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The global chatbot market size stood at a value of around USD 839.33 million in 2023. The market is further expected to grow at a CAGR of 24.9% in the forecast period of 2024-2032 to attain a value of USD 6,210.48 million by 2032.
A chatbot, as the name suggests, is a software application that utilises artificial intelligence and natural language processing to conduct online chat conversations with an individual. Chatbots are software programs that simulate human-like conversation.
These dialogue systems are mainly adopted by businesses for customer service enhancement, as they provide immediate automated responses and make the experience more personalised. For example, there are rule-based chatbots that answer set questions such as frequently asked questions. In contrast, AI chatbots learn from human behaviour over time, predict subsequent interactions and offer relevant information.
With the advent of smartphones and smart speakers, companies like Apple, Amazon, and Google introduced virtual assistants that use voice recognition and complex algorithms to assist users. Recent years have seen significant improvements in AI, with chatbots becoming more capable of handling complex conversations and tasks.
Chatbots also assist in scheduling appointments, providing medical information, and even offering preliminary diagnoses in some cases. E-commerce sites use chatbots to assist customers in shopping, recommending products, and managing transactions. Furthermore, they are used in games and as virtual companions for entertainment purposes. As technology continues to advance, the capabilities and applications of chatbots are likely to expand even further.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Chatbot Market Analysis
8.1 Key Industry Highlights
8.2 Global Chatbot Historical Market (2018-2023)
8.3 Global Chatbot Market Forecast (2024-2032)
8.4 Global Chatbot Market by Type
8.4.1 Standalone
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Web based
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Messenger Based/Third Party
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Chatbot Market by Product Landscape
8.5.1 Artificial Intelligence
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Marketing
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Human Intelligence
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Chatbot Market by Application
8.6.1 Bots for Service
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Bots for Social Media
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Bots for Payments/Order Processing
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Bots for Marketing
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Chatbot Market by End Use
8.7.1 Healthcare
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Retail
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Banking Financial Services and Insurance (BFSI)
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Media and Entertainment
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Travel and Tourism
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 E-commerce
8.7.6.1 Historical Trend (2018-2023)
8.7.6.2 Forecast Trend (2024-2032)
8.7.7 Others
8.8 Global Chatbot Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Chatbot Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Chatbot Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Chatbot Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Chatbot Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Chatbot Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 [24]7.ai, Inc
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Aivo LLC
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Artificial Solutions International AB
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Botsify Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Creative Virtual Private Limited
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Inbenta Technologies Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 IBM Corporation
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 eGain Corporation
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Chatbot Market: Key Industry Highlights, 2018 and 2032
2. Global Chatbot Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Chatbot Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Chatbot Historical Market: Breakup by Product Landscape (USD Million), 2018-2023
5. Global Chatbot Market Forecast: Breakup by Product Landscape (USD Million), 2024-2032
6. Global Chatbot Historical Market: Breakup by Application (USD Million), 2018-2023
7. Global Chatbot Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Global Chatbot Historical Market: Breakup by End Use (USD Million), 2018-2023
9. Global Chatbot Market Forecast: Breakup by End Use (USD Million), 2024-2032
10. Global Chatbot Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Chatbot Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Chatbot Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Chatbot Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Chatbot Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Chatbot Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Chatbot Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Chatbot Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Chatbot Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Chatbot Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Chatbot Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Chatbot Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Chatbot Market Structure
In 2023, the global chatbot market attained a value of nearly USD 839.33 million.
The market is projected to grow at a CAGR of 24.9% between 2024 and 2032.
The major drivers of the market are the increasing demand for automated customer services, the growing implementation of chatbots in various industry verticals, and the increasing demand for enhanced and speedy customer experiences.
The increasing development in artificial intelligence and the rapid technological advancements are the key trends guiding the market growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant types of chatbot are standalone, web based, and messenger based/third party.
Artificial intelligence, marketing, and human intelligence are the various product landscapes of chatbot considered in the market report.
The major applications of the product include bots for service, bots for social media, bots for payments/order processing, and bots for marketing, among others.
The different end uses of chatbot include healthcare, retail, banking financial services and insurance (BFSI), media and entertainment, travel and tourism, and e-commerce, among others.
The major players in the market are [24]7.ai, Inc, Aivo LLC, Artificial Solutions International AB, Botsify Inc., Creative Virtual Private Limited, Inbenta Technologies Inc., IBM Corporation, and eGain Corporation, among others.
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