Conversational Systems Market Size

  • Report ID: 4181
  • Published Date: Dec 06, 2024
  • Report Format: PDF, PPT

Conversational Systems Market Size

Conversational Systems Market size was over USD 234.49 billion in 2024 and is poised to exceed USD 7.17 trillion by 2037, growing at over 30.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of veterinary orthotics-prosthetics is estimated at USD 290.96 billion. The growth of the market can be attributed to the increasing adoption of natural language processing, artificial intelligence chatbots, and advancements in cloud services during the forecast period. As per International Finance Corporation, over 70 billion IoT devices were available across the globe in 2020 and are further projected to be tripled in the upcoming 5 years. The increasing demand for good customer service in all sectors is rising the need for chatbots. It is estimated that people who faced bad customer service lost trust and left the brand. The chatbots here help to generate automatic responses to the customers which makes them feel recognized. It also advertises new products with notifications and reduces employee costs through conversational AI implementation.

The market growth can be further attributed to the increasing deep neural networks, and machine learning technology used for application across various verticals like retail, BFSI, IT, telecommunications, and healthcare segments. Based on the data provided by UNESCO, AI was projected to generate an almost added value of USD 4 trillion by 2022. The global conversational systems market is based on artificial intelligence that can understand various languages and will start written or verbal communication with the customer. Hence, all these factors are estimated to hike the growth of the market over the forecast period.


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Author Credits:  Abhishek Verma


  • Report ID: 4181
  • Published Date: Dec 06, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of veterinary orthotics-prosthetics is estimated at USD 290.96 billion.

The conversational systems market size was over USD 234.49 billion in 2024 and is poised to exceed USD 7.17 trillion by 2037, growing at over 30.1% CAGR during the forecast period i.e., between 2025-2037. Increase adoption of NLP (natural language processing) and the increase in dialog exchanging tools will boost the market growth.

North America industry is poised to account for largest revenue share of NA% by 2037, attributed to increasing development of deep neural networks, machine learning, and other technological advancements.

The major players in the market are Google LLC, International Business Machines Corporation (IBM Corp.), Microsoft Corporation, Amazon Web Services, Inc., Artificial Solutions International AB, Oracle Corporation, SAP SE, Nuance Communication, Inc., Baidu, Inc., Conversica, Inc.
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