North America Conversational AI Market Forecast to 2031 - Regional Analysis - by Component, Type, Deployment Type, and Industry

Description

List of Tables

The North America conversational AI market was valued at US$ 3,235.60 million in 2022 and is expected to reach US$ 14,481.37 million by 2031; it is estimated to register a CAGR of 20.6% from 2023 to 2031.

Growing E-Commerce Sector Fuels North America Conversational AI Market

Since the COVID-19 pandemic, there has been a surge in online shopping across the world. According to the International Air Transport Association (IATA), in 2021, 2.14 billion people (i.e., ~ 27.6% of the world ' s population) bought products from online portals. In November 2024, the Census Bureau of the Department of Commerce announced that the estimated US retail e-commerce sales for Q3 of 2024 were US$ 300.1 billion. This represents an increase of 2.6% from the Q2 of 2024. Further, in Q3 of 2024, e-commerce sales increased by 7.4% compared to the same quarter in 2023. E-commerce sales in Q3 of 2024 accounted for 16.2% of all retail sales. The growing demand for online shopping is raising the demand for conversational commerce. Intelligent AI-powered shopping bots are revolutionizing the e-commerce industry by interacting with their customers, providing personalized guidance, and further driving sales. Also, by leveraging machine learning and natural language processing, conversational AI helps engage meaningful dialogues, understand customer needs, and nurture leads in real time. Thus, the growing e-commerce sector propels the conversational AI market growth.

North America Conversational AI Market Overview

The North America conversational AI market has been segmented into the US, Canada, and Mexico. Substantial investments by leading tech giants in research and development of AI-enabled solutions and services have facilitated continuous innovative developments in the US. Also, the high penetration of smartphone devices in the country propels the US conversational AI market growth. According to the Global System for Mobile Communications Association (GSMA), smartphone adoption in the US was 84% in 2022 and is expected to increase to 89% by 2031. In addition, the growing demand for superior customer experience, grievances addresses, technical support, and customer engagement without an increase in operational costs fuels the market growth. As a result, the market players are consistently developing numerous innovative and interactive chatbot-based solutions for their vast end-user industries, which propels the growth of the US conversational AI market.

North America Conversational AI Market Revenue and Forecast to 2031 (US$ Million)

North America Conversational AI Market Segmentation

The North America conversational AI market is categorized into component, type, deployment type, industry, and country.

Based on component, the North America conversational AI market is segmented into platform and service. The platform segment held a larger share of the North America conversational AI market share in 2023.

By type, the North America conversational AI market is bifurcated into chatbots and intelligent virtual assistants. The chatbots segment held a larger share of North America conversational AI market in 2023.

In terms of deployment type, the North America conversational AI market is bifurcated into on-premise and cloud. The on-premise segment held a larger share of North America conversational AI market in 2023.

Based on industry, the North America conversational AI market is segmented into retail & e-commerce, healthcare & life sciences, travel & hospitality, BFSI, IT & telecom, media & entertainment, and others. The retail & e-commerce segment held the largest share of the North America conversational AI market share in 2023.

By country, the North America conversational AI market is segmented into the US, Canada, and Mexico. The US dominated the North America conversational AI market share in 2023.

Alphabet Inc; Amazon.com Inc.; Artificial Solutions International AB; Cognigy GmbH; International Business Machines Corp; Kore.ai Inc.; Microsoft Corp; Oracle Corp; Rasa Technologies Inc; and SAP SE are some of the leading companies operating in the North America conversational AI market.

Product Code: BMIRE00031078

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. North America Conversational AI market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 List of Vendors in Value Chain

5. North America Conversational AI market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Growing E-Commerce Sector
- 5.1.2 Increasing Demand for Chatbot Solutions
5.2 Market Restraints
- 5.2.1 Rising Privacy Concerns
5.3 Market Opportunities
- 5.3.1 Rising Demand for Conversational AI in Healthcare Sector
- 5.3.2 Emergence of Generative AI
5.4 Market Trends
- 5.4.1 Growing Adoption of Conversational AI in Gaming Industry
5.5 Impact of Drivers and Restraints:

6. Conversational AI market - North America Analysis

6.1 North America Conversational AI Market Overview
6.2 Conversational AI market Revenue (US$ Million), 2021-2031
6.3 Conversational AI market Forecast Analysis

7. North America Conversational AI market Analysis - by Component

7.1 Platform
- 7.1.1 Overview
- 7.1.2 Platform: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)
7.2 Service
- 7.2.1 Overview
- 7.2.2 Service: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)

8. North America Conversational AI market Analysis - by Type

8.1 Chatbots
- 8.1.1 Overview
- 8.1.2 Chatbots: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)
8.2 Intelligent Virtual Assistants
- 8.2.1 Overview
- 8.2.2 Intelligent Virtual Assistants: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)

9. North America Conversational AI market Analysis - by Deployment Type

9.1 On-Premise
- 9.1.1 Overview
- 9.1.2 On-Premise: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)
9.2 Cloud
- 9.2.1 Overview
- 9.2.2 Cloud: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)

10. North America Conversational AI market Analysis - by Industry

10.1 Retail and E-commerce
- 10.1.1 Overview
- 10.1.2 Retail and E-commerce: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)
10.2 Healthcare and Life Sciences
- 10.2.1 Overview
- 10.2.2 Healthcare and Life Sciences: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)
10.3 Travel and Hospitality
- 10.3.1 Overview
- 10.3.2 Travel and Hospitality: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)
10.4 BFSI
- 10.4.1 Overview
- 10.4.2 BFSI: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)
10.5 IT and Telecom
- 10.5.1 Overview
- 10.5.2 IT and Telecom: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)
10.6 Media and Entertainment
- 10.6.1 Overview
- 10.6.2 Media and Entertainment: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)
10.7 Others
- 10.7.1 Overview
- 10.7.2 Others: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)

11. North America Conversational AI market - Country Analysis

11.1 North America
- 11.1.1 North America: Conversational AI market Breakdown, by Key Countries, 2023 and 2031 (%)
  - 11.1.1.1 North America: Conversational AI market - Revenue and Forecast Analysis - by Country
  - 11.1.1.2 United States: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.2.1 United States: Conversational AI market Breakdown, by Component
    - 11.1.1.2.2 United States: Conversational AI market Breakdown, by Type
    - 11.1.1.2.3 United States: Conversational AI market Breakdown, by Deployment Type
    - 11.1.1.2.4 United States: Conversational AI market Breakdown, by Industry
  - 11.1.1.3 Canada: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.3.1 Canada: Conversational AI market Breakdown, by Component
    - 11.1.1.3.2 Canada: Conversational AI market Breakdown, by Type
    - 11.1.1.3.3 Canada: Conversational AI market Breakdown, by Deployment Type
    - 11.1.1.3.4 Canada: Conversational AI market Breakdown, by Industry
  - 11.1.1.4 Mexico: Conversational AI market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.4.1 Mexico: Conversational AI market Breakdown, by Component
    - 11.1.1.4.2 Mexico: Conversational AI market Breakdown, by Type
    - 11.1.1.4.3 Mexico: Conversational AI market Breakdown, by Deployment Type
    - 11.1.1.4.4 Mexico: Conversational AI market Breakdown, by Industry

12. Competitive Landscape

12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration

13. Industry Landscape

13.1 Overview
13.2 Market Initiative
13.3 Product Development

14. Company Profiles

14.1 Amazon.com Inc
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments
14.2 International Business Machines Corp
- 14.2.1 Key Facts
- 14.2.2 Business Description
- 14.2.3 Products and Services
- 14.2.4 Financial Overview
- 14.2.5 SWOT Analysis
- 14.2.6 Key Developments
14.3 Alphabet Inc
- 14.3.1 Key Facts
- 14.3.2 Business Description
- 14.3.3 Products and Services
- 14.3.4 Financial Overview
- 14.3.5 SWOT Analysis
- 14.3.6 Key Developments
14.4 Oracle Corp
- 14.4.1 Key Facts
- 14.4.2 Business Description
- 14.4.3 Products and Services
- 14.4.4 Financial Overview
- 14.4.5 SWOT Analysis
- 14.4.6 Key Developments
14.5 SAP SE
- 14.5.1 Key Facts
- 14.5.2 Business Description
- 14.5.3 Products and Services
- 14.5.4 Financial Overview
- 14.5.5 SWOT Analysis
- 14.5.6 Key Developments
14.6 Microsoft Corp
- 14.6.1 Key Facts
- 14.6.2 Business Description
- 14.6.3 Products and Services
- 14.6.4 Financial Overview
- 14.6.5 SWOT Analysis
- 14.6.6 Key Developments
14.7 Artificial Solutions International AB
- 14.7.1 Key Facts
- 14.7.2 Business Description
- 14.7.3 Products and Services
- 14.7.4 Financial Overview
- 14.7.5 SWOT Analysis
- 14.7.6 Key Developments
14.8 Cognigy GmbH
- 14.8.1 Key Facts
- 14.8.2 Business Description
- 14.8.3 Products and Services
- 14.8.4 Financial Overview
- 14.8.5 SWOT Analysis
- 14.8.6 Key Developments
14.9 Kore.ai Inc.
- 14.9.1 Key Facts
- 14.9.2 Business Description
- 14.9.3 Products and Services
- 14.9.4 Financial Overview
- 14.9.5 SWOT Analysis
- 14.9.6 Key Developments
14.10 Rasa Technologies Inc
- 14.10.1 Key Facts
- 14.10.2 Business Description
- 14.10.3 Products and Services
- 14.10.4 Financial Overview
- 14.10.5 SWOT Analysis
- 14.10.6 Key Developments

15. Appendix

15.1 About The Insight Partners
15.2 Word Index