How has the conversational commerce market evolved, and where is it heading next?
The conversational commerce market size has grown rapidly in recent years. It will grow from $11.04 billion in 2024 to $13 billion in 2025 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to increasing demand across industries, customer support and personal assistance, data privacy and compliance, rising popularity of messaging apps, rising demand for personalized customer experience.
The conversational commerce market size is expected to see strong growth in the next few years. It will grow to $17.63 billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to consumer behavior analysis, global market expansion, rising demand for multilingual chatbots, increasing use of chatbots in e-commerce, rising demand for voice-enabled chatbots. Major trends in the forecast period include advancements in natural language processing, multimodal conversations, industry-specific solutions, voice assistants in iot devices, continuous learning and adaptation.
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How have varous drivers impacted the growth of the conversational commerce market?
The expansion of the e-commerce industry is expected to propel the growth of the conversational commerce market going forward. E-commerce, or electronic commerce, describes the exchange of products and services via the Internet. Conversational commerce can help online retailers unleash the potential of conversation to sell their products and services by facilitating engagement through AI-based text and voice assistants, social messaging apps, and other innovative conversational commerce tools. For instance, according to the United States Census Bureau, a US-based department of commerce, the US retail e-commerce reached $271.7 billion in the third quarter of 2023, which reflects a slight 0.9% increase from the $269.3 billion in sales during Q2 2023. Further, the e-commerce sales expanded much faster in Q3 2023 with a 7.8% boost versus Q3 2022. Therefore, the expansion of the e-commerce industry is driving the conversational commerce market.
What are the primary segments of the conversational commerce market?
The conversational commerce market covered in this report is segmented –
1) By Type: Chatbots, Intelligent Virtual Assistants
2) By Component: Solution, Services
3) By Deployment Mode: Cloud, On-Premises
4)By Enterprise Size: Small And Mid-Sized Enterprises (SMEs), Large Enterprises
Subsegments:
1) By Chatbots: Rule-Based Chatbots, AI-Powered Chatbots, E-commerce Chatbots, Customer Support Chatbots
2) By Intelligent Virtual Assistants: Voice Assistants, Text-Based Assistants, Multi-Channel Assistants, Personal Shopping Assistants
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Which firms are leading the conversational commerce market?
Major companies operating in the conversational commerce market report are Amazon Inc., Apple Inc., Google LLC, Microsoft Corporation, Facebook Inc., IBM Corporation, Oracle Corporation, Salesforce Inc., Shopify Inc., Webio Ltd., Zendesk Inc., Nuance Communications Inc., LivePerson, HubSpot, Homepage Inc., Intercom Inc., Welcome Drift Inc., Haptic Technologies Pvt Ltd., SleekFlow, Yalochat, CogniCor Technologies, Charles GmbH, Octane AI, Recart, Bobble Keyboard
How will industry trends affect the trajectory of the conversational commerce market?
Major companies operating in the conversational commerce market are developing innovative products such as Bobble Super to better understand customers’ needs, demands, and queries. Bobble Super is integrated with Bobble AI’s AI-based keyboard, providing users with a seamless and convenient shopping experience. For instance, in March 2023, Bobble AI, an India-based conversation media platform, launched Bobble Super. This conversational commerce allows users a hassle-free, personalized, and real-time intent-based shopping experience directly on its keyboard application. Customers can order food, book flight tickets, and send gifts online to over 100 businesses like Swiggy, Redrail, Winni, and Garnier. Using cutting-edge intent recognition technology that maps users’ intents across their smartphone usage in real time, the Super Keyboard app offers users personalized product and service recommendations throughout their smartphone trip.
Which geographic trends are shaping the conversational commerce market, and which region has the highest market share?
North America was the largest region in the conversational commerce market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the conversational commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Conversational Commerce Market Report 2025 Offer?
The conversational commerce market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Conversational commerce refers to a branch of e-commerce that allows customers to shop and interact with firms using chat, audio, and messaging platforms. It lets businesses connect with customers anytime through omnichannel conversations and provides important insights. Conversational commerce contributes to the creation of seamless, efficient customer experiences.
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