Research Note: Global Conversational AI Market
Market
The conversational AI market comprises platforms and solutions that enable automated, human-like interactions between organizations and their customers or employees through natural language processing and machine learning. The enterprise generative AI and automation solutions market is projected to reach $98.1 billion by 2026, growing at a CAGR of 38.4% from 2024 to 2026. According to extensive research, market leaders include established technology companies like IBM, Google, and AWS, alongside specialized vendors like Kore.ai, Yellow.ai, and Boost.ai who have demonstrated strong execution capabilities and strategic vision. The market shows significant growth potential, with companies improving both their ability to execute and completeness of vision between 2022 and 2023. Eight companies, including Kore.ai, OneReach.ai, Cognigy, IBM, Avaamo, Boost.ai, AWS, and Yellow.ai, demonstrated improved performance across both metrics in this period. The market is characterized by rapid technological advancement, particularly in areas like generative AI integration and enterprise-grade deployment capabilities. While specific market size figures are not provided in the documents, the presence of major technology companies and sustained investment in the space indicates a multi-billion dollar industry. Competition is intensifying as vendors expand their capabilities across customer service, IT support, HR, and other enterprise functions. Market dynamics show a clear trend toward platforms that can deliver both sophisticated AI capabilities and practical business value through improved customer experiences and operational efficiency. The sector continues to evolve with emerging players challenging established vendors through innovative approaches to conversational AI deployment and orchestration.
Vendors: Aisera, Sinch, Inbenta, Verint, Rasa, Senseforth.ai, AWS, Sprinklr, Boost.ai, [24]7.ai, Laiya, Avaamo, Amelia, Cognigy, IBM, Google, OneReach.ai, Openstream.ai, Kore.ai, Yellow.ai, Omilia.