The global chatbot market was valued at USD 5,132.85 million in 2022 and it is predicted to surpass around USD 41,821.35 million by 2032 with a CAGR of 23.34% from 2023 to 2032.
Key Pointers
Report Scope of the Chatbot Market
| Report Coverage | Details |
| Market Size in 2022 | USD 5,132.85 million |
| Revenue Forecast by 2032 | USD 41,821.35 million |
| Growth rate from 2023 to 2032 | CAGR of 23.34% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Covered | [24]7.ai, Inc.; Acuvate; Aivo; Artificial Solutions; Botsify Inc.; Creative Virtual Ltd.; eGain Corporation; IBM Corporation; Inbenta Technologies Inc.; Next IT Corp.; Nuance Communications, Inc. |
The rising acceptance of customer service activities among businesses for the reduction in operating costs is anticipated to ascend the market growth. A chatbot is a collaborative application programmed using artificial intelligence technology and specific set of rules. It is intended for the interaction with humans over textual conversation process and is incorporated with various messaging facilities, thus supporting users in various sectors. Various innovations carried out in artificial intelligence, and machine learning technologies are expected to enhance the features of chatbot, which, in turn, would drive demand for the market.
The chatbot market has shown a significant growth in the last few years. The need to provide 24x7 customer services and reducing the operational cost by signing the jobs to the chatbot, the rise in customer’s demands for self-service operations has led to the increase of the demand. This can be attributed to the growing preference of individuals toward messaging applications over social networking sites.
Chatbots that are developed for integration with messaging applications are also expected to witness significant market demand in the future. Moreover, chatbot are gaining popularity as the businesses continue to automate their sales and customer services. The use of chatbot enables organizations to deliver timely services at reduced costs.
Today there is a significant rise in the usage of messaging services, which is expected to surpass the social networking sites in terms of the number of users. There is also a significant development in the Natural language processing field, which made the interactions between computer and human languages more streamlined. The entire ecosystem of the chatbot comprises various cross-linking features that help in optimum usage of the application.
The users interacting with the customer service interrelate with the chatbot through the chatbot interface. The chatbot interact with users via webpage or mobile applications or through SMS etc. The chatbots are deployed on various channels such as standalone, website, and third-party messenger platforms. In standalone, bots are integrated with the applications and other software of the enterprises. The users interact with the chatbots deployed to raise the requests or the complaints to customer service.
The chatbot is a messaging service that was developed by using a set of rules and artificial intelligence that can be interacted via a chat interface. There are two types of chatbots, one which is developed by a set of rules and the other which uses artificial intelligence and machine learning algorithms. Some chatbots also include voice recognition in order to offer an enhanced customer service experience. Currently, chatbot developers are including analytics into software application in order to get better insights into customer behavior and buying patterns.
Open.AI, an American artificial intelligence company, released ChatGPT, an AI chatbot that answers every question. It is the latest series of AI which is referred to as GPT. The chat structure enables the AI to respond to "follow-up questions, admit its errors, contest false assumptions, and decline unsuitable requests.
Chatbot Market Segmentations:
| By Offering | By Type | By Medium |
|
Solution Services |
Standalone Web-based Messenger-based/Third Party |
Contact Centers Websites Social Media Mobile Applications |
| By Business function | By Application | By Vertical |
|
IT Services HR Services Sales & Marketing Finance |
Customer Services Branding & Advertising Personal Assistance Data Privacy & Compliance Payment Processing Others |
Healthcare Retail & E-commerce BFSI Media & Entertainment Travel & Tourism Transportation & Logistics Others |
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
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. Vertical Procurement Analysis
4.3.2. Sales and Distribution Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Chatbot Market
5.1. COVID-19 Landscape: Chatbot 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 Chatbot Market, By Offering
8.1. Chatbot Market, by Offering, 2023-2032
8.1.1. Solution
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Services
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Chatbot Market, By Type
9.1. Chatbot Market, by Type, 2023-2032
9.1.1. Standalone
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Web-based
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Messenger-based/Third Party
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Chatbot Market, By Medium
10.1. Chatbot Market, by Medium, 2023-2032
10.1.1. Contact Centers
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Websites
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Social Media
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Mobile Applications
10.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Chatbot Market, By Business function
11.1. Chatbot Market, by Business function, 2023-2032
11.1.1. IT Services
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. HR Services
11.1.2.1. Market Revenue and Forecast (2020-2032)
11.1.3. Sales & Marketing
11.1.3.1. Market Revenue and Forecast (2020-2032)
11.1.4. Finance
11.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Chatbot Market, By Application
12.1. Chatbot Market, by Application, 2023-2032
12.1.1. Customer Services
12.1.1.1. Market Revenue and Forecast (2020-2032)
12.1.2. Branding & Advertising
12.1.2.1. Market Revenue and Forecast (2020-2032)
12.1.3. Personal Assistance
12.1.3.1. Market Revenue and Forecast (2020-2032)
12.1.4. Data Privacy & Compliance
12.1.4.1. Market Revenue and Forecast (2020-2032)
12.1.5. Payment Processing
12.1.5.1. Market Revenue and Forecast (2020-2032)
12.1.6. Others
12.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 13. Global Chatbot Market, By Vertical
13.1. Chatbot Market, by Vertical, 2023-2032
13.1.1. Healthcare
13.1.1.1. Market Revenue and Forecast (2020-2032)
13.1.2. Retail & E-commerce
13.1.2.1. Market Revenue and Forecast (2020-2032)
13.1.3. BFSI
13.1.3.1. Market Revenue and Forecast (2020-2032)
13.1.4. Media & Entertainment
13.1.4.1. Market Revenue and Forecast (2020-2032)
13.1.5. Travel & Tourism
13.1.5.1. Market Revenue and Forecast (2020-2032)
13.1.6. Transportation & Logistics
13.1.6.1. Market Revenue and Forecast (2020-2032)
13.1.7. Others
13.1.7.1. Market Revenue and Forecast (2020-2032)
Chapter 14. Global Chatbot Market, Regional Estimates and Trend Forecast
14.1. North America
14.1.1. Market Revenue and Forecast, by Offering (2020-2032)
14.1.2. Market Revenue and Forecast, by Type (2020-2032)
14.1.3. Market Revenue and Forecast, by Medium (2020-2032)
14.1.4. Market Revenue and Forecast, by Business function (2020-2032)
14.1.5. Market Revenue and Forecast, by Application (2020-2032)
14.1.6. Market Revenue and Forecast, by Vertical (2020-2032)
14.1.7. U.S.
14.1.7.1. Market Revenue and Forecast, by Offering (2020-2032)
14.1.7.2. Market Revenue and Forecast, by Type (2020-2032)
14.1.7.3. Market Revenue and Forecast, by Medium (2020-2032)
14.1.7.4. Market Revenue and Forecast, by Business function (2020-2032)
14.1.8. Market Revenue and Forecast, by Application (2020-2032)
14.1.8.1. Market Revenue and Forecast, by Vertical (2020-2032)
14.1.9. Rest of North America
14.1.9.1. Market Revenue and Forecast, by Offering (2020-2032)
14.1.9.2. Market Revenue and Forecast, by Type (2020-2032)
14.1.9.3. Market Revenue and Forecast, by Medium (2020-2032)
14.1.9.4. Market Revenue and Forecast, by Business function (2020-2032)
14.1.10. Market Revenue and Forecast, by Application (2020-2032)
14.1.11. Market Revenue and Forecast, by Vertical (2020-2032)
14.1.11.1.
14.2. Europe
14.2.1. Market Revenue and Forecast, by Offering (2020-2032)
14.2.2. Market Revenue and Forecast, by Type (2020-2032)
14.2.3. Market Revenue and Forecast, by Medium (2020-2032)
14.2.4. Market Revenue and Forecast, by Business function (2020-2032)
14.2.5. Market Revenue and Forecast, by Application (2020-2032)
14.2.6. Market Revenue and Forecast, by Vertical (2020-2032)
14.2.7.
14.2.8. UK
14.2.8.1. Market Revenue and Forecast, by Offering (2020-2032)
14.2.8.2. Market Revenue and Forecast, by Type (2020-2032)
14.2.8.3. Market Revenue and Forecast, by Medium (2020-2032)
14.2.9. Market Revenue and Forecast, by Business function (2020-2032)
14.2.10. Market Revenue and Forecast, by Application (2020-2032)
14.2.10.1. Market Revenue and Forecast, by Vertical (2020-2032)
14.2.11. Germany
14.2.11.1. Market Revenue and Forecast, by Offering (2020-2032)
14.2.11.2. Market Revenue and Forecast, by Type (2020-2032)
14.2.11.3. Market Revenue and Forecast, by Medium (2020-2032)
14.2.12. Market Revenue and Forecast, by Business function (2020-2032)
14.2.13. Market Revenue and Forecast, by Application (2020-2032)
14.2.14. Market Revenue and Forecast, by Vertical (2020-2032)
14.2.14.1.
14.2.15. France
14.2.15.1. Market Revenue and Forecast, by Offering (2020-2032)
14.2.15.2. Market Revenue and Forecast, by Type (2020-2032)
14.2.15.3. Market Revenue and Forecast, by Medium (2020-2032)
14.2.15.4. Market Revenue and Forecast, by Business function (2020-2032)
14.2.16. Market Revenue and Forecast, by Application (2020-2032)
14.2.16.1. Market Revenue and Forecast, by Vertical (2020-2032)
14.2.17. Rest of Europe
14.2.17.1. Market Revenue and Forecast, by Offering (2020-2032)
14.2.17.2. Market Revenue and Forecast, by Type (2020-2032)
14.2.17.3. Market Revenue and Forecast, by Medium (2020-2032)
14.2.17.4. Market Revenue and Forecast, by Business function (2020-2032)
14.2.18. Market Revenue and Forecast, by Application (2020-2032)
14.2.18.1. Market Revenue and Forecast, by Vertical (2020-2032)
14.3. APAC
14.3.1. Market Revenue and Forecast, by Offering (2020-2032)
14.3.2. Market Revenue and Forecast, by Type (2020-2032)
14.3.3. Market Revenue and Forecast, by Medium (2020-2032)
14.3.4. Market Revenue and Forecast, by Business function (2020-2032)
14.3.5. Market Revenue and Forecast, by Application (2020-2032)
14.3.6. Market Revenue and Forecast, by Vertical (2020-2032)
14.3.7. India
14.3.7.1. Market Revenue and Forecast, by Offering (2020-2032)
14.3.7.2. Market Revenue and Forecast, by Type (2020-2032)
14.3.7.3. Market Revenue and Forecast, by Medium (2020-2032)
14.3.7.4. Market Revenue and Forecast, by Business function (2020-2032)
14.3.8. Market Revenue and Forecast, by Application (2020-2032)
14.3.9. Market Revenue and Forecast, by Vertical (2020-2032)
14.3.10. China
14.3.10.1. Market Revenue and Forecast, by Offering (2020-2032)
14.3.10.2. Market Revenue and Forecast, by Type (2020-2032)
14.3.10.3. Market Revenue and Forecast, by Medium (2020-2032)
14.3.10.4. Market Revenue and Forecast, by Business function (2020-2032)
14.3.11. Market Revenue and Forecast, by Application (2020-2032)
14.3.11.1. Market Revenue and Forecast, by Vertical (2020-2032)
14.3.12. Japan
14.3.12.1. Market Revenue and Forecast, by Offering (2020-2032)
14.3.12.2. Market Revenue and Forecast, by Type (2020-2032)
14.3.12.3. Market Revenue and Forecast, by Medium (2020-2032)
14.3.12.4. Market Revenue and Forecast, by Business function (2020-2032)
14.3.12.5. Market Revenue and Forecast, by Application (2020-2032)
14.3.12.6. Market Revenue and Forecast, by Vertical (2020-2032)
14.3.13. Rest of APAC
14.3.13.1. Market Revenue and Forecast, by Offering (2020-2032)
14.3.13.2. Market Revenue and Forecast, by Type (2020-2032)
14.3.13.3. Market Revenue and Forecast, by Medium (2020-2032)
14.3.13.4. Market Revenue and Forecast, by Business function (2020-2032)
14.3.13.5. Market Revenue and Forecast, by Application (2020-2032)
14.3.13.6. Market Revenue and Forecast, by Vertical (2020-2032)
14.4. MEA
14.4.1. Market Revenue and Forecast, by Offering (2020-2032)
14.4.2. Market Revenue and Forecast, by Type (2020-2032)
14.4.3. Market Revenue and Forecast, by Medium (2020-2032)
14.4.4. Market Revenue and Forecast, by Business function (2020-2032)
14.4.5. Market Revenue and Forecast, by Application (2020-2032)
14.4.6. Market Revenue and Forecast, by Vertical (2020-2032)
14.4.7. GCC
14.4.7.1. Market Revenue and Forecast, by Offering (2020-2032)
14.4.7.2. Market Revenue and Forecast, by Type (2020-2032)
14.4.7.3. Market Revenue and Forecast, by Medium (2020-2032)
14.4.7.4. Market Revenue and Forecast, by Business function (2020-2032)
14.4.8. Market Revenue and Forecast, by Application (2020-2032)
14.4.9. Market Revenue and Forecast, by Vertical (2020-2032)
14.4.10. North Africa
14.4.10.1. Market Revenue and Forecast, by Offering (2020-2032)
14.4.10.2. Market Revenue and Forecast, by Type (2020-2032)
14.4.10.3. Market Revenue and Forecast, by Medium (2020-2032)
14.4.10.4. Market Revenue and Forecast, by Business function (2020-2032)
14.4.11. Market Revenue and Forecast, by Application (2020-2032)
14.4.12. Market Revenue and Forecast, by Vertical (2020-2032)
14.4.13. South Africa
14.4.13.1. Market Revenue and Forecast, by Offering (2020-2032)
14.4.13.2. Market Revenue and Forecast, by Type (2020-2032)
14.4.13.3. Market Revenue and Forecast, by Medium (2020-2032)
14.4.13.4. Market Revenue and Forecast, by Business function (2020-2032)
14.4.13.5. Market Revenue and Forecast, by Application (2020-2032)
14.4.13.6. Market Revenue and Forecast, by Vertical (2020-2032)
14.4.14. Rest of MEA
14.4.14.1. Market Revenue and Forecast, by Offering (2020-2032)
14.4.14.2. Market Revenue and Forecast, by Type (2020-2032)
14.4.14.3. Market Revenue and Forecast, by Medium (2020-2032)
14.4.14.4. Market Revenue and Forecast, by Business function (2020-2032)
14.4.14.5. Market Revenue and Forecast, by Application (2020-2032)
14.4.14.6. Market Revenue and Forecast, by Vertical (2020-2032)
14.5. Latin America
14.5.1. Market Revenue and Forecast, by Offering (2020-2032)
14.5.2. Market Revenue and Forecast, by Type (2020-2032)
14.5.3. Market Revenue and Forecast, by Medium (2020-2032)
14.5.4. Market Revenue and Forecast, by Business function (2020-2032)
14.5.5. Market Revenue and Forecast, by Application (2020-2032)
14.5.6. Market Revenue and Forecast, by Vertical (2020-2032)
14.5.7. Brazil
14.5.7.1. Market Revenue and Forecast, by Offering (2020-2032)
14.5.7.2. Market Revenue and Forecast, by Type (2020-2032)
14.5.7.3. Market Revenue and Forecast, by Medium (2020-2032)
14.5.7.4. Market Revenue and Forecast, by Business function (2020-2032)
14.5.8. Market Revenue and Forecast, by Application (2020-2032)
14.5.8.1. Market Revenue and Forecast, by Vertical (2020-2032)
14.5.9. Rest of LATAM
14.5.9.1. Market Revenue and Forecast, by Offering (2020-2032)
14.5.9.2. Market Revenue and Forecast, by Type (2020-2032)
14.5.9.3. Market Revenue and Forecast, by Medium (2020-2032)
14.5.9.4. Market Revenue and Forecast, by Business function (2020-2032)
14.5.9.5. Market Revenue and Forecast, by Application (2020-2032)
14.5.9.6. Market Revenue and Forecast, by Vertical (2020-2032)
Chapter 15. Company Profiles
15.1. [24]7.ai, Inc.
15.1.1. Company Overview
15.1.2. Product Offerings
15.1.3. Financial Performance
15.1.4. Recent Initiatives
15.2. Acuvate
15.2.1. Company Overview
15.2.2. Product Offerings
15.2.3. Financial Performance
15.2.4. Recent Initiatives
15.3. Aivo
15.3.1. Company Overview
15.3.2. Product Offerings
15.3.3. Financial Performance
15.3.4. Recent Initiatives
15.4. Artificial Solutions
15.4.1. Company Overview
15.4.2. Product Offerings
15.4.3. Financial Performance
15.4.4. Recent Initiatives
15.5. Botsify Inc.
15.5.1. Company Overview
15.5.2. Product Offerings
15.5.3. Financial Performance
15.5.4. Recent Initiatives
15.6. Creative Virtual Ltd.
15.6.1. Company Overview
15.6.2. Product Offerings
15.6.3. Financial Performance
15.6.4. Recent Initiatives
15.7. eGain Corporation
15.7.1. Company Overview
15.7.2. Product Offerings
15.7.3. Financial Performance
15.7.4. Recent Initiatives
15.8. IBM Corporation
15.8.1. Company Overview
15.8.2. Product Offerings
15.8.3. Financial Performance
15.8.4. Recent Initiatives
15.9. Inbenta Technologies Inc.
15.9.1. Company Overview
15.9.2. Product Offerings
15.9.3. Financial Performance
15.9.4. Recent Initiatives
15.10. Next IT Corp.
15.10.1. Company Overview
15.10.2. Product Offerings
15.10.3. Financial Performance
15.10.4. Recent Initiatives
Chapter 16. Research Methodology
16.1. Primary Research
16.2. Secondary Research
16.3. Assumptions
Chapter 17. Appendix
17.1. About Us
17.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers