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The global conversational AI market is projected to register a CAGR of 24.9% during the forecast period, reaching USD 49.9 billion by 2030 from an estimated USD 13.2 billion in 2024. Major factors to boost the market growth include the increasing integration of AI chatbots in messaging services, emergence of generative AI, increasing integration of computer vision and voice recognition technology to facilitate more in-depth and personalized interactions, and growing focus on customer engagement and retention.

Some leading players in the conversational AI market include Microsoft (US), IBM (US), Google (US), OpenAI (US), Baidu (China), AWS (US), Artificial Solutions (Sweden), SAP (Germany), Oracle (US), Kore.ai (US), LivePerson (US), [24]7.ai (US), eGain (US), Amelia (US), Avaamo (US), Conversica (US), Haptik (India), Solvvy (US), Inbenta (US), Creative Virtual (UK), SoundHound (US), Kasisto (US), MindMeld (US), Gupshup (US), Twilio (US), Sprinklr (US), Boost.ai (Norway), Cognigy (Germany), Rasa (Germany), Saarthi.ai (India), Senseforth.ai (India), Yellow.ai (US), Exceed.ai (US), Clinc (US), Laiye (China), Rulai (US), Quiq (US), and Pypestream (US). These players have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the conversational AI market.

To know about the assumptions considered for the study download the pdf brochure

Microsoft

Microsoft's flagship product in the conversational AI market is Azure Bot Services, a comprehensive platform for building, deploying, and managing intelligent bots. Azure Bot Services leverage Microsoft Azure's cloud infrastructure and AI capabilities, enabling businesses to create conversational experiences that are highly scalable, secure, and customizable. With Azure Bot Services, organizations can easily integrate intelligent bots into their existing applications and services, automate customer interactions, and drive operational efficiency and customer satisfaction. In addition to Azure Bot Services, Microsoft offers a range of tools, frameworks, and services for developers to build and deploy conversational bots across various channels and platforms.

IBM

In the conversational AI market, IBM provides a range of solutions designed to enable businesses to build intelligent virtual assistants, chatbots, and voice-enabled interfaces. These solutions leverage IBM Watson, the company's flagship AI platform, which offers a suite of tools and APIs for natural language understanding, machine learning, and dialogue management. IBM's conversational AI solutions empower organizations to enhance customer engagement, streamline processes, and drive business growth through personalized interactions and automated support.

Google

In the conversational AI market, Google offers a range of solutions designed to revolutionize human-computer interactions and enhance user experiences. These solutions leverage advanced NLP, ML, and dialogue management technologies to enable seamless communication between users and machines. Google's offerings include Google Assistant, an AI-powered virtual assistant available on smartphones, smart speakers, and other devices, as well as Dialogflow, a platform for building and deploying conversational applications across multiple channels. Google Assistant is available on a wide range of devices, including smartphones, smart speakers, smart displays, and wearables, making it accessible to users wherever they are. With Dialogflow, developers can create rich and interactive conversational experiences that engage users and drive business outcomes.

Related Reports:

Conversational AI Market by Offering ((Software by Technology, Modality, Deployment Mode), and Services), Business Function, Integration Mode, Conversational Agents Type (AI Chatbots, Generative AI Agents), Vertical and Region - Global Forecast to 2030

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