The Conversational AI Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Conversational AI Market?
The global Conversational AI market has seen a significant increase in its market size. From 2024 to 2025, the market size is expected to rise from $11.28 billion to $13.64 billion, reflecting a Compound Annual Growth Rate (CAGR) of 20.9%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Conversational AI Industry?
The forecasted market size of the Conversational AI Global Market Report 2024 for the year 2029 is expected to reach $34.21 billion, growing at a compound annual growth rate (CAGR) of 25.9%.
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What are the Key Growth Drivers Fueling the Conversational AI Market?
The key drivers in the conversational ai market are:
• Increasing adoption of AI-powered voice assistants and industry-specific solutions
• Enhancements in natural language processing (NLP) technology
• Rising prevalence of virtual assistants and chatbots coupled with their integration to messaging platforms
• Growing use of multimodal conversations, and influx of voice-activated devices and smart speakers.
Global Market Segmentation: Identifying Major Conversational AI Industry Segments
The conversational ai market covered in this report is segmented –
1) By Type: IVA, Chatbots
2) By Component: Platform, Services
3) By Deployment: Cloud, On-Premises
4) By Technology: Machine Learning, Deep Learning, NLP, Automated Speech Recognition
5) By End User: BFSI, Retail and E-commerce, Healthcare and Life Science, Travel and Hospitality, Telecom, Media and Entertainment, Other End-Users
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What are the Emerging Trends Shaping the Future of the Conversational AI Market?
The key trends in the industrial cleaning chemicals market are:
• The advancement of natural language processing (NLP) technologies is a key emerging trend.
• The rise of virtual assistants and chatbots is shaping the conversational AI market.
• Integration of AI with messaging platforms is becoming more prevalent.
• Multimodal conversations and voice-activated devices such as smart speakers are trending technologies.
Who Are the Top Competitors & Leading Players in the Conversational AI Market?
Major companies in the conversational ai market are:
• Google LLC
• International Business Machines Corporation (IBM)
• Amazon Web Services Inc.
• Artificial Solutions Holding ASH AB
• Baidu Inc.
• Haptik
• Microsoft Corporation
• Oracle Corporation
• SAP SE
• Conversica Inc.
• Nuance Communications Inc.
• Rasa Technologies GmbH
• Avaamo Inc.
• Kore.ai Inc.
• Cognitivescale Inc.
• Kasisto Inc.
• Creative Virtual Ltd.
• Inbenta Technologies Inc.
• Next IT Corporation
• Verint Systems Inc.
• 24/7 Customer Inc.
• Botpress
• Chatfuel
• Clinc Inc.
• DigitalGenius Inc.
• Exceed.ai
• Interactions LLC
• LivePerson Inc.
• Mindmeld Inc.
• Pypestream Inc.
Regional Dominance: Which Area Leads the Global Conversational AI Market?
North America was the largest region in the conversational AI market in 2024
