The conversational artificial intelligence (AI) market generated $3.2 billion and is predicted to reach $15.0 billion in 2024, advancing at a 30.2%…

Conversational AI Market Research Report: By Component (Platform, Service), Deployment (Cloud, On-Premises), Type (Chatbot, IVA, IVR), Industry (BFSI, Retail and E-Commerce, Healthcare, Hospitality, Telecom, Media and Entertainment), Technology (Natural Language Processing, Machine Learning, Automated Speech Recognition), Application (Customer Support , Personal Assistant, Branding and Advertisement, Customer Engagement and Retention, Onboarding and Employee Engagement), Geographical Outlook (U.

New York, Jan. 30, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Conversational AI Market" - https://www.reportlinker.com/p05842913/?utm_source=GNW S., Canada, U.K., Germany, France, Russia, Italy, China, Japan, India, South Korea, Australia, Brazil, Mexico, U.A.E., Saudi Arabia, Turkey, South Africa) - Global Industry Analysis and Forecast to 2024

In 2018, the conversational artificial intelligence (AI) market generated $3.2 billion and is predicted to reach $15.0 billion in 2024, advancing at a 30.2% CAGR during 20192024. The market is growing due to the rising demand for AI-powered customer support services, positive return on investment (ROI) for companies deploying conversational AI solutions, and increasing number of solution providers in the market. Conversational AI refers to the application of intelligent virtual assistants (IVA), intelligent interactive voice response (IVR), and chatbots in different industries for automating interactions with the customer and creating a personalized customer experience. On the basis of technology, the conversational AI market is divided into automated speech recognition, natural language processing, machine learning, and others (which include cognitive computing, computer vision, image processing, and video recognition). During the forecast period, the machine learning division is predicted to witness the fastest growth. The reason for this is that the conversational AI solutions are able to learn from previous responses to several queries, with the help of this technology, which further increases the ability of machines in answering questions. In terms of application, the conversational AI market is categorized into onboarding and employee engagement, branding and advertisement, customer support, customer engagement and retention, and personal assistant. The personal assistant category is predicted to grow at the fastest CAGR, of 31.0%, during the forecast period. This is because of the conversational AI solutions, such as IVA and chatbots, that act as a personal assistant and are able to control ones schedule and organize social and business meetings on behalf of the person. The technology further conveys such details to the person through webpage, calendar, and inbox.Read the full report: https://www.reportlinker.com/p05842913/?utm_source=GNW

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The conversational artificial intelligence (AI) market generated $3.2 billion and is predicted to reach $15.0 billion in 2024, advancing at a 30.2%...