Conversational AI Market Forecast, Trends, Scope by 2031
The conversational AI market size is expected to reach US$ 39.55 billion by 2031 from US$ 8.45 billion in 2023. The market is estimated to record a CAGR of 21.3% from 2023 to 2031. The growing adoption of conversational AI in the gaming industry is likely to remain a key market trend during the forecast period.
Conversational AI Market Analysis
The rising demand and falling chatbot development costs, AI-powered customer support services, and omnichannel deployment drive the conversational AI market growth. Numerous development projects are in progress to ensure that these technologies are used effectively and efficiently for enterprise use cases that address real business issues. In order to make use of Al's ability to respond in a conversational manner like a human, a number of generative Al companies have emerged. It has the potential to completely change how people interact with technology by facilitating more casual, human-like conversations that are tailored to individual needs and preferences. Furthermore, the use of conversational AI platforms is becoming popular among public sector organizations as governments across the world work to permit widespread digital transformation and reinvent the citizen experience, boosting market growth.
Conversational AI Market Overview
Conversational artificial intelligence (AI) refers to technology that consumers can interact with such as chatbots or virtual agents. They mimic human interactions by identifying speech and text inputs; translating their meanings across several languages; and using massive volumes of data, machine learning (ML), and natural language processing (NLP). Conversational AI mixes NLP and ML techniques with traditional, static types of interactive technology such as chatbots. Through interactions that resemble those with standard human agents, this combination is employed to respond to consumers.
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Conversational AI Market: Strategic Insights
Market Size Value in US$ 8.45 billion in 2022 Market Size Value by US$ 39.55 billion by 2030 Growth rate CAGR of 21.3% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Conversational AI Market: Strategic Insights
| Market Size Value in | US$ 8.45 billion in 2022 |
| Market Size Value by | US$ 39.55 billion by 2030 |
| Growth rate | CAGR of 21.3% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Conversational AI Market Drivers and Opportunities
Growing E-commerce Sector Drives Conversational AI Market
Since the COVID-19 pandemic, there has been a surge in online shopping across the world. According to the International Air Transport Association (IATA), in 2021, 2.14 billion people (i.e., ∼27.6% of the world’s population) bought products from online portals. In addition, APAC leads the global e-commerce market, where China accounts for a significant percentage of the regional market growth. As per the International Trade Administration, China is the largest e-commerce market across the world, generating ∼ 50% of the world’s transactions. In 2021, the country generated ∼ US$ 1.5 trillion in revenue through the e-commerce sector, becoming the largest e-commerce market in the world. Also, Europe is a key region supporting e-commerce growth. According to Eurostat, in 2022, 91% of people aged 16–74 years in the European Union (EU) countries used the internet, of which ∼ 75% ordered goods or services online. Also, the proportion of e-shoppers grew to 75% in 2022 from 55% in 2012, an increase of 20% over the last decade. Many shoppers in Europe prefer online shopping platforms such as Amazon, Target, and Walmart, which majorly drives the growth of the e-commerce sector in Europe. The growing demand for online shopping is raising the demand for conversational commerce. The intelligent AI-powered shopping bots are revolutionizing the e-commerce industry by interacting with their customers, providing personalized guidance, and further driving sales. Also, by leveraging machine learning and natural language processing, conversational AI helps engage meaningful dialogues, understand customer needs, and nurture leads in real time. Thus, the growing e-commerce sector propels the conversational AI market growth.
Emergence of Generative AI to Offer Opportunities for Market During Forecast Period
Generative AI is extremely important across a wide range of businesses. Its ability to generate unique content has important ramifications in industries such as art, design, and marketing. This technology improves personalization and innovates and streamlines creative processes. Furthermore, by producing different scenarios and answers, generative AI aids in problem-solving. Thus, it is emerging as a key tool that transforms conventional methodologies and opens up new possibilities as industries try to realize the potential of AI-driven innovation. In addition, generative AI excels in automating repetitive activities, freeing up human resources for more strategic and complicated projects. Also, it provides highly personalized experiences by providing product information to individual tastes. From tailored marketing campaigns to curated product suggestions, generative AI technology uses data to produce content that communicates to each user. Incorporating generative AI into conversational AI chatbots and virtual assistants improves their ability to participate in natural, human-like conversations. These systems interpret and process user input to produce real-time responses, suggestions, and solutions. Generative AI enables chatbots to deliver tailored advice and manage difficult inquiries. This transforms customer service, e-commerce interactions, and other areas where effective communication is critical. Furthermore, generative AI technology is transforming the world of language processing, allowing for accurate translations and natural interactions that cross traditional communication borders. Its applications in language translation and chatbot interactions demonstrate the revolutionary power of cutting-edge AI technology across a wide range of sectors. Thus, the emergence of generative AI is expected to fuel the growth of the conversational AI market during the forecasted period.
Conversational AI Market Report Segmentation Analysis
Key segments that contributed to the derivation of the conversational AI market analysis are component, type, deployment type, and industry.
- Based on component, the market is bifurcated into platform and service. The platform segment dominated the market in 2023.
- Based on type, the market is segmented into chatbots and intelligent virtual assistants. The chatbots segment dominated the market in 2023.
- In terms of deployment type, the conversational AI market is segmented into on-premise and cloud. The on-premise segment dominated the market in 2023.
- Based on industry, the market is segmented into retail & e-commerce, healthcare & life sciences, travel & hospitality, BFSI, IT & telecom, media & entertainment, and others. The retail & e-commerce segment dominated the market in 2023.
Conversational AI Market Share Analysis by Geography
- The conversational AI market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2023, followed by Europe and APAC.
- North America held the largest market share in 2023. The market in the region is experiencing robust growth owing to the widespread adoption of innovative technologies and the rapidly increasing need for AI-powered customer support services. In addition, the majority of businesses in North America are investing in technology innovations to meet and exceed the needs of their clientele. The increased health consciousness among the population also drives the growth of the conversational AI market in the region. The healthcare industry in North America is leading the way in integrating robotics, AI, virtual reality (VR), and augmented reality (AR).
Conversational AI Market Report Scope
Conversational AI Market News and Recent Developments
The conversational AI market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the conversational AI market are listed below:
- Amazon.com, Inc. announced the general availability of Amazon Q for businesses and developers. Amazon Q is the most capable generative AI-powered assistant for accelerating software development and leveraging companies’ internal data.
(Source: Amazon, Press Release, April 2024)
- Wipro Limited launched Wipro Enterprise Artificial Intelligence (AI)-Ready Platform by leveraging International Business Machines Corp’s watsonx AI and data platforms, including watsonx.ai, watsonx.data, and watsonx.governance, and AI assistants. This partnership supports Wipro Limited to deliver to clients an interoperable service that helps accelerate AI adoption.
(Source: International Business Machines Corporation, Press Release, February 2024)
Conversational AI Market Report Coverage and Deliverables
The "Conversational AI Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- Cost-estimating software market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Cost-estimating software market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Cost-estimating software market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the conversational AI market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Type, Deployment Type, and Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Asia Pacific is anticipated to grow with the highest CAGR over the forecast period.
The key players holding majority shares in the conversational AI market are Amazon.com Inc, Alphabet Inc, International Business Machines Corp, Microsoft Corp, and Oracle Corp.
The conversational AI market is expected to reach US$ 39.55 million by 2031.
The US held the largest conversational AI market share in 2023.
The increase in demand for chatbot solutions and the growing e-commerce sector are the major factors that propel the conversational AI market.
The conversational AI market was estimated to be US$ 8.45 billion in 2023 and is expected to grow at a CAGR of 21.3% during the forecast period 2023 - 2031.
Growing adoption of conversational AI in gaming industry plays a significant role in the conversational AI market in the coming years.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Conversational AI market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in Value Chain
5. Conversational AI market – Key Market Dynamics
5.1 Conversational AI market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Growing E-Commerce Sector
5.2.2 Increasing Demand for Chatbot Solutions
5.3 Market Restraints
5.3.1 Rising Privacy Concerns
5.4 Market Opportunities
5.4.1 Rising Demand for Conversational AI in Healthcare Sector
5.4.2 Emergence of Generative AI
5.5 Market Trends
5.5.1 Growing Adoption of Conversational AI in Gaming Industry
5.6 Impact of Drivers and Restraints:
6. Conversational AI market – Global Market Analysis
6.1 Conversational AI market Revenue (US$ Million), 2021–2031
6.2 Conversational AI market Forecast Analysis
7. Conversational AI market Analysis – by Component
7.1 Platform
7.1.1 Overview
7.1.2 Platform: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
7.2 Service
7.2.1 Overview
7.2.2 Service: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
8. Conversational AI market Analysis – by Type
8.1 Chatbots
8.1.1 Overview
8.1.2 Chatbots: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
8.2 Intelligent Virtual Assistants
8.2.1 Overview
8.2.2 Intelligent Virtual Assistants: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
9. Conversational AI market Analysis – by Deployment Type
9.1 On-Premise
9.1.1 Overview
9.1.2 On-Premise: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
9.2 Cloud
9.2.1 Overview
9.2.2 Cloud: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10. Conversational AI market Analysis – by Industry
10.1 Retail and E-commerce
10.1.1 Overview
10.1.2 Retail and E-commerce: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10.2 Healthcare and Life Sciences
10.2.1 Overview
10.2.2 Healthcare and Life Sciences: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10.3 Travel and Hospitality
10.3.1 Overview
10.3.2 Travel and Hospitality: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10.4 BFSI
10.4.1 Overview
10.4.2 BFSI: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10.5 IT and Telecom
10.5.1 Overview
10.5.2 IT and Telecom: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10.6 Media and Entertainment
10.6.1 Overview
10.6.2 Media and Entertainment: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10.7 Others
10.7.1 Overview
10.7.2 Others: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11. Conversational AI market – Geographical Analysis
11.1 Overview
11.2 North America
11.2.1 North America Conversational AI market Overview
11.2.2 North America: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.2.3 North America: Conversational AI market Breakdown, by Component
11.2.3.1 North America: Conversational AI market – Revenue and Forecast Analysis – by Component
11.2.4 North America: Conversational AI market Breakdown, by Type
11.2.4.1 North America: Conversational AI market – Revenue and Forecast Analysis – by Type
11.2.5 North America: Conversational AI market Breakdown, by Deployment Type
11.2.5.1 North America: Conversational AI market – Revenue and Forecast Analysis – by Deployment Type
11.2.6 North America: Conversational AI market Breakdown, by Industry
11.2.6.1 North America: Conversational AI market – Revenue and Forecast Analysis – by Industry
11.2.7 North America: Conversational AI market – Revenue and Forecast Analysis – by Country
11.2.7.1 North America: Conversational AI market – Revenue and Forecast Analysis – by Country
11.2.7.2 United States: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.2.7.2.1 United States: Conversational AI market Breakdown, by Component
11.2.7.2.2 United States: Conversational AI market Breakdown, by Type
11.2.7.2.3 United States: Conversational AI market Breakdown, by Deployment Type
11.2.7.2.4 United States: Conversational AI market Breakdown, by Industry
11.2.7.3 Canada: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.2.7.3.1 Canada: Conversational AI market Breakdown, by Component
11.2.7.3.2 Canada: Conversational AI market Breakdown, by Type
11.2.7.3.3 Canada: Conversational AI market Breakdown, by Deployment Type
11.2.7.3.4 Canada: Conversational AI market Breakdown, by Industry
11.2.7.4 Mexico: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.2.7.4.1 Mexico: Conversational AI market Breakdown, by Component
11.2.7.4.2 Mexico: Conversational AI market Breakdown, by Type
11.2.7.4.3 Mexico: Conversational AI market Breakdown, by Deployment Type
11.2.7.4.4 Mexico: Conversational AI market Breakdown, by Industry
11.3 Europe
11.3.1 Europe Conversational AI market Overview
11.3.2 Europe: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.3.3 Europe: Conversational AI market Breakdown, by Component
11.3.3.1 Europe: Conversational AI market – Revenue and Forecast Analysis – by Component
11.3.4 Europe: Conversational AI market Breakdown, by Type
11.3.4.1 Europe: Conversational AI market – Revenue and Forecast Analysis – by Type
11.3.5 Europe: Conversational AI market Breakdown, by Deployment Type
11.3.5.1 Europe: Conversational AI market – Revenue and Forecast Analysis – by Deployment Type
11.3.6 Europe: Conversational AI market Breakdown, by Industry
11.3.6.1 Europe: Conversational AI market – Revenue and Forecast Analysis – by Industry
11.3.7 Europe: Conversational AI market – Revenue and Forecast Analysis – by Country
11.3.7.1 Europe: Conversational AI market – Revenue and Forecast Analysis – by Country
11.3.7.2 France: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.3.7.2.1 France: Conversational AI market Breakdown, by Component
11.3.7.2.2 France: Conversational AI market Breakdown, by Type
11.3.7.2.3 France: Conversational AI market Breakdown, by Deployment Type
11.3.7.2.4 France: Conversational AI market Breakdown, by Industry
11.3.7.3 Germany: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.3.7.3.1 Germany: Conversational AI market Breakdown, by Component
11.3.7.3.2 Germany: Conversational AI market Breakdown, by Type
11.3.7.3.3 Germany: Conversational AI market Breakdown, by Deployment Type
11.3.7.3.4 Germany: Conversational AI market Breakdown, by Industry
11.3.7.4 United Kingdom: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.3.7.4.1 United Kingdom: Conversational AI market Breakdown, by Component
11.3.7.4.2 United Kingdom: Conversational AI market Breakdown, by Type
11.3.7.4.3 United Kingdom: Conversational AI market Breakdown, by Deployment Type
11.3.7.4.4 United Kingdom: Conversational AI market Breakdown, by Industry
11.3.7.5 Italy: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.3.7.5.1 Italy: Conversational AI market Breakdown, by Component
11.3.7.5.2 Italy: Conversational AI market Breakdown, by Type
11.3.7.5.3 Italy: Conversational AI market Breakdown, by Deployment Type
11.3.7.5.4 Italy: Conversational AI market Breakdown, by Industry
11.3.7.6 Russian Federation: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.3.7.6.1 Russian Federation: Conversational AI market Breakdown, by Component
11.3.7.6.2 Russian Federation: Conversational AI market Breakdown, by Type
11.3.7.6.3 Russian Federation: Conversational AI market Breakdown, by Deployment Type
11.3.7.6.4 Russian Federation: Conversational AI market Breakdown, by Industry
11.3.7.7 Rest of Europe: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.3.7.7.1 Rest of Europe: Conversational AI market Breakdown, by Component
11.3.7.7.2 Rest of Europe: Conversational AI market Breakdown, by Type
11.3.7.7.3 Rest of Europe: Conversational AI market Breakdown, by Deployment Type
11.3.7.7.4 Rest of Europe: Conversational AI market Breakdown, by Industry
11.4 Asia Pacific
11.4.1 Asia Pacific Conversational AI market Overview
11.4.2 Asia Pacific: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.4.3 Asia Pacific: Conversational AI market Breakdown, by Component
11.4.3.1 Asia Pacific: Conversational AI market – Revenue and Forecast Analysis – by Component
11.4.4 Asia Pacific: Conversational AI market Breakdown, by Type
11.4.4.1 Asia Pacific: Conversational AI market – Revenue and Forecast Analysis – by Type
11.4.5 Asia Pacific: Conversational AI market Breakdown, by Deployment Type
11.4.5.1 Asia Pacific: Conversational AI market – Revenue and Forecast Analysis – by Deployment Type
11.4.6 Asia Pacific: Conversational AI market Breakdown, by Industry
11.4.6.1 Asia Pacific: Conversational AI market – Revenue and Forecast Analysis – by Industry
11.4.7 Asia Pacific: Conversational AI market – Revenue and Forecast Analysis – by Country
11.4.7.1 Asia Pacific: Conversational AI market – Revenue and Forecast Analysis – by Country
11.4.7.2 Australia: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.4.7.2.1 Australia: Conversational AI market Breakdown, by Component
11.4.7.2.2 Australia: Conversational AI market Breakdown, by Type
11.4.7.2.3 Australia: Conversational AI market Breakdown, by Deployment Type
11.4.7.2.4 Australia: Conversational AI market Breakdown, by Industry
11.4.7.3 China: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.4.7.3.1 China: Conversational AI market Breakdown, by Component
11.4.7.3.2 China: Conversational AI market Breakdown, by Type
11.4.7.3.3 China: Conversational AI market Breakdown, by Deployment Type
11.4.7.3.4 China: Conversational AI market Breakdown, by Industry
11.4.7.4 India: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.4.7.4.1 India: Conversational AI market Breakdown, by Component
11.4.7.4.2 India: Conversational AI market Breakdown, by Type
11.4.7.4.3 India: Conversational AI market Breakdown, by Deployment Type
11.4.7.4.4 India: Conversational AI market Breakdown, by Industry
11.4.7.5 Japan: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.4.7.5.1 Japan: Conversational AI market Breakdown, by Component
11.4.7.5.2 Japan: Conversational AI market Breakdown, by Type
11.4.7.5.3 Japan: Conversational AI market Breakdown, by Deployment Type
11.4.7.5.4 Japan: Conversational AI market Breakdown, by Industry
11.4.7.6 South Korea: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.4.7.6.1 South Korea: Conversational AI market Breakdown, by Component
11.4.7.6.2 South Korea: Conversational AI market Breakdown, by Type
11.4.7.6.3 South Korea: Conversational AI market Breakdown, by Deployment Type
11.4.7.6.4 South Korea: Conversational AI market Breakdown, by Industry
11.4.7.7 Rest of APAC: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.4.7.7.1 Rest of APAC: Conversational AI market Breakdown, by Component
11.4.7.7.2 Rest of APAC: Conversational AI market Breakdown, by Type
11.4.7.7.3 Rest of APAC: Conversational AI market Breakdown, by Deployment Type
11.4.7.7.4 Rest of APAC: Conversational AI market Breakdown, by Industry
11.5 Middle East and Africa
11.5.1 Middle East and Africa Conversational AI market Overview
11.5.2 Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.5.3 Middle East and Africa: Conversational AI market Breakdown, by Component
11.5.3.1 Middle East and Africa: Conversational AI market – Revenue and Forecast Analysis – by Component
11.5.4 Middle East and Africa: Conversational AI market Breakdown, by Type
11.5.4.1 Middle East and Africa: Conversational AI market – Revenue and Forecast Analysis – by Type
11.5.5 Middle East and Africa: Conversational AI market Breakdown, by Deployment Type
11.5.5.1 Middle East and Africa: Conversational AI market – Revenue and Forecast Analysis – by Deployment Type
11.5.6 Middle East and Africa: Conversational AI market Breakdown, by Industry
11.5.6.1 Middle East and Africa: Conversational AI market – Revenue and Forecast Analysis – by Industry
11.5.7 Middle East and Africa: Conversational AI market – Revenue and Forecast Analysis – by Country
11.5.7.1 Middle East and Africa: Conversational AI market – Revenue and Forecast Analysis – by Country
11.5.7.2 South Africa: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.5.7.2.1 South Africa: Conversational AI market Breakdown, by Component
11.5.7.2.2 South Africa: Conversational AI market Breakdown, by Type
11.5.7.2.3 South Africa: Conversational AI market Breakdown, by Deployment Type
11.5.7.2.4 South Africa: Conversational AI market Breakdown, by Industry
11.5.7.3 Saudi Arabia: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.5.7.3.1 Saudi Arabia: Conversational AI market Breakdown, by Component
11.5.7.3.2 Saudi Arabia: Conversational AI market Breakdown, by Type
11.5.7.3.3 Saudi Arabia: Conversational AI market Breakdown, by Deployment Type
11.5.7.3.4 Saudi Arabia: Conversational AI market Breakdown, by Industry
11.5.7.4 United Arab Emirates: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.5.7.4.1 United Arab Emirates: Conversational AI market Breakdown, by Component
11.5.7.4.2 United Arab Emirates: Conversational AI market Breakdown, by Type
11.5.7.4.3 United Arab Emirates: Conversational AI market Breakdown, by Deployment Type
11.5.7.4.4 United Arab Emirates: Conversational AI market Breakdown, by Industry
11.5.7.5 Rest of Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.5.7.5.1 Rest of Middle East and Africa: Conversational AI market Breakdown, by Component
11.5.7.5.2 Rest of Middle East and Africa: Conversational AI market Breakdown, by Type
11.5.7.5.3 Rest of Middle East and Africa: Conversational AI market Breakdown, by Deployment Type
11.5.7.5.4 Rest of Middle East and Africa: Conversational AI market Breakdown, by Industry
11.6 South and Central America
11.6.1 South and Central America Conversational AI market Overview
11.6.2 South and Central America: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.6.3 South and Central America: Conversational AI market Breakdown, by Component
11.6.3.1 South and Central America: Conversational AI market – Revenue and Forecast Analysis – by Component
11.6.4 South and Central America: Conversational AI market Breakdown, by Type
11.6.4.1 South and Central America: Conversational AI market – Revenue and Forecast Analysis – by Type
11.6.5 South and Central America: Conversational AI market Breakdown, by Deployment Type
11.6.5.1 South and Central America: Conversational AI market – Revenue and Forecast Analysis – by Deployment Type
11.6.6 South and Central America: Conversational AI market Breakdown, by Industry
11.6.6.1 South and Central America: Conversational AI market – Revenue and Forecast Analysis – by Industry
11.6.7 South and Central America: Conversational AI market – Revenue and Forecast Analysis – by Country
11.6.7.1 South and Central America: Conversational AI market – Revenue and Forecast Analysis – by Country
11.6.7.2 Brazil: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.6.7.2.1 Brazil: Conversational AI market Breakdown, by Component
11.6.7.2.2 Brazil: Conversational AI market Breakdown, by Type
11.6.7.2.3 Brazil: Conversational AI market Breakdown, by Deployment Type
11.6.7.2.4 Brazil: Conversational AI market Breakdown, by Industry
11.6.7.3 Argentina: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.6.7.3.1 Argentina: Conversational AI market Breakdown, by Component
11.6.7.3.2 Argentina: Conversational AI market Breakdown, by Type
11.6.7.3.3 Argentina: Conversational AI market Breakdown, by Deployment Type
11.6.7.3.4 Argentina: Conversational AI market Breakdown, by Industry
11.6.7.4 Rest of South and Central America: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.6.7.4.1 Rest of South and Central America: Conversational AI market Breakdown, by Component
11.6.7.4.2 Rest of South and Central America: Conversational AI market Breakdown, by Type
11.6.7.4.3 Rest of South and Central America: Conversational AI market Breakdown, by Deployment Type
11.6.7.4.4 Rest of South and Central America: Conversational AI market Breakdown, by Industry
12. Competitive Landscape
12.1 Heat Map Analysis By Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Product Development
14. Company Profiles
14.1 Amazon.com Inc
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 International Business Machines Corp
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Alphabet Inc
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Oracle Corp
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 SAP SE
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Microsoft Corp
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Artificial Solutions International AB
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Cognigy GmbH
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Kore.ai Inc.
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Rasa Technologies Inc
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
List of Tables
Table 1. Conversational AI market Segmentation
Table 2. Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Table 3. Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 4. Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 5. Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Deployment Type
Table 6. Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 7. North America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 8. North America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 9. North America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 10. North America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 11. North America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 12. United States: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 13. United States: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 14. United States: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 15. United States: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 16. Canada: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 17. Canada: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 18. Canada: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 19. Canada: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 20. Mexico: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 21. Mexico: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 22. Mexico: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 23. Mexico: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 24. Europe: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 25. Europe: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 26. Europe: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 27. Europe: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 28. Europe: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 29. France: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 30. France: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 31. France: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 32. France: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 33. Germany: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 34. Germany: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 35. Germany: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 36. Germany: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 37. United Kingdom: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 38. United Kingdom: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 39. United Kingdom: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 40. United Kingdom: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 41. Italy: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 42. Italy: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 43. Italy: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 44. Italy: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 45. Russian Federation: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 46. Russian Federation: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 47. Russian Federation: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 48. Russian Federation: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 49. Rest of Europe: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 50. Rest of Europe: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 51. Rest of Europe: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 52. Rest of Europe: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 53. Asia Pacific: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 54. Asia Pacific: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 55. Asia Pacific: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 56. Asia Pacific: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 57. Asia Pacific: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 58. Australia: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 59. Australia: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 60. Australia: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 61. Australia: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 62. China: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 63. China: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 64. China: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 65. China: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 66. India: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 67. India: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 68. India: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 69. India: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 70. Japan: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 71. Japan: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 72. Japan: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 73. Japan: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 74. South Korea: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 75. South Korea: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 76. South Korea: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 77. South Korea: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 78. Rest of APAC: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 79. Rest of APAC: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 80. Rest of APAC: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 81. Rest of APAC: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 82. Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 83. Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 84. Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 85. Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 86. Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 87. South Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 88. South Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 89. South Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 90. South Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 91. Saudi Arabia: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 92. Saudi Arabia: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 93. Saudi Arabia: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 94. Saudi Arabia: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 95. United Arab Emirates: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 96. United Arab Emirates: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 97. United Arab Emirates: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 98. United Arab Emirates: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 99. Rest of Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 100. Rest of Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 101. Rest of Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 102. Rest of Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 103. South and Central America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 104. South and Central America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 105. South and Central America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 106. South and Central America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 107. South and Central America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 108. Brazil: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 109. Brazil: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 110. Brazil: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 111. Brazil: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 112. Argentina: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 113. Argentina: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 114. Argentina: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 115. Argentina: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 116. Rest of South and Central America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 117. Rest of South and Central America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 118. Rest of South and Central America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Deployment Type
Table 119. Rest of South and Central America: Conversational AI market – Revenue and Forecast to 2031(US$ Million) – by Industry
Table 120. Company Positioning & Concentration
Table 121. List of Abbreviation
List of Figures
Figure 1. Conversational AI market Segmentation, by Geography
Figure 2. PEST Analysis
Figure 3. Ecosystem: Explosion-Proof Equipment Flat Cables Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Conversational AI market Revenue (US$ Million), 2021–2031
Figure 6. Conversational AI market Share (%) – by Component (2023 and 2031)
Figure 7. Platform: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Service: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Conversational AI market Share (%) – by Type (2023 and 2031)
Figure 10. Chatbots: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Intelligent Virtual Assistants: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Conversational AI market Share (%) – by Deployment Type (2023 and 2031)
Figure 13. On-Premise: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Cloud: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Conversational AI market Share (%) – by Industry (2023 and 2031)
Figure 16. Retail and E-commerce: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Healthcare and Life Sciences: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Travel and Hospitality: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. BFSI: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. IT and Telecom: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. Media and Entertainment: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Others: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. Conversational AI market Breakdown by Region, 2023 and 2031 (%)
Figure 24. North America: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 25. North America: Conversational AI market Breakdown, by Component (2023 and 2031)
Figure 26. North America: Conversational AI market Breakdown, by Type (2023 and 2031)
Figure 27. North America: Conversational AI market Breakdown, by Deployment Type (2023 and 2031)
Figure 28. North America: Conversational AI market Breakdown, by Industry (2023 and 2031)
Figure 29. North America: Conversational AI market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 30. United States: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 31. Canada: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 32. Mexico: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 33. Europe: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 34. Europe: Conversational AI market Breakdown, by Component (2023 and 2031)
Figure 35. Europe: Conversational AI market Breakdown, by Type (2023 and 2031)
Figure 36. Europe: Conversational AI market Breakdown, by Deployment Type (2023 and 2031)
Figure 37. Europe: Conversational AI market Breakdown, by Industry (2023 and 2031)
Figure 38. Europe: Conversational AI market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 39. France: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 40. Germany: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 41. United Kingdom: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 42. Italy: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 43. Russian Federation: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 44. Rest of Europe: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 45. Asia Pacific: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 46. Asia Pacific: Conversational AI market Breakdown, by Component (2023 and 2031)
Figure 47. Asia Pacific: Conversational AI market Breakdown, by Type (2023 and 2031)
Figure 48. Asia Pacific: Conversational AI market Breakdown, by Deployment Type (2023 and 2031)
Figure 49. Asia Pacific: Conversational AI market Breakdown, by Industry (2023 and 2031)
Figure 50. Asia Pacific: Conversational AI market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 51. Australia: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 52. China: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 53. India: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 54. Japan: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 55. South Korea: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 56. Rest of APAC: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 57. Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 58. Middle East and Africa: Conversational AI market Breakdown, by Component (2023 and 2031)
Figure 59. Middle East and Africa: Conversational AI market Breakdown, by Type (2023 and 2031)
Figure 60. Middle East and Africa: Conversational AI market Breakdown, by Deployment Type (2023 and 2031)
Figure 61. Middle East and Africa: Conversational AI market Breakdown, by Industry (2023 and 2031)
Figure 62. Middle East and Africa: Conversational AI market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 63. South Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 64. Saudi Arabia: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 65. United Arab Emirates: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 66. Rest of Middle East and Africa: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 67. South and Central America: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 68. South and Central America: Conversational AI market Breakdown, by Component (2023 and 2031)
Figure 69. South and Central America: Conversational AI market Breakdown, by Type (2023 and 2031)
Figure 70. South and Central America: Conversational AI market Breakdown, by Deployment Type (2023 and 2031)
Figure 71. South and Central America: Conversational AI market Breakdown, by Industry (2023 and 2031)
Figure 72. South and Central America: Conversational AI market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 73. Brazil: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 74. Argentina: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 75. Rest of South and Central America: Conversational AI market – Revenue and Forecast to 2031(US$ Million)
Figure 76. Heat Map Analysis By Key Players
The List of Companies - Conversational AI Market
- Amazon.com Inc
- International Business Machines Corp
- Alphabet Inc
- Oracle Corp
- SAP SE
- Microsoft Corp
- Artificial Solutions International AB
- Cognigy GmbH
- Kore.ai Inc.
- Rasa Technologies Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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