How is Increasing Need for Personalized Customer Services Driving Conversational AI Market?
As per a report by P&S Intelligence, the global conversational AI market is expected to generate a revenue of more than $15.0 billion by 2024, rising from $3.2 billion in 2018, progressing at a 30.2% CAGR during the forecast period (2019u20132024). The two major components of conversational AI technology are services, including system integration, support & maintenance, and training & consulting, and platform, between which, the demand for conversational AI platforms was higher in the past. Other than this, the demand for support and maintenance services is also projected to rise significantly in the coming years, which is due to upgrades and technical advancements and rising requirement for automation.
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