Conversational AI Market Size To Grow USD 86.42 Billion by 2032

According to a recent research report titled “Conversational AI Market (By Component: Solutions, Managed Services Professional Services; By Type: Chatbots, Intelligent Virtual Assistant; By Deployment: On-premises, Cloud; By Technology: Natural Language Processing, ML and Deep Learning, Automatic Speech Recognition; By End User: BFSI, Healthcare, IT & Telecom, Retail & eCommerce, Education, Media & Entertainment, Automotive, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032″ published by Precedence Research, the global conversational AI market size is projected to touch around USD 86.42  billion by 2032 and growing at a CAGR of 23.97% over the forecast period 2023 to 2032. This comprehensive study examines various factors and their impact on the growth of the conversational AI market.

Key Takeaways:

• North America led the global market and contributed more than 30% of revenue share in 2022.
• By Component, the on-premises segment is expected to capture the largest market share over the forecast period.
• By Type, the chatbot segment is expected to dominate the market during the forecast period.
• By Deployment, the on-premises segment is expected to capture the largest market share over the forecast period.
• By Technology, the natural language processing (NLP) segment is expected to dominate the market during the forecast period.
• By End-user, the retail & ecommerce segment is expected to lead the market growth over the projected period.

The report primarily focuses on the volume and value of the conversational AI market at the global, regional, and company levels. At the global level, the report analyzes historical data and future prospects to present an overview of the overall market size. Regionally, the study emphasizes key regions such as North America, Europe, the Middle East & Africa, Latin America, and others.

Furthermore, the research report provides specific segmentations based on regions (countries), companies, and all market segments. This analysis offers insights into the growth and revenue trends during the historical period of 2017 to 2032, as well as the projected period. By understanding these segments, it becomes possible to identify the significance of different factors that contribute to market growth.

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The research also highlights significant progressions in both organic and inorganic growth strategies within the global conversational AI market. Numerous companies are placing emphasis on new product launches, gaining product approvals, and implementing various business expansion tactics. Moreover, the report presents detailed profiles of firms operating in the conversational AI market, along with their respective market strategies. Additionally, the study concentrates on prominent industry participants, furnishing details such as company profiles, product offerings, financial updates, and noteworthy advancements.

Report Scope of the Conversational AI Market:

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Major Key Points Covered in Report:

Executive Summary: It includes key trends of the electric vehicle fuel cell market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the electric vehicle fuel cell market based on production and revenue.

Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Electric vehicle fuel cell market.

Market Segments: This part of the report discusses product, application and other segments of the electric vehicle fuel cell market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

Market Key Players

The report incorporates company profiles of key players in the market. These profiles encompass vital information such as product portfolio, key strategies, and a comprehensive SWOT analysis for each player. Additionally, the report presents a matrix illustrating the presence of each prominent player, enabling readers to gain actionable insights. This facilitates a thoughtful assessment of the market status and aids in predicting the level of competition in the conversational AI market.

Some of the prominent players in the conversational AI market include

• Oracle
• IBM
• Amazon Web Services, Inc.
• Microsoft
• Avaamo
• Nuance Communications, Inc.
• FIS
• SAP SE
• Artificial Solutions
• Kore.ai, Inc.
• Google
• Conversica, Inc.
• Jio Haptik Technologies Ltd.
• Rasa Technologies Inc.

Segments Covered in the Report:

By Component

• Solutions
• Managed Services
• Professional Services
  • Training & Consulting
  • System Integration & Implementation
  • Support & Maintenance

By Type

• Chatbots
• Intelligent Virtual Assistant (IVA)

By Deployment

• On-premises
• Cloud

By Technology

• Natural Language Processing (NLP)
• ML and Deep Learning
• Automatic Speech Recognition (ASR)

By End User

• BFSI
• Healthcare
• IT & Telecom
• Retail & eCommerce
• Education
• Media & Entertainment
• Automotive
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Table of Content:

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Conversational AI Market 

5.1. COVID-19 Landscape: Conversational AI Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Conversational AI Market, By Component

8.1. Conversational AI Market, by Component, 2023-2032

8.1.1. Solutions

8.1.1.1. Market Revenue and Forecast (2020-2032)

8.1.2. Managed Services

8.1.2.1. Market Revenue and Forecast (2020-2032)

8.1.3. Professional Services

8.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 9. Global Conversational AI Market, By Type

9.1. Conversational AI Market, by Type, 2023-2032

9.1.1. Chatbots

9.1.1.1. Market Revenue and Forecast (2020-2032)

9.1.2. Intelligent Virtual Assistant (IVA)

9.1.2.1. Market Revenue and Forecast (2020-2032)

Chapter 10. Global Conversational AI Market, By Deployment 

10.1. Conversational AI Market, by Deployment, 2023-2032

10.1.1. On-premises

10.1.1.1. Market Revenue and Forecast (2020-2032)

10.1.2. Cloud

10.1.2.1. Market Revenue and Forecast (2020-2032)

Chapter 11. Global Conversational AI Market, By Technology

11.1. Conversational AI Market, by Technology, 2023-2032

11.1.1. Natural Language Processing (NLP)

11.1.1.1. Market Revenue and Forecast (2020-2032)

11.1.2. ML and Deep Learning

11.1.2.1. Market Revenue and Forecast (2020-2032)

11.1.3. Automatic Speech Recognition (ASR)

11.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 12. Global Conversational AI Market, By End User

12.1. Conversational AI Market, by End User, 2023-2032

12.1.1. BFSI

12.1.1.1. Market Revenue and Forecast (2020-2032)

12.1.2. Healthcare

12.1.2.1. Market Revenue and Forecast (2020-2032)

12.1.3. IT & Telecom

12.1.3.1. Market Revenue and Forecast (2020-2032)

12.1.4. Retail & eCommerce

12.1.4.1. Market Revenue and Forecast (2020-2032)

12.1.5. Education

12.1.5.1. Market Revenue and Forecast (2020-2032)

12.1.6. Media & Entertainment

12.1.6.1. Market Revenue and Forecast (2020-2032)

12.1.7. Automotive

12.1.7.1. Market Revenue and Forecast (2020-2032)

12.1.8. Others

12.1.8.1. Market Revenue and Forecast (2020-2032)

Chapter 13. Global Conversational AI Market, Regional Estimates and Trend Forecast

13.1. North America

13.1.1. Market Revenue and Forecast, by Component (2020-2032)

13.1.2. Market Revenue and Forecast, by Type (2020-2032)

13.1.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.1.4. Market Revenue and Forecast, by Technology (2020-2032)

13.1.5. Market Revenue and Forecast, by End User (2020-2032)

13.1.6. U.S.

13.1.6.1. Market Revenue and Forecast, by Component (2020-2032)

13.1.6.2. Market Revenue and Forecast, by Type (2020-2032)

13.1.6.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.1.6.4. Market Revenue and Forecast, by Technology (2020-2032)

13.1.6.5. Market Revenue and Forecast, by End User (2020-2032)

13.1.7. Rest of North America

13.1.7.1. Market Revenue and Forecast, by Component (2020-2032)

13.1.7.2. Market Revenue and Forecast, by Type (2020-2032)

13.1.7.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.1.7.4. Market Revenue and Forecast, by Technology (2020-2032)

13.1.7.5. Market Revenue and Forecast, by End User (2020-2032)

13.2. Europe

13.2.1. Market Revenue and Forecast, by Component (2020-2032)

13.2.2. Market Revenue and Forecast, by Type (2020-2032)

13.2.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.2.4. Market Revenue and Forecast, by Technology (2020-2032)

13.2.5. Market Revenue and Forecast, by End User (2020-2032)

13.2.6. UK

13.2.6.1. Market Revenue and Forecast, by Component (2020-2032)

13.2.6.2. Market Revenue and Forecast, by Type (2020-2032)

13.2.6.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.2.7. Market Revenue and Forecast, by Technology (2020-2032)

13.2.8. Market Revenue and Forecast, by End User (2020-2032)

13.2.9. Germany

13.2.9.1. Market Revenue and Forecast, by Component (2020-2032)

13.2.9.2. Market Revenue and Forecast, by Type (2020-2032)

13.2.9.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.2.10. Market Revenue and Forecast, by Technology (2020-2032)

13.2.11. Market Revenue and Forecast, by End User (2020-2032)

13.2.12. France

13.2.12.1. Market Revenue and Forecast, by Component (2020-2032)

13.2.12.2. Market Revenue and Forecast, by Type (2020-2032)

13.2.12.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.2.12.4. Market Revenue and Forecast, by Technology (2020-2032)

13.2.13. Market Revenue and Forecast, by End User (2020-2032)

13.2.14. Rest of Europe

13.2.14.1. Market Revenue and Forecast, by Component (2020-2032)

13.2.14.2. Market Revenue and Forecast, by Type (2020-2032)

13.2.14.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.2.14.4. Market Revenue and Forecast, by Technology (2020-2032)

13.2.15. Market Revenue and Forecast, by End User (2020-2032)

13.3. APAC

13.3.1. Market Revenue and Forecast, by Component (2020-2032)

13.3.2. Market Revenue and Forecast, by Type (2020-2032)

13.3.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.3.4. Market Revenue and Forecast, by Technology (2020-2032)

13.3.5. Market Revenue and Forecast, by End User (2020-2032)

13.3.6. India

13.3.6.1. Market Revenue and Forecast, by Component (2020-2032)

13.3.6.2. Market Revenue and Forecast, by Type (2020-2032)

13.3.6.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.3.6.4. Market Revenue and Forecast, by Technology (2020-2032)

13.3.7. Market Revenue and Forecast, by End User (2020-2032)

13.3.8. China

13.3.8.1. Market Revenue and Forecast, by Component (2020-2032)

13.3.8.2. Market Revenue and Forecast, by Type (2020-2032)

13.3.8.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.3.8.4. Market Revenue and Forecast, by Technology (2020-2032)

13.3.9. Market Revenue and Forecast, by End User (2020-2032)

13.3.10. Japan

13.3.10.1. Market Revenue and Forecast, by Component (2020-2032)

13.3.10.2. Market Revenue and Forecast, by Type (2020-2032)

13.3.10.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.3.10.4. Market Revenue and Forecast, by Technology (2020-2032)

13.3.10.5. Market Revenue and Forecast, by End User (2020-2032)

13.3.11. Rest of APAC

13.3.11.1. Market Revenue and Forecast, by Component (2020-2032)

13.3.11.2. Market Revenue and Forecast, by Type (2020-2032)

13.3.11.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.3.11.4. Market Revenue and Forecast, by Technology (2020-2032)

13.3.11.5. Market Revenue and Forecast, by End User (2020-2032)

13.4. MEA

13.4.1. Market Revenue and Forecast, by Component (2020-2032)

13.4.2. Market Revenue and Forecast, by Type (2020-2032)

13.4.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.4.4. Market Revenue and Forecast, by Technology (2020-2032)

13.4.5. Market Revenue and Forecast, by End User (2020-2032)

13.4.6. GCC

13.4.6.1. Market Revenue and Forecast, by Component (2020-2032)

13.4.6.2. Market Revenue and Forecast, by Type (2020-2032)

13.4.6.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.4.6.4. Market Revenue and Forecast, by Technology (2020-2032)

13.4.7. Market Revenue and Forecast, by End User (2020-2032)

13.4.8. North Africa

13.4.8.1. Market Revenue and Forecast, by Component (2020-2032)

13.4.8.2. Market Revenue and Forecast, by Type (2020-2032)

13.4.8.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.4.8.4. Market Revenue and Forecast, by Technology (2020-2032)

13.4.9. Market Revenue and Forecast, by End User (2020-2032)

13.4.10. South Africa

13.4.10.1. Market Revenue and Forecast, by Component (2020-2032)

13.4.10.2. Market Revenue and Forecast, by Type (2020-2032)

13.4.10.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.4.10.4. Market Revenue and Forecast, by Technology (2020-2032)

13.4.10.5. Market Revenue and Forecast, by End User (2020-2032)

13.4.11. Rest of MEA

13.4.11.1. Market Revenue and Forecast, by Component (2020-2032)

13.4.11.2. Market Revenue and Forecast, by Type (2020-2032)

13.4.11.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.4.11.4. Market Revenue and Forecast, by Technology (2020-2032)

13.4.11.5. Market Revenue and Forecast, by End User (2020-2032)

13.5. Latin America

13.5.1. Market Revenue and Forecast, by Component (2020-2032)

13.5.2. Market Revenue and Forecast, by Type (2020-2032)

13.5.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.5.4. Market Revenue and Forecast, by Technology (2020-2032)

13.5.5. Market Revenue and Forecast, by End User (2020-2032)

13.5.6. Brazil

13.5.6.1. Market Revenue and Forecast, by Component (2020-2032)

13.5.6.2. Market Revenue and Forecast, by Type (2020-2032)

13.5.6.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.5.6.4. Market Revenue and Forecast, by Technology (2020-2032)

13.5.7. Market Revenue and Forecast, by End User (2020-2032)

13.5.8. Rest of LATAM

13.5.8.1. Market Revenue and Forecast, by Component (2020-2032)

13.5.8.2. Market Revenue and Forecast, by Type (2020-2032)

13.5.8.3. Market Revenue and Forecast, by Deployment (2020-2032)

13.5.8.4. Market Revenue and Forecast, by Technology (2020-2032)

13.5.8.5. Market Revenue and Forecast, by End User (2020-2032)

Chapter 14. Company Profiles

14.1. Oracle

14.1.1. Company Overview

14.1.2. Product Offerings

14.1.3. Financial Performance

14.1.4. Recent Initiatives

14.2. IBM

14.2.1. Company Overview

14.2.2. Product Offerings

14.2.3. Financial Performance

14.2.4. Recent Initiatives

14.3. Amazon Web Services, Inc.

14.3.1. Company Overview

14.3.2. Product Offerings

14.3.3. Financial Performance

14.3.4. Recent Initiatives

14.4. Microsoft

14.4.1. Company Overview

14.4.2. Product Offerings

14.4.3. Financial Performance

14.4.4. Recent Initiatives

14.5. Avaamo

14.5.1. Company Overview

14.5.2. Product Offerings

14.5.3. Financial Performance

14.5.4. Recent Initiatives

14.6. Nuance Communications, Inc.

14.6.1. Company Overview

14.6.2. Product Offerings

14.6.3. Financial Performance

14.6.4. Recent Initiatives

14.7. FIS

14.7.1. Company Overview

14.7.2. Product Offerings

14.7.3. Financial Performance

14.7.4. Recent Initiatives

14.8. SAP SE

14.8.1. Company Overview

14.8.2. Product Offerings

14.8.3. Financial Performance

14.8.4. Recent Initiatives

14.9. Artificial Solutions

14.9.1. Company Overview

14.9.2. Product Offerings

14.9.3. Financial Performance

14.9.4. Recent Initiatives

14.10. Kore.ai, Inc.

14.10.1. Company Overview

14.10.2. Product Offerings

14.10.3. Financial Performance

14.10.4. Recent Initiatives

Chapter 15. Research Methodology

15.1. Primary Research

15.2. Secondary Research

15.3. Assumptions

Chapter 16. Appendix

16.1. About Us

16.2. Glossary of Terms

Why should you invest in this report?

This report presents a compelling investment opportunity for those interested in the global conversational AI market. It serves as an extensive and informative guide, offering clear insights into this niche market. By delving into the report, you will gain a comprehensive understanding of the various major application areas for conversational AI. Furthermore, it provides crucial information about the key regions worldwide that are expected to experience substantial growth within the forecast period of 2023-2030. Armed with this knowledge, you can strategically plan your market entry approaches.

Moreover, this report offers a deep analysis of the competitive landscape, equipping you with valuable insights into the level of competition prevalent in this highly competitive market. If you are already an established player, it will enable you to assess the strategies employed by your competitors, allowing you to stay ahead as market leaders. For newcomers entering this market, the extensive data provided in this report is invaluable, providing a solid foundation for informed decision-making.

Some of the key questions answered in this report:       

• What is the size of the overall Conversational AI market and its segments?
• What are the key segments and sub-segments in the market?
• What are the key drivers, restraints, opportunities and challenges of the Conversational AI market and how they are expected to impact the market?
• What are the attractive investment opportunities within the Conversational AI market?
• What is the Conversational AI market size at the regional and country-level?
• Who are the key market players and their key competitors?
• What are the strategies for growth adopted by the key players in Conversational AI market?
• What are the recent trends in Conversational AI market? (M&A, partnerships, new product developments, expansions)?
• What are the challenges to the Conversational AI market growth?
• What are the key market trends impacting the growth of Conversational AI market?

 

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