Conversational AI Market Size, Share, Industry Analysis, Future Growth, Segmentation, Competitive Landscape, Trends and Forecast 2032
According to a recent study by FMI, the conversational AI market is expected to reach US$ 40.5 billion by 2032, up from US$ 8.3 billion in 2022, expanding at a high CAGR of 17.2%. This study explains that the key factors such as rise in demand for AI-based Gartner chatbots solutions are expected to augment the growth of the market during the forecast period. The major factors that are expected to accelerate the growth of the conversational AI market during the forecast period include increasing demand for AI-powered customer support services, omnichannel deployment, and reduced chat bot development costs. Furthermore, the rising demand for AI-based chatbots to stay connected and increasing focus on customer engagement are the major factors adding value to the conversational AI offerings, which is expected to provide opportunities for enterprises operating in various verticals in the conversational AI market. With advancements in the use of AI technology, organizatio...