AI Chatbots market was valued at US$ 6042.2 million in 2022 and is anticipated to reach US$ 71620 million by 2029, witnessing a CAGR of 51.0% - Valuates Reports

The global AI Chatbots market was valued at US$ 6042.2 million in 2022 and is anticipated to reach US$ 71620 million by 2029, witnessing a CAGR of 51.0% during the forecast period 2023-2029.

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A chatbot is a software application used to conduct an on-line chat conversation via text or text-to-speech, in lieu of providing direct contact with a live human agent.Designed to convincingly simulate the way a human would behave as a conversational partner, chatbot systems typically require continuous tuning and testing, and many in production remain unable to adequately converse or pass the industry standard Turing test.

AI Chatbots Market Highlights
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

The key players of global AI Chatbots market includes IBM, [24]7.ai, Google, Nuance Communications, AWS and so on. In 2019, the top 5 companies accounted for a total market share of about 33%, among which [24]7.ai is in the dominating position, with occupying nearly 9% of global market.

AI Chatbots Market Report Scope
This report aims to provide a comprehensive presentation of the global market for AI Chatbots, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding AI Chatbots.

The AI Chatbots market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global AI Chatbots market comprehensively. Regional market sizes, concerning products by type, by end user, and by players, are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the AI Chatbots companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by type, by end user, and by regions.

Key Companies
IBM
[24]7.ai
Google
Nuance Communications
AWS
LogMeIn
Inbenta
Kore.ai
Gupshup
AIVO
Yellow Messenger
CogniCor Technologies
Passage AI
Chatfuel
SmartBots.ai
AI Chatbots Market Segment by Type
Messengers
Web Widgets
Others
AI Chatbots Market Segment by End User
Large Enterprises
SMEs

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