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Conversational AI Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports
Conversational AI Market Statistics 2030The global conversational AI market size was valued at USD 5.78 billion in 2020 and is projected to reach USD 32.62 billion by 2030, registering a Compound Annual Growth Rate (CAGR) of 20.0% from 2021 to 2030.
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The conversational AI market is being driven ahead by an increase in demand for AI-powered customer support services, omnichannel implementation, and decreasing chatbot development costs. Additionally, during COVID-19, a growing emphasis on customer engagement and the demand for AI-based chatbots to stay connected and informed are significant factors enhancing conversational AI offerings. These developments are anticipated to present opportunities for companies engaged in a variety of conversational AI market verticals. The goal of conversational artificial intelligence is to enable computer programs to process, comprehend, and naturally reply to user speech and text commands. The use of touch, text, and gestures to communicate with gadgets, websites, and applications is made possible by conversation AI, an improved kind of artificial intelligence.
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Key Benefits For Stakeholders
• This study comprises analytical depiction of the conversational AI market size along with the current trends and future estimations to depict the imminent investment pockets.
• The overall conversational AI market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current conversational AI market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
• Porter's five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
• The report includes the market share of key vendors and conversational AI market trends.
Conversational AI Market Key Segments
Conversational AI Market by Component
• Platform
• Services
• Support and Maintenance
• Training and Consulting
• System Integration
Conversational AI Market by Deployment
• Cloud
• On-Premises
Conversational AI Market by Type
• IVA
• Chatbots
Conversational AI Market by Technology
• Machine Learning
• Deep Learning
• NLP
• Automated Speech Recognition
Conversational AI Market by End-User
• BFSI
• Retail & E-commerce
• Healthcare & Life Science
• Travel & Hospitality
• Telecom
• Media & Entertainment
• Others
Major Players in the Conversational AI Market
• Amazon Web Services, Inc.
• Artificial Solutions Holding ASH AB
• Baidu, Inc.
• Conversica Inc.
• Haptik
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• Google LLC
• SAP ERP
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