What are the latest figures on the artificial intelligence (ai) in customer experience market’s size and projected CAGR?
The artificial intelligence (AI) in customer experience market size has grown exponentially in recent years. It will grow from $13.9 $ billion in 2024 to $17.75 $ billion in 2025 at a compound annual growth rate (CAGR) of 27.7%. The growth in the historic period can be attributed to AI reducing operational costs, growth in use of AI-driven chatbots, rise in customer expectations, and improvement in customer data security and fraud detection.
The artificial intelligence (AI) in customer experience market size is expected to see exponential growth in the next few years. It will grow to $46.9 $ billion in 2029 at a compound annual growth rate (CAGR) of 27.5%. The growth in the forecast period can be attributed to growing use of AI in mobile apps, growing preference for AI-driven self-service options, rising use of real-time decision making, scalability, and increasing multilingual support. Major trends in the forecast period include integration of robotic process automation with AI, AI-driven predictive analytics, integration with CRM systems, advanced natural language processing, and advancements in deep learning models.
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Which Market drivers have played a significant role in driving the artificial intelligence (ai) in customer experience market?
The expansion of digital channels is expected to propel the growth of AI in the customer experience market going forward. Digital channels refer to the various online platforms and tools through which businesses and organizations interact with customers, deliver products, content, and conduct transactions. Digital channels enhance customer engagement, streamline communication, and provide personalized experiences across various platforms. AI in customer experience enhances digital channels by automating personalized interactions, providing real-time support, and analyzing customer data to improve engagement and satisfaction. For instance, in September 2024, according to the Office for National Statistics, a UK-based government agency, In Q4 2022, internet sales constituted 27.6% of total retail sales, whereas in Q4 2023, this figure rose to 28.7%, indicating a year-over-year increase in the share of online sales within the retail sector. Therefore, the expansion of digital channels is driving the growth of AI in the customer experience market.
What are the key segments within the artificial intelligence (ai) in customer experience market?
The artificial intelligence (AI) in customer experience market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Mode: Cloud-Based, On-Premise
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Application: Chatbots And Virtual Assistants, Sentiment Analysis, Customer Behavior Analytics, Personalized Recommendations, Other Applications
5) By Industry Vertical: Retail And E-commerce, Banking, Financial Services, And Insurance (BFSI), Information Technology (IT) And Telecommunications, Healthcare, Travel And Hospitality, Media And Entertainment, Other Industry Verticals
Subsegments:
1) By Solution: AI-Powered Chatbots And Virtual Assistants, Sentiment Analysis Tools, Personalization Engines, Predictive Analytics For Customer Behavior, Customer Journey Mapping Tools, Voice And Speech Recognition Systems, AI-Based Recommendation Engines, AI-Driven Customer Feedback Analysis
2) By Services: AI Integration And Implementation Services, Consulting Services For Customer Experience Strategy, AI Model Training And Customization Services, Data Analytics And Reporting Services, Managed Services For AI-Powered Customer Experience, Post-Implementation Support And Maintenance, Customer Experience Optimization Services
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Which key players are shaping the artificial intelligence (ai) in customer experience market?
Major companies operating in the AI in customer experience market are Google LLC, Microsoft Corporation, Amazon Web Service, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce Inc., Nvidia Corporation, Adobe Inc., Avaya LLC, NICE Ltd., Nuance Communications Inc., Zendesk Inc., Genesys Cloud Services Inc., Pegasystems Inc., Qualtrics LLC, Verint Systems Inc., Sprinklr Inc., Aptean Limited, Freshworks Inc., Medallia Inc., Hootsuite Inc., Servion Global Solutions Ltd., Intercom Inc., Ada Support Inc.
Which transformative trends will shape the artificial intelligence (ai) in customer experience market landscape?
Major companies operating in the AI in customer experience market are developing AI-powered assistants to enhance customer relationship management (CRM) capabilities. AI-powered assistants improve customer experience by providing instant, accurate responses to inquiries, personalizing interactions based on user data, and efficiently handling routine tasks, which enhances overall satisfaction and operational efficiency. For instance, in September 2023, Salesforce, a US-based software company, launched Einstein Copilot, an AI-powered assistant. Einstein Copilot enhances the customer experience by leveraging AI to provide personalized interactions and automate various tasks within Salesforce’s CRM platform. It aims to help sales, service, marketing, and commerce teams work more efficiently by accelerating deal closures, streamlining case resolution, simplifying campaign development, and assisting with e-commerce tasks.
How do regional factors impact the artificial intelligence (ai) in customer experience market, and which region is the largest contributor?
North America was the largest region in the artificial intelligence (AI) in customer experience market in 2024. The regions covered in the artificial intelligence (AI) in customer experience market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Artificial Intelligence (AI) In Customer Experience Market Report 2025 Offer?
The artificial intelligence (ai) in customer experience market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Artificial Intelligence (AI) in customer experience refers to the application of artificial intelligence technologies to enhance customer interactions and improve service quality. It involves using AI-driven tools and algorithms to personalize customer journeys, provide real-time support, and analyze customer feedback. This approach aims to increase customer satisfaction and loyalty while optimizing operational efficiency.
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