Retail chatbot market is anticipated to grow at a significant CAGR of 19.5% during the forecast period (2024-2031). A retail chatbot is a specially designed software program that simulates human conversation while interacting with potential and existing customers. It uses Artificial intelligence (AI), Machine Learning (ML) and Natural Language Processing (NLP) to provide customers with personalized care and help recreate an in-person buying experience. As reported by the Center for insurance policy and research, by 2023, chatbot market is expected to reach $1.2 billion globally.

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The global economy is shifting towards a digital approach for business, administration, and consultation. Most businesses and governments are integrating either automation or AI into their systems for better ROI (Return on Investment), efficiency, control, and workload management. For instance, the Union Ministry of Agriculture and Farmers Welfare of India launched an AI chatbot for the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme. Also, the Social Insurance Institution (Kela) in Finland set up two chatbots, Kela-Kelpo and FPA-Folke, to help clients find information about benefits on Kela’s self-service web portal (Social Insurance Institution).

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Market Coverage
Market number available for – 2024-2031
Base year- 2024
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others

Market Segmentation

Global Retail Chatbot Market by Type 

Rule Based Chatbot
Interactive Chatbot

Global Retail Chatbot Market by Application

Websites
Contact Centers
Social media
Mobile app

Global Retail Chatbot Market by Use Case

Customer support
Product recommendation
Tracking and notifications
Loyalty programs and offers
Feedback

Global Retail Chatbot Market by Deployment

On-premises
Cloud

Global Retail Chatbot Market by Component

Platform/ SDK kit
Services

Regional Analysis

North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Latin America
The Middle East & Africa

Company Profiles 

Ada Support, Inc.
Amelia US LLC.
Automattic, Inc.
Cognigy GmbH
Creative virtual Ltd.
com, Inc.
Enterprise Bot
Flow XO LLC.


HubSpot, Inc.
Intercom,Inc.
JioHaptik Technologies Ltd.
LivePerson, Inc.
OpenAIOpCo, LLC.
Pypestream Inc.
Tagove Limited (Acquire)
WebarooInc
Wotnot Solutions Pvt. Ltd
Zendesk, Inc.
Zoho Corp. Pvt Ltd.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global retail chatbot market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.

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