The global chatbot market size reached US$ 4.6 Billion in 2022 and is expected to reach US$ 17.2 Billion by 2028, exhibiting a growth rate (CAGR) of 24.8% during 2023-2028. Chatbots are majorly incorporated into messaging applications, websites, mobile applications, and other digital devices for interacting as digital assistants through text or text-to-speech functionalities. The elevating levels of digitization across several industries, such as BFSI, telecommunication, healthcare, etc., and the rising requirement for high-quality customer care service are primarily driving the chatbot market. Additionally, ongoing advancements in IT infrastructures and extensive R&D activities in the field of natural language processing (NLP) are projected to propel the global chatbot market over the forecasted period.
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