![]() Many industries are now using chatbots and smart speakers for instance, in the banking sector, customers rely on instant communication and chatbots to maintain the relationship with the customers through cognitive analytics.Ĭhatbot market earlier valued at 18 billion dollars in 2020, which expects to reach around 100 billion dollars by 2026 with the annual growth rate predicted to be over 35 % in this period. Virtual assistants are now increasing due to advancements in machine learning and AI technologies. Companies are working towards developing self-learning chatbots to provide a more human-like experience. Consequently, the chatbots’ market size expects to increase from 2.6 billion dollars in 2019 to 10 billion by the end of 2024 at an annual growth rate of around 30 %. Enhancements in chatbot market size :ĭue to the rise in customers’ demands for self-services and round-the-clock assistance, Companies are investing more in chatbots. ![]() Chatbots can save the cost of over 8 billion more per annum by the year 2022, which is now 20 billion dollars. Also, Juniper research defines them as a c omputer-based technology to stimulate conversations with the customers, including automated processes triggered through these interactions.Ĭhatbots have the power to support all types of industries, right from a simple banking transaction to the minute customer queries over a password. AI holds the power to converse fluently with the users. Chatbot market statistics Global savings due to chatbots :Ĭhatbots have the endless potential to replace human agents’ tedious tasks. Read further to know about each of the segments in detail : What are the best chatbot statistics for the year 2023? 1. You can read further the chatbot statistics to get acquainted with the ongoing trends and how they can influence your marketing strategies.įor your convenience, we are dividing the chatbot statistics into five segments to know the importance of chatbots in each arena: It clearly shows the need for chatbots in the current marketing scenarios. Many companies have digitized the processes, and companies are now adopting chatbots not only for customer services but also for generating leads. The current year 2022 will see a massive adoption in the Chatbots due to the pandemic outbreak. AI chatbots will give them immediate solutions. The chatbots can easily handle repetitive queries and allow the agents to focus on complex queries.įor example,- If a customer forgets his password and wants to reset it, they do not have to wait for the agents’ response. In other words, the current situation demands immediacy from the customers’ point of view, and Chatbot is the ultimate solution for providing real-time feedback. They want businesses to serve and respond to them in real-time. ![]() Consequently, more than 64% of the businesses plan to invest in marketing automation in the upcoming years.ĭue to contactless communication between the customers and brands, people rely more and more on live chats. ![]() More than 71 % of Information technology developers believe that AI and marketing automation can quickly improve customer services during the pandemic and the period afterward. ![]() Many businesses are rewiring technological needs. Meanwhile, due to the outbreak of the coronavirus. In 2018, Gartner concluded through a survey that more than 25 % of the customer service operations would be using Artificial intelligence and chatbots till the year 2020. ![]()
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