Global Conversational Commerce Market Projected to Surpass $17.63 Billion by 2029 with 7.9% Annual Growth

What combination of drivers is leading to accelerated growth in the conversational commerce market?
The development of the e-commerce sector is projected to spur the progress of the conversational commerce market. E-commerce or the transfer of goods and services over the internet can optimize retailers' abilities to sell their products by leveraging tools such as AI-driven text and voice assistants, social messaging apps, and other conversational commerce mechanisms. The United States Census Bureau, a department of commerce based in the US, noted that US retail e-commerce sales marginally increased by 0.9% in the third quarter of 2023 to $271.7 billion from $269.3 billion in Q2 2023. However, the growth in e-commerce sales outpaced previous quarters with a 7.8% rise in Q3 2023 against Q3 2022. Therefore, the development of the e-commerce sector is significantly driving the growth of the conversational commerce market.

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What is the projected compound annual growth rate (CAGR) of the conversational commerce market from 2025 to 2034, and what factors influence it?
There has been a fast-paced expansion in the size of the conversational commerce market in the past years. A surge from $11.04 billion in 2024 to $13 billion in 2025 is expected, boasting a compound annual growth rate (CAGR) of 17.7%. The swift growth during the historic period is due to factors such as the rise in demand from various industries, enhanced customer support and personal assistance, the importance of data privacy and compliance, increased usage of messaging apps, and a burgeoning demand for personalized customer experience.

In the coming years, the market size of conversational commerce is anticipated to experience robust growth, escalating to a value of $17.63 billion by 2029, at a 7.9% compound annual growth rate (CAGR). Factors contributing to the growth during the forecast period include the examination of consumer behavior, expansion of the global market, increased need for multilingual chatbots, and the rising incorporation of chatbots in e-commerce, as well as growing demand for voice-activated chatbots. Predicted trends for the forecast period encompass improvements in natural language processing, multimodal dialogues, solutions tailored to specific industries, the inclusion of voice assistants in IoT devices, and continuous learning and adaptation.

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How are the latest trends influencing the growth of the conversational commerce market?
Leading firms in the conversational commerce industry are conceptualizing unique products like Bobble Super to more effectively understand the desires, requirements, and queries of their clientele. Featuring integration with Bobble AI's AI-driven keyboard, Bobble Super delivers a seamless and simplified retail experience for consumers. For example, Bobble AI, a conversation media platform originating from India, unveiled Bobble Super in March 2023. This platform facilitates easy, customized and immediate intent-based shopping directly from its keyboard app. Clients can make food orders, reserve flight tickets, and dispatch gifts online to an excess of 100 companies including Swiggy, Redrail, Winni, and Garnier. Leveraging advanced intent identification technology that tracks users' purposes across their smartphone usage in real time, the Super Keyboard app curates bespoke product and service suggestions throughout users' smartphone journey.

What are the major segments of the conversational commerce market and their role in driving growth?
The conversational commerce market covered in this report is segmented -

1) By Type: Chatbots, Intelligent Virtual Assistants
2) By Component: Solution, Services
3) By Deployment Mode: Cloud, On-Premises
4)By Enterprise Size: Small And Mid-Sized Enterprises (SMEs), Large Enterprises

Subsegments:
1) By Chatbots: Rule-Based Chatbots, AI-Powered Chatbots, E-commerce Chatbots, Customer Support Chatbots
2) By Intelligent Virtual Assistants: Voice Assistants, Text-Based Assistants, Multi-Channel Assistants, Personal Shopping Assistants

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Which regions are key players in the growth of the conversational commerce market?
North America was the largest region in the conversational commerce market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the conversational commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the conversational commerce market?
Major companies operating in the conversational commerce market report are Amazon Inc., Apple Inc., Google LLC, Microsoft Corporation, Facebook Inc., IBM Corporation, Oracle Corporation, Salesforce Inc., Shopify Inc., Webio Ltd., Zendesk Inc., Nuance Communications Inc., LivePerson, HubSpot, Kore.ai Inc., Intercom Inc., Drift.com Inc., Haptic Technologies Pvt Ltd., SleekFlow, Yalochat, CogniCor Technologies, Charles GmbH, Octane AI, Recart, Bobble Keyboard

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What Is Covered In The Conversational Commerce Global Market Report?

• Market Size Forecast: Examine the conversational commerce market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the conversational commerce market for a structured understanding.
• Key Players Overview: Analyze major players in the conversational commerce market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the conversational commerce market.
• Segment Contributions: Evaluate how different segments drive overall growth in the conversational commerce market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the conversational commerce market.
• Industry Challenges: Identify potential risks and obstacles affecting the conversational commerce market.
• Competitive Landscape: Review strategic developments in the conversational commerce market, including expansions, agreements, and new product launches.

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