The global Chatbot market is expected to develop at a compound annual growth rate (CAGR) of 23.5 percent from USD 2.9 billion in 2020 to USD 10.5 billion by 2026.
In 2019, the worldwide chatbot market was worth USD 396.2 million. COVID-19's global impact has been somewhat unpredictable, with chatbots seeing a wide range of demand across all countries during the pandemic. According to our research, the market is expected to increase at a CAGR of 22.5 percent from USD 396.2 million in 2019 to USD 1,953.3 million in 2027. Because of the general market demand and growth of chatbot services in SMEs throughout developing countries, the CAGR has dropped unexpectedly.
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