Chatbot Market: By Component (Solution, Service), By Deployment (On-Premises and Cloud), By Application (Website, Contact Centers, Social Media, Application), By End User (Banking, Financial Services and Insurance (BFSI), Retail and ecommerce, Information Technology (IT) and Telecom, Media and Entertainment, Healthcare, Others (Government and Education)) and Geography

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Chatbot Market size was valued at USD 3.5 billion in 2022  estimated to reach at USD 19.3 billion by 2029, growing at a significant CAGR of 27.7% from 2023 to 2029. The global market provides a detailed overview of the market, which has been segmented by component, deployment, application, and end user. By component, the chatbot market has been segmented into Solutions and services. The Service segment is likely the most significant and fastest-growing segment in terms of features. By deployment, the chatbot market has been segmented into On-Premises and Cloud. The On-Premises segment accounted substantial revenue share in 2021. The chatbot market has been segmented by website, Contact Centers, social media, and other applications. The Social -Media segment is expected to account for a significant revenue share during 2023-2029. Based on end user, the chatbot market is segmented into Banking, Financial Services and Insurance (BFSI), Retail and eCommerce, Information Technology (IT) and Telecom, Media and Entertainment, Virtual Healthcare, and Others (Government and Education. According to precision business insights, the Retail and eCommerce segment is predicted to register the fastest growth rate during the forecast period.

Chatbot Market Key Development:

In February 2021, Kore.ai launched a Virtual Assistant Platform in Japanese. To better serve the Japan region's needs and accelerate the adoption of virtual assistants' the company released the Kore virtual assistant platform in Japanese. This will help enterprise customers improve time-to-market and enhance the customer experience in their native language.

Chatbot Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

27.7%

Largest Market

North America

Fastest Growing Market

Asia Pacific
Chatbot Market Dynamics

Consumer desire for self-service operations and the requirement to provide 24x7 customer service and save operational costs by signing jobs to chatbots have driven the product demand.

Key Features of the Reports

  • The chatbot market report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
  • The chatbot market report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
  • The chatbot market report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The chatbot market report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The chatbot market report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

Chatbot Market Segmentation

By Component
  • Solution,
  • Service
By Deployment Mode
  • On-Premises and
  • Cloud
By Application
  • Website,
  • Contact Centers,
  • Social Media,
  • Application
By End User
  • Banking,
  • Financial Services and Insurance (BFSI),
  • Retail and ecommerce,
  • Information Technology (IT) and Telecom,
  • Media and Entertainment,
  • Healthcare,
  • Others

Frequently Asked Questions

The chatbot market is projected to expand at a CAGR of 27.7% during the forecast period.

The major players in the global Chatbot market are [24]7.ai, Inc., Acuvate, Aivo, Artificial Solutions, Botsify Inc., Creative Virtual Ltd., eGain Corporation, IBM Corporation, Inbenta Technologies Inc., Next IT Corp., and Nuance Communications, Inc.

Asia Pacific is the fastest-growing region for chatbot market

1. Executive Summary
2. Global Chatbot Market Introduction
2.1. Global Chatbot Market - Taxonomy
2.2. Global Chatbot Market -Definitions
2.2.1. By Component
2.2.2. By Deployment
2.2.3. By Application
2.2.4. By End User
2.2.5. By Region
3. Global Chatbot Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Chatbot Market Dynamic Factors - Impact Analysis
3.6. Global Chatbot Market - Competition Landscape
4. Global Chatbot Market Analysis,2018-2022 and Forecast, 2023-2029
4.1. Market Analysis,2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Chatbot Market, By Component, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.1. Solution
5.1.1. Software
5.1.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.1.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.1.3. Market Opportunity Analysis
5.1.2. Platform
5.1.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.1.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.2.3. Market Opportunity Analysis
5.2. Service
5.2.1. Managed Services
5.2.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.2.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.1.3. Market Opportunity Analysis
5.2.2. Professional Services
5.2.2.1. Consulting
5.2.2.1.1  Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.2.2.1.2  Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.2.1.3  Market Opportunity Analysis
5.2.2.2. System Integration and  Implementation
5.2.2.2.1  Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.2.2.2.2  Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.2.2.3  Market Opportunity Analysis
5.2.2.3. Support and Maintenance
5.2.2.3.1  Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.2.2.3.2  Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.2.3.3  Market Opportunity Analysis
6. Global Chatbot Market, By Deployment, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
6.1. On-Premises
6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Cloud
6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
7. Global Chatbot Market, By Application, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
7.1. Website
7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Contact Centers
7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Social Media
7.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Mobile Application
7.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
8. Global Chatbot Market, By End User, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
8.1. Banking, Financial Services and Insurance (BFSI)
8.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Retail and ecommerce
8.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Information Technology (IT) and Telecom
8.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Media and Entertainment
8.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Healthcare
8.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Others (Government and Education)
8.6.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
8.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.6.3. Market Opportunity Analysis
9. Global Chatbot Market Forecast, By Region, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
9.1. North America
9.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.1.3. Market Opportunity Analysis
9.2. Europe
9.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.2.3. Market Opportunity Analysis
9.3. Asia-Pacific
9.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.3.3. Market Opportunity Analysis
9.4. Latin America
9.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.4.3. Market Opportunity Analysis
9.5. Middle East and Africa
9.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.5.3. Market Opportunity Analysis
9.6. Global Chatbot Market - Opportunity Analysis Index, By Component, Deployment, Application, End User, and Region, 2023-2029
10. North America Chatbot Market Analysis,2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
10.1. Component Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Solutions
10.1.1.1. Software
10.1.1.2. Platform
10.1.2. Services
10.1.2.1. Managed Services
10.1.2.2. Professional Services
10.1.2.2.1.  Consulting
10.1.2.2.2.  System Integration and  Implementation
10.1.2.2.3.  Support and Maintenance
10.2. Deployment Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. On-Premises
10.2.2. Cloud
10.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Website
10.3.2. Contact Centers
10.3.3. Social Media
10.3.4. Mobile Application
10.4. End User Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.4.1. Banking, Financial Services and Insurance (BFSI)
10.4.2. Retail and ecommerce
10.4.3. Information Technology (IT) and Telecom
10.4.4. Media and Entertainment
10.4.5. Healthcare
10.4.6. Others (Government and Education)
10.5. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.5.1. USA
10.5.2. Canada
10.6. North America Chatbot Market - Opportunity Analysis Index, By Component, Deployment, Application, End User, and Country, 2023-2029
10.7. North America Chatbot Market Dynamics - Trends
11. Europe Chatbot Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
11.1. Component Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Solutions
11.1.1.1. Software
11.1.1.2. Platform
11.1.2. Services
11.1.2.1. Managed Services
11.1.2.2. Professional Services
11.1.2.2.1.  Consulting
11.1.2.2.2.  System Integration and  Implementation
11.1.2.2.3.  Support and Maintenance
11.2. Deployment Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. On-Premises
11.2.2. Cloud
11.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Website
11.3.2. Contact Centers
11.3.3. Social Media
11.3.4. Mobile Application
11.4. End User Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.4.1. Banking, Financial Services and Insurance (BFSI)
11.4.2. Retail and ecommerce
11.4.3. Information Technology (IT) and Telecom
11.4.4. Media and Entertainment
11.4.5. Healthcare
11.4.6. Others (Government and Education)
11.5. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.5.1. Germany
11.5.2. UK
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Russia
11.5.7. Rest of Europe
11.6. Europe Chatbot Market - Opportunity Analysis Index, By Component, Deployment, Application, End User, and Country, 2023-2029
11.7. Europe Chatbot Market Dynamics - Trends
12. Asia-Pacific Chatbot Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
12.1. Component Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Solutions
12.1.1.1. Software
12.1.1.2. Platform
12.1.2. Services
12.1.2.1. Managed Services
12.1.2.2. Professional Services
12.1.2.2.1.  Consulting
12.1.2.2.2.  System Integration and  Implementation
12.1.2.2.3.  Support and Maintenance
12.2. Deployment Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. On-Premises
12.2.2. Cloud
12.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Website
12.3.2. Contact Centers
12.3.3. Social Media
12.3.4. Mobile Application
12.4. End User Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.4.1. Banking, Financial Services and Insurance (BFSI)
12.4.2. Retail and ecommerce
12.4.3. Information Technology (IT) and Telecom
12.4.4. Media and Entertainment
12.4.5. Healthcare
12.4.6. Others (Government and Education)
12.5. Country Analysis2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.5.1. China
12.5.2. India
12.5.3. Japan
12.5.4. ASEAN
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia-Pacific
12.6. Asia-Pacific Chatbot Market - Opportunity Analysis Index, By Component, Deployment, Application, End User, and Country,2023-2029
12.7. Asia-Pacific Chatbot Market Dynamics - Trends
13. Latin America Chatbot Market Analysis,2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
13.1. Component Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Solutions
13.1.1.1. Software
13.1.1.2. Platform
13.1.2. Services
13.1.2.1. Managed Services
13.1.2.2. Professional Services
13.1.2.2.1.  Consulting
13.1.2.2.2.  System Integration and  Implementation
13.1.2.2.3.  Support and Maintenance
13.2. Deployment Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. On-Premises
13.2.2. Cloud
13.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Website
13.3.2. Contact Centers
13.3.3. Social Media
13.3.4. Mobile Application
13.4. End User Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.4.1. Banking, Financial Services and Insurance (BFSI)
13.4.2. Retail and ecommerce
13.4.3. Information Technology (IT) and Telecom
13.4.4. Media and Entertainment
13.4.5. Healthcare
13.4.6. Others (Government and Education)
13.5. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Latin America Chatbot Market - Opportunity Analysis Index, By Component, Deployment, Application, End User, and Country, 2023-2029
13.7. Latin America Chatbot Market Dynamics - Trends
14. Middle East and Africa Chatbot Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
14.1. Component Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.1.1. Solutions
14.1.1.1. Software
14.1.1.2. Platform
14.1.2. Services
14.1.2.1. Managed Services
14.1.2.2. Professional Services
14.1.2.2.1.  Consulting
14.1.2.2.2.  System Integration and  Implementation
14.1.2.2.3.  Support and Maintenance
14.2. Deployment Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.2.1. On-Premises
14.2.2. Cloud
14.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.3.1. Website
14.3.2. Contact Centers
14.3.3. Social Media
14.3.4. Mobile Application
14.4. End User Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.4.1. Banking, Financial Services and Insurance (BFSI)
14.4.2. Retail and ecommerce
14.4.3. Information Technology (IT) and Telecom
14.4.4. Media and Entertainment
14.4.5. Healthcare
14.4.6. Others (Government and Education)
14.5. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
14.5.1. Gulf Cooperation Council (GCC) Countries
14.5.2. South Africa
14.5.3. Rest of MEA
14.6. MEA Chatbot Market - Opportunity Analysis Index, By Component, Deployment, Application, End User, and Country, 2023-2029
14.7. MEA Chatbot Market Dynamics - Trends
15. Competition Landscape
15.1. Strategic Dashboard of Top Market Players
15.2. Company Profiles (Introduction, Financial Analysis, KeyOfferings, Key Developments, Strategies, and SWOT Analysis)
15.2.1. [24]7.ai, Inc.
15.2.2. Amazon Web Services Inc. (Amazon Lex)
15.2.3. Artificial Solutions Holding ASH AB
15.2.4. Avaamo Inc.
15.2.5. Creative Virtual Ltd
15.2.6. Dialogflow (Google)
15.2.7. EdgeVerve Systems Limited (An Infosys Company)
15.2.8. eGain Corporation
15.2.9. IBM Corporation
15.2.10. Inbenta Technologies Inc.
15.2.11. Ipsoft Inc.
15.2.12. Kore.ai Inc.
15.2.13. LiveChat Inc.
15.2.14. Nuance Communications
15.2.15. Serviceaide Inc.
15.2.16. SMOOCH.ai (Zendesk)
16. Research Methodology
17. Key Assumptions and Acronyms
  • [24]7.ai, Inc.
  • Amazon Web Services Inc. (Amazon Lex)
  • Artificial Solutions Holding ASH AB
  • Avaamo Inc.
  • Creative Virtual Ltd
  • Dialogflow (Google)
  • EdgeVerve Systems Limited (An Infosys Company)
  • eGain Corporation
  • IBM Corporation
  • Inbenta Technologies Inc.
  • Ipsoft Inc.
  • Kore.ai Inc.
  • LiveChat Inc.
  • Nuance Communications
  • Serviceaide Inc.
  • SMOOCH.ai (Zendesk)

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