Press release
Technological Advancements Drive Growth in Conversational AI Market to $26.88 Billion by 2028
Conversational AI Market Report
The conversational ai market size is expected to see exponential growth in the next few years. It will grow to $26.88 billion in 2028 at a compound annual growth rate (CAGR) of 23.6%. The growth in the forecast period can be attributed to multimodal conversational interfaces, ai-powered voice assistants, industry-specific solutions, integration with virtual and augmented reality. Major trends in the forecast period include advancements in natural language processing (nlp), rise of virtual assistants and chatbots, integration with messaging platforms, multimodal conversations, voice-activated devices and smart speakers.
Market Overview -
Conversational AI is a type of artificial intelligence that allows users to engage with computer applications, such as advanced chatbots or AI chatbots, similar to the way they would interact with other humans. Conversational artificial intelligence (AI) is used to respond to queries, resolve issues, collect information, conduct transactions, and deliver services more quickly and efficiently.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=7424&type=smp
Driving Conversational Ai Market Growth Through Enhanced Customer Engagement
Increasing focus on customer engagement is expected to drive the conversational AI market. Customer engagement is the process of communicating with customers through various channels to strengthen relationships. Most businesses are focusing on increasing the customer experience to increase customer loyalty and revenue generation. According to the 2022 State of Customer Engagement Report published by Twilio, a US-based customer engagement platform for customized experiences, companies that invested in digital client engagement had revenue growth of 70% over the past two years. Conversational AI involves the use of messaging apps, speech-based assistants, and chatbots to automate conversation and provide personalized consumer engagement. Therefore, increasing focus on customer engagement will drive the conversational AI market growth.
Competitive Landscape -
Major companies operating in the conversational ai market report are Google LLC, International Business Machines Corporation (IBM), Amazon Web Services Inc., Artificial Solutions Holding ASH AB, Baidu Inc., Haptik, Microsoft Corporation, Oracle Corporation, SAP SE, Conversica Inc., Nuance Communications Inc., Rasa Technologies GmbH, Avaamo Inc., Kore. ai Inc., Cognitivescale Inc., Kasisto Inc., Creative Virtual Ltd., Inbenta Technologies Inc., Next IT Corporation, Verint Systems Inc., 24/7 Customer Inc., Botpress, Chatfuel, Clinc Inc., DigitalGenius Inc., Exceed. ai, Interactions LLC, LivePerson Inc., Mindmeld Inc., Pypestream Inc.
Revolutionizing Conversational Ai With Technological Advancements For All Industries
Technological advancements in conversational AI are a key trend in the market. Companies operating in the conversational AI market have come up with various technological advancements such as no-code development technology, easier deployment, advanced machine learning and natural language processing technology to increase usage and adoption of conversational AI in industries with no technical background. For instance, in November 2021, ZeroShotBot, a chatbot builder based in the United States, released a new innovative conversational AI technology that democratizes chatbots for both large and small organizations. ZeroShotBot is an approach to constructing chatbots that can be scalable in hours and do not require training data, allowing anyone with no coding knowledge or training to create a fully functional chatbot.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/conversational-ai-global-market-report
Key Segments -
The conversational ai market covered in this report is segmented -
1) By Type: IVA, Chatbots
2) By Component: Platform, Services
3) By Deployment: Cloud, On-Premises
4) By Technology: Machine Learning, Deep Learning, NLP, Automated Speech Recognition
5) By End User: BFSI, Retail and E-commerce, Healthcare and Life Science, Travel and Hospitality, Telecom, Media and Entertainment, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Technological Advancements Drive Growth in Conversational AI Market to $26.88 Billion by 2028 here
News-ID: 3489875 • Views: …
More Releases from The Business Research Company
Technological Advancements With App Based Subscription Programs Industry Trends …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Car Washing Service Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent years, the car washing service market size has been expanding at a consistent rate. It is projected that from $30.1 billion in 2024, it will surge to $30.75 billion in 2025, with…
Major Growth Driver Identified in 2025 Well Intervention Market: Rising Energy D …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Well Intervention Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the well intervention market has seen consistent growth over the past few years. The market, which will increase from $9.39 billion in 2024 to $9.84 billion in 2025 at a compound annual…
Growing E-Commerce Sector Fuels Demand For Telephone Call Centers: Critical Driv …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Telephone Call Centers Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for telephone call centers has seen a slight rise in recent years. The market value is predicted to increase from $136.61 billion in 2024 to $138.62 billion in 2025, maintaining a compound…
Private Household Services Market Expansion Continues, with Forecast Valuation o …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Private Household Services Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
There has been a significant expansion in the private household services market size in the past few years. This market will see an escalation from $321.58 billion in 2024 to $351.99 billion in 2025,…
More Releases for Conversational
Conversational AI and Customer Experience Summit
The 2nd Annual Conversational AI & Customer Experience Summit (CACES) Returns to Jakarta, Indonesia. in 2025 to Power the Future of AI-Driven Experience.
Jakarta, Indonesia, 17th June 2025, ZEX PR WIRE, Following the tremendous success of its debut edition, the 2nd Annual Conversational AI & Customer Experience Summit 2025 is set to return bigger and bolder on 24th July 2025 at the prestigious JS Luwansa Hotel, Jakarta. This premier one-day event,…
Conversational Systems Market: Conversational Systems to Reach USD 121.1B by 203 …
Conversational Systems Market Scope:
Key Insights : Conversational Systems Market size was valued at USD 13.13 billion in 2022 and is poised to grow from USD 16.8 billion in 2023 to USD 121.1 billion by 2031, growing at a CAGR of 28% during the forecast period (2024-2031).
Discover Your Competitive Edge with a Free Sample Report :https://www.skyquestt.com/sample-request/conversational-systems-market
Access the full 2024 Market report for a comprehensive understanding @https://www.skyquestt.com/report/conversational-systems-market
In-Depth Exploration of the global Conversational Systems Market: This report…
Conversational AI - Revolutionizing Human-Computer Interaction
Introduction
Conversational AI has emerged as one of the most transformative technologies in recent years. It encompasses a set of technologies that enable machines to understand, process, and respond to human language in a natural, conversational manner. From virtual assistants like Siri and Alexa to customer service chatbots and voice-powered devices, conversational AI is reshaping the way humans interact with technology.
The core of conversational AI lies in its ability to simulate…
Global Conversational Commerce Market Size
According to a new market research report published by Global Market Estimates, the global conversational commerce market is expected to grow at a CAGR of 15.8% from 2023 to 2028.
The rising popularity of messaging applications and chatbots is one of the key drivers of the worldwide conversational commerce industry. Businesses have seen the need to integrate messaging applications into their customer service operations as more people use them to communicate.
Browse…
Conversational IVR Market Size & Analysis
According to a new market research report published by Global Market Estimates, the Global Conversational IVR Market is projected to grow at a CAGR of 7.7% from 2023 to 2028.
Conversational IVR market growth is driven by factors such as increased demand for personalized customer experiences, advancements in AI and NLP technologies, emphasis on self-service and automation, and the preference for omnichannel engagement, resulting in cost reduction and improved operational efficiency.
Browse…
Conversational AI Market Size & Analysis
According to a new market research report published by Global Market Estimates, the Global Conversational AI Market is projected to grow from USD 5.21 billion in 2022 to USD 31.54 billion at a CAGR of 21.8% from 2022 to 2027.
Google, Microsoft, IBM, AWS, Oracle, SAP, FIS, Baidu, and Artificial Solution among others, are the some of the key players in the conversational AI market.
Browse 153 Market Data Tables…
