What is Global Conversational AI Platforms Market?
The Global Conversational AI Platforms Market is a rapidly evolving sector that focuses on the development and application of artificial intelligence (AI) in conversation platforms. These platforms are designed to understand, process, and respond to human language in a natural and meaningful way, providing a seamless interaction between humans and machines. This technology is being increasingly adopted across various industries, including retail, healthcare, finance, and more, to enhance customer experience, streamline operations, and drive business growth. The market encompasses various components such as solutions and services, which are further divided into platform and system integration, training, and support. The global market is driven by factors such as the increasing demand for AI-powered customer support services, the growing use of social media for advertising, and the rising need for sentiment analysis.
Cloud-Based, On-Premise in the Global Conversational AI Platforms Market:
The Global Conversational AI Platforms Market is segmented based on deployment into Cloud-Based and On-Premise solutions. Cloud-Based solutions are hosted on the vendor's server and can be accessed through the internet. They offer numerous benefits such as scalability, flexibility, cost-effectiveness, and remote accessibility, making them a popular choice among businesses of all sizes. On the other hand, On-Premise solutions are installed and run on computers within the premises of the organization. They offer greater control over data and are preferred by organizations with strict data security regulations. Both these deployment models have their own set of advantages and are chosen based on the specific needs and resources of the organization.
Large Enterprises(1000+ Users), Medium-Sized Enterprise(499-1000 Users), Small Enterprises(1-499 Users) in the Global Conversational AI Platforms Market:
The Global Conversational AI Platforms Market finds usage across various enterprise sizes including Large Enterprises (1000+ Users), Medium-Sized Enterprises (499-1000 Users), and Small Enterprises (1-499 Users). Large enterprises leverage these platforms to enhance customer service, streamline operations, and gain insights from large volumes of data. Medium-sized enterprises use them to improve operational efficiency and customer engagement. Small enterprises, on the other hand, utilize these platforms to gain a competitive edge and drive business growth. The adoption of conversational AI platforms across these enterprises is driven by the need to deliver personalized customer experiences, improve decision-making, and reduce operational costs.
Global Conversational AI Platforms Market Outlook:
The Global Conversational AI Platforms Market has shown significant growth in recent years. In 2023, the market was valued at US$ 2352.3 million and is projected to reach a value of US$ 5331 million by 2030. This represents a Compound Annual Growth Rate (CAGR) of 12.1% during the forecast period from 2024 to 2030. The United States, a key player in the market, plans to increase its investment in non-defense artificial intelligence research and development from US$1.6 billion to US$1.7 billion in 2022, further propelling the growth of the market.
| Report Metric | Details |
| Report Name | Conversational AI Platforms Market |
| Accounted market size in 2023 | US$ 2352.3 million |
| Forecasted market size in 2030 | US$ 5331 million |
| CAGR | 12.1% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Acobot, ExecVision, FunnelDash, Gong.io, Activechat, LivePerson, Marchex, LiveChat, Brazen, Continually, SmatSocial, Kommunicate, Solvemate, Hellomybot, Bold360, Chatfuel, Conversica, Smith.ai, Locobuzz Solutions, Recast.AI, Dialogflow, ApexChat, BotXO, SoundHound, OneReach.ai, Synthetix |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
