As per Brainy Insights, the chatbot industry will increase to $3.60 billion in 2022 and to $24.80 billion by 2032. The growing tendency among businesses toward improving consumer expertise, lowering running expenses, and operational efficiency has just been around for ten years, and it is assisting in boosting market growth over the forecast period. Furthermore, the surge in demand for automated patient management devices in the healthcare sector and the increased penetration of various websites and mobile applications are anticipated to drive market growth over the forecast period.

 

The services and solutions segments make up the component section. Due to the widespread implementation of internal chatbot technology, the solution category held the biggest market share in 2022 and is anticipated to maintain this position during the projected period.

 

Web-based, standalone, AI-powered, messenger-based, and rule-based software make up the type category. Due to growing technological collaboration and the advent of cutting-edge storage technologies, the standalone segment market size was USD 1.05 billion in 2022.

 

On-premises and cloud deployments are separated into separate segments. Due to the growing demand for intelligent customer engagement, the on-premise sector is predicted to dominate the market in the years to come.

 

Retail, healthcare, media and entertainment, real estate, education, e-commerce, banking, financial services and insurance (BFSI), and others make up the application segment. The market size for the e-commerce sector was USD 0.87 billion in 2022 as a result of more e-commerce businesses utilizing chatbot services.