Conversational AI Market to Be Worth $49.80 Billion by 2031

Sheetal2305 Aug, 2025Technology

The firm cites as a major influencer of this growth the rising demand for AI-powered customer support solutions as businesses increasingly seek to enhance user experience while reducing operational costs. Other factors include the widespread adoption of messaging apps and voice-enabled assistants; the growing emphasis on omnichannel engagement strategies across industries such as e-commerce, banking, and healthcare; and advances in natural language processing (NLP) and machine learning technologies that have significantly improved the accuracy and contextual understanding of AI systems, making them more effective in real-time interactions.