The Conversational AI Market is projected to grow from USD 10.7 billion in 2023 to USD 29.8 billion by 2028, at a CAGR of 22.6% during the forecast period, according to new research report by MarketsandMarkets? The Conversational AI market is bifurcated on the basis of conversational interface. The market size of chatbots estimated to be largest and projected to have a highest CAGR during the forecast period. The growth of the chatbots segment is attributed to the increasing demand for AI-powered chatbots for various use cases across verticals. The rising need to reduce human error leads to more accurate information presented to customers and faster time to resolution with the deployment of voicebots across the globe. The rising popularity of ChatGPT, an AI-powered chatbot will drastically spur the conversational AI growth rate in coming years due to trending use cases across key industry verticals.