Global Chatbot Market to Reach Almost $1 Billion by 2024

chatbot-value

Smart Customer Service – New research from Transparency Market Research predicts the global chatbot market will reach $994.5 million by the year 2024. The market was recently valued at $113 million at the end of last year but is predicted to grow at a compound annual rate of almost 28%. The reason for this strong growth is that more companies are relying on chatbots to deliver an engaging virtual customer experience. Facebook, Google and Microsoft are the leaders, collectively taking home 97.5% of the share. But TMR also predicts there is not much room for new comers in this market due to the sheer volume of companies already in play. LINK