Global conversational AI market was worth USD 6.9 billion in 2021 and is further projected to reach USD 29.9 billion by the year 2028, growing at the CAGR of 23.4% in the forecast period of 2022-2028. The market is growing at a high rate owing to factors such as rising demand for customer support services due to increasing focus on boosting customer engagement and experience.

1. Conversational AI
Market
Market to Witness a CAGR of 23.4% through
2028

2. Global conversational AI market
was worth USD 6.9 billion in
2021 and is further projected to
reach USD 29.9 billion by the
year 2028, growing at the CAGR
of 23.4% in the forecast period
of 2022-2028.

3. Growing at the
CAGR of
23.4%

4. Overview
Global Conversational AI is a technology that supports
automated messaging and speech-enabled applications
and supports computer-human interaction. This
technology combines natural language processing (NLP)
with traditional software like chatbots, voice assistants,
etc. They are gaining popularity over websites,
messaging platforms, mobile apps, etc. Conversational
AI is proving to be very effective in reducing low-end,
repetitive tasks by 20%. Some of the world’s best
conversational AI platforms are BotXO AI, SAP
Conversational AI, Kore.ai, MindMeld