The global chatbot market, valued at USD 5,132.8 million in 2022, is projected to grow at a CAGR of 23.3% from 2023 to 2030. This growth is fueled by the increasing adoption of customer service chatbots by businesses aiming to reduce operational costs. A chatbot is an AI-powered application programmed to interact with humans via text-based conversations, integrating with various messaging platforms to assist users across industries. Advancements in AI and machine learning are expected to enhance chatbot functionalities, further driving demand and market expansion.
