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Team Eela
The global Conversational AI market is on a growth trajectory, with a projected Compound Annual Growth Rate (CAGR) of 21.02% from 2020 to 2027, per a recently released report by Verified Market Research. The report highlights that the market, valued at $3.89 Billion in 2019, is anticipated to surge to $18.02 Billion by the conclusion of the forecast period.
Conversational AI, encompassing technologies such as speech-based assistance, chatbots, messaging apps, and personalized customer interactions, has become a pivotal component of the Artificial Intelligence landscape, fueling its rapid expansion.
Key players at the forefront of innovation populate the Conversational AI market. Notable companies in this space include Amazon Web Services, Inc., Microsoft, Oracle, IBM, Google LLC, SAP ERP, Baidu, Inc., Nuance, Artificial Solutions, Haptik, and Creative Virtual.
As Conversational AI continues to redefine customer interactions and streamline business operations, its growth trajectory remains robust. Ongoing technological advancements and increasing recognition of its potential across various sectors bode well for the future of Conversational AI.
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