Predicted Growth of the Chatbot Market to Reach $84.78 Billion by 2036

Monday, 18 March 2024, 09:30
The global chatbot market is forecasted to grow at a CAGR of approximately 22.87% between 2024 and 2036, aiming to achieve a revenue milestone of $84.78 billion by 2036 from $5.87 billion in 2023. Industry players such as Creative Virtual, eGain Corporation, and IBM Corporation are set to contribute to this significant expansion. This projected growth underlines the increasing adoption and investment in conversational AI technology for diverse applications.
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Predicted Growth of the Chatbot Market to Reach $84.78 Billion by 2036

Chatbot Market Report

The global chatbot market is on track to reach a revenue of $84.78 billion by the end of 2036, reflecting a remarkable growth projection from its $5.87 billion revenue in 2023. Leading players in this industry include Creative Virtual, eGain Corporation, and IBM Corporation. Noteworthy contributors also consist of Botsify, Aivo Conversational AI, and Acuvate.

Market Growth Projection

The market is expected to expand at a ~22.87% CAGR over the period from 2024 to 2036, indicating a substantial rise in demand for chatbot services and solutions. Companies like Chatfuel, Google Inc., and Inbenta Holdings Inc. are poised to capitalize on this evolving landscape, along with Bitonic Technology Labs Inc..

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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