 77
5.4.4 CHALLENGES 77
5.4.4.1 Apprehensiveness over disclosing personal or sensitive information 77
5.4.4.2 Lack of accuracy in resolving queries 77
5.4.4.3 Inability to effectively recognize customer intent and behavior 77
5.4.4.4 Dearth of awareness 78
5.5 CONVERSATIONAL AI MARKET: ECOSYSTEM 78
TABLE 5 CONVERSATIONAL AI MARKET: ECOSYSTEM 78
5.6 CASE STUDY ANALYSIS 80
5.6.1 BFSI 80
5.6.1.1 Case Study 1: Nova KBM Bank provides overall customer self-service with AI-powered contact centers 80
5.6.1.2 Case Study 2: Florida Blue provides members with visual IVR support using Kore.ai XO Platform 80
5.6.1.3 Case Study 3: HSBC implemented LivePerson’s Conversation Builder platform to automate customer services queries and improve agent attrition 81

5.6.2 HEALTHCARE AND LIFE SCIENCES 81
5.6.2.1 Case Study 1: Conversational AI helped UCHealth make healthcare more accessible for a large patient network 81
5.6.2.2 Case Study 2: HealthKart uses conversational AI to offer workouts on-demand 82
5.6.2.3 Case Study 3: Max Life Insurance Company harnesses conversational AI to automate email-based customer support 82
5.6.3 TELECOM 83
5.6.3.1 Case Study 1: Haptik increases local queries by 2.5X and decreases human interventions by 80% by utilizing Microsoft Azure Machine Translation models 83
5.6.3.2 Case Study 2: Telenor improves customer experience using conversational AI solution Telmi 84
5.6.4 TRAVEL AND HOSPITALITY 84
5.6.4.1 Case Study 1: Indigo boosts customer satisfaction to 87% with Yellow.ai conversational AI platform 84
5.6.4.2 Case Study 2: Equinox experienced a significant increase in leads with Haptik 85
5.6.5 IT AND ITES 85
5.6.5.1 Case Study 1: IHS Markit uses Conversica Intelligent Virtual Assistants to drive revenue opportunities 85
5.6.5.2 Case Study 2: CSG projects ROI of USD 39 million by implementing Open Question 86
5.6.6 RETAIL AND E-COMMERCE 86
5.6.6.1 Case Study 1: Tata CLiQ increased monthly sales by 10X ROI by leveraging Gupshup’s WhatsApp Business Solution 86
5.6.6.2 Case Study 2: Pepperfry uses Pep, an AI-powered chatbot, to improve customer experience 87
5.6.7 MEDIA AND ENTERTAINMENT 88
5.6.7.1 Case Study 1: Linden Lab successfully boosts customer support with Haptik conversational AI solution 88
5.6.7.2 Case Study 2: SKY launched an automated conversational bot with the help of LivePerson’s Conversational Cloud 88
5.6.8 ENERGY AND UTILITIES 89
5.6.8.1 Case Study 1: ENN transitions to automated AI with IBM Watson Assistant 89
5.6.8.2 Case Study 2: Shell implemented Teneo platform to build digital employees to answer complex questions 90
5.6.9 AUTOMOTIVE AND TRANSPORTATION 90
5.6.9.1 Case Study 1: Conversational AI from Rezo for automobile company CarDekho 90
5.6.9.2 Case Study 2: Skoda deployed Teneo to deliver superior customer service experience, enhance customer journey, and improve website conversion rates 91
5.6.10 GOVERNMENT 91
5.6.10.1 Case Study 1: State of New Jersey and IBM Consulting help citizens more efficiently with IBM virtual agents 91

5.6.11 EDUCATION 92
5.6.11.1 Case Study 1: Doubtnut increases learner engagement by 260% with Gupshup conversational AI solution 92
5.7 TECHNOLOGY ANALYSIS 92
5.7.1 RELATED TECHNOLOGY 92
5.7.1.1 Machine Learning and Deep Learning 92
5.7.1.2 Natural Language Processing 93
5.7.1.3 Natural Language Understanding 93
5.7.1.4 Automated Speech Recognition 93
5.7.2 ALLIED TECHNOLOGIES 94
5.7.2.1 IoT 94
5.7.2.2 Big Data 94
5.7.2.3 AR/VR/Metaverse 94
5.8 SUPPLY/VALUE CHAIN ANALYSIS 95
FIGURE 30 SUPPLY/VALUE CHAIN ANALYSIS 95
5.9 PORTER’S FIVE FORCES ANALYSIS 96
FIGURE 31 PORTER’S FIVE FORCES ANALYSIS 96
TABLE 6 PORTER’S FIVE FORCES ANALYSIS 96
5.9.1 THREAT FROM NEW ENTRANTS 97
5.9.2 THREAT FROM SUBSTITUTES 97
5.9.3 BARGAINING POWER OF SUPPLIERS 97
5.9.4 BARGAINING POWER OF BUYERS 97
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 97
5.10 PRICING MODEL ANALYSIS 98
TABLE 7 CONVERSATIONAL AI MARKET: PRICING MODEL ANALYSIS, 2023 98
5.11 TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS 100
FIGURE 32 CONVERSATIONAL AI MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS 100
5.12 PATENT ANALYSIS 101
5.12.1 METHODOLOGY 101
5.12.2 DOCUMENT TYPE 101
TABLE 8 PATENTS FILED, 2021–2023 101
5.12.3 INNOVATION AND PATENT APPLICATIONS 101
FIGURE 33 TOTAL NUMBER OF PATENTS GRANTED, 2021–2023 101
5.12.3.1 Top applicants 102
FIGURE 34 TOP TEN COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS, 2021–2023 102
TABLE 9 TOP TEN PATENT OWNERS, 2021–2023 102
5.13 KEY CONFERENCES & EVENTS, 2023–2024 103
TABLE 10 DETAILED LIST OF CONFERENCES & EVENTS, 2023–2024 103
5.14 REGULATORY LANDSCAPE 104
TABLE 11 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 104
TABLE 12 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 104
TABLE 13 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 105
TABLE 14 MIDDLE EAST AND AFRICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 106
TABLE 15 LATIN AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 106
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 107
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS 107
FIGURE 35 KEY STAKEHOLDERS IN BUYING BEHAVIOR: TOP THREE APPLICATIONS 107
TABLE 16 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%) 107
5.15.2 BUYING CRITERIA 108
FIGURE 36 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 108
TABLE 17 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 108
6 CONVERSATIONAL AI MARKET, BY OFFERING 109
6.1 INTRODUCTION 110
6.1.1 OFFERINGS: CONVERSATIONAL AI MARKET DRIVERS 110
FIGURE 37 SERVICES SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 110
TABLE 18 CONVERSATIONAL AI MARKET, BY OFFERING, 2018–2022 (USD MILLION) 110
TABLE 19 CONVERSATIONAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 111
6.2 SOLUTIONS 111
6.2.1 ENHANCED BUSINESS OPERATIONS AND OPERATIONAL EFFECTIVENESS TO DRIVE DEMAND FOR SOLUTIONS 111
TABLE 20 CONVERSATIONAL AI SOLUTIONS MARKET, BY REGION, 2018–2022 (USD MILLION) 111
TABLE 21 CONVERSATIONAL AI SOLUTIONS MARKET, BY REGION, 2023–2028 (USD MILLION) 112
6.3 SERVICES 112
FIGURE 38 SYSTEM INTEGRATION AND IMPLEMENTATION TO REGISTER HIGHEST CAGR IN 2023 112
TABLE 22 CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION) 113
TABLE 23 CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION) 113
TABLE 24 CONVERSATIONAL AI SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION) 113
TABLE 25 CONVERSATIONAL AI SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION) 113
6.3.1 TRAINING AND CONSULTING 114
6.3.1.1 Training and consulting services play a crucial role in managing operations and technology updates 114
TABLE 26 TRAINING AND CONSULTING SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION) 114
TABLE 27 TRAINING AND CONSULTING SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION) 114
6.3.2 SYSTEM INTEGRATION AND IMPLEMENTATION 115
6.3.2.1 System integration and implementation services to gain traction due to the rising need to ensure effective system communication 115
TABLE 28 SYSTEM INTEGRATION AND IMPLEMENTATION SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION) 115
TABLE 29 SYSTEM INTEGRATION AND IMPLEMENTATION SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION) 115
6.3.3 SUPPORT AND MAINTENANCE 116
6.3.3.1 Demand for support and maintenance services to increase with rising conversational AI deployment 116
TABLE 30 SUPPORT AND MAINTENANCE SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION) 116
TABLE 31 SUPPORT AND MAINTENANCE SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION) 116
7 CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION 117
7.1 INTRODUCTION 118
7.1.1 BUSINESS FUNCTION: CONVERSATIONAL AI MARKET DRIVERS 118
FIGURE 39 SALES AND MARKETING SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023 118
TABLE 32 CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2018–2022 (USD MILLION) 119
TABLE 33 CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 119
7.2 SALES AND MARKETING 119
7.2.1 GROWING NEED TO RECOGNIZE CUSTOMER PURCHASING PATTERNS TO BOOST DEMAND FOR CONVERSATIONAL AI SOLUTIONS 119
TABLE 34 CONVERSATIONAL AI MARKET FOR SALES AND MARKETING, BY REGION, 2018–2022 (USD MILLION) 120
TABLE 35 CONVERSATIONAL AI MARKET FOR SALES AND MARKETING, BY REGION, 2023–2028 (USD MILLION) 120
7.2.2 SALES AND MARKETING APPLICATIONS 120
FIGURE 40 CUSTOMER ENGAGEMENT AND RETENTION TO HOLD LARGEST SHARE IN 2023 120
TABLE 36 CONVERSATIONAL AI MARKET FOR SALES AND MARKETING, BY APPLICATION, 2018–2022 (USD MILLION) 121
TABLE 37 CONVERSATIONAL AI MARKET FOR SALES AND MARKETING, BY APPLICATION, 2023–2028 (USD MILLION) 121
7.2.2.1 Customer engagement and retention 121
7.2.2.2 Branding and advertisement 122
7.2.2.3 Campaign management 122
7.2.2.4 Personalized recommendations 122
7.2.2.5 Other sales and marketing applications 122

7.3 FINANCE AND ACCOUNTING 123
7.3.1 SUPPORT FOR TRACKING OUTSTANDING INVOICES AND AUTOMATING FOLLOW-UPS TO DRIVE EMPHASIS ON CONVERSATIONAL AI 123
TABLE 38 CONVERSATIONAL AI MARKET FOR FINANCE AND ACCOUNTING, BY REGION, 2018–2022 (USD MILLION) 123
TABLE 39 CONVERSATIONAL AI MARKET FOR FINANCE AND ACCOUNTING, BY REGION, 2023–2028 (USD MILLION) 123
7.3.2 FINANCE AND ACCOUNTING APPLICATIONS 124
FIGURE 41 CUSTOMER SUPPORT SEGMENT TO DOMINATE MARKET IN 2023 124
TABLE 40 CONVERSATIONAL AI MARKET FOR FINANCE AND ACCOUNTING, BY APPLICATION, 2018–2022 (USD MILLION) 124
TABLE 41 CONVERSATIONAL AI MARKET FOR FINANCE AND ACCOUNTING, BY APPLICATION, 2023–2028 (USD MILLION) 124
7.3.2.1 Customer support 125
7.3.2.2 Procurement management 125
7.3.2.3 Expense tracking and reporting 125
7.3.2.4 Data privacy and compliance 125
7.3.2.5 Other finance and accounting applications 125
7.4 HR 126
7.4.1 NEED TO AUTOMATE EMPLOYEE ENGAGEMENT AND MANAGE COMPLEX ONBOARDING PROCESSES TO DRIVE ADOPTION 126
TABLE 42 CONVERSATIONAL AI MARKET FOR HR, BY REGION, 2018–2022 (USD MILLION) 126
TABLE 43 CONVERSATIONAL AI MARKET FOR HR, BY REGION, 2023–2028 (USD MILLION) 126
7.4.2 HR APPLICATIONS 127
FIGURE 42 EMPLOYEE ENGAGEMENT AND ONBOARDING SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023 127
TABLE 44 CONVERSATIONAL AI MARKET FOR HR, BY APPLICATION, 2018–2022 (USD MILLION) 127
TABLE 45 CONVERSATIONAL AI MARKET FOR HR, BY APPLICATION, 2023–2028 (USD MILLION) 127
7.4.2.1 Employee engagement and onboarding 128
7.4.2.2 Performance management 128
7.4.2.3 Document management 128
7.4.2.4 Leave management 128
7.4.2.5 Other HR applications 129
7.5 OPERATIONS AND SUPPLY CHAIN 129
7.5.1 EFFICIENCY IN HANDLING COMPLEX OPERATIONS AND IMPROVED PRODUCTIVITY TO BOOST ADOPTION OF CONVERSATIONAL AI 129
TABLE 46 CONVERSATIONAL AI MARKET FOR OPERATIONS AND SUPPLY CHAIN, BY REGION, 2018–2022 (USD MILLION) 129
TABLE 47 CONVERSATIONAL AI MARKET FOR OPERATIONS AND SUPPLY CHAIN, BY REGION, 2023–2028 (USD MILLION) 130

7.5.2 OPERATIONS AND SUPPLY CHAIN APPLICATIONS 130
FIGURE 43 WORKFLOW OPTIMIZATION SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023 130
TABLE 48 CONVERSATIONAL AI MARKET FOR OPERATIONS AND SUPPLY CHAIN, BY APPLICATION, 2018–2022 (USD MILLION) 130
TABLE 49 CONVERSATIONAL AI MARKET FOR OPERATIONS AND SUPPLY CHAIN, BY APPLICATION, 2023–2028 (USD MILLION) 131
7.5.2.1 Workflow optimization 131
7.5.2.2 Scheduling and routing 131
7.5.2.3 Inventory management 131
7.5.2.4 Vendor management 131
7.5.2.5 Other operations and supply chain applications 132
7.6 ITSM 132
7.6.1 POTENTIAL TO STREAMLINE IT PROCESSES AND HASTEN QUERY RESOLUTION TO BOOST ADOPTION 132
TABLE 50 CONVERSATIONAL AI MARKET FOR ITSM, BY REGION, 2018–2022 (USD MILLION) 132
TABLE 51 CONVERSATIONAL AI MARKET FOR ITSM, BY REGION, 2023–2028 (USD MILLION) 132
7.6.2 ITSM APPLICATIONS 133
FIGURE 44 INCIDENT MANAGEMENT TO DOMINATE MARKET TILL 2028 133
TABLE 52 CONVERSATIONAL AI MARKET FOR ITSM, BY APPLICATION, 2018–2022 (USD MILLION) 133
TABLE 53 CONVERSATIONAL AI MARKET FOR ITSM, BY APPLICATION, 2023–2028 (USD MILLION) 133
7.6.2.1 Incident management 134
7.6.2.2 Cost optimization 134
7.6.2.3 Query handling 134
7.6.2.4 Knowledge management 134
7.6.2.5 Other ITSM applications 135
8 CONVERSATIONAL AI MARKET, BY CHANNEL 136
8.1 INTRODUCTION 137
8.2 CHANNEL: CONVERSATIONAL AI MARKET DRIVERS 137
FIGURE 45 MESSAGING APPS SEGMENT EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 137
TABLE 54 CONVERSATIONAL AI MARKET, BY CHANNEL, 2018–2022 (USD MILLION) 138
TABLE 55 CONVERSATIONAL AI MARKET, BY CHANNEL, 2023–2028 (USD MILLION) 138
8.3 MOBILE APPS 138
8.3.1 PROLIFERATION OF SMARTPHONES TO OFFER OPPORTUNITIES FOR SOLUTION DEPLOYMENT 138
TABLE 56 CONVERSATIONAL AI MARKET FOR MOBILE APPS, BY REGION, 2018–2022 (USD MILLION) 139
TABLE 57 CONVERSATIONAL AI MARKET FOR MOBILE APPS, BY REGION, 2023–2028 (USD MILLION) 139

8.4 TELEPHONES 139
8.4.1 NEED TO FACILITATE CONVERSATIONS BETWEEN CUSTOMERS AND BUSINESSES TO BOOST ADOPTION OF CONVERSATIONAL AI 139
TABLE 58 CONVERSATIONAL AI MARKET FOR TELEPHONES, BY REGION, 2018–2022 (USD MILLION) 140
TABLE 59 CONVERSATIONAL AI MARKET FOR TELEPHONES, BY REGION, 2023–2028 (USD MILLION) 140
8.5 MESSAGING APPS 140
8.5.1 AI USE IN MESSAGING APPS SHOWS STRONG POTENTIAL TO ENHANCE CONSUMER EXPERIENCE 140
TABLE 60 CONVERSATIONAL AI MARKET FOR MESSAGING APPS, BY REGION, 2018–2022 (USD MILLION) 141
TABLE 61 CONVERSATIONAL AI MARKET FOR MESSAGING APPS, BY REGION, 2023–2028 (USD MILLION) 141
8.6 EMAILS AND WEBSITES 141
8.6.1 GROWING NEED TO PROVIDE PRODUCT RECOMMENDATIONS TO WEBSITE VISITORS TO DRIVE MARKET GROWTH 141
TABLE 62 CONVERSATIONAL AI MARKET FOR EMAILS AND WEBSITES, BY REGION, 2018–2022 (USD MILLION) 142
TABLE 63 CONVERSATIONAL AI MARKET FOR EMAILS AND WEBSITES, BY REGION, 2023–2028 (USD MILLION) 142
9 CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE 143
9.1 INTRODUCTION 144
9.1.1 CONVERSATIONAL INTERFACE: CONVERSATIONAL AI MARKET DRIVERS 144
FIGURE 46 CHATBOTS SEGMENT TO GROW AT HIGHEST CAGR TILL 2028 144
TABLE 64 CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2018–2022 (USD MILLION) 144
TABLE 65 CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2023–2028 (USD MILLION) 145
9.2 CHATBOTS 145
9.2.1 USE OF AI-BASED CHATBOTS TO AUTOMATE CONVERSATIONS TO REGISTER RAPID GROWTH 145
TABLE 66 CONVERSATIONAL AI MARKET FOR CHATBOTS, BY REGION, 2018–2022 (USD MILLION) 145
TABLE 67 CONVERSATIONAL AI MARKET FOR CHATBOTS, BY REGION, 2023–2028 (USD MILLION) 146
9.3 IVR 146
9.3.1 GROWING ADOPTION ACROSS ENTERPRISES AND INDUSTRIES TO BOOST MARKET 146
TABLE 68 CONVERSATIONAL AI MARKET FOR IVR, BY REGION, 2018–2022 (USD MILLION) 146
TABLE 69 CONVERSATIONAL AI MARKET FOR IVR, BY REGION, 2023–2028 (USD MILLION) 147
9.4 IVA 147
9.4.1 RISING EMPHASIS ON CONSUMER CONNECTION AND SERVICE TO PROPEL ADOPTION OF IVA 147
TABLE 70 CONVERSATIONAL AI MARKET FOR IVA, BY REGION, 2018–2022 (USD MILLION) 147
TABLE 71 CONVERSATIONAL AI MARKET FOR IVA, BY REGION, 2023–2028 (USD MILLION) 148
10 CONVERSATIONAL AI MARKET, BY TECHNOLOGY 149
10.1 INTRODUCTION 150
10.2 TECHNOLOGY: CONVERSATIONAL AI MARKET DRIVERS 150
FIGURE 47 ML AND DEEP LEARNING TO SHOW HIGHEST GROWTH OVER FORECAST PERIOD 150
TABLE 72 CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2018–2022 (USD MILLION) 150
TABLE 73 CONVERSATIONAL AI MARKET, TECHNOLOGY, 2023–2028 (USD MILLION) 151
10.3 NLP 151
10.3.1 NEED TO RECOGNIZE HUMAN VOICES AND HANDLE QUERIES EFFECTIVELY TO DRIVE GROWTH OF NLP 151
TABLE 74 CONVERSATIONAL AI MARKET FOR NLP, BY REGION, 2018–2022 (USD MILLION) 151
TABLE 75 CONVERSATIONAL AI MARKET FOR NLP, BY REGION, 2023–2028 (USD MILLION) 152
10.4 ML AND DEEP LEARNING 152
10.4.1 GROWING FOCUS ON BUILDING AND MAINTAINING LOW-CODE APPS TO DRIVE MARKET 152
TABLE 76 CONVERSATIONAL AI MARKET FOR ML AND DEEP LEARNING, BY REGION, 2018–2022 (USD MILLION) 152
TABLE 77 CONVERSATIONAL AI MARKET FOR ML AND DEEP LEARNING, BY REGION, 2023–2028 (USD MILLION) 153
10.5 ASR 153
10.5.1 RISING NEED TO HANDLE CUSTOMER SERVICES AND RESOLVE CUSTOMER QUERIES ACROSS LARGE ENTERPRISES TO BOOST GROWTH 153
TABLE 78 CONVERSATIONAL AI MARKET FOR ASR, BY REGION, 2018–2022 (USD MILLION) 153
TABLE 79 CONVERSATIONAL AI MARKET FOR ASR, BY REGION, 2023–2028 (USD MILLION) 154
10.6 OTHER TECHNOLOGIES 154
TABLE 80 CONVERSATIONAL AI MARKET FOR OTHER TECHNOLOGIES, BY REGION, 2018–2022 (USD MILLION) 155
TABLE 81 CONVERSATIONAL AI MARKET FOR OTHER TECHNOLOGIES, BY REGION, 2023–2028 (USD MILLION) 155
11 CONVERSATIONAL AI MARKET, BY VERTICAL 156
11.1 INTRODUCTION 157
11.1.1 VERTICALS: CONVERSATIONAL AI MARKET DRIVERS 157
FIGURE 48 HEALTHCARE AND LIFE SCIENCES VERTICAL TO REGISTER FASTEST GROWTH 158
11.1.2 MAJOR USE CASES: BY VERTICAL 158
TABLE 82 CONVERSATIONAL AI MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 160
TABLE 83 CONVERSATIONAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 160
11.2 BFSI 161
11.2.1 BFSI TO REGISTER HIGHEST ADOPTION OF CONVERSATIONAL AI 161
TABLE 84 CONVERSATIONAL AI MARKET FOR BFSI, BY REGION, 2018–2022 (USD MILLION) 161
TABLE 85 CONVERSATIONAL AI MARKET FOR BFSI, BY REGION, 2023–2028 (USD MILLION) 161
11.3 RETAIL AND ECOMMERCE 162
11.3.1 INCREASING DEPLOYMENT OF CONVERSATIONAL AI SOLUTIONS TARGETED AT BOOSTING ENGAGEMENT AND LOYALTY 162
TABLE 86 CONVERSATIONAL AI MARKET FOR RETAIL AND ECOMMERCE, BY REGION, 2018–2022 (USD MILLION) 162
TABLE 87 CONVERSATIONAL AI MARKET FOR RETAIL AND ECOMMERCE, BY REGION, 2023–2028 (USD MILLION) 162
11.4 TELECOM 163
11.4.1 DRIVE TO IMPROVE CONTACT CENTER EFFICIENCY AND REDUCE COSTS TO AUGMENT DEMAND FOR CONVERSATIONAL AI 163
TABLE 88 CONVERSATIONAL AI MARKET FOR TELECOM, BY REGION, 2018–2022 (USD MILLION) 163
TABLE 89 CONVERSATIONAL AI MARKET FOR TELECOM, BY REGION, 2023–2028 (USD MILLION) 163
11.5 MEDIA AND ENTERTAINMENT 164
11.5.1 RISING DEMAND FOR PERSONALIZED CUSTOMER EXPERIENCE TO INCREASE ADOPTION OF CONVERSATIONAL AI 164
TABLE 90 CONVERSATIONAL AI MARKET FOR MEDIA AND ENTERTAINMENT, BY REGION, 2018–2022 (USD MILLION) 164
TABLE 91 CONVERSATIONAL AI MARKET FOR MEDIA AND ENTERTAINMENT, BY REGION, 2023–2028 (USD MILLION) 164
11.6 HEALTHCARE AND LIFE SCIENCES 165
11.6.1 EMPHASIS ON IMPROVING PATIENT MANAGEMENT, MONITORING, AND EXPERIENCE TO SUPPORT USAGE OF CONVERSATIONAL AI 165
TABLE 92 CONVERSATIONAL AI MARKET FOR HEALTHCARE AND LIFE SCIENCES, BY REGION, 2018–2022 (USD MILLION) 165
TABLE 93 CONVERSATIONAL AI MARKET FOR HEALTHCARE AND LIFE SCIENCES, BY REGION, 2023–2028 (USD MILLION) 165
11.7 TRAVEL AND HOSPITALITY 166
11.7.1 EMPHASIS ON AUTOMATING BOOKING AND IMPROVING SCHEDULE MANAGEMENT INDICATES POTENTIAL FOR AI 166
TABLE 94 CONVERSATIONAL AI MARKET FOR TRAVEL AND HOSPITALITY, BY REGION, 2018–2022 (USD MILLION) 166
TABLE 95 CONVERSATIONAL AI MARKET FOR TRAVEL AND HOSPITALITY, BY REGION, 2023–2028 (USD MILLION) 166
11.8 AUTOMOTIVE AND TRANSPORTATION 167
11.8.1 FOCUS ON DRIVING CUSTOMER AWARENESS ABOUT CAR RELEASES, TEST DRIVES, AND NEW SYSTEMS TO PROPEL MARKET GROWTH 167
TABLE 96 CONVERSATIONAL AI MARKET FOR AUTOMOTIVE AND TRANSPORTATION, BY REGION, 2018–2022 (USD MILLION) 167
TABLE 97 CONVERSATIONAL AI MARKET FOR AUTOMOTIVE AND TRANSPORTATION, BY REGION, 2023–2028 (USD MILLION) 167
11.9 IT AND ITES 168
11.9.1 HIGH REQUIREMENTS FOR CUSTOMER CARE AND INTENSE COMPETITION TO PUSH USERS TOWARD ADVANCED SOLUTIONS 168
TABLE 98 CONVERSATIONAL AI MARKET FOR IT AND ITES, BY REGION, 2018–2022 (USD MILLION) 168
TABLE 99 CONVERSATIONAL AI MARKET FOR IT AND ITES, BY REGION, 2023–2028 (USD MILLION) 168
11.10 OTHER VERTICALS 169
TABLE 100 CONVERSATIONAL AI MARKET FOR OTHER VERTICALS, BY REGION, 2018–2022 (USD MILLION) 169
TABLE 101 CONVERSATIONAL AI MARKET FOR OTHER VERTICALS, BY REGION, 2023–2028 (USD MILLION) 170
12 CONVERSATIONAL AI MARKET, BY REGION 171
12.1 INTRODUCTION 172
FIGURE 49 CONVERSATIONAL AI MARKET: GEOGRAPHIC SNAPSHOT, 2023 VS. 2028 172
FIGURE 50 INDIA TO SHOW HIGHEST GROWTH DURING FORECAST PERIOD 172
TABLE 102 CONVERSATIONAL AI MARKET, BY REGION, 2018–2022 (USD MILLION) 173
TABLE 103 CONVERSATIONAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 173
12.2 NORTH AMERICA 173
12.2.1 NORTH AMERICA: CONVERSATIONAL AI MARKET DRIVERS 174
12.2.2 NORTH AMERICA: IMPACT OF RECESSION 174
FIGURE 51 NORTH AMERICA: MARKET SNAPSHOT 175
TABLE 104 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY OFFERING, 2018–2022 (USD MILLION) 175
TABLE 105 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 176
TABLE 106 NORTH AMERICA: CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION) 176
TABLE 107 NORTH AMERICA: CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION) 176
TABLE 108 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2018–2022 (USD MILLION) 176
TABLE 109 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2023–2028 (USD MILLION) 177
TABLE 110 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2018–2022 (USD MILLION) 177
TABLE 111 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 177
TABLE 112 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY CHANNEL, 2018–2022 (USD MILLION) 178
TABLE 113 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY CHANNEL, 2023–2028 (USD MILLION) 178
TABLE 114 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2018–2022 (USD MILLION) 178
TABLE 115 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 179
TABLE 116 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 179
TABLE 117 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 180
TABLE 118 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 180
TABLE 119 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 180
12.2.3 US 181
12.2.3.1 Strong IT infrastructure, innovation, and initiatives to drive market growth 181
12.2.4 CANADA 181
12.2.4.1 Advent of IoT-powered digital economy to support economic growth 181
12.3 EUROPE 181
12.3.1 EUROPE: CONVERSATIONAL AI MARKET DRIVERS 182
12.3.2 EUROPE: IMPACT OF RECESSION 182
TABLE 120 EUROPE: CONVERSATIONAL AI MARKET, BY OFFERING, 2018–2022 (USD MILLION) 183
TABLE 121 EUROPE: CONVERSATIONAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 183
TABLE 122 EUROPE: CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION) 183
TABLE 123 EUROPE: CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION) 183
TABLE 124 EUROPE: CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2018–2022 (USD MILLION) 184
TABLE 125 EUROPE: CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2023–2028 (USD MILLION) 184
TABLE 126 EUROPE: CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2018–2022 (USD MILLION) 184
TABLE 127 EUROPE: CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 184
TABLE 128 EUROPE: CONVERSATIONAL AI MARKET, BY CHANNEL, 2018–2022 (USD MILLION) 185
TABLE 129 EUROPE: CONVERSATIONAL AI MARKET, BY CHANNEL, 2023–2028 (USD MILLION) 185
TABLE 130 EUROPE: CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2018–2022 (USD MILLION) 185
TABLE 131 EUROPE: CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 186
TABLE 132 EUROPE: CONVERSATIONAL AI MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 186
TABLE 133 EUROPE: CONVERSATIONAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 187
TABLE 134 EUROPE: CONVERSATIONAL AI MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 187
TABLE 135 EUROPE: CONVERSATIONAL AI MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 187
12.3.3 UK 188
12.3.3.1 Huge competition in retail to hinder customer retention and drive demand for conversational AI 188
12.3.4 GERMANY 188
12.3.4.1 Rising government support and highly skilled labor force to drive market 188
12.3.5 FRANCE 188
12.3.5.1 Rising demand for better and faster predictive results to propel AI adoption 188
12.3.6 ITALY 189
12.3.6.1 Government initiatives in education and research to support growth of conversational AI 189
12.3.7 SPAIN 189
12.3.7.1 Spain’s prominence in AI startup ecosystem to favor adoption 189
12.3.8 REST OF EUROPE 189
12.4 ASIA PACIFIC 190
12.4.1 ASIA PACIFIC: CONVERSATIONAL AI MARKET DRIVERS 190
12.4.2 ASIA PACIFIC: IMPACT OF RECESSION 190
FIGURE 52 ASIA PACIFIC: MARKET SNAPSHOT 191
TABLE 136 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY OFFERING, 2018–2022 (USD MILLION) 191
TABLE 137 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 192
TABLE 138 ASIA PACIFIC: CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION) 192
TABLE 139 ASIA PACIFIC: CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION) 192
TABLE 140 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2018–2022 (USD MILLION) 192
TABLE 141 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2023–2028 (USD MILLION) 193
TABLE 142 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2018–2022 (USD MILLION) 193
TABLE 143 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 193
TABLE 144 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY CHANNEL, 2018–2022 (USD MILLION) 193
TABLE 145 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY CHANNEL, 2023–2028 (USD MILLION) 194
TABLE 146 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2018–2022 (USD MILLION) 194
TABLE 147 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 194
TABLE 148 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 195
TABLE 149 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 195
TABLE 150 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 196
TABLE 151 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 196
TABLE 152 ASIA PACIFIC: CONVERSATIONAL AI MARKET FOR ASEAN, BY COUNTRY, 2018–2022 (USD MILLION) 196
TABLE 153 ASIA PACIFIC: CONVERSATIONAL AI MARKET FOR ASEAN, BY COUNTRY, 2023–2028 (USD MILLION) 197
12.4.3 CHINA 197
12.4.3.1 Investments in AI landscape to propel adoption of conversational solutions 197
12.4.4 ASEAN 197
12.4.4.1 Rising need to improve business insights and growing data generation to boost demand 197
12.4.5 JAPAN 198
12.4.5.1 Advancements in innovative technologies and need to prevent data breaches to drive market 198
12.4.6 ANZ 198
12.4.6.1 Emphasis on reducing operational costs and improving customer experience to support growth 198
12.4.7 SOUTH KOREA 198
12.4.7.1 Growing government investments and support for AI startups to boost market growth 198
12.4.8 INDIA 198
12.4.8.1 Rising investments among startups and growth of AI technology to trigger conversational AI adoption 198
12.4.9 REST OF ASIA PACIFIC 199

 

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Summary

The conversational AI market is expected to grow from USD 10.7 billion in 2023 to USD 29.8 billion by 2028, at a CAGR of 22.6% during the forecast period. There are several commercial utilizes for artificial intelligence (AI) and machine learning. Moreover, the expansion of business across Asian countries would help to strengthen the dominance in the Conversational AI market and garner healthy financials. The integration of predictive analytics technologies and data sources, along with significant advancements in NLP, will soon enable businesses to extract meaningful insights from the conversations in real time.
The chatbots segment is anticipated to have the largest market size during the forecast period
A developing trend that will likely help businesses much when it is integrated into conversational AI is the use of artificial intelligence (AI) to power virtual assistants. The growth of the chatbots segment is attributed to the increasing demand for AI-powered chatbots for various use cases across verticals. The ChatGPT has the capacity to evaluate enormous data sets and offer timely insights. ChatGPT is an AI chatbot that response to the users written prompts and deliver new human-like text or images and videos generated by the AI.
The HR segment is registered to grow at the highest CAGR during the forecast period
Conversational AI can aid in streamlining the HR recruitment process by automating candidate screening, appointments, interactions, and selection through a contemporary conversational experience. It offers each employee a unique experience. In general, HR uses an average of five to ten systems to answer an employee question, produce a report, or create a business case. On the other hand, a conversational AI-powered HR tools works as a seamless, cohesive unit that enables anyone to access information or carry out duties by simply making a simple request. It also assists in prioritizing an organization’s strategic tasks.
Among Vertical, BFSI vertical is anticipated to have the largest market size during the forecast period
The increased penetration of smartphones and tablets has made it easy for BFSI stakeholders to deploy bots on various communication platforms to engage with customers. The increasing trend of deploying chatbots and virtual agents has resulted in enhanced RoI and increased customer acquisition, loyalty, and brand marketing. Some of the key functions of intelligent virtual assistants and chatbots in BFSI include account management, frequent customer alerts and reminders, credit and loan application updates, branch and ATM locators, insurance applications, and customer surveys. It also benefits customers in terms of financial advice, 24/7 access, product cross-selling, and payment transactions.
North America to account for the largest market size during the forecast period
North America is expected to have the largest market share in the conversational AI market. North America is one of the leading markets for Conversational AI in terms of market share. Organizations in various countries of this region have leveraged AI, ML, and deep learning technologies as a part of their ongoing business process to stay ahead in the market. The countries have a well-established economy, which enables conversational AI vendors to invest in new technologies. Furthermore, the region is regarded as the center of innovation where IT giants are rolling out new offerings, and aggressive collaborations are taking place pertaining to the conversational AI market.
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 Executives: 50%, Directors: 30%, and Others: 20%
 By Region: North America: 40%, Asia Pacific: 30%, Europe: 20%, Middle East & Africa: 5%, Latin America: 5%
The report includes the study of key players offering Conversational AI solutions and services. It profiles major vendors in the global Conversational AI market. The major vendors in the global Conversational AI market include IBM (US), Microsoft (US), Google (US), AWS (US), Artificial Solutions (Sweden), Baidu (China), SAP (Germany), Oracle (US), OpenAI (US), Kore.ai (US), LivePerson (US), Avaamo (US), SoundHound (US), Kasisto (US), MindMeld (US), Solvvy (US), Creative Virtual (UK), Pypestream (US) Saarthi.ai (India), Inbenta (US), Conversica (US), Haptik (India), Gupshup (US), Cognigy (Germany), Yellow.ai (US), AssemblyAI (US), Senseforth.ai (US), Rasa (Germany), Rulai (US), Exceed.ai (US), Clinc (US), and Laiye (China).
Research Coverage
The market study covers the Conversational AI market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as offering, business function, channel, technology, conversational interface, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
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 better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:

• Analysis of key drivers (rising demand to embrace AI-powered digital experience across government sector, Growing focus on customer engagement and retention), restraints (privacy and security breaches), opportunities (increasing usage of generative models in Conversational AI, rising demand of conversational commerce for better purchasing experience and streamline business process), and challenges (apprehensiveness over disclosing personal or sensitive information) influencing the growth of the Conversational AI market

• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Conversational AI Market

• Market Development: Comprehensive information about lucrative markets – the report analyses the Conversational AI Market market across varied regions

• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Conversational AI Market strategies. The report also helps stakeholders understand the speech analytics and NLP market and provides them with information on key market drivers, restraints, challenges, and opportunities

• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like IBM (US), Microsoft (US), Google (US), AWS (US), Artificial Solutions (Sweden), Baidu (China), SAP (Germany), Oracle (US), OpenAI (US), Kore.ai (US), LivePerson (US), Avaamo (US), SoundHound (US), Kasisto (US), MindMeld (US), Solvvy (US), Creative Virtual (UK), Pypestream (US) Saarthi.ai (India), Inbenta (US), Conversica (US), Haptik (India), Gupshup (US), Cognigy (Germany), Yellow.ai (US), AssemblyAI (US), Senseforth.ai (US), Rasa (Germany), Rulai (US), Exceed.ai (US), Clinc (US), and Laiye (China) among others in the conversational AI Market



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Table of Contents

1 INTRODUCTION 40
1.1 STUDY OBJECTIVES 40
1.2 MARKET DEFINITION 40
1.2.1 INCLUSIONS AND EXCLUSIONS 41
1.3 MARKET SCOPE 42
1.3.1 MARKET SEGMENTATION 42
1.3.2 REGIONS COVERED 42
1.4 YEARS CONSIDERED 43
1.5 CURRENCY CONSIDERED 43
1.6 STAKEHOLDERS 43
1.7 SUMMARY OF CHANGES 44
1.7.1 IMPACT OF RECESSION 44
2 RESEARCH METHODOLOGY 45
2.1 RESEARCH DATA 45
FIGURE 1 CONVERSATIONAL AI MARKET: RESEARCH DESIGN 45
2.1.1 SECONDARY DATA 46
2.1.2 PRIMARY DATA 46
TABLE 1 PRIMARY INTERVIEWS 46
2.1.2.1 Breakup of primary profiles 47
2.1.2.2 Key industry insights 47
2.2 MARKET BREAKUP AND DATA TRIANGULATION 48
FIGURE 2 DATA TRIANGULATION 48
2.3 MARKET SIZE ESTIMATION 49
FIGURE 3 CONVERSATIONAL AI MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES 49
2.3.1 TOP-DOWN APPROACH 49
2.3.2 BOTTOM-UP APPROACH 50
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 1 (SUPPLY SIDE): REVENUE FROM SOLUTIONS/SERVICES 50
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 2, BOTTOM UP (SUPPLY SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS/SERVICES 51
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 3, BOTTOM UP (SUPPLY SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS/SERVICES 52
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 4, BOTTOM UP (DEMAND SIDE): SHARE OF CONVERSATIONAL AI THROUGH OVERALL CONVERSATIONAL AI SPENDING 52
2.4 MARKET FORECAST 53
TABLE 2 FACTOR ANALYSIS 53
2.5 COMPANY EVALUATION MATRIX METHODOLOGY 54

2.6 START-UP/SME EVALUATION MATRIX METHODOLOGY 55
FIGURE 8 START-UP/SME EVALUATION MATRIX: CRITERIA WEIGHTAGE 55
2.7 RESEARCH ASSUMPTIONS 56
2.8 STUDY LIMITATIONS 57
2.9 IMPACT OF RECESSION ON GLOBAL CONVERSATIONAL AI MARKET 58
3 EXECUTIVE SUMMARY 59
TABLE 3 GLOBAL CONVERSATIONAL AI MARKET SIZE AND GROWTH RATE, 2018–2022 (USD MILLION, Y-O-Y%) 60
TABLE 4 GLOBAL CONVERSATIONAL AI MARKET SIZE AND GROWTH RATE, 2023–2028 (USD MILLION, Y-O-Y%) 60
FIGURE 9 SOLUTIONS SEGMENT TO DOMINATE MARKET IN 2023 61
FIGURE 10 TRAINING AND CONSULTING TO HOLD LARGEST MARKET SHARE IN 2023 61
FIGURE 11 CHATBOTS TO DOMINATE MARKET, BY CONVERSATIONAL INTERFACE, IN 2023 61
FIGURE 12 ML AND DEEP LEARNING SEGMENT TO LEAD MARKET, BY TECHNOLOGY, IN 2023 62
FIGURE 13 MOBILE APPS SEGMENT TO DOMINATE MARKET IN 2023 62
FIGURE 14 SALES AND MARKETING TO HOLD LARGEST MARKET SHARE, BY BUSINESS FUNCTION (2023) 62
FIGURE 15 SALES AND MARKETING, BY APPLICATION: CUSTOMER ENGAGEMENT AND RETENTION TO COMMAND LARGEST SHARE, 2023 63
FIGURE 16 FINANCE AND ACCOUNTING, BY APPLICATION: CUSTOMER SUPPORT AND PROCUREMENT MANAGEMENT TO GARNER LEADING SHARES, 2023 63
FIGURE 17 HR, BY APPLICATION: EMPLOYEE ENGAGEMENT AND ONBOARDING TO DOMINATE APPLICATIONS MARKET, 2023 64
FIGURE 18 OPERATIONS AND SUPPLY CHAIN, BY APPLICATION: WORKFLOW OPTIMIZATION SEGMENT TO DOMINATE MARKET, 2023 64
FIGURE 19 ITSM, BY APPLICATION: INCIDENT MANAGEMENT AND COST OPTIMIZATION TO REGISTER LARGEST MARKET SHARES, 2023 65
FIGURE 20 HEALTHCARE AND LIFE SCIENCES SEGMENT TO GROW AT HIGHEST CAGR IN 2023 65
FIGURE 21 GEOGRAPHICAL SNAPSHOT: NORTH AMERICA TO COMMAND LARGEST MARKET SHARE IN 2023 66
4 PREMIUM INSIGHTS 67
4.1 ATTRACTIVE OPPORTUNITIES IN CONVERSATIONAL AI MARKET 67
FIGURE 22 RISING DEMAND TO EMBRACE AI-POWERED DIGITAL EXPERIENCE ACROSS GOVERNMENT SECTOR TO DRIVE MARKET GROWTH 67
4.2 OVERVIEW OF RECESSION IMPACT ON CONVERSATIONAL AI MARKET 68
FIGURE 23 CONVERSATIONAL AI MARKET TO WITNESS MINOR DECLINE IN Y-O-Y GROWTH IN 2023 68
4.3 CONVERSATIONAL AI MARKET: TOP THREE BUSINESS FUNCTIONS 68
FIGURE 24 HR BUSINESS FUNCTION SEGMENT TO GROW AT HIGHEST CAGR 68
4.4 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY OFFERING AND VERTICAL 69
FIGURE 25 CONVERSATIONAL AI SOLUTIONS AND BFSI VERTICAL TO HOLD LARGEST MARKET SHARES IN NORTH AMERICA IN 2023 69
4.5 CONVERSATIONAL AI MARKET: BY REGION 69
FIGURE 26 NORTH AMERICA TO HOLD LARGEST MARKET SHARE IN 2023 69
5 MARKET OVERVIEW AND INDUSTRY TRENDS 70
5.1 INTRODUCTION 70
5.2 CONVERSATIONAL AI: EVOLUTION 70
FIGURE 27 EVOLUTION OF CONVERSATIONAL AI 70
5.3 CONVERSATIONAL AI: ARCHITECTURE 71
FIGURE 28 CONVERSATIONAL AI: HIGH-LEVEL ARCHITECTURE OVERVIEW 72
5.4 MARKET DYNAMICS 73
FIGURE 29 CONVERSATIONAL AI MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 73
5.4.1 DRIVERS 73
5.4.1.1 Increasing demand for AI-powered customer support services 73
5.4.1.2 Omnichannel deployment and reduced chatbot development cost 74
5.4.1.3 Growing focus on customer engagement and retention 74
5.4.1.4 Rising demand to embrace AI-powered digital experience across government sector 75
5.4.2 RESTRAINTS 75
5.4.2.1 Privacy and security breaches 75
5.4.2.2 Limitations of voice command authentication 75
5.4.3 OPPORTUNITIES 76
5.4.3.1 Increasing usage of generative models in conversational AI 76
5.4.3.2 Rising demand for conversational commerce for better purchasing experience and streamlined business processes 76
5.4.3.3 Integration of advanced AI capabilities to add value to existing conversational AI offerings 77
5.4.4 CHALLENGES 77
5.4.4.1 Apprehensiveness over disclosing personal or sensitive information 77
5.4.4.2 Lack of accuracy in resolving queries 77
5.4.4.3 Inability to effectively recognize customer intent and behavior 77
5.4.4.4 Dearth of awareness 78
5.5 CONVERSATIONAL AI MARKET: ECOSYSTEM 78
TABLE 5 CONVERSATIONAL AI MARKET: ECOSYSTEM 78
5.6 CASE STUDY ANALYSIS 80
5.6.1 BFSI 80
5.6.1.1 Case Study 1: Nova KBM Bank provides overall customer self-service with AI-powered contact centers 80
5.6.1.2 Case Study 2: Florida Blue provides members with visual IVR support using Kore.ai XO Platform 80
5.6.1.3 Case Study 3: HSBC implemented LivePerson’s Conversation Builder platform to automate customer services queries and improve agent attrition 81

5.6.2 HEALTHCARE AND LIFE SCIENCES 81
5.6.2.1 Case Study 1: Conversational AI helped UCHealth make healthcare more accessible for a large patient network 81
5.6.2.2 Case Study 2: HealthKart uses conversational AI to offer workouts on-demand 82
5.6.2.3 Case Study 3: Max Life Insurance Company harnesses conversational AI to automate email-based customer support 82
5.6.3 TELECOM 83
5.6.3.1 Case Study 1: Haptik increases local queries by 2.5X and decreases human interventions by 80% by utilizing Microsoft Azure Machine Translation models 83
5.6.3.2 Case Study 2: Telenor improves customer experience using conversational AI solution Telmi 84
5.6.4 TRAVEL AND HOSPITALITY 84
5.6.4.1 Case Study 1: Indigo boosts customer satisfaction to 87% with Yellow.ai conversational AI platform 84
5.6.4.2 Case Study 2: Equinox experienced a significant increase in leads with Haptik 85
5.6.5 IT AND ITES 85
5.6.5.1 Case Study 1: IHS Markit uses Conversica Intelligent Virtual Assistants to drive revenue opportunities 85
5.6.5.2 Case Study 2: CSG projects ROI of USD 39 million by implementing Open Question 86
5.6.6 RETAIL AND E-COMMERCE 86
5.6.6.1 Case Study 1: Tata CLiQ increased monthly sales by 10X ROI by leveraging Gupshup’s WhatsApp Business Solution 86
5.6.6.2 Case Study 2: Pepperfry uses Pep, an AI-powered chatbot, to improve customer experience 87
5.6.7 MEDIA AND ENTERTAINMENT 88
5.6.7.1 Case Study 1: Linden Lab successfully boosts customer support with Haptik conversational AI solution 88
5.6.7.2 Case Study 2: SKY launched an automated conversational bot with the help of LivePerson’s Conversational Cloud 88
5.6.8 ENERGY AND UTILITIES 89
5.6.8.1 Case Study 1: ENN transitions to automated AI with IBM Watson Assistant 89
5.6.8.2 Case Study 2: Shell implemented Teneo platform to build digital employees to answer complex questions 90
5.6.9 AUTOMOTIVE AND TRANSPORTATION 90
5.6.9.1 Case Study 1: Conversational AI from Rezo for automobile company CarDekho 90
5.6.9.2 Case Study 2: Skoda deployed Teneo to deliver superior customer service experience, enhance customer journey, and improve website conversion rates 91
5.6.10 GOVERNMENT 91
5.6.10.1 Case Study 1: State of New Jersey and IBM Consulting help citizens more efficiently with IBM virtual agents 91

5.6.11 EDUCATION 92
5.6.11.1 Case Study 1: Doubtnut increases learner engagement by 260% with Gupshup conversational AI solution 92
5.7 TECHNOLOGY ANALYSIS 92
5.7.1 RELATED TECHNOLOGY 92
5.7.1.1 Machine Learning and Deep Learning 92
5.7.1.2 Natural Language Processing 93
5.7.1.3 Natural Language Understanding 93
5.7.1.4 Automated Speech Recognition 93
5.7.2 ALLIED TECHNOLOGIES 94
5.7.2.1 IoT 94
5.7.2.2 Big Data 94
5.7.2.3 AR/VR/Metaverse 94
5.8 SUPPLY/VALUE CHAIN ANALYSIS 95
FIGURE 30 SUPPLY/VALUE CHAIN ANALYSIS 95
5.9 PORTER’S FIVE FORCES ANALYSIS 96
FIGURE 31 PORTER’S FIVE FORCES ANALYSIS 96
TABLE 6 PORTER’S FIVE FORCES ANALYSIS 96
5.9.1 THREAT FROM NEW ENTRANTS 97
5.9.2 THREAT FROM SUBSTITUTES 97
5.9.3 BARGAINING POWER OF SUPPLIERS 97
5.9.4 BARGAINING POWER OF BUYERS 97
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 97
5.10 PRICING MODEL ANALYSIS 98
TABLE 7 CONVERSATIONAL AI MARKET: PRICING MODEL ANALYSIS, 2023 98
5.11 TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS 100
FIGURE 32 CONVERSATIONAL AI MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS 100
5.12 PATENT ANALYSIS 101
5.12.1 METHODOLOGY 101
5.12.2 DOCUMENT TYPE 101
TABLE 8 PATENTS FILED, 2021–2023 101
5.12.3 INNOVATION AND PATENT APPLICATIONS 101
FIGURE 33 TOTAL NUMBER OF PATENTS GRANTED, 2021–2023 101
5.12.3.1 Top applicants 102
FIGURE 34 TOP TEN COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS, 2021–2023 102
TABLE 9 TOP TEN PATENT OWNERS, 2021–2023 102
5.13 KEY CONFERENCES & EVENTS, 2023–2024 103
TABLE 10 DETAILED LIST OF CONFERENCES & EVENTS, 2023–2024 103
5.14 REGULATORY LANDSCAPE 104
TABLE 11 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 104
TABLE 12 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 104
TABLE 13 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 105
TABLE 14 MIDDLE EAST AND AFRICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 106
TABLE 15 LATIN AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 106
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 107
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS 107
FIGURE 35 KEY STAKEHOLDERS IN BUYING BEHAVIOR: TOP THREE APPLICATIONS 107
TABLE 16 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%) 107
5.15.2 BUYING CRITERIA 108
FIGURE 36 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 108
TABLE 17 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 108
6 CONVERSATIONAL AI MARKET, BY OFFERING 109
6.1 INTRODUCTION 110
6.1.1 OFFERINGS: CONVERSATIONAL AI MARKET DRIVERS 110
FIGURE 37 SERVICES SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 110
TABLE 18 CONVERSATIONAL AI MARKET, BY OFFERING, 2018–2022 (USD MILLION) 110
TABLE 19 CONVERSATIONAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 111
6.2 SOLUTIONS 111
6.2.1 ENHANCED BUSINESS OPERATIONS AND OPERATIONAL EFFECTIVENESS TO DRIVE DEMAND FOR SOLUTIONS 111
TABLE 20 CONVERSATIONAL AI SOLUTIONS MARKET, BY REGION, 2018–2022 (USD MILLION) 111
TABLE 21 CONVERSATIONAL AI SOLUTIONS MARKET, BY REGION, 2023–2028 (USD MILLION) 112
6.3 SERVICES 112
FIGURE 38 SYSTEM INTEGRATION AND IMPLEMENTATION TO REGISTER HIGHEST CAGR IN 2023 112
TABLE 22 CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION) 113
TABLE 23 CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION) 113
TABLE 24 CONVERSATIONAL AI SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION) 113
TABLE 25 CONVERSATIONAL AI SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION) 113
6.3.1 TRAINING AND CONSULTING 114
6.3.1.1 Training and consulting services play a crucial role in managing operations and technology updates 114
TABLE 26 TRAINING AND CONSULTING SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION) 114
TABLE 27 TRAINING AND CONSULTING SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION) 114
6.3.2 SYSTEM INTEGRATION AND IMPLEMENTATION 115
6.3.2.1 System integration and implementation services to gain traction due to the rising need to ensure effective system communication 115
TABLE 28 SYSTEM INTEGRATION AND IMPLEMENTATION SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION) 115
TABLE 29 SYSTEM INTEGRATION AND IMPLEMENTATION SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION) 115
6.3.3 SUPPORT AND MAINTENANCE 116
6.3.3.1 Demand for support and maintenance services to increase with rising conversational AI deployment 116
TABLE 30 SUPPORT AND MAINTENANCE SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION) 116
TABLE 31 SUPPORT AND MAINTENANCE SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION) 116
7 CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION 117
7.1 INTRODUCTION 118
7.1.1 BUSINESS FUNCTION: CONVERSATIONAL AI MARKET DRIVERS 118
FIGURE 39 SALES AND MARKETING SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023 118
TABLE 32 CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2018–2022 (USD MILLION) 119
TABLE 33 CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 119
7.2 SALES AND MARKETING 119
7.2.1 GROWING NEED TO RECOGNIZE CUSTOMER PURCHASING PATTERNS TO BOOST DEMAND FOR CONVERSATIONAL AI SOLUTIONS 119
TABLE 34 CONVERSATIONAL AI MARKET FOR SALES AND MARKETING, BY REGION, 2018–2022 (USD MILLION) 120
TABLE 35 CONVERSATIONAL AI MARKET FOR SALES AND MARKETING, BY REGION, 2023–2028 (USD MILLION) 120
7.2.2 SALES AND MARKETING APPLICATIONS 120
FIGURE 40 CUSTOMER ENGAGEMENT AND RETENTION TO HOLD LARGEST SHARE IN 2023 120
TABLE 36 CONVERSATIONAL AI MARKET FOR SALES AND MARKETING, BY APPLICATION, 2018–2022 (USD MILLION) 121
TABLE 37 CONVERSATIONAL AI MARKET FOR SALES AND MARKETING, BY APPLICATION, 2023–2028 (USD MILLION) 121
7.2.2.1 Customer engagement and retention 121
7.2.2.2 Branding and advertisement 122
7.2.2.3 Campaign management 122
7.2.2.4 Personalized recommendations 122
7.2.2.5 Other sales and marketing applications 122

7.3 FINANCE AND ACCOUNTING 123
7.3.1 SUPPORT FOR TRACKING OUTSTANDING INVOICES AND AUTOMATING FOLLOW-UPS TO DRIVE EMPHASIS ON CONVERSATIONAL AI 123
TABLE 38 CONVERSATIONAL AI MARKET FOR FINANCE AND ACCOUNTING, BY REGION, 2018–2022 (USD MILLION) 123
TABLE 39 CONVERSATIONAL AI MARKET FOR FINANCE AND ACCOUNTING, BY REGION, 2023–2028 (USD MILLION) 123
7.3.2 FINANCE AND ACCOUNTING APPLICATIONS 124
FIGURE 41 CUSTOMER SUPPORT SEGMENT TO DOMINATE MARKET IN 2023 124
TABLE 40 CONVERSATIONAL AI MARKET FOR FINANCE AND ACCOUNTING, BY APPLICATION, 2018–2022 (USD MILLION) 124
TABLE 41 CONVERSATIONAL AI MARKET FOR FINANCE AND ACCOUNTING, BY APPLICATION, 2023–2028 (USD MILLION) 124
7.3.2.1 Customer support 125
7.3.2.2 Procurement management 125
7.3.2.3 Expense tracking and reporting 125
7.3.2.4 Data privacy and compliance 125
7.3.2.5 Other finance and accounting applications 125
7.4 HR 126
7.4.1 NEED TO AUTOMATE EMPLOYEE ENGAGEMENT AND MANAGE COMPLEX ONBOARDING PROCESSES TO DRIVE ADOPTION 126
TABLE 42 CONVERSATIONAL AI MARKET FOR HR, BY REGION, 2018–2022 (USD MILLION) 126
TABLE 43 CONVERSATIONAL AI MARKET FOR HR, BY REGION, 2023–2028 (USD MILLION) 126
7.4.2 HR APPLICATIONS 127
FIGURE 42 EMPLOYEE ENGAGEMENT AND ONBOARDING SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023 127
TABLE 44 CONVERSATIONAL AI MARKET FOR HR, BY APPLICATION, 2018–2022 (USD MILLION) 127
TABLE 45 CONVERSATIONAL AI MARKET FOR HR, BY APPLICATION, 2023–2028 (USD MILLION) 127
7.4.2.1 Employee engagement and onboarding 128
7.4.2.2 Performance management 128
7.4.2.3 Document management 128
7.4.2.4 Leave management 128
7.4.2.5 Other HR applications 129
7.5 OPERATIONS AND SUPPLY CHAIN 129
7.5.1 EFFICIENCY IN HANDLING COMPLEX OPERATIONS AND IMPROVED PRODUCTIVITY TO BOOST ADOPTION OF CONVERSATIONAL AI 129
TABLE 46 CONVERSATIONAL AI MARKET FOR OPERATIONS AND SUPPLY CHAIN, BY REGION, 2018–2022 (USD MILLION) 129
TABLE 47 CONVERSATIONAL AI MARKET FOR OPERATIONS AND SUPPLY CHAIN, BY REGION, 2023–2028 (USD MILLION) 130

7.5.2 OPERATIONS AND SUPPLY CHAIN APPLICATIONS 130
FIGURE 43 WORKFLOW OPTIMIZATION SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023 130
TABLE 48 CONVERSATIONAL AI MARKET FOR OPERATIONS AND SUPPLY CHAIN, BY APPLICATION, 2018–2022 (USD MILLION) 130
TABLE 49 CONVERSATIONAL AI MARKET FOR OPERATIONS AND SUPPLY CHAIN, BY APPLICATION, 2023–2028 (USD MILLION) 131
7.5.2.1 Workflow optimization 131
7.5.2.2 Scheduling and routing 131
7.5.2.3 Inventory management 131
7.5.2.4 Vendor management 131
7.5.2.5 Other operations and supply chain applications 132
7.6 ITSM 132
7.6.1 POTENTIAL TO STREAMLINE IT PROCESSES AND HASTEN QUERY RESOLUTION TO BOOST ADOPTION 132
TABLE 50 CONVERSATIONAL AI MARKET FOR ITSM, BY REGION, 2018–2022 (USD MILLION) 132
TABLE 51 CONVERSATIONAL AI MARKET FOR ITSM, BY REGION, 2023–2028 (USD MILLION) 132
7.6.2 ITSM APPLICATIONS 133
FIGURE 44 INCIDENT MANAGEMENT TO DOMINATE MARKET TILL 2028 133
TABLE 52 CONVERSATIONAL AI MARKET FOR ITSM, BY APPLICATION, 2018–2022 (USD MILLION) 133
TABLE 53 CONVERSATIONAL AI MARKET FOR ITSM, BY APPLICATION, 2023–2028 (USD MILLION) 133
7.6.2.1 Incident management 134
7.6.2.2 Cost optimization 134
7.6.2.3 Query handling 134
7.6.2.4 Knowledge management 134
7.6.2.5 Other ITSM applications 135
8 CONVERSATIONAL AI MARKET, BY CHANNEL 136
8.1 INTRODUCTION 137
8.2 CHANNEL: CONVERSATIONAL AI MARKET DRIVERS 137
FIGURE 45 MESSAGING APPS SEGMENT EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 137
TABLE 54 CONVERSATIONAL AI MARKET, BY CHANNEL, 2018–2022 (USD MILLION) 138
TABLE 55 CONVERSATIONAL AI MARKET, BY CHANNEL, 2023–2028 (USD MILLION) 138
8.3 MOBILE APPS 138
8.3.1 PROLIFERATION OF SMARTPHONES TO OFFER OPPORTUNITIES FOR SOLUTION DEPLOYMENT 138
TABLE 56 CONVERSATIONAL AI MARKET FOR MOBILE APPS, BY REGION, 2018–2022 (USD MILLION) 139
TABLE 57 CONVERSATIONAL AI MARKET FOR MOBILE APPS, BY REGION, 2023–2028 (USD MILLION) 139

8.4 TELEPHONES 139
8.4.1 NEED TO FACILITATE CONVERSATIONS BETWEEN CUSTOMERS AND BUSINESSES TO BOOST ADOPTION OF CONVERSATIONAL AI 139
TABLE 58 CONVERSATIONAL AI MARKET FOR TELEPHONES, BY REGION, 2018–2022 (USD MILLION) 140
TABLE 59 CONVERSATIONAL AI MARKET FOR TELEPHONES, BY REGION, 2023–2028 (USD MILLION) 140
8.5 MESSAGING APPS 140
8.5.1 AI USE IN MESSAGING APPS SHOWS STRONG POTENTIAL TO ENHANCE CONSUMER EXPERIENCE 140
TABLE 60 CONVERSATIONAL AI MARKET FOR MESSAGING APPS, BY REGION, 2018–2022 (USD MILLION) 141
TABLE 61 CONVERSATIONAL AI MARKET FOR MESSAGING APPS, BY REGION, 2023–2028 (USD MILLION) 141
8.6 EMAILS AND WEBSITES 141
8.6.1 GROWING NEED TO PROVIDE PRODUCT RECOMMENDATIONS TO WEBSITE VISITORS TO DRIVE MARKET GROWTH 141
TABLE 62 CONVERSATIONAL AI MARKET FOR EMAILS AND WEBSITES, BY REGION, 2018–2022 (USD MILLION) 142
TABLE 63 CONVERSATIONAL AI MARKET FOR EMAILS AND WEBSITES, BY REGION, 2023–2028 (USD MILLION) 142
9 CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE 143
9.1 INTRODUCTION 144
9.1.1 CONVERSATIONAL INTERFACE: CONVERSATIONAL AI MARKET DRIVERS 144
FIGURE 46 CHATBOTS SEGMENT TO GROW AT HIGHEST CAGR TILL 2028 144
TABLE 64 CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2018–2022 (USD MILLION) 144
TABLE 65 CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2023–2028 (USD MILLION) 145
9.2 CHATBOTS 145
9.2.1 USE OF AI-BASED CHATBOTS TO AUTOMATE CONVERSATIONS TO REGISTER RAPID GROWTH 145
TABLE 66 CONVERSATIONAL AI MARKET FOR CHATBOTS, BY REGION, 2018–2022 (USD MILLION) 145
TABLE 67 CONVERSATIONAL AI MARKET FOR CHATBOTS, BY REGION, 2023–2028 (USD MILLION) 146
9.3 IVR 146
9.3.1 GROWING ADOPTION ACROSS ENTERPRISES AND INDUSTRIES TO BOOST MARKET 146
TABLE 68 CONVERSATIONAL AI MARKET FOR IVR, BY REGION, 2018–2022 (USD MILLION) 146
TABLE 69 CONVERSATIONAL AI MARKET FOR IVR, BY REGION, 2023–2028 (USD MILLION) 147
9.4 IVA 147
9.4.1 RISING EMPHASIS ON CONSUMER CONNECTION AND SERVICE TO PROPEL ADOPTION OF IVA 147
TABLE 70 CONVERSATIONAL AI MARKET FOR IVA, BY REGION, 2018–2022 (USD MILLION) 147
TABLE 71 CONVERSATIONAL AI MARKET FOR IVA, BY REGION, 2023–2028 (USD MILLION) 148
10 CONVERSATIONAL AI MARKET, BY TECHNOLOGY 149
10.1 INTRODUCTION 150
10.2 TECHNOLOGY: CONVERSATIONAL AI MARKET DRIVERS 150
FIGURE 47 ML AND DEEP LEARNING TO SHOW HIGHEST GROWTH OVER FORECAST PERIOD 150
TABLE 72 CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2018–2022 (USD MILLION) 150
TABLE 73 CONVERSATIONAL AI MARKET, TECHNOLOGY, 2023–2028 (USD MILLION) 151
10.3 NLP 151
10.3.1 NEED TO RECOGNIZE HUMAN VOICES AND HANDLE QUERIES EFFECTIVELY TO DRIVE GROWTH OF NLP 151
TABLE 74 CONVERSATIONAL AI MARKET FOR NLP, BY REGION, 2018–2022 (USD MILLION) 151
TABLE 75 CONVERSATIONAL AI MARKET FOR NLP, BY REGION, 2023–2028 (USD MILLION) 152
10.4 ML AND DEEP LEARNING 152
10.4.1 GROWING FOCUS ON BUILDING AND MAINTAINING LOW-CODE APPS TO DRIVE MARKET 152
TABLE 76 CONVERSATIONAL AI MARKET FOR ML AND DEEP LEARNING, BY REGION, 2018–2022 (USD MILLION) 152
TABLE 77 CONVERSATIONAL AI MARKET FOR ML AND DEEP LEARNING, BY REGION, 2023–2028 (USD MILLION) 153
10.5 ASR 153
10.5.1 RISING NEED TO HANDLE CUSTOMER SERVICES AND RESOLVE CUSTOMER QUERIES ACROSS LARGE ENTERPRISES TO BOOST GROWTH 153
TABLE 78 CONVERSATIONAL AI MARKET FOR ASR, BY REGION, 2018–2022 (USD MILLION) 153
TABLE 79 CONVERSATIONAL AI MARKET FOR ASR, BY REGION, 2023–2028 (USD MILLION) 154
10.6 OTHER TECHNOLOGIES 154
TABLE 80 CONVERSATIONAL AI MARKET FOR OTHER TECHNOLOGIES, BY REGION, 2018–2022 (USD MILLION) 155
TABLE 81 CONVERSATIONAL AI MARKET FOR OTHER TECHNOLOGIES, BY REGION, 2023–2028 (USD MILLION) 155
11 CONVERSATIONAL AI MARKET, BY VERTICAL 156
11.1 INTRODUCTION 157
11.1.1 VERTICALS: CONVERSATIONAL AI MARKET DRIVERS 157
FIGURE 48 HEALTHCARE AND LIFE SCIENCES VERTICAL TO REGISTER FASTEST GROWTH 158
11.1.2 MAJOR USE CASES: BY VERTICAL 158
TABLE 82 CONVERSATIONAL AI MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 160
TABLE 83 CONVERSATIONAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 160
11.2 BFSI 161
11.2.1 BFSI TO REGISTER HIGHEST ADOPTION OF CONVERSATIONAL AI 161
TABLE 84 CONVERSATIONAL AI MARKET FOR BFSI, BY REGION, 2018–2022 (USD MILLION) 161
TABLE 85 CONVERSATIONAL AI MARKET FOR BFSI, BY REGION, 2023–2028 (USD MILLION) 161
11.3 RETAIL AND ECOMMERCE 162
11.3.1 INCREASING DEPLOYMENT OF CONVERSATIONAL AI SOLUTIONS TARGETED AT BOOSTING ENGAGEMENT AND LOYALTY 162
TABLE 86 CONVERSATIONAL AI MARKET FOR RETAIL AND ECOMMERCE, BY REGION, 2018–2022 (USD MILLION) 162
TABLE 87 CONVERSATIONAL AI MARKET FOR RETAIL AND ECOMMERCE, BY REGION, 2023–2028 (USD MILLION) 162
11.4 TELECOM 163
11.4.1 DRIVE TO IMPROVE CONTACT CENTER EFFICIENCY AND REDUCE COSTS TO AUGMENT DEMAND FOR CONVERSATIONAL AI 163
TABLE 88 CONVERSATIONAL AI MARKET FOR TELECOM, BY REGION, 2018–2022 (USD MILLION) 163
TABLE 89 CONVERSATIONAL AI MARKET FOR TELECOM, BY REGION, 2023–2028 (USD MILLION) 163
11.5 MEDIA AND ENTERTAINMENT 164
11.5.1 RISING DEMAND FOR PERSONALIZED CUSTOMER EXPERIENCE TO INCREASE ADOPTION OF CONVERSATIONAL AI 164
TABLE 90 CONVERSATIONAL AI MARKET FOR MEDIA AND ENTERTAINMENT, BY REGION, 2018–2022 (USD MILLION) 164
TABLE 91 CONVERSATIONAL AI MARKET FOR MEDIA AND ENTERTAINMENT, BY REGION, 2023–2028 (USD MILLION) 164
11.6 HEALTHCARE AND LIFE SCIENCES 165
11.6.1 EMPHASIS ON IMPROVING PATIENT MANAGEMENT, MONITORING, AND EXPERIENCE TO SUPPORT USAGE OF CONVERSATIONAL AI 165
TABLE 92 CONVERSATIONAL AI MARKET FOR HEALTHCARE AND LIFE SCIENCES, BY REGION, 2018–2022 (USD MILLION) 165
TABLE 93 CONVERSATIONAL AI MARKET FOR HEALTHCARE AND LIFE SCIENCES, BY REGION, 2023–2028 (USD MILLION) 165
11.7 TRAVEL AND HOSPITALITY 166
11.7.1 EMPHASIS ON AUTOMATING BOOKING AND IMPROVING SCHEDULE MANAGEMENT INDICATES POTENTIAL FOR AI 166
TABLE 94 CONVERSATIONAL AI MARKET FOR TRAVEL AND HOSPITALITY, BY REGION, 2018–2022 (USD MILLION) 166
TABLE 95 CONVERSATIONAL AI MARKET FOR TRAVEL AND HOSPITALITY, BY REGION, 2023–2028 (USD MILLION) 166
11.8 AUTOMOTIVE AND TRANSPORTATION 167
11.8.1 FOCUS ON DRIVING CUSTOMER AWARENESS ABOUT CAR RELEASES, TEST DRIVES, AND NEW SYSTEMS TO PROPEL MARKET GROWTH 167
TABLE 96 CONVERSATIONAL AI MARKET FOR AUTOMOTIVE AND TRANSPORTATION, BY REGION, 2018–2022 (USD MILLION) 167
TABLE 97 CONVERSATIONAL AI MARKET FOR AUTOMOTIVE AND TRANSPORTATION, BY REGION, 2023–2028 (USD MILLION) 167
11.9 IT AND ITES 168
11.9.1 HIGH REQUIREMENTS FOR CUSTOMER CARE AND INTENSE COMPETITION TO PUSH USERS TOWARD ADVANCED SOLUTIONS 168
TABLE 98 CONVERSATIONAL AI MARKET FOR IT AND ITES, BY REGION, 2018–2022 (USD MILLION) 168
TABLE 99 CONVERSATIONAL AI MARKET FOR IT AND ITES, BY REGION, 2023–2028 (USD MILLION) 168
11.10 OTHER VERTICALS 169
TABLE 100 CONVERSATIONAL AI MARKET FOR OTHER VERTICALS, BY REGION, 2018–2022 (USD MILLION) 169
TABLE 101 CONVERSATIONAL AI MARKET FOR OTHER VERTICALS, BY REGION, 2023–2028 (USD MILLION) 170
12 CONVERSATIONAL AI MARKET, BY REGION 171
12.1 INTRODUCTION 172
FIGURE 49 CONVERSATIONAL AI MARKET: GEOGRAPHIC SNAPSHOT, 2023 VS. 2028 172
FIGURE 50 INDIA TO SHOW HIGHEST GROWTH DURING FORECAST PERIOD 172
TABLE 102 CONVERSATIONAL AI MARKET, BY REGION, 2018–2022 (USD MILLION) 173
TABLE 103 CONVERSATIONAL AI MARKET, BY REGION, 2023–2028 (USD MILLION) 173
12.2 NORTH AMERICA 173
12.2.1 NORTH AMERICA: CONVERSATIONAL AI MARKET DRIVERS 174
12.2.2 NORTH AMERICA: IMPACT OF RECESSION 174
FIGURE 51 NORTH AMERICA: MARKET SNAPSHOT 175
TABLE 104 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY OFFERING, 2018–2022 (USD MILLION) 175
TABLE 105 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 176
TABLE 106 NORTH AMERICA: CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION) 176
TABLE 107 NORTH AMERICA: CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION) 176
TABLE 108 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2018–2022 (USD MILLION) 176
TABLE 109 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2023–2028 (USD MILLION) 177
TABLE 110 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2018–2022 (USD MILLION) 177
TABLE 111 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 177
TABLE 112 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY CHANNEL, 2018–2022 (USD MILLION) 178
TABLE 113 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY CHANNEL, 2023–2028 (USD MILLION) 178
TABLE 114 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2018–2022 (USD MILLION) 178
TABLE 115 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 179
TABLE 116 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 179
TABLE 117 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 180
TABLE 118 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 180
TABLE 119 NORTH AMERICA: CONVERSATIONAL AI MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 180
12.2.3 US 181
12.2.3.1 Strong IT infrastructure, innovation, and initiatives to drive market growth 181
12.2.4 CANADA 181
12.2.4.1 Advent of IoT-powered digital economy to support economic growth 181
12.3 EUROPE 181
12.3.1 EUROPE: CONVERSATIONAL AI MARKET DRIVERS 182
12.3.2 EUROPE: IMPACT OF RECESSION 182
TABLE 120 EUROPE: CONVERSATIONAL AI MARKET, BY OFFERING, 2018–2022 (USD MILLION) 183
TABLE 121 EUROPE: CONVERSATIONAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 183
TABLE 122 EUROPE: CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION) 183
TABLE 123 EUROPE: CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION) 183
TABLE 124 EUROPE: CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2018–2022 (USD MILLION) 184
TABLE 125 EUROPE: CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2023–2028 (USD MILLION) 184
TABLE 126 EUROPE: CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2018–2022 (USD MILLION) 184
TABLE 127 EUROPE: CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 184
TABLE 128 EUROPE: CONVERSATIONAL AI MARKET, BY CHANNEL, 2018–2022 (USD MILLION) 185
TABLE 129 EUROPE: CONVERSATIONAL AI MARKET, BY CHANNEL, 2023–2028 (USD MILLION) 185
TABLE 130 EUROPE: CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2018–2022 (USD MILLION) 185
TABLE 131 EUROPE: CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 186
TABLE 132 EUROPE: CONVERSATIONAL AI MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 186
TABLE 133 EUROPE: CONVERSATIONAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 187
TABLE 134 EUROPE: CONVERSATIONAL AI MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 187
TABLE 135 EUROPE: CONVERSATIONAL AI MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 187
12.3.3 UK 188
12.3.3.1 Huge competition in retail to hinder customer retention and drive demand for conversational AI 188
12.3.4 GERMANY 188
12.3.4.1 Rising government support and highly skilled labor force to drive market 188
12.3.5 FRANCE 188
12.3.5.1 Rising demand for better and faster predictive results to propel AI adoption 188
12.3.6 ITALY 189
12.3.6.1 Government initiatives in education and research to support growth of conversational AI 189
12.3.7 SPAIN 189
12.3.7.1 Spain’s prominence in AI startup ecosystem to favor adoption 189
12.3.8 REST OF EUROPE 189
12.4 ASIA PACIFIC 190
12.4.1 ASIA PACIFIC: CONVERSATIONAL AI MARKET DRIVERS 190
12.4.2 ASIA PACIFIC: IMPACT OF RECESSION 190
FIGURE 52 ASIA PACIFIC: MARKET SNAPSHOT 191
TABLE 136 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY OFFERING, 2018–2022 (USD MILLION) 191
TABLE 137 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 192
TABLE 138 ASIA PACIFIC: CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION) 192
TABLE 139 ASIA PACIFIC: CONVERSATIONAL AI SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION) 192
TABLE 140 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2018–2022 (USD MILLION) 192
TABLE 141 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY CONVERSATIONAL INTERFACE, 2023–2028 (USD MILLION) 193
TABLE 142 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2018–2022 (USD MILLION) 193
TABLE 143 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 193
TABLE 144 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY CHANNEL, 2018–2022 (USD MILLION) 193
TABLE 145 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY CHANNEL, 2023–2028 (USD MILLION) 194
TABLE 146 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2018–2022 (USD MILLION) 194
TABLE 147 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION) 194
TABLE 148 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 195
TABLE 149 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 195
TABLE 150 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 196
TABLE 151 ASIA PACIFIC: CONVERSATIONAL AI MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 196
TABLE 152 ASIA PACIFIC: CONVERSATIONAL AI MARKET FOR ASEAN, BY COUNTRY, 2018–2022 (USD MILLION) 196
TABLE 153 ASIA PACIFIC: CONVERSATIONAL AI MARKET FOR ASEAN, BY COUNTRY, 2023–2028 (USD MILLION) 197
12.4.3 CHINA 197
12.4.3.1 Investments in AI landscape to propel adoption of conversational solutions 197
12.4.4 ASEAN 197
12.4.4.1 Rising need to improve business insights and growing data generation to boost demand 197
12.4.5 JAPAN 198
12.4.5.1 Advancements in innovative technologies and need to prevent data breaches to drive market 198
12.4.6 ANZ 198
12.4.6.1 Emphasis on reducing operational costs and improving customer experience to support growth 198
12.4.7 SOUTH KOREA 198
12.4.7.1 Growing government investments and support for AI startups to boost market growth 198
12.4.8 INDIA 198
12.4.8.1 Rising investments among startups and growth of AI technology to trigger conversational AI adoption 198
12.4.9 REST OF ASIA PACIFIC 199

 

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