Chatbots Market Growing at a CAGR 35.08% during 2016 to 2023- Research Nester - Sci/Tech Nation

Chatbot demand highest from BFSI & E-commerce; global demand worth 868 million by 2023.Global Chatbot Market is primarily driven by the growth in IT sector, according to our research report "Global Chatbot Market Outlook 2023". Under Global Chatbot Market, web-based chatbots segment is anticipated to grow substantially during the forecast period. The rising penetration of chatbots in e-commerce and banking industry & spiked adoption of virtual assistants in small and medium enterprises are the major growth drivers for this industry. Further, riding on the back of advancement in user interfaces and massive researches on artificial intelligence to make smart and more interactive chatbots, the web-based chatbots segment is expected to contribute the largest market share of 58.5% by 2023. The global market of chatbot reached USD 88.5 Million in 2015 and it is expected to garner USD 868.6 Million by the end of 2023, registering a modest CAGR over the forecast period.