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The Global Chatbot Market is projected to grow from USD 2.9 billion in 2020 to USD 10.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 23.5%. This growth is attributed to the increasing customer demand for self-services, the advent of technologies such as analytics, AI, and cloud, and the ability of chatbots to offer a competitive advantage to businesses. Chatbots are computer programs used for conversations through messaging applications/web interfaces and have been around since the 1960s.
