target audience: TECH SUPPLIER Publication date: Jun 2024 - Document type: Market Forecast - Doc Document number: # US51619324
Worldwide Conversational AI Tools and Technologies Forecast, 2024–2028
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Abstract
This IDC study presents a view of conversational AI tools and technologies revenue from the historical year 2023 through to the forecast period of 2024–2028.
"The conversational AI tools and technologies market continues to show strong acceleration, and IDC expects this market to continue to grow over the forecast period of 2024–2028. IDC forecasts the overall market to be over $31.9 billion in revenue in 2028 with an overall market CAGR of 40.4% for the entire period," said Hayley Sutherland, research manager, Conversational AI and Knowledge Discovery at IDC. "The improvements in AI over the past few years have resulted in measurable ROI from conversational AI tools and technologies, and with the promise of generative AI-–based features, adoption of conversational interfaces will continue to grow."