Global Artificial Intelligence (AI) Bots Market Set to Skyrocket, Predicted to Reach USD 177.41 Billion by 2030

According to the report published by Next Move Strategy Consulting, the global Artificial Intelligence (AI) Bots Market has witnessed unprecedented growth, with estimates soaring from USD 2.77 billion in 2019 to a projected USD 177.41 billion by 2030, marking a staggering CAGR of 47.2% from 2020-2030.

Chatbots Revolutionizing Customer-Business Interactions:

Chatbots, leveraging natural language processing and machine learning techniques, have become pivotal in managing interactions between customers and businesses across various devices such as smartphones, tablets, and workstations. The demand for round-the-clock assistance has surged dramatically, positioning chatbots as an innovative solution to bridge the gap between machines and humans.

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Market Dynamics and Trends:

The outbreak of COVID-19 has catalyzed a paradigm shift towards automation as organizations grapple with workforce limitations due to widespread lockdowns. Faced with the challenge of managing workloads with reduced staff, organizations are turning to automation, and chatbots have emerged as a key enabler. The post-COVID era is expected to witness a continued surge in automation activities, driven by technologies like artificial intelligence and natural language processing, thereby bolstering the artificial intelligence bots market.

Enhancing Customer Experience through AI Bots:

The implementation of artificial intelligence bots has not only streamlined operational processes but has also elevated the customer experience. The influx of customer queries can overwhelm employees, making it challenging to extract meaningful insights from diverse feedback. Chatbots, deployed by numerous organizations, efficiently manage conversations, bridge communication gaps, and mitigate data management issues, leading to an enhanced customer experience.

Challenges and Opportunities:

While chatbots have proven effective in handling routine queries, challenges arise when faced with unusual or complex requests. Generic solutions provided by chatbots may fall short in addressing unique customer needs, often necessitating human intervention. Organizations are actively working towards refining chatbot capabilities to ensure seamless handling of diverse queries, aiming to deliver a consistently positive customer experience.

As the global landscape evolves towards increased automation and advanced technologies, the artificial intelligence bots market is poised for unprecedented growth, offering new opportunities for innovation and improved customer engagement.

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Geographical Analysis of Artificial Intelligence Bots Market:

North America:
• Leading the growth of the market.
• U.S. at the forefront of the expansion.
• 30% of U.S. adult customers make purchases through chatbots.
• Positive experiences reported by 15% of adult customers.
• 20% of U.S. customers own personal digital assistants (e.g., Google Home, Amazon Alexa).
• Increased effectiveness in human to machine interactions as AI models evolve.

Asia Pacific:
• Expected to display the highest growth rate.
• China, Japan, and India leading the market growth.
• In India, email and telephones are primary channels for business.
• Slower resolution time compared to the global average.
• Organizations in India see AI chatbots as a solution to reduce turnaround time.
• 60% of Indian customers believe AI chatbots lead to faster service.

Key Market Players:

• Alphabet Inc
• Apple Inc.
• Amazon Web Service
• Salesforce
• IBM Corporation
• HP Inc.
• Oracle Corporation
• Sap SE
• Nvidia Corporation
• Microsoft Corporation
• Intel Corporation

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About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider committed to delivering high-quality market research reports that help multinational companies triumph over their competition and increase their industry footprint by capturing a greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining, and data analytics.

We have provided services to over 1000 customers globally, including 90% of Fortune 500 companies over a decade. Our analysts constantly track various high-growth markets and identify hidden opportunities in each sector or industry. We provide one of the industry's best-quality syndicate as well as custom research reports across ten different industry verticals. We are committed to delivering high-quality research solutions in accordance with your business needs. Our industry-standard delivery solutions range from pre-consultation to after-sales services; we provide an excellent client experience and ensure the right strategic decision-making process for businesses.

This release was published on openPR.