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The chatbot market is estimated to grow from USD 5.4 billion in 2023 to USD 15.5 billion by 2028, at a CAGR of 23.3% during the forecast period. The market is driven by advancements in natural language processing, machine learning, and AI, as well as businesses realising the advantages of utilising chatbots to boost customer service and operational effectiveness. Contact centers are expected to hold the largest market share during the forecast period.
